Portland, Ore.-based Umpqua Bank is opening its first retail and commercial branch in Denver.
The branch includes 7,500 square feet of commercial space and 2,600 square feet in retail branch space. A grand opening for the broader community is scheduled next month. Umpqua Bank plans to open another commercial and retail branch in Colorado Springs, Colo., later this year.
The $51.5 billion regional bank entered Colorado three years ago offering commercial real estate services by adding middle market banking executive Shawn Thompson. The bank has gradually added to its Colorado presence in the ensuing time, and now supports businesses and high net worth individuals through private banking and wealth management services.
The branch is led by Daniel Maganda, who has nearly 15 years of banking experience.
“Denver has so much to offer in terms of its quality of life, dynamic economy and vibrant business community,” said President of Consumer Banking Chris Merrywell. “The city is a real catalyst for prosperity in Colorado and across the Mountain West. Umpqua Bank is thrilled to strengthen our presence here as we strive to become the premier, full-service bank of choice in communities throughout Colorado and the broader region.”
As part of the expansion, the Umpqua Bank Charitable Foundation donated $85,000 to several local groups.