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As we count down to Ben Bernanke's highly anticipated press conference ray Davis C -- Umpqua Bank joins us now to discuss what -- looking for from the Fed here.
-- -- absent a rate hike which we know isn't gonna happen look -- say that would either negatively or positively impact your business.
-- I think the the biggest -- I think we -- have is the fear of the uncertainty that's that's out -- right now on the economy.
And I think the best thing that can happen to us is for the politicians.
And a lot of the emotion and passion that is coming out on issues.
That are occurring in very difficult times very unusual times.
I think what sets of sides and I think of the uncertainty is taking out our -- sort of another way of saying it the fear of the unknown.
Is taking out of a lot of the decisions that are being made are not being made I think you're gonna see the recovery be a lot better than people think that it is.
-- we were speaking with the Charlie Gasparino here a moment ago about how.
The big Wall Street banks -- -- trading on -- really succeeding in this rate environment.
And the regional banks are really struggling are you and even if you weren't why is that the case.
Well no we're not struggling.
You know right at that your got -- you made a good point it would be great.
We -- turn on the news -- not talk about how traders are making money off of the that this economy.
And more importantly what are we doing to loan money to small businesses and businesses -- throughout the United States where you know where the meat.
Of this economy really resides and so but.
Then Umpqua Bank no we aren't lending money we are around well ahead of schedule.
For what we thought we lend out the this year keep in mind even in the difficult times -- was loaning out in excess one and a half billion dollars.
On an annual basis we have recently announced we have another billion dollars that -- to -- loan to small businesses in the footprint that we serve.
So it is it is happening.
That is happening.
Why are you able to do in so many other regionals are struggling right now in terms of making loans I know there's a demand side of that equation as well with so many regionals are saying look.
I just can't afford I've got to keep this capital and else.
Well you know I think that's a good point and I think you're you're you're right on the money.
One of things that we did about eighteen months ago.
When we started to see light at the end of the tunnel when it came to what was going on with credit quality with an industry in -- specifically.
Aimed at Umpqua Bank where we were doing.
Very well we saw.
Where we were going to emerge from this downturn probably stronger if not.
Better faster than most of -- appears that we actually started building momentum about eighteen months ago and other words.
If community banks -- regional banks believe that we're gonna grow loans with existing resources they had before this recessionary period took place.
I think -- -- for a surprise that's not gonna happen the way they think it is.
We started the building the expansion of our commercial lending teams eighteen months ago it's taken about a year or so for those teams to get.
Built their pipelines to introduce themselves and under the into the new markets that we -- our -- and is paying off so we do expect loan growth.
And now we're looking forward -- that to reoccur throughout the rest of this year -- we appreciate you as a resource he was regional banks.
We'll chat with you down the road.
A nice chatting with you thank you -- -- -- -- -- -- --
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