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

Amazon lists 20 finalists for HQ2, and no, we aren’t on it

Los Angeles was the only West Coast city listed. They seem to like the nation’s capital.

Exotic animals find compassionate care in Bothell (video)

At the Center for Bird and Exotic Animal Medicine, vets treat snakes, hedgehogs and even kangaroos.

Don’t take economic forecasts to the bank — or the casino

Air travel delays could spur a rebirth of passenger rail service.

Emirates orders 20 more Airbus A380 jumbos, saving program

The Dubai carrier also has options to buy 16 more. The program seems safe until 2029.

How do you retrieve an errant Boeing 737 from a muddy slope?

Turkish authorities used cranes to lift a plane that skidded off a runway.

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.”

House passes bill aimed at lowering gender wage gap

The bill would hinder employers from retaliating against female workers who ask about others’ pay.

Planemaker joins forces with auto-industry supplier Adient

The new venture poses a threat to Zodiac Aerospace and Rockwell Collins

In this Dec. 20, 2017, photo, a clerk reaches to a shelf to pick an item for a customer order at the Amazon Prime warehouse, in New York. (AP Photo/Mark Lennihan, File)
Amazon’s potential HQ2 sites leaves many cities disappointed

Associated Press Amazon’s move to whittle its list for a second headquarters… Continue reading

Most Read