Key Developments: Columbia Banking System Inc (COLB.O)
22.00USD
20 May 2013
$-0.03 (-0.14%)
$22.03
$21.94
$22.09
$21.93
180,267
340,124
$22.12
$16.18
Latest Key Developments (Source: Significant Developments)
Columbia Banking System Inc Declares Cash Dividend
Columbia Banking System Inc announced that a quarterly cash dividend of $0.10 per common share, and per common share equivalent for holders of preferred stock, will be paid on May 22, 2013 to shareholders of record as of the close of business on May 8, 2013. Full Article
Columbia Banking System Inc Announces Closing Of Acquisition Of West Coast Bancorp
Columbia Banking System Inc announced the completion of acquisition of West Coast Bancorp, the parent company of West Coast Bank. Effective at the time of the merger, Columbia also appointed David A. Dietzler, a former director of West Coast, to serve on Columbia's Board and the Board of wholly owned subsidiary, Columbia State Bank. Pursuant to the terms of the merger agreement, dated September 25, 2012, former West Coast shareholders were entitled to receive merger consideration consisting of shares of Columbia common stock (Columbia Shares) only, cash only, or a unit consisting of a mix of Columbia Shares and cash, in each case with a value equal to approximately $24.11, depending on, and after giving effect to, the proration and allocation procedures set forth in the merger agreement. Keefe, Bruyette & Woods, Inc. acted as financial advisor and Graham & Dunn PC acted as legal counsel to Columbia. Sandler O'Neill + Partners, L.P. acted as financial advisor and Wachtell, Lipton, Rosen & Katz acted as legal counsel to West Coast. Full Article
Columbia Banking System Inc Announces Quarterly Cash Dividend
Columbia Banking System Inc announced that a quarterly cash dividend of $0.10 per common share will be paid on February 20, 2013 to shareholders of record on February 6, 2013. This is an increase of 11% from $0.09 paid the prior quarter. Full Article
Columbia Banking System Inc Declares Quarterly Cash Dividend
Columbia Banking System Inc announced that the Board will pay a regular cash dividend of $0.09 per common share on November 21, 2012 to shareholders of record as of the close of business on November 7, 2012. Full Article
Columbia Banking System Inc And West Coast Bancorp Agree To Merge
Columbia Banking System Inc and West Coast Bancorp jointly announced that the companies have agreed to combine their two Pacific Northwest community bank franchises in a transaction valued at approximately $506 million. The combined company will have approximately $7.2 billion in assets with over 150 branches in Washington and Oregon. The transaction is expected to be completed in the first quarter of 2013. Under the terms of the merger agreement West Coast shareholders can elect to receive either Columbia common stock, cash, or a combination of both stock and cash for each share of West Coast stock. Aggregate consideration offered in exchange for all of West Coast's capital securities consists of a fixed amount of cash totaling approximately $264.5 million and a fixed amount of Columbia common stock totaling approximately 12.8 million shares. The value received by West Coast shareholders on a per share basis will fluctuate based on Columbia's stock price. Based on Columbia's closing stock price of $18.85 on September 25, West Coast shareholders would have received consideration valued at approximately $23.10 per share. West Coast shareholders will own approximately 24% of the common stock of the combined company. Columbia was advised by Keefe, Bruyette & Woods, Inc., as financial advisor and Graham & Dunn PC, as legal counsel. West Coast was advised by Sandler O'Neill + Partners, L.P., as financial advisor and Wachtell, Lipton, Rosen & Katz, as legal counsel. Full Article
Columbia Banking System Inc Names Clint E. Stein Executive Vice President And Chief Financial Officer
Columbia Banking System Inc announced that Melanie J. Dressel, President and Chief Executive Officer of Columbia Banking System and Columbia Bank, announced that Clint E. Stein has been promoted to Executive Vice President and Chief Financial Officer, effective immediately. Full Article
Columbia Banking System, Inc. Increases Regular Cash Dividend; Declares Special Cash Dividend
Columbia Banking System, Inc. announced that a quarterly cash dividend of $0.09 per common share will be paid on August 22, 2012 to shareholders of record as of the close of business on August 8, 2012. This is a 13% increase from $0.08 per share paid in the prior three quarters. In addition, the Board of Directors declared a special cash dividend of $0.21 per common share, which will also be paid on August 22, 2012 to shareholders of record as of the close of business on August 8, 2012. Full Article
Columbia Banking System, Inc. Announces Chief Financial Officer Change-Form 8-K
Columbia Banking System, Inc. reported in its Form 8-K that Gary R. Schminkey, Executive Vice President and Chief Financial Officer (CFO) of Columbia Banking System, Inc. (Company) has retired effective May 10, 2012. The Board of Directors has appointed Mr. Clint Stein, currently the Company’s Chief Accounting Officer as Acting Chief Financial Officer, effective May 10, 2012. Full Article
Columbia Banking System, Inc. Declares Regular Cash Dividend and Special Cash Dividend
Columbia Banking System, Inc. announced that a quarterly cash dividend of $0.08 per common share will be paid on May 23, 2012 to shareholders of record as of the close of business on May 9, 2012. In addition, the Board of Directors declared a special cash dividend of $0.14 per common share, which will also be paid on May 23, 2012 to shareholders of record as of the close of business on May 9, 2012. Full Article
Columbia Banking System, Inc. Declares Regular Cash Dividend And Special Cash Dividend
Columbia Banking System, Inc. announced that a quarterly cash dividend of $0.08 per common share will be paid on February 22, 2012 to shareholders of record as of the close of business on February 8, 2012. In addition, the Board of Directors declared a special cash dividend of $0.29 per common share, which will also be paid on February 22, 2012 to shareholders of record as of the close of business on February 8, 2012. Full Article
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