Umpqua Bank to close 30 locations, including one in Green
Umpqua Bank announced today it will close its Green District location as part of a plan to eliminate 30 of its 300-plus locations over the next three to six months as it expands its digital banking program.
In Douglas County, the Green District location at 4900 SW Grange Rd., Roseburg will close by the end of January.
Umpqua Bank, a subsidiary of Umpqua Holdings Corporation headquartered in Roseburg, operates in Oregon, Idaho, California, Nevada and Washington.
The 30 locations will be consolidated into other existing locations, and as a result there will be fewer positions for associates. Eve Callahan, executive director of communications for Umpqua Bank, said the company does not know how many employees will be affected at this point, but there are more than 200 openings in Umpqua Banks across the country.
“We’re working closely with any affected associates to find a position elsewhere in the company, and if that’s not a good fit we’ll help them find a position elsewhere,” Callahan said. She said she didn’t know how many employees from the Green store will be affected or if there are other openings available in the Roseburg area.
Umpqua Bank tracks its usage between the brick-and-mortar locations and the mobile app, and has found customers are using the mobile tools more often than the physical locations. Callahan said there is still a need for the physical locations, but the company will focus more on digital banking.
The company completed a six-month pilot program in September. The pilot allows customers to log into a mobile app, choose their banker out of a list of available bankers, and communicate with them through text, chat and video to make transactions, open accounts and receive financial advice.
More than 1,800 customers chose a personal private banker in the mobile program, and the pilot found more than 90 percent of participating customers would adopt a digital platform.
The first phase of the pilot program had associates working from a centralized hub in Portland. The next phase will bring the digital platform inside bank locations so associates can use it to help customers in person as well as by secure text, chat and video. Umpqua Bank is rolling the pilot out to three stores across the Portland area before expanding it to other banks across the five states in 2018.
Associates in communities without brick-and-mortar locations will assist customers through digital technology and in-person consultations.
Umpqua Bank closed 26 branches in 2016 in response to the rising trend of online banking.
Umpqua Holdings also created a new company called Pivotus, headquartered in Palo Alto, California, that uses a digital technology banking platform. Pivotus helped develop the pilot program, which Umpqua Bank is launching.