Columbia Bank Stock Price, News & Analysis

Umpqua Bank has launched its 10th Annual Warm Hearts Winter Drive, a community campaign aimed at supporting individuals, families, and youths facing housing challenges. The initiative, involving 4,800 associates and nearly 300 branches, seeks to collect winter items and raise funds for shelters across six states.

Last year's drive raised $365,000 for over 100 shelter partners and nonprofits across Oregon, Washington, California, Idaho, Nevada, and Utah. Since its 2015 inception, the campaign has generated nearly $2.5 Million in funds and resources.

Donations can be made through WarmHeartsWinterDrive.com or at local Umpqua Bank branches, with 100% of contributions directly supporting local shelters and aide organizations in their respective communities.

Columbia Banking System (Nasdaq: COLB), parent company of Umpqua Bank, has declared a quarterly cash dividend of $0.36 per common share. The dividend will be paid on December 16, 2024, to shareholders of record as of November 29, 2024. This announcement follows the Board of Directors' approval of the quarterly dividend payment.

Columbia Banking System reported Q3 2024 results with net income of $146 million and earnings per diluted share of $0.70. Net interest income increased by $3 million from the previous quarter, while net interest margin remained stable at 3.56%. The company achieved a 25% reduction in costs over 18 months of combined operations. Non-interest income rose by $21 million, primarily due to fair value accounting and hedges. The bank maintained strong capital positions with an estimated total risk-based capital ratio of 12.5% and common equity tier 1 ratio of 10.3%. Total assets stood at $51.9 billion, with loans at $37.5 billion and deposits at $41.5 billion.

Columbia Banking System, Inc. (Nasdaq: COLB), parent company of Umpqua Bank, has announced the release date for its third quarter 2024 financial results. The results will be disclosed on Thursday, October 24, 2024, before the market opens. Following this, the company will host a conference call for investors and analysts at 8:30 a.m. PT (11:30 a.m. ET) on the same day.

During the call, management will discuss Columbia's Q3 2024 financial results and provide updates on recent activities. A live question-and-answer session will follow the presentation. Participants can register for the call or join the listen-only audiocast. It is recommended to join 10 minutes before the start time. A replay of the call will be accessible through the company's investor relations page.

Umpqua Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), has announced its expansion in Arizona with two new branch openings in Phoenix and Scottsdale, and a third location planned in Mesa for early 2025. This move follows the bank's successful launch of middle market banking in Arizona in 2021 and recent retail banking expansion in Utah. The expansion aligns with Umpqua's strategy to grow in markets with strong potential and become the West's premier bank of choice.

The Phoenix branch, opened in June, is led by Melinda Santacruz, while the Scottsdale branch, opened in August, is managed by Britne Corkill. Both locations operate Monday through Friday, 9 am to 5 pm. As part of its community involvement, the Umpqua Bank Charitable Foundation has contributed $60,000 to six local nonprofit partners in Arizona.

Umpqua Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), has expanded its North Coast Wine Specialty Group by hiring six experienced bankers from First Republic Bank. Led by Corey Dahline (commercial banking) and Greg Newhall (private banking), this strategic move aims to enhance services for small and midsize wineries and their owners across Northern California.

The new team includes Christian Willard, Erica Carrillo-Ramirez, Jon O'Halloran, Krista Carrillo, Nick Fadelli, and Erica Eichhorn, bringing expertise in commercial and private banking, portfolio management, and branch operations. This expansion underscores Umpqua Bank's commitment to becoming the preferred bank for the wine industry within its footprint, supporting one of Northern California's important agricultural sectors.

Columbia Banking System (Nasdaq: COLB) has announced its participation in the Barclays 22nd Annual Global Financial Services Conference. The event is set for September 10, 2024, with President and CEO Clint Stein scheduled to present at 12:00 p.m. ET.

This conference provides a platform for Columbia to showcase its financial services and strategies to a global audience. Investors and interested parties will have access to an audiocast and replay of the presentation, which may include forward-looking statements about Columbia's operations, financial performance, and business outlook.

Columbia Banking System's participation in this high-profile event underscores its commitment to transparency and engagement with the financial community. It also offers an opportunity for the company to highlight its recent developments and future plans in the banking sector.

Columbia Banking System (Nasdaq: COLB), the parent company of Umpqua Bank, has announced a quarterly cash dividend of $0.36 per common share. This dividend is set to be paid on September 9, 2024, to shareholders of record as of August 23, 2024. The announcement demonstrates Columbia's commitment to providing regular returns to its shareholders, which may be seen as a positive sign of the company's financial health and confidence in its future performance.

Columbia Banking System (COLB) reported Q2 2024 results with net income of $120 million and operating net income of $140 million. Earnings per diluted share were $0.57, while operating EPS reached $0.67. The company saw improvements in financial performance, with net interest income expanding by $4 million quarter-over-quarter and net interest margin increasing to 3.56%. Non-interest expense decreased by $8 million due to lower compensation and other factors. Credit quality remained stable with net charge-offs at 0.32% of average loans. The company maintained strong capital ratios with an estimated total risk-based capital ratio of 12.1% and declared a quarterly cash dividend of $0.36 per share.