Columbia Banking Systems Inc - COLB STOCK NEWS

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.

Columbia Bank (NASDAQ: COLB) announced it will provide $100,000 in one-time grants through the Warm Homes campaign, supporting four organizations focused on affordable housing in the Pacific Northwest and Northern California. Each organization, including Jesse Tree and Homes for Good, will receive $25,000. Over four years, the Warm Homes initiative has distributed a total of $425,000. Columbia Bank aims to combat homelessness while enhancing community housing solutions.

Columbia Bank opens its second FinancialHub in Bellevue, Washington, designed to enhance community engagement while offering comprehensive banking services. The facility incorporates modern technology, ensuring client comfort and facilitating personal interactions. With features like self-service kiosks and mobile banking options, it stands as a dual-purpose community space for socializing and financial planning. This innovative approach aims to solidify Columbia's commitment to the local economy, hosting seminars and cultural events starting in May 2022, thus reinforcing its role in the thriving Bellevue community.

Columbia Banking System reported a strong first quarter 2022 with a net income of $57.5 million and diluted earnings per share of $0.74, despite a $0.07 per share impact from acquisition-related expenses. The company achieved record non-PPP loan production of $464.2 million, and deposits rose by $289.1 million. The net interest margin increased to 3.12%. A regular cash dividend of $0.30 per share will be paid on May 18, 2022, to shareholders of record by May 4, 2022.

Columbia Banking System (NASDAQ: COLB) will report its first-quarter 2022 financial results on April 21, 2022, before market opening. Management will host a conference call at 11:00 a.m. PT to discuss the results, accessible via web event or dial-in. The call replay will be available starting April 22, 2022. Columbia is recognized for its workplace culture and has been listed among Forbes 'America's Best Banks' for nearly 11 consecutive years. Investors are advised to consult SEC reports for risks associated with forward-looking statements.

Columbia Bank has appointed Lynne Nelson as Senior Vice President and Business Development Officer for its Healthcare Banking team in Washington and Northern Idaho. With nearly 10 years in banking and over six years in healthcare banking at Columbia, Nelson aims to enhance brand recognition and foster business relationships within the medical, dental, and veterinary communities. She previously co-founded Practice Management Associates, guiding professionals in practice transitions. Columbia Bank, headquartered in Tacoma, Washington, is recognized for excellence in the banking sector.