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Ray Davis, Umpqua Bank CEO, on how the bank is preparing for the economic recovery and continuing expansion.
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As ray Davis CEO and president of Umpqua Bank re welcome back to the show.
Let me first ask you what -- -- -- six months out what are your hiring plans here for the duration of the year.
Well we've been a growth story -- for the last fifteen years we are not changing our strategy.
I think about a year and a half ago we really started to see light at the end of the tunnel as far as the economy was concerned.
We started taking actions making moves to.
Create momentum within our company so when the economy actually -- to bubble up again.
That we are we come out of this is faster or if not faster the most of our competitors.
In the markets that we serve so we are expanding.
And we're expanding as fast as we can't.
-- -- the problem is one of the challenges in the job market is the fact that small business in particular is -- taken and a lot of loans and -- in SEC don't have a lot of loan demand.
And for those businesses who are seeking credit team did the restrictions are are pretty tough or tougher than they used to pieces smaller -- -- more of a regional area.
What kind of loan demand are you seeing for business because that's really key to creating jobs.
We another loan demand is down from when it was a number a years ago when the economy it was more robust.
But I can tell you that the loan pipeline that Umpqua Bank now has is well over a one point seven billion.
Dollars with a B.
And growing and the reason it's growing is because we've been added -- adding resources in new markets where there is potential for growth.
You know it's easy to say that things are difficult it's easy to be negative it's a safe play.
It's much harder I think can risk here to say no we're gonna step out and do what we think is right.
So we can add increase shareholder value and -- -- bank is gonna take a little bit more about.
Maybe able -- rougher road but it's going to be one that I think is an advance this company ultimately for the short term and long term.
But we're certainly hopeful for you ray Davis thinks the snapshot of your industry.
Thank you.
-- -- -- much more here on the markets market's reaction to the dismal.
