Welcome to our dedicated page for Columbia Bank news (Ticker: COLB), a resource for investors and traders seeking the latest updates and insights on Columbia Bank stock.
Columbia Banking System, Inc. (Nasdaq: COLB) delivers comprehensive financial services through its Umpqua Bank subsidiary across the Northwestern and Western United States. This news hub provides investors and stakeholders with essential updates on the regional banking leader’s strategic initiatives and market developments.
Access timely press releases covering earnings reports, merger integrations, technology investments, and community programs. Our curated collection helps track COLB’s performance in commercial lending, wealth management innovations, and regional expansion efforts.
Key updates include regulatory filings, leadership announcements, and service enhancements across personal banking, business solutions, and trust services. Bookmark this page to monitor Columbia Bank’s progress in maintaining cost efficiencies while expanding its footprint in high-growth Western markets.
Columbia Banking System, based in Tacoma, Washington, has announced a quarterly cash dividend of $0.30 per common share, scheduled for payment on October 27, 2021. This marks an increase from the previous dividend of $0.28 per share. Shareholders of record must hold shares by the close of business on October 13, 2021. Columbia Banking is known for its strong performance, having been recognized for customer satisfaction and as one of Washington's Best Workplaces.
Columbia Banking System (COLB) and Bank of Commerce Holdings (BOCH) announced the approval of their merger after receiving regulatory nods and overwhelming shareholder support. As of September 21, 2021, 98% of Bank of Commerce shareholders voted in favor, constituting over 63% of outstanding shares. The merger, initially disclosed on June 23, 2021, is slated for completion around October 1, 2021. Columbia's CEO highlighted effective collaboration between teams, while Bank of Commerce's CEO expressed enthusiasm for expanding client solutions.
Columbia Bank has promoted Dave Hansen to Executive Vice President and Director of Retail Banking as of August 30, 2021. Hansen, who joined Columbia in 2013, has held various leadership positions in the Columbia-Willamette region. He previously served as interim retail banking director, successfully leading the team through the pandemic. Hansen's role focuses on enhancing the retail division and fostering a strong corporate culture. He is also a permanent member of the Operating Committee. Hansen graduated from Portland State University and is actively involved in the community.
Columbia Banking System reported Q2 2021 net income of $55 million, or $0.77 per diluted share, with total loans rising 10% annualized. Deposits grew by $578 million, reaching $15.35 billion, while net interest margin was 3.16%, down 15 basis points. Notably, Columbia announced a merger with Bank of Commerce Holdings, expanding into northern California. A regular cash dividend of $0.28 per share is set for August 25, 2021. The company maintained a strong credit quality with nonperforming assets at just 0.14% of total assets.
Columbia Banking System, Inc. (NASDAQ: COLB) will report its second quarter 2021 financial results on July 29, 2021, before the market opens. A conference call to discuss these results is scheduled for 10:00 a.m. PT (1:00 p.m. ET). Interested parties can join via webcast or dial-in at (833) 301-1160 with Conference ID 3667919. A replay of the call will be available starting July 30, 2021. Columbia has earned accolades for its customer satisfaction and has been recognized among Washington's best workplaces.
Columbia Bank, headquartered in Tacoma, Washington, has promoted Rachel Fischer to Senior Vice President and Director of Data, Model, and Cyber Risk Governance. With three years at the bank, Fischer has been instrumental in developing the model risk program and enhancing data culture. She aims to establish robust data management and governance while improving cybersecurity practices. Fischer holds a bachelor's degree in Chemistry and a master's in Economics, alongside Financial Risk Manager credentials. Columbia Bank has been recognized as one of America's Best Banks by Forbes for ten consecutive years.
Columbia Banking System (NASDAQ: COLB) has signed a definitive agreement to merge with Bank of Commerce Holdings (NASDAQ: BOCH) in an all-stock transaction valued at approximately $266 million, or $15.72 per share, marking Columbia's entry into the California market. The merger is expected to yield 3% and 4% earnings per share accretion in 2022 and 2023, respectively. Combined, they will operate over 150 branches and possess $19 billion in assets across Washington, Oregon, Idaho, and California. The transaction awaits regulatory and shareholder approval, expected to close in Q4 2021.
Columbia Bank has promoted Juancarlos Martinez to Senior Vice President and Chief Information Security Officer. With 17 years at Columbia Bank, including 15 in information security, Martinez is tasked with leading the growing Information Security Department. His promotion highlights the importance the bank places on security, especially as digital offerings expand. Martinez holds Certified Information Security Manager and Certified Information System Security Professional credentials, underscoring his expertise in safeguarding customer and bank data.
Columbia Bank has announced $75,000 in grants as part of its annual Warm Homes grant campaign. The funds, totaling $25,000 each, will support three organizations in Idaho, Oregon, and Washington focused on affordable housing solutions. Since the campaign's inception, Columbia has contributed over $300,000. The recipients include Jesse Tree, Community Supported Shelters, and The Coffee Oasis, all dedicated to preventing eviction and homelessness. Columbia Bank continues to demonstrate a commitment to addressing regional housing crises through innovative solutions.
Columbia Banking System reported a net income of $51.9 million and diluted earnings per share of $0.73 for Q1 2021. Net loans increased by $248.7 million (3%), while deposits surged by $897.6 million (6%). The net interest margin fell to 3.31%, down 21 basis points from the previous quarter. The ratio of nonperforming assets decreased to 0.20%. Additionally, the bank declared a regular cash dividend of $0.28 per share. CEO Clint Stein highlighted strong momentum in loan production and deposit inflows amid ongoing pandemic challenges.
