TACOMA,
Wash., Feb. 9, 2024 /PRNewswire/ -- Columbia
Banking System, Inc. ("Columbia" Nasdaq: COLB), parent company
of Umpqua Bank, today announced its Board of Directors has approved
a quarterly cash dividend in the amount of $0.36 per common share, payable March 11, 2024, to shareholders of record as of
February 23, 2024.
"The fundamental strength of our franchise has enabled us to pay
a steady dividend to our shareholders while continuing to increase
our capital ratios," commented Clint
Stein, President & CEO of Columbia. "The strength of our diversified
balance sheet and forward outlook continue to provide us with the
flexibility to return capital to shareholders, which remains a key
component of our capital management strategy."
About Columbia
Columbia (Nasdaq: COLB) is headquartered in
Tacoma, Washington and is the
parent company of Umpqua Bank, an award-winning western U.S.
regional bank based in Lake Oswego,
Oregon. In March of 2023, Columbia and Umpqua combined two of the Pacific Northwest's
premier financial institutions under the Umpqua Bank brand to
create one of the largest banks headquartered in the West and a
top-30 U.S. bank. With over $50
billion of assets, Umpqua Bank combines the resources,
sophistication and expertise of a national bank with a commitment
to deliver personalized service at scale. The bank operates in
Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah,
and Washington and supports
consumers and businesses through a full suite of services,
including retail and commercial banking; Small Business
Administration lending; institutional and corporate banking; and
equipment leasing. Umpqua Bank customers also have access to
comprehensive investment and wealth management expertise as well as
healthcare and private banking through Columbia Wealth Management
and Columbia Trust Company, a subsidiary of Columbia.
Note Regarding Forward Looking Statements
This news
release includes forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, which can be
identified by words such as "may," "expected," "anticipate,"
"continue," or other comparable words. In addition, all statements
other than statements of historical facts that address activities
that Columbia expects or
anticipates will or may occur in the future are forward-looking
statements. Readers are encouraged to read the SEC reports of
Columbia, particularly its form
10-K for the Fiscal Year ended December 31,
2022, for meaningful cautionary language discussing why
actual results may vary materially from those anticipated by
management.
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SOURCE Columbia Banking System, Inc