With a string of recent acquisitions, Umpqua Bank now has the largest market share of deposits in Jackson County.
Umpqua holds 14.78% of the county's almost $2.8 billion in deposits.
"Under the circumstances we've seen in the banking industry the past couple of years, it's a testimony to Umpqua's strength and safety and a response to our culture and what we do in the community," said Neal Brown, Umpqua's executive vice president and regional community bank manager. "It's been a tough two or three years and the fact we're stronger than we were three years ago may be a reflection of what we've seen in the numbers."
"I'm not a financial investor or broker, but possibly we've seen some of money flooding back into the stock market, where we've seen (the Dow Jones Industrial Average) go from 9,500 to over 11,000," Brown said. "The other thing is with the difficulties many of the businesses in their area are facing, they are using more of their cash for operating needs. They are also taking out fewer loans out of uncertainty and using more of their cash (that would otherwise be in bank accounts)."
Read more at the Mail Tribune.