Columbia Bank Stock Price, News & Analysis

Columbia Bank has promoted Heather Seppa to Market Region Manager for the Columbia/Willamette market in Oregon, effective December 22, 2021. Seppa, a 17-year veteran of the bank with over 30 years in the financial services sector, previously managed the Oregon Coast/Southwest Washington region. Her leadership is recognized for delivering exceptional results and enhancing customer relations. Columbia Bank has been acknowledged as one of Forbes 'America's Best Banks' for 10 consecutive years and is headquartered in Tacoma, Washington.

Columbia Bank, located in Tacoma, Washington, has launched its seventh annual Warm Hearts Winter Drive to support individuals facing homelessness. This initiative, which began in 2015, aims to raise over $250,000 and collect thousands of warm clothing items for over 65 local shelters across Washington, Oregon, Idaho, and now Northern California. The drive's expansion follows Columbia's recent acquisition of Merchants Bank of Commerce in Sacramento, marking its entrance into California. To date, the program has raised nearly $1.5 million in donations.

Columbia Banking System reported a strong third quarter 2021, with a net income of $53.0 million and diluted earnings per share of $0.74. Total loans increased by $183.2 million, and deposits grew by $608.0 million, reflecting robust loan production of $366.2 million. The net interest margin stood at 3.17%, stable from the previous quarter. Nonperforming assets to total assets ratio improved to 0.13%. Columbia announced a merger with Umpqua Holdings, creating the second largest regional bank on the West Coast.

Columbia Banking System (NASDAQ: COLB) will report its third quarter 2021 financial results on October 28, 2021, ahead of the market opening. A conference call to discuss these results is scheduled for 10:00 a.m. PT (1:00 p.m. ET). Investors can join via a webcast or a toll-free call using the provided conference ID. Columbia, recognized for outstanding customer satisfaction and workplace environment, is a full-service commercial bank operating in Washington, Oregon, Idaho, and California.

Columbia Banking System and Umpqua Holdings Corporation have announced a definitive agreement for an all-stock merger, approved by both companies' boards. Umpqua shareholders will receive 0.5958 shares of Columbia stock per Umpqua share. Post-merger, Umpqua shareholders will own approximately 62% and Columbia shareholders 38% of the new entity, which will have over $50 billion in assets. This merger aims to create a leading West Coast bank with improved profitability, earning accretion, and a diversified revenue mix, and is expected to close in mid-2022.

Columbia Banking System and Umpqua Holdings Corporation announced a definitive agreement for an all-stock merger. Umpqua shareholders will receive 0.5958 shares of Columbia for each Umpqua share, resulting in Umpqua shareholders owning about 62% of the combined entity. The merger aims to create a leading West Coast bank with over $50 billion in assets and enhance market share in key areas like Seattle and Portland. Projected financial benefits include significant earnings accretion, improved profitability, and around $1.1 billion in value creation through cost synergies.

Columbia Banking System completed its acquisition of Bank of Commerce Holdings, marking its first physical presence in California. Bank of Commerce shareholders received 0.40 shares of Columbia for each share held, totaling approximately $256 million in stock. Post-acquisition, Columbia Bank holds over $20 billion in assets and 150 branches across four states. CEO Clint Stein expressed excitement about this expansion, enhancing the bank's regional presence. Columbia plans to support local businesses with $500,000 as part of its Pass It On Project, aiding recovery from recent challenges.

Columbia Banking System, based in Tacoma, Washington, has announced a quarterly cash dividend of $0.30 per common share, scheduled for payment on October 27, 2021. This marks an increase from the previous dividend of $0.28 per share. Shareholders of record must hold shares by the close of business on October 13, 2021. Columbia Banking is known for its strong performance, having been recognized for customer satisfaction and as one of Washington's Best Workplaces.

Columbia Banking System (COLB) and Bank of Commerce Holdings (BOCH) announced the approval of their merger after receiving regulatory nods and overwhelming shareholder support. As of September 21, 2021, 98% of Bank of Commerce shareholders voted in favor, constituting over 63% of outstanding shares. The merger, initially disclosed on June 23, 2021, is slated for completion around October 1, 2021. Columbia's CEO highlighted effective collaboration between teams, while Bank of Commerce's CEO expressed enthusiasm for expanding client solutions.