Company Profile
- In February 2023, Tacoma, WA-based Columbia Banking System, Inc. and Portland, OR-based Umpqua Holdings Corporation (“UMPQ”), completed an all-stock merger creating a formidable western U.S. banking franchise.
- The combined organization consists of the BHC, Columbia Banking System, Inc. (NASDAQ: “COLB”, or “the company”), and the combined subsidiary banking units of each company, consolidated within Umpqua Bank (“the bank”), which traces its banking history to 1953. The bank operates about 300 banking offices principally in OR and WA, where it holds leading deposit market shares, CA, and in select markets in AZ, CO, ID, NV, and UT.
- The company offers an array of traditional commercial and retail products and services including treasury management and residential mortgage loan servicing. The loan portfolio is skewed to CRE and residential mortgage (NOO CRE, multi-family, and residential RE constitute 54% of total loans), although the already…