Umpqua Bank Launches Commercial Real Estate Division
Promotes Industry Veteran John Swanson to Lead Venture
SEATTLE--(BUSINESS WIRE)-- Umpqua Bank , a subsidiary of Umpqua Holdings Corporation (UMPQ) , has launched a commercial real estate division to expand its real estate presence throughout Oregon, Washington, California, and Northern Nevada. This new division will provide developers and investors with access to construction lending, portfolio lending and interim real estate loans on income-producing properties.
To lead the venture, Umpqua has promoted John Swanson to senior vice president and commercial real estate manager. Based in Seattle, Swanson will oversee the banks commercial real estate operations, including the expansion of products and portfolios. Swanson will report to Cort OHaver, Umpqua Banks executive vice president of commercial banking.
John has been an integral part of Umpquas commercial real estate success, said OHaver. His experience and leadership in this role will be tremendous assets as we continue to expand our real estate services to customers throughout our footprint.
Swanson has more than 30 years of finance and real estate experience, predominantly focused on income property project financing. Before joining Umpqua in 2010, Swanson was a senior vice president and Seattle market manager for U.S. Bank Commercial Real Estate.
For more information about Umpqua and its commercial real estate offerings, visit umpquabank.com.
About Umpqua Bank
Umpqua Bank , headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ) with locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past five years in a row on FORTUNE magazines list of the countrys 100 Best Companies to Work For. Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments, Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpquas Wealth Management Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
For Umpqua Bank
Tracy Anderson, 503-546-7897
Source: Umpqua BankCopyright Business Wire 2011