Umpqua Bank merger consolidates some branches on the Oregon coast03 April, 2023 3:47 PM
Oregon-based Umpqua Bank recently merged with Columbia Bank, and the combined company has created a system of more than 300 banking branches across the western United States. According to Chris Merrywell, president of consumer banking at Umpqua, the two banks don't overlap much. He teaches KLCC in the United States.
S. DOJ determines that 10 branches should be divested because the bank's market share in these locations is too large. In Oregon, it's Newport, Walderport, Tillamook, Manzanita and Ontario.
But these forced divestments may not be the only places where inventory changes occur.
"There are other overlapping branches on the road," Merrywell said.
"All of these branches are within a mile or two of each other, there are very few branches in the total area that are farther than that, so they are all very close to each other." retained banking jobs. Customers and employees at sites likely to close soon due to their proximity to neighboring sites have been notified, he said.
Merrywell says about 140 Columbia Bank branches are being rebranded with the Umpqua logo. He said both companies use the same online banking platform, so customers should have a relatively smooth transition.
Umpqua Bank was established in 1953 in Canyonville near the South Umpqua River.