Columbia and Umpqua Join in an All-Stock Combination
Columbia Banking System Inc., the parent company of Columbia State Bank, and Umpqua Holdings Corporation, the parent company of Umpqua Bank, have entered into a definitive agreement under which the companies will join together in an all-stock combination. Under the terms of the agreement, which was unanimously approved by the boards of directors of both companies, Umpqua shareholders will receive 0.5958 of a share of Columbia stock for each Umpqua share owned.
“This is a historic partnership that will enhance what both banks are able to do for clients, team members and communities, while driving significant value for our shareholders. Importantly, Umpqua shares our values and relationship-based business model,” says Clint Stein, Columbia president and CEO. Upon completion of the transaction, Umpqua shareholders will own approximately 62 percent and Columbia shareholders will own approximately 38 percent of the combined company. Once the transaction is completed, the combined organization will be a West Coast franchise with more than $50 billion in assets.
“This is an exciting combination that brings together two well-respected organizations and talented teams, accelerating our shared strategic objectives to create the leading regional bank headquartered in the West,” says Cort O’Haver, president and CEO of Umpqua. “Together, with increased scale, we’ll have the ability to provide expanded opportunities for associates and serve customers through an even more comprehensive suite of solutions. We’ll also be able to strengthen our ongoing investment in our communities and deliver tremendous value for shareholders.”
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.