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Columbia Banking Systems Inc. (Nasdaq: COLB) is a prominent regional bank holding company headquartered in Tacoma, Washington. Through its wholly-owned subsidiary, Columbia State Bank, and additional divisions under the Umpqua Bank brand, Columbia offers a comprehensive range of banking services to small and medium-sized businesses, professionals, and individuals across Washington, Oregon, Idaho, California, Nevada, Utah, Arizona, and Colorado. As of 2023, the bank boasts assets exceeding $50 billion, making it one of the largest banks headquartered in the Western U.S.
Formed from the merger of Columbia State Bank and Umpqua Holdings Corporation in March 2023, Columbia Banking Systems stands out due to its hybrid model of delivering sophisticated financial solutions and maintaining a strong commitment to personalized service and community engagement. The bank operates more than 150 branches and provides services such as retail and commercial banking, Small Business Administration (SBA) lending, institutional and corporate banking, equipment leasing, and wealth management.
Columbia has garnered numerous accolades, including a consistent presence on Forbes' list of America's Best Banks and recognition by the Puget Sound Business Journal as one of
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Columbia Banking System, Inc. (COLB) announces a quarterly cash dividend of $0.36 per common share, showcasing the company's strong financial position and commitment to returning capital to shareholders.
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Columbia Banking System, Inc. reported net income of $94 million, or $0.45 per diluted common share, and operating net income of $91 million, or $0.44 per diluted common share for the fourth quarter of 2023. The company also achieved consolidated asset balances of $52 billion, loan balances of $37 billion, and deposit balances of $42 billion at quarter end. The estimated CET1 and total capital ratios were 9.6% and 11.8% at quarter end. The net interest income decreased to $454 million, and the net interest margin was 3.78%, down 13 basis points from the prior quarter. Non-interest income increased by $22 million, and non-interest expense increased by $33 million, driven by a recorded $33 million expense for the special assessment from the FDIC. The allowance for credit losses was $464 million, and the provision for credit losses was $55 million. The book value per common share increased to $23.95, and the tangible book value per common share increased to $16.12.
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Columbia Banking System, Inc. (COLB) will release its fourth quarter 2023 financial results on January 24, 2024, after market close. The company will host a conference call for investors and analysts to discuss its recent activities and financial results. Participants can register for the call and join the audiocast using the provided links.
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Umpqua Bank and Columbia Banking System (Nasdaq: COLB) announced $1 million in local grants to nonprofit recipients in honor of their 70th and 30th anniversaries, supporting communities in South Puget Sound, Portland Metro, and Douglas County Oregon. The merger of Umpqua Bank and Columbia Bank earlier this year formed a leading western bank and a top 30 bank in the U.S.
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Umpqua Bank (UMPQ) launches Warm Hearts Winter Drive to support individuals and families struggling with access to housing and basic resources. The campaign involves 5,000 associates and 300 branches to raise funds and collect winter clothing for shelters and aid organizations. The initiative expands to support over 100 organizations in Oregon, Washington, California, Idaho, Nevada, and Utah. Since its inception in 2015, the campaign has raised over $2 million in contributions.
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Columbia Banking System, Inc. (COLB) Announces $0.36 Quarterly Cash Dividend
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Umpqua Bank, a subsidiary of Columbia Banking System Inc., has added two wine industry banking experts to lead its North Coast Wine Specialty Group. Corey Dahline has been appointed senior vice president, commercial relationship manager to lead the wine-focused commercial banking team, while Greg Newall will serve as private bank market leader. This move reflects Umpqua's commitment to supporting the financial needs of wine-related enterprises and providing holistic financial solutions for their owners and employees.
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Umpqua Bank opens its first retail branch in Utah to support the banking needs of consumers and businesses in the Salt Lake City Metro Area.
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Columbia Banking System, Inc. reports third quarter 2023 results with net income of $136 million and operating net income of $164 million. Consolidated asset balances at $52 billion, loan balances at $37 billion, and deposit balances at $42 billion. Estimated CET1 and total capital ratios at 9.4% and 11.5% respectively.
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Columbia Banking System, Inc. will release Q3 2023 financial results on October 18, 2023. Conference call for investors and analysts at 2:00 p.m. PT. Joining details in the PR.
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FAQ
What is the current stock price of Columbia Banking Systems (COLB)?
The current stock price of Columbia Banking Systems (COLB) is $27.11 as of January 3, 2025.
What is the market cap of Columbia Banking Systems (COLB)?
The market cap of Columbia Banking Systems (COLB) is approximately 5.6B.
What services does Columbia Banking Systems Inc. offer?
Columbia Banking Systems Inc. offers retail and commercial banking, SBA lending, institutional and corporate banking, equipment leasing, and wealth management services.
How large is Columbia Banking Systems Inc.?
As of 2023, Columbia Banking Systems Inc. has assets exceeding $50 billion, making it one of the largest banks headquartered in the Western U.S.
Where is Columbia Banking Systems Inc. headquartered?
Columbia Banking Systems Inc. is headquartered in Tacoma, Washington.
What recent achievements has Columbia Banking Systems Inc. accomplished?
Columbia Banking Systems Inc. successfully completed a merger with Umpqua Holdings Corporation in March 2023 and opened its first retail branch in Utah. The bank also achieved significant merger-related cost savings.
What recognition has Columbia Banking Systems Inc. received?
Columbia Banking Systems Inc. has been consistently listed on Forbes' America's Best Banks and recognized by the Puget Sound Business Journal as one of Washington's Best Workplaces for nine consecutive years.
What is the Business Barometer study by Umpqua Bank?
The Business Barometer study by Umpqua Bank is an annual examination of the mood, mindset, and strategic priorities of small and middle-market businesses across the U.S., highlighting trends like digitization and cybersecurity.
How did Columbia Banking Systems Inc. perform financially in Q4 2023?
In Q4 2023, Columbia Banking Systems Inc. reported net interest income of $454 million and a net interest margin of 3.78%. Total consolidated assets were $52.2 billion as of December 2023.
What regulatory measures does Columbia Banking Systems Inc. adhere to?
Columbia Banking Systems Inc. adheres to rigorous regulatory compliance, risk management practices, and forward-looking strategies to navigate economic challenges effectively.
What is the target of Columbia's operational excellence initiatives?
Columbia's operational excellence initiatives aim to enhance efficiency, reduce uncertainties, and ensure robust financial health and shareholder value.
Where can I learn more about Columbia Banking Systems Inc.?
You can learn more about Columbia Banking Systems Inc. at their official website: www.columbiabankingsystem.com.
Columbia Banking Systems Inc
Nasdaq:COLB
COLB Rankings
COLB Stock Data
5.55B
208.07M
0.68%
95.26%
2.37%
Banks - Regional
State Commercial Banks
United States of America
TACOMA