Key Developments For Columbia Banking System Inc
Columbia Banking System Inc (COLB.O) (Nasdaq)
Columbia Banking System, Inc. Announces Closing of $120 Million Common Stock Offering, Including the Exercise of the Underwriters' Over-Allotment Option
Columbia Banking System, Inc. announced that they have raised $120 million through the previously announced public offering by issuing 9,775,000 shares of the Company's common stock, including 1,275,000 shares pursuant to the underwriters' over-allotment option, at a price of $12.25 per share. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $113.8 million. Keefe, Bruyette & Woods, Inc. acted as lead book-running manager of the offering, with D.A. Davidson & Co. as a co-manager.
Columbia Banking System, Inc. Announces Pricing of $104 Million Public Offering of Common Stock
Columbia Banking System, Inc. announced the pricing of an underwritten public offering of 8,500,000 shares of the Company's common stock at a price to the public of $12.25 per share for gross proceeds of approximately $104 million. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $98.6 million. Keefe, Bruyette & Woods, Inc. is acting as lead book-running manager of the offering, and D.A. Davidson & Co. is a co-manager. Columbia Banking System has granted the underwriters a 30-day option to purchase up to an additional 1,275,000 shares of common stock to cover over-allotments, if any. The Company intends to use the net proceeds from this offering for general corporate purposes, more specifically to support opportunistic growth and the bank's capital needs. The Company expects to close the transaction on or about August 11, 2009.
Columbia Banking System, Inc. Announces Commencement of $80 Million Public Offering of Common Stock
Columbia Banking System, Inc. announced that it expects to offer and sell approximately $80 million of common stock in an underwritten public offering. Keefe, Bruyette & Woods, Inc. is serving as lead book-running manager of the offering, and D.A. Davidson & Co. is a co-manager. Columbia Banking System intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares sold to cover over-allotments, if any. Columbia intends to use the net proceeds from this offering for general corporate purposes, more specifically to support opportunistic growth and the bank's capital needs.
Columbia Banking System, Inc. Declares Cash Dividend
Columbia Banking System, Inc. announced that the Board of Directors have announced a quarterly cash dividend of $0.01 per common share, which will be paid on August 19, 2009, to shareholders of record as of the close of business on August 5, 2009.
Columbia Banking System, Inc. Issues Q2 2009 Outlook Below Analysts' Estimates
Columbia Banking System, Inc. announced that for the second quarter 2009, it expects a loss per diluted common share within the range of $0.37 and $0.43. According to Reuters Estimates, analysts were expecting the Company to report earnings per share (EPS) of $(0.06) for the same period.
