Columbia Bank Stock Price, News & Analysis

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.

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.