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Recovery slow for recession-battered banking industry | Taking Stock

 


The Great Recession hit the economy hard, and no sector was hurt more than banking.

Washington's largest bank disappeared, and all of the largest banks headquartered in Snohomish County were absorbed by bigger, out-of-area banks.

Historically, Seattle has been the banking center of the Northwest, but now the biggest Northwest bank is Umpqua Bank of Roseburg, Oregon, which is nearing $25 billion in assets.

I would have expected a Portland bank to take the lead, considering the nearly two-century rivalry between Portland and Seattle. Wrong. 15 banks in Oregon are bigger than the larges...



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