Umpqua Bank’s Ron Farnsworth Named CFO of the Year
May 15 2015 - 11:45AM
Business Wire
Farnsworth recognized by the Portland
Business Journal for leadership role in creating the West Coast’s
largest community bank
Ron Farnsworth, executive vice president and chief financial
officer for Umpqua Holdings Corporation (NASDAQ: UMPQ) and its
subsidiaries, Umpqua Bank and Umpqua Investments, was today named
CFO of the Year in the public company category by the Portland
Business Journal. Farnsworth was previously honored with the award
in 2010.
“Ron combines a deep understanding of the banking industry’s
financial, regulatory and business environment with the rare
ability to lead and inspire those around him,” said Ray Davis,
president and CEO of Umpqua Bank. “2014 was a transformational year
for Umpqua, and one in which Ron played a pivotal role in our
success. Under his leadership, we successfully completed the
largest bank acquisition in Oregon history and became the West
Coast’s largest community bank – while continuing to be recognized
as one of the country’s strongest financial institutions. I could
not be more pleased to see Ron receive this award.”
As CFO, Farnsworth oversees all aspects of Umpqua’s financial
and fiscal operations as well as the company’s technology division.
Farnsworth was promoted to the position of CFO in 2008 in the
middle of the country’s most challenging financial environments.
Under Farnsworth’s leadership, Umpqua emerged from the Great
Recession with a balance sheet even stronger than it was before the
crisis began.
Farnsworth was instrumental in Umpqua’s 2014 acquisition of
Sterling Financial, which doubled the company’s size and footprint
to approximately $23 billion in assets, $15 billion in loans and
$16 billion in deposits, with more than 4,500 associates and 350
stores across five states - Oregon, Washington, Idaho, California
and Nevada.
The CFO of the Year Awards is an annual event hosted by Portland
Business Journal to recognize the region’s top financial
stewards.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of
Umpqua Holdings Corporation, and has locations across Idaho,
Washington, Oregon, California and Northern Nevada. Umpqua Bank has
been recognized for its innovative customer experience and banking
strategy by national publications including The Wall Street
Journal, The New York Times, BusinessWeek, Fast Company and CNBC.
The company has been recognized for the past eight years in a row
on FORTUNE magazine's list of the country's "100 Best Companies to
Work For," and was recently named by The Portland Business Journal
the Most Admired Financial Services Company in Oregon for the tenth
consecutive year. In addition to its retail banking presence,
Umpqua Bank owns Financial Pacific Leasing, Inc., a nationally
recognized commercial finance company that provides equipment
leases to small businesses.
Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua
Investments, Inc., which offers services through Umpqua Bank stores
and in dedicated offices throughout Oregon. Umpqua's Wealth
Management Division serves high net worth individuals and
nonprofits by providing customized financial solutions and
offerings. Umpqua Holdings Corporation is headquartered in
Portland, Ore. For more information,
visit http://www.umpquabank.com.
for Umpqua Holdings CorporationKaty Spaulding,
971-803-7030katy@allisonpr.com
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