Umpqua Bank to consolidate Lynnwood locations

LYNNWOOD — Umpqua Bank will consolidate two branches in Lynnwood after the merger earlier this year with Sterling Financial Corp.

It’s part of a plan announced this week to consolidate 27 locations company-wide in the wake of the deal.

In December, Umpqua will close its branch at 19009 33rd Ave. W, Suite 200, and transfer all operations to the former Sterling location at 19230 Alderwood Mall Parkway No. 110.

The bank considered a number of factors when deciding which branches to close including convenience for customers, its overall delivery network and proximity to other locations.

“It’s important to note that the average distance between consolidating locations is 1.1 miles,” an Umpqua Bank spokesperson said in an email.

The branches in Lynnwood are even closer at less than a mile apart.

As for the affected employees, Umpqua has more than 250 open positions and will try to find jobs for its workers in neighboring stores or elsewhere within the company, the spokesperson said.

Umpqua Bank has also opened four career centers — in Portland, Seattle, Spokane and Roseburg, Oregon — and developed digital tools to help their workers find opportunities at Umpqua or elsewhere.

Store consolidations will begin in September and continue through the end of this year. Umpqua has notified all affected customers and plans to automatically transfer customer accounts to the most convenient branch.

Umpqua, headquartered in Roseburg, merged with Spokane’s Sterling Bank in April. With $22 billion in assets and nearly 400 stores across five states, it became the largest community bank on the West Coast.

Umpqua currently has three locations in Snohomish County, including these two in Lynnwood and another in Mountlake Terrace.

More in Herald Business Journal

Best foot forward: Ferndale company to make custom shoes easy

Long specializing in insoles, Superfeet is putting 3-D machines in stores to make customized shoes.

Does a hypersonic US reconnaissance plane already exist?

A Skunk Works executive speaks of the top secret aircraft as if it is already in operation.

Alaska Airlines has selected destinations for new service from Paine Field. (Alaska Airlines)
Alaska Airlines will fly from Everett to 8 West Coast cities

Two destinations that didn’t make the list were Spokane and Hawaii.

Port of Everett CEO Les Reardanz has been called up and will be spending much of the year away from his office. He is going to Afghanistan. (Dan Bates / The Herald)
Port of Everett CEO reporting for duty — in Afghanistan

Les Reardanz has been called to active duty with the Navy for an eight-month deployment.

Boeing opens new $17 million training center in Auburn

Workers and dignitaries marked the grand opening of the facility Monday.

Trump’s company fights efforts to shed the president’s name

“Our homes are worth more without the Trump name.”

Airbus floats shutdown of A380 superjumbo

The aircraft is so big that some airports had to expand runways to accommodate the 550-seat plane.

Amanda Strong (left) tries on an Angel of the Winds Arena hat as she and Courtney Brown hand out gift bags after the renaming ceremony Dec. 13 in Everett. The new name replaces the Xfinity name. (Andy Bronson / Her file)
Angel of the Winds to break ground on $60M casino expansion

“We think we’re on the cusp of becoming a major resort.”

Why 7-Eleven, inventor of the Slurpee, is going organic

As sales of gas, cigarettes and soda plummet, stores to offer “better-for-you” products.

Most Read