Columbia Banking System, Inc.

-0.25 (-0.72%)
Officer Changes, Other Pre-Announcement, Mergers / Acquisitions

Columbia Banking System, Inc. Enters California Through The Acquisition Of Bank Of Commerce Holdings

Published: 06/24/2021 00:14 GMT
Columbia Banking System, Inc. (COLB) - Columbia Banking System, Inc. Enters California Through the Acquisition of Bank of Commerce Holdings.
Bank of Commerce Chief Executive Officer Randy Eslick Will Continue Leadership of Division in Role of President.
Columbia Banking - Combined Company Will Have Over 150 Branches With $19 Billion in Assets Throughout Washington, Oregon, Idaho and California.
Columbia Banking System-enters California Through Acquisition of Bank of Commerce Holdings in an All-stock Transaction Valued at About $266.0 Million.
Agreement Was Unanimously Approved by the Board of Directors of Each Company.
Columbia Banking System- Deal Expected to Be Accretive to Co's Earnings With 3% Accretion to EPS in 2022 and 4% Accretion in 2023.
at Closing, Bank of Commerce Shareholders Will Own Approximately 9% of the Combined Company.
Columbia Banking System - Bank of Commerce Shareholders Are Entitled to Receive 0.40 of a Share of Co's Common Stock for Each Share of Bank of Commerce's Stock.
Columbia Banking-plans to Pay $500,000 to Small Businesses Throughout Northern California As Part of Its Pass It on Project Following Close of Merger.