Columbia Banking System, Inc.'s (NASDAQ: COLB) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024.
This expansion will support the bank's plan to improve its services across Arizona to cater to the needs of customers.
COLB's Subsidiary Strengthens Presence in Arizona
Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers and data centers. It also hosts a growing number of data centers, serving as a foundation for the emerging generative AI industry. This positions the region as an ideal location for the bank's long-term expansion strategy.
Umpqua Bank has been expanding its presence in Arizona since 2021 by establishing middle-market banking services. In June 2024, the bank opened its first retail branch in Phoenix, which was followed by a second branch in Scottsdale in August.
Umpqua Bank's CEO, ...
