Columbia Bank Stock Price, News & Analysis

Columbia Banking System and Umpqua Holdings Corporation have received FDIC approval for their merger, marking a significant milestone. This approval was the last necessary regulatory clearance, paving the way for the merger's completion by the end of February 2023. The combined entity will manage over $50 billion in assets, enhancing its presence across eight western states. Both companies have secured all required shareholder approvals. Columbia will operate under its name, while Umpqua Bank will retain its branding. The merger aims to unlock value for customers and shareholders alike.

Columbia Banking System is divesting three branches in Northern California to comply with the U.S. DOJ requirements related to its merger with Umpqua Holdings Corporation. The branches, containing approximately $128 million in deposits and $4 million in loans, will be sold to First Northern Bank. This transaction is expected to close in Q1 2023, pending regulatory approval. All employees will be retained by First Northern, and operations at these branches will continue. Columbia aims to serve the Northern California market through Umpqua Bank branches post-merger.

Columbia Banking System (NASDAQ: COLB) has announced the divestiture of seven branches in Washington and Oregon to 1st Security Bank (NASDAQ: FSBW) as part of a compliance requirement from the U.S. Department of Justice (DOJ) necessary for their pending merger with Umpqua Holdings. The deal involves approximately $510 million in deposits and $76 million in loans. The sale is set to finalize in the first quarter of 2023, subject to regulatory approvals. Retaining all employees, the transition aims to maintain service continuity for customers.

Columbia Bank, a subsidiary of Columbia Banking System, Inc. (NASDAQ: COLB), announced the expansion of its Commercial Lending Division into Arizona with the hiring of veteran banker Ryan Summers. With 14 years of experience, Summers will lead a team focused on providing comprehensive business lending services to small and medium-sized businesses. CEO Clint Stein emphasized that this move is part of Columbia's strategy to establish a premier regional bank in the West. The expansion aims to serve the dynamic Arizona market, enhancing local decision-making and leveraging Columbia's resources and technology.

Columbia Banking System (COLB) announced record quarterly net income of $64.9 million for Q3 2022, with a diluted earnings per share of $0.83. The net interest margin improved to 3.47%, driven by increased loan interest income. Total loans rose by 13% annualized, reaching $11.69 billion. Nonperforming assets fell to a historic low of 0.07% of total assets. Despite a decrease in total assets and deposits, the company is optimistic about ongoing merger integration with Umpqua Holdings.

Columbia Banking System (NASDAQ: COLB) has declared a quarterly cash dividend of $0.30 per common share, payable on October 28, 2022, to shareholders on record as of October 17, 2022. The bank will also release its third-quarter 2022 financial results before the market opens on October 20, 2022, with a conference call scheduled for 11:00 a.m. PT on the same day.

Headquartered in Tacoma, WA, Columbia holds a strong reputation as one of America’s best banks, recognized by Forbes.

Columbia Banking System reported a net income of $58.8 million for Q2 2022, yielding a diluted EPS of $0.75, affected by merger-related expenses. The company achieved record non-PPP loan production of $734.4 million and saw loans increase 21% annualized to $11.32 billion. The net interest margin improved to 3.16%, while nonperforming assets ratio decreased to 0.08%. A cash dividend of $0.30 per share is set for August 17, 2022.

Columbia Bank has announced its expansion into Utah with the hiring of experienced bankers Jeffrey Thomas and James Divver. This move supports Columbia’s strategy to enhance its Business Lending Division and will allow the bank to serve Utah's growing business community. Both executives bring over 20 years of local banking experience and will lead efforts to establish a full suite of lending services. Columbia aims to capitalize on Utah's robust economy, noted for its rapid growth and high quality of life.

Columbia Banking System (NASDAQ: COLB) will release its second quarter 2022 financial results before the market opens on July 21, 2022. Management will hold a conference call on the same day at 11:00 a.m. PT to discuss the results. Interested parties can join the call via registration or access the webcast. A replay will be available from July 22, 2022. Columbia, headquartered in Tacoma, Washington, is recognized as one of America's Best Banks by Forbes, indicating its stability in the financial sector.