Key Developments: Columbia Banking System Inc (COLB.O)
18.07USD
9 Feb 2010
$0.07 (+0.39%)
$18.07
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$18.55
$17.90
316,888
399,649
$20.26
$4.76
Latest Key Developments
Columbia Banking System, Inc. Declares Cash Dividend
Columbia Banking System, Inc. announced a quarterly cash dividend of $0.01 per common share, which will be paid on February 24, 2010 to shareholders of record as of the close of business on February 10, 2010.
Columbia Banking System, Inc. Acquires Deposits And Assets Of Columbia River Bank
Columbia Banking System, Inc. announced that its wholly owned subsidiary, Columbia State Bank, has acquired all of the deposits and certain assets of Columbia River Bank from the Federal Deposit Insurance Corporation (FDIC), which was appointed receiver of the institution. Columbia Banking System will acquire approximately $1.0 billion in assets and approximately $980 million in deposits located in 21 branches in Oregon and Washington. Columbia River Bank's loan portfolio of approximately $700 million will be subject to a loss-sharing agreement with the FDIC. Columbia Banking System participated in a competitive bid process, whereby it agreed to assume all of the deposits and nearly all of the assets of Columbia River Bank. The accepted bid included a 1% deposit premium on non-brokered deposits and a negative bid of $43.9 million on net assets acquired.
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.
Columbia Banking System, Inc. Declares Cash Dividend
Columbia Banking System, Inc. announced that its Board of Directors has declared quarterly cash dividend of $0.01 per common share, down from $0.04 per common share in the previous quarter. The cash dividend will be paid on May 20, 2009 to shareholders of record as of the close of business on May 6, 2009.
Columbia Banking System, Inc. Declares Cash Dividend
Columbia Banking System, Inc. announced that a quarterly cash dividend of $0.04 per share will be paid on February 25, 2009, to shareholders of record as of the close of business on February 11, 2009.
Columbia Banking System, Inc. Receives Approval To Participate In U.S. Treasury Capital Purchase Program
Columbia Banking System, Inc. announced that it has received preliminary approval from the U.S. Department of the Treasury to receive additional capital by participating in the Treasury's Capital Purchase Program. As a participant in the program, Columbia could issue up to $76.9 million in senior preferred shares and related warrants to the U.S. Treasury. Receipt of the funding is subject to Columbia's acceptance of the terms of the agreement, satisfaction of closing conditions and registration with the Securities and Exchange Commission. Participants have 30 days to review the documents and elect to participate.
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