Umpqua Bank Subsidiary Financial Pacific Leasing Names Terey Jennings President
PORTLAND, Ore., Feb. 20, 2019 /PRNewswire/ -- Umpqua Bank announced today that Terey Jennings has been promoted to president of Financial Pacific Leasing, the bank's commercial equipment financing arm. In his new role, Jennings will oversee all aspects of the Federal Way-based company, including origination channels, credit and operations, and portfolio servicing. He previously served as Financial Pacific Leasing's executive vice president and general manager.
Jennings promotion is the latest advancement in a career at Financial Pacific Leasing that spans more than 30 years. He was instrumental in building the company's origination model and vendor finance platform, which fueled rapid growth and quintupled its asset size to $1.5 billion over a five-year period.
"Few people have the depth of knowledge and expertise in the commercial equipment space that Terey brings to our company and customers," said CEO Paul Menzel. "He's been a tremendous part of our growth over the years and will continue providing the kind of leadership that makes us a financing partner of choice for businesses looking to expand their capabilities."
Financial Pacific Leasing originates and services a portfolio of equipment leases, helping companies grow by financing their acquisition of new and used equipment. Started in 1975, the company was acquired by Umpqua Bank in 2013 and has been a key component to the bank's growth and success in banking small to medium-size companies.
Jennings, who joined Financial Pacific Leasing in 1986, is active in a number of equipment leasing associations and is a past president of the United Association of Equipment Leasing. He serves on the Pierce County Board of Directors of Junior Achievement of Washington. He is a Certified Leasing & Finance Professional since 1998.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation, and has locations across Idaho, Washington, Oregon, California and Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for eight years in a row on FORTUNE magazine's list of the country's "100 Best Companies to Work For," and was recently named by The Portland Business Journal the Most Admired Financial Services Company in Oregon for the thirteenth consecutive year. In addition to its retail banking presence, Umpqua Bank also owns Financial Pacific Leasing, Inc., a nationally recognized commercial finance company that provides equipment leases to businesses. A subsidiary of Umpqua Holdings Corporation, Umpqua Investments, Inc., provides retail brokerage and investment advisory services in offices throughout Washington, Oregon, and California.
About Financial Pacific Leasing
Financial Pacific Leasing was established in 1975 in Federal Way, Washington. Over the years, the company has expanded its services to become an industry leader in providing commercial equipment financing in the U.S. In 2013, Financial Pacific Leasing joined Umpqua Bank to further diversify and grow the bank's lending platform. The company's growth and success are supported by a staff of over 150 highly qualified and experienced employees.
SOURCE Umpqua Holdings Corporation
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