Business
Umpqua Bank Charitable Foundation Awards Community Grants to 78 Nonprofits
2023's first cycle of grants issued as part of $20MM philanthropic commitment following transformative merger with Columbia Bank LAKE OSWEGO, Ore., June 12,
About this update from Columbia Banking System, Inc.
[{"type":"text","content":"2023's first cycle of grants issued as part of $20MM philanthropic commitment following transformative merger with Columbia Bank\nLAKE OSWEGO, Ore., June 12, 2023 /PRNewswire/ -- In its first community grants cycle of 2023, the Umpqua Bank Charitable Foundation, a 501(c)(3) organization of Umpqua Bank, under the parent company Columbia Banking System, Inc. (Nasdaq: COLB), has awarded 78 grants to local nonprofits across its footprint totaling $417,000.\n\n \n \n \n \n \n \n\n \nUmpqua's community grants this cycle support nonprofit organizations across Oregon, Washington, California, Idaho and Nevada, and are part of the Bank's overall foundation and corporate giving program that has invested $17.4 million in communities since the foundation was formed in 2014. \n\"Each of the nonprofits selected displays an exemplary service mindset and a deep commitment to improving economic prosperity for under-resourced individuals, families and small businesses,\" says Randy Choy, vice president of philanthropy programs and managing director of the Umpqua Bank Charitable Foundation. \"We're honored to partner with them by investing in their critical work, and we look forward to supporting many more organizations in 2023 through our giving and volunteerism programs.\"\nThis is the first of three grant cycles in 2023, and the first cycle following the close of the merger between Umpqua Bank and Columbia Bank in March of this year. Following the completion of the merger, Umpqua Bank and parent company Columbia Banking System disbursed $20 million to the charitable foundation to sustain the foundation's historic charitable giving levels and activate millions more each year.\n\"The Umpqua Bank Charitable Foundation is central to how we will continue to show up in support of each and every community we serve,\" says Umpqua Bank Chief Marketing Officer David Moore Devine. \"We issued this initial $20 million disbursement to the foundation at the outset of our future together to strengthen our commitment and ensure we will continue investing in our communities with greater impact and scale in the years ahead.\"\nThis cycle's recipient organizations were selected from among hundreds of applicants, with a demonstrated commitment to improving economic prosperity for under-resourced individuals, families, and small businesses in at least one of the fol...