Posted on FlashAlert: December 15th, 2020 10:36 AM
Downloadable file: Umpqua Bank’s Phoenix store was destroyed by the Alameda Fire
Bank is waiving up to $10,000 in financing costs for homeowners seeking to rebuild
PORTLAND, Ore., (December 15, 2020) – Umpqua Bank, a subsidiary of Umpqua Holdings Corporation, officially announced today plans to rebuild its retail bank store in Phoenix, Oregon, destroyed by recent wildfires that swept through the surrounding area. Details on timing and scope of the rebuild are still being determined, but city officials and bank leaders are discussing scenarios that could include community space in addition to a new bank facility for community benefit.
The announcement comes as Phoenix and communities across Oregon, Washington and California recover from devastating wildfires in 2020 that consumed more than five million acres and resulted in dozens of deaths across the region.
“The devastation in communities like Phoenix is staggering and almost unimaginable. As the hard work of recovery continues, we want our friends, neighbors and associates to know that we’re committed for the long haul,” said Umpqua Bank CEO Cort O’Haver. “Rebuilding our store is a priority for the bank, and we look forward to partnering with community leaders in a variety of ways to help Phoenix emerge from the destruction in the months and years ahead.”
Umpqua also recently announced that it will waive fees associated with financing to rebuild dwellings in Phoenix and other West Coast communities designated emergency disaster areas by the Federal Emergency Management Agency as a result of this year’s wildfires. In addition to other disaster relief for homeowners, those seeking to rebuild their home could save 1% off the cost to rebuild up to $10,000. For impacted homeowners with loans serviced by Umpqua in designated areas, the bank will also waive certain fees associated with purchasing a new home.
“Our community is still coming to grips with the devastation we’ve experienced,” said Phoenix City Manager Eric Swanson. “It’s encouraging to know we are not forgotten, and Umpqua’s commitment to help us rebuild homes and business gives us confidence that we’ll get through this and build a new future.”
On September 8th, the Alameda Fire swept through Phoenix and the neighboring town of Talent, Oregon, destroying an estimated 18,000 homes and businesses. Umpqua’s store located at 4000 South Pacific Highway in Phoenix was one of the businesses consumed in the blaze. The devastation received national attention, including coverage in the New York Times.
For more information on relief for homeowners impacted by the wildfires, visit: For more information, visit: https://www.umpquabank.com/
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and 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 eight years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies to Work For,” and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the sixteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses.
