Welcome to our dedicated page for Columbia Bank news (Ticker: COLB), a resource for investors and traders seeking the latest updates and insights on Columbia Bank stock.
Columbia Banking System, Inc. (Nasdaq: COLB) delivers comprehensive financial services through its Umpqua Bank subsidiary across the Northwestern and Western United States. This news hub provides investors and stakeholders with essential updates on the regional banking leader’s strategic initiatives and market developments.
Access timely press releases covering earnings reports, merger integrations, technology investments, and community programs. Our curated collection helps track COLB’s performance in commercial lending, wealth management innovations, and regional expansion efforts.
Key updates include regulatory filings, leadership announcements, and service enhancements across personal banking, business solutions, and trust services. Bookmark this page to monitor Columbia Bank’s progress in maintaining cost efficiencies while expanding its footprint in high-growth Western markets.
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.
Columbia Banking System, the parent company of Umpqua Bank, has announced the release date for its second quarter 2024 financial results. The results will be made public on July 25, 2024, after market close.
A conference call is scheduled for the same day at 2:00 p.m. PT (5:00 p.m. ET) where management will discuss the financial results and recent activities. The call will include a live question-and-answer session. To participate, investors and analysts need to register for unique dial-in details or opt for the listen-only audiocast.
The replay of the call will be available on Columbia's investor relations page under the “News & Market Data-Event Calendar” section.
The 2024 Umpqua Bank Business Barometer reveals a growing optimism gap between middle market companies and small businesses in the U.S. Middle market firms, defined as those with $10M-$500M in annual revenue, show a 68% optimism rate, the highest in six years, and plan significant investments in digitization, AI, and expansion. In contrast, small businesses exhibit cautious sentiment, with only 29% optimistic about the economy and plans for growth remaining muted due to ongoing cost pressures. Key findings highlight that 70% of middle market firms expect increased demand, 60% foresee greater profitability, and 88% plan to invest in digitization. Conversely, small businesses report low expectations for demand (43%) and profitability (38%), and growth plans. The study, conducted from April 22 to May 2, 2024, underscores the resilience and strategic readiness of middle market firms compared to the cautious stance of small businesses.
Columbia Banking System, parent company of Umpqua Bank, declared a quarterly cash dividend of $0.36 per common share. The dividend will be paid on June 10, 2024, to shareholders of record as of May 24, 2024.
Umpqua Bank, a subsidiary of Columbia Banking System Inc. (Nasdaq: COLB), has been named the best U.S. regional bank in the Far West by Global Finance. The recognition is based on factors like financial performance, customer satisfaction, and shareholder returns. Umpqua was part of five top regional banks in the 2024 rankings, operating across eight states. The bank's transformational merger in 2023 with Umpqua Holdings created one of the largest banks in the West. The CEO, Clint Stein, attributes the success to the bank's dedicated associates and commitment to customer success. The complete list of recognized banks can be found on GFMag.com.
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