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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
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.
Columbia Banking System, Inc. (NASDAQ: COLB) will report its first-quarter 2021 financial results before the market opens on April 29, 2021. A conference call to discuss these results is scheduled for 10:00 a.m. PT (1:00 p.m. ET) on the same day. Interested parties can join via a webcast or dial in using the toll-free number (833) 301-1160 with the conference ID 2249249. Columbia is recognized for its customer service, having received top rankings in customer satisfaction and named one of Washington's Best Workplaces.
Columbia Banking System reported a strong financial performance for Q4 and FY 2020, achieving a net income of $154.2 million and diluted earnings per share of $2.17. The fourth quarter net income was $58.3 million with earnings per share of $0.82. Deposits rose by $269.6 million in Q4 and $3.19 billion year-over-year. The company declared a regular cash dividend of $0.28 per share, payable on February 24, 2021. Overall, the bank's total assets increased to $16.58 billion with a stable net interest margin of 3.52%.
Columbia Banking System (NASDAQ: COLB) will announce its fourth quarter and full-year 2020 financial results on January 28, 2021, before market opens. A conference call discussing these results is scheduled for 10:00 a.m. PT (1:00 p.m. ET). Interested participants can join via a live-streamed web event or a toll-free dial-in. Columbia Bank is recognized for its customer satisfaction, ranking #1 in the Northwest by J.D. Power in 2020. The bank has been listed as one of Washington's Best Workplaces multiple times and is noted for its stability in the banking sector.
Columbia Bank raised $315,025 during its sixth annual Warm Hearts Winter Drive, benefiting over 65 homeless shelters in the Northwest. Since 2015, the initiative has collected nearly $1.5 million in donations, including thousands of warm clothing items. The drive saw participation from customers, employees, and community members across Washington, Oregon, and Idaho. Columbia's CEO, Clint Stein, emphasized the program's significance, especially during the pandemic. The bank has consistently received high rankings for customer satisfaction and workplace quality.
Columbia Banking System (NASDAQ: COLB) announced the appointments of Laura Alvarez Schrag and Tracy Mack-Askew to its Board of Directors, effective January 1, 2021. Their expertise in organizational development and operations is expected to enhance Columbia's strategic direction. Alvarez Schrag, with a background in human resources and consulting, and Mack-Askew, who specializes in operations for Daimler Trucks North America, bring valuable leadership experience from various sectors. Columbia is recognized for its strong community ties and commitment to customer satisfaction in the Northwest.
Columbia Bank has appointed Clint Gillum as the new SVP, Retail Market Manager for the Inland Northwest, covering eastern Washington, eastern Oregon, and northern and southern Idaho. Gillum brings over 16 years of experience from Wells Fargo, where he held various leadership roles. He holds a background in business management and finance from the University of Washington and is actively engaged in his community. Columbia Bank, headquartered in Tacoma, Washington, has been recognized for its customer satisfaction and commitment to the community.
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