Columbia Banking System

Profile narrative

Umpqua Bank operates as a full-service commercial bank under the Columbia Banking System holding company. The bank provides personal banking products such as checking and savings accounts, consumer loans, and mortgage financing. For business clients, it offers commercial loans, lines of credit, treasury management, and merchant services. Wealth management and investment advisory services are also available to individual and institutional customers. Umpqua Bank emphasizes relationship‑based banking and local decision‑making as a core aspect of its community‑banking model. The institution is subject to oversight by federal and state banking regulators.

In May 2023, a technology service provider of Umpqua Bank experienced a breach exploiting a vulnerability in the MOVEit file‑transfer software, resulting in the unauthorized acquisition of names and Social Security numbers of certain consumer and small‑business customers. The bank reported that no account information or commercial customer data was compromised in that incident and offered affected individuals twenty‑four months of identity‑theft protection services. In June 2023, Umpqua Bank disclosed that it was impacted by a separate large‑scale cyberattack that also exploited a MOVEit vulnerability, affecting data that had been uploaded to a third‑party program. The bank stated that its internal IT systems were not affected by the June 2023 event, but an investigation into the scope of the breach, including the types of data exposed and the individuals involved, was underway. Notification letters were to be sent to all impacted parties once the investigation concluded. These incidents underscore the bank’s reliance on external vendors for certain file‑transfer and data‑processing functions.

Incidents

2 incidents linked to this organisation.