None of Sterling Bank’s nine area branches will be closed during a round of reductions now taking place as Umpqua Bank begins aligning operations in the wake of its takeover of Sterling.
Bank officers are closing 27 branches across Washington, Oregon and California during the next several months. Those closures – including 13 branches in Washington along with seven each in Oregon and California – are occurring where both Umpqua and Sterling had branches within a few miles of each other, said company spokeswoman Eve Callahan.
Umpqua finished its purchase of Sterling two months ago in a $2 billion stock deal. The nearest Sterling closures to Spokane will be two Tri-Cities branches and one in Clarkston, Callahan said.
The two closed Tri-Cities Sterling branches were located inside Wal-Marts, she said.
In some cases the closed branch was an Umpqua operation, and in others it was a Sterling branch, she said.
In the Ballard neighborhood of Seattle, two branches were within 500 feet, she said. In that case, an Umpqua branch will be folded into the nearby Sterling branch.
The exact number of jobs lost has not yet been settled, Callahan said. No more branch closures are anticipated during 2014, she said.