Brief: Columbia Banking System Announces Agreement To Sell Seven Washington And Oregon Branches To 1st Security Bank

Columbia Banking System

07/11/2022 14:08

Nov 7 (Reuters) - Columbia Banking System Inc  COLB.O :
    * COLUMBIA BANKING SYSTEM ANNOUNCES AGREEMENT TO SELL SEVEN
WASHINGTON AND OREGON BRANCHES TO 1ST SECURITY BANK
    * COLUMBIA BANKING SYSTEM INC - COLUMBIA AND 1ST SECURITY
WILL
PROVIDE ADDITIONAL INFORMATION TO CUSTOMERS OF BRANCHES TO BE
DIVESTED
    * COLUMBIA BANKING SYSTEM INC -  BRANCHES BEING DIVESTED TO
SATISFY COMMITMENTS TO U.S. DOJ IN CONNECTION WITH CO'S PENDING
MERGER WITH UMPQUA HOLDINGS
    * COLUMBIA BANKING SYSTEM INC - ALL EMPLOYEES WILL BE
RETAINED BY
1ST SECURITY AND ALL BRANCHES WILL REMAIN IN OPERATION AFTER
SALE
    * COLUMBIA BANKING SYSTEM INC - DEAL INCLUDES ABOUT $510
MILLION
IN DEPOSITS AND ABOUT $76 MILLION IN LOANS AS WELL AS OWNED REAL
ESTATE AND FIXED ASSETS

Source text for Eikon:  ID:nGNXc99CW5 
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