M&A - COLUMBIA BANKING SYSTEM, INC.

Form Type: 8-K

Filing Date: 2025-04-02

Corporate Action: Merger

Type: Update

Accession Number: 000088734325000143

Filing Summary: On March 30, 2025, Columbia Banking System, Inc. announced that Cort O’Haver will no longer serve as Executive Chair effective March 31, 2025. O’Haver's position was initially established to facilitate the merger between Columbia Banking System and Umpqua Holdings Corporation. The board of directors concluded that the integration has been successfully achieved, allowing for the elimination of the Executive Chair role. O’Haver will also resign from the board and from any role within the company and its subsidiaries. He is entitled to severance benefits for his involuntary termination without cause, subject to compliance with specific obligations. Maria Pope has been elected as the new independent, non-executive Chair of the board, effective April 1, 2025. On April 2, 2025, a press release was issued regarding these developments, which is included as Exhibit 99.1.

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Form Type: 10-K

Filing Date: 2025-02-25

Corporate Action: Merger

Type: Update

Accession Number: 000088734325000054

Filing Summary: Columbia Banking System, Inc. has filed its 10-K for the fiscal year ending December 31, 2024. The document includes a detailed overview of the company’s performance, financial position, and significant occurrences during the year. Notably, the merger with Umpqua Bank, which took effect in early 2023, is highlighted as a major transformative event, enhancing the bank's market presence and operational capacity. The financial results reflect growth in asset totals, along with operational and noninterest income bolstered by the merger integration. The report also discusses various financial metrics, regulatory compliance, risk management strategies, and plans for future growth. Furthermore, it emphasizes the company’s commitment to community service and responsible banking as part of its corporate governance. The document concludes with standard disclosures regarding the company’s management, risks, and outlook for the upcoming fiscal year.

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