COLUMBIA BANK EXPANDS BUSINESS LENDING DIVISION INTO ARIZONA WITH KEY LEADERSHIP HIRE

Rhea-AI Summary

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.

Positive

• Expansion of Commercial Lending Division into Arizona.
• Hiring of experienced banker Ryan Summers to lead efforts.
• Focus on serving small to middle market businesses in Arizona.
• Enhancement of local decision-making and resources leveraging.

Negative

• None.

Veteran Banker Ryan Summers to Deliver Commercial Banking Services Across the Spectrum, from Small Businesses to Middle Market Companies

PHOENIX, Nov. 2, 2022 /PRNewswire/ -- Columbia Bank ("Columbia"), the wholly owned subsidiary of Columbia Banking System, Inc. (NASDAQ: COLB), today announced the expansion of its Commercial Lending Division into Arizona with the appointment of veteran Phoenix-area banker Ryan Summers.

Summers, with 14 years of commercial banking experience, will build a team dedicated to delivering the full suite of business lending services that Columbia offers across. The team will pair Columbia's resources, technology and breadth of services with deep Arizona market expertise and local decision-making to serve residents and businesses ― from small business owners to middle market companies.

"Expanding our commercial banking footprint into Arizona has been a long-standing strategic priority of ours. It allows us to serve the vibrant companies operating in this dynamic state, while also providing a one-stop shop for business owners with operations across the Western U.S.," said Clint Stein, president and CEO of Columbia. "We are building the premier regional bank in the West, and Arizona is a critical part of taking that vision and making it a reality."

Based in the Phoenix metro area, Summers joins Columbia as a senior vice president and Arizona commercial banking lead. Summers is an experienced banker with a deep knowledge of the cashflow issues businesses of all sizes face. Most recently, he was a senior vice president and business banking market leader for U.S. Bank in Arizona. Summers graduated magna cum laude from George Fox University in Oregon.

"Ryan is a high-caliber commercial banker that knows the Arizona market well and will add value to clients from the start," said Chris Merrywell, Columbia's Chief Operating Officer. "We plan to expeditiously build a team as we identify the best talent to serve this important market, beginning with a commercial lending office in Phoenix."

About Columbia

Headquartered in Tacoma, Washington, Columbia Banking System, Inc. (NASDAQ: COLB) is the holding company of Columbia Bank, a Washington state-chartered full-service commercial bank with offices throughout Washington, Oregon, California, Idaho and Utah. The bank has been named one of Puget Sound Business Journal's "Washington's Best Workplaces," more than 10 times. Columbia was named on the Forbes 2022 list of "America's Best Banks" marking 11 consecutive years on the publication's list of top financial institutions. More information about Columbia can be found on its website at www.columbiabank.com.

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SOURCE Columbia Bank

FAQ

What recent announcement did Columbia Bank make regarding its services in Arizona?

Columbia Bank announced the expansion of its Commercial Lending Division into Arizona with the appointment of Ryan Summers.

Who is Ryan Summers and what is his role at Columbia Bank?

Ryan Summers is the new commercial banking lead at Columbia Bank, with 14 years of experience in banking.

What is the significance of Columbia Bank's expansion into Arizona?

The expansion allows Columbia Bank to serve small and middle market companies in a dynamic state, aligning with its strategy to build a premier regional bank in the West.

What is the stock symbol for Columbia Banking System, Inc.?

The stock symbol for Columbia Banking System, Inc. is COLB.

What services will Columbia Bank offer in Arizona?

Columbia Bank will offer a full suite of business lending services to small business owners and middle market companies in Arizona.