Profile: Columbia Banking System Inc (COLB.O)
24 May 2019
Columbia Banking System, Inc. (Columbia), incorporated on May 27, 1988, is a bank holding company for Columbia State Bank (the Bank) and Columbia Trust Company (Columbia Trust). The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. Columbia Trust provides fiduciary, agency, trust and related services, and life insurance products. The Company offers products and services, which include Personal Banking, Business Banking and Wealth Management. Its Personal Banking products and services include Checking and Saving Accounts; Consumer Lending; Digital Banking; Residential Lending, and VISA Card Services. Its Business Banking products and services include Agricultural Lending; Commercial and Industrial Lending; International Banking; Merchant Card Services; Municipal Lending; Real Estate and Real Estate Construction Lending; Remote Deposit Capture; Small Business Administration (SBA) Lending; Small Business Services, and Treasury Management. Its Wealth Management products and services include Investment Services, Private Banking and Professional Banking. As of December 31, 2016, the Bank provided a range of financial services through 143 branch locations, including 73 in the State of Washington, 56 in Oregon and 14 in Idaho.
The Company offers its personal banking customers an assortment of account products, including noninterest and interest-bearing checking, savings, money market and certificate of deposit accounts. Overdraft protection is also available with direct links to the customer's checking account. Personal banking customers are also provided with a range of borrowing products, including home equity loans and lines of credit, home mortgages for purchases and refinances, personal loans, and other consumer loans. Eligible personal banking customers with checking accounts are provided a Visa Debit Card, which can be used both to make purchases and as an automated teller machine (ATM) card. A range of Visa Credit Cards are also available to eligible personal banking customers. Columbia Bank's Personal Online Banking provides its personal banking customers with the ability to conduct their banking business around the clock. Columbia Bank's Personal Mobile Banking allows customers to deposit checks, pay bills, transfer funds, check balances or find a branch or ATM through their mobile device.
The Company offers a range of checking, savings, interest bearing money market and certificate of deposit to business banking customers. In addition to these core banking products, it provides a range of services to support the financial needs of small and middle market businesses, including Treasury Management, Commercial Lending, International Banking, Merchant Card Services, Business VISA Debit and Credit Cards and Wealth Management. It offers a range of loan products for business banking customers. Commercial loan products include accounts receivable and inventory financing, as well as SBA financing. It also offers commercial real estate loan products for construction and development or permanent financing. Real estate lending activities have been focused on construction and permanent loans for both owner occupants and investor oriented real estate properties.
Columbia Bank's international services division offers a range of financial services. Business clients that use Columbia's Merchant Card Services have the ability to accept Visa, MasterCard, American Express and Discover sales drafts for deposit directly into their business checking account. Merchants are provided with an accounting system tailored to their needs, which includes month-to-date credit card deposit information on a transaction statement. Internet access is available, allowing business customers to review merchant statements and authorized, captured, cleared and settled transactions. Columbia offers point of sale solutions to suit its customers' needs for card acceptance, including terminals, mobile platforms, virtual terminals and online applications.
The Company's business banking customers are offered a selection of Visa Cards, including the Business Debit Card. The Company partners with Elan Financial Services to offer a range of Visa Credit Cards. Columbia Bank offers Treasury Management Programs. Its services include Commercial Online Banking, Positive Pay fraud protection, Automated Clearing House (ACH) payments and Remote Deposit Capture. It offers solutions to individuals, families and professional businesses in the areas of private banking, professional banking, financial services, and trust and estate services. CB Financial Services offers an array of financial solutions that focuses on wealth management. Its solutions include Individual and Business Retirement Solutions, Insurance Solutions, Wealth Management and Financial Planning. Columbia Private Banking offers affluent clientele and their businesses financial solutions, such as deposit and treasury management services, credit services, and wealth management strategies. The Company, through its Columbia Trust subsidiary, offers a range of fiduciary, investment and administrative trust services. Its services include Personal Trusts, Special Needs (Supplemental) Trusts, Estate Settlement Services, Investment Agency and Charitable Management Services.
The Bank is a full service commercial bank, which originates a range of loans, and focuses its lending efforts on originating commercial business and commercial real estate loans. It offers commercial business loans, real estate loans, real estate construction loans, Consumer Loans, Foreign Loans and Purchased Credit Impaired Loans. It originates a range of real estate construction loans. Consumer loans include automobile loans, boat and recreational vehicle financing, home equity and home improvement loans and miscellaneous personal loans. As of December 31, 2016, the Bank's total loans amounted to $6 billion.
As of December 31, 2016 the Company's securities portfolio primarily consisted of securities issued by the United States Government, the United States Government agencies, the United States Government-sponsored enterprises and state and municipalities. All of the Company's mortgage-backed securities and collateralized mortgage obligations are issued by the United States Government agencies and the United States Government-sponsored enterprises and are guaranteed by the United States Government. As of December 31, 2016, the Bank's total securities having a fair value amounted to $2.27 billion.
Sources of Funds
The Company's deposits portfolio includes core deposits, including demand and other noninterest-bearing deposits, interest-bearing demand deposits, money market deposits and savings deposits; certificates of deposit insured through Certificate of Deposit Account Registry Service (CDARS), and brokered money market accounts. Core deposits were $7.75 billion as of December 31, 2016. As of December 31, 2016, brokered and other wholesale deposits (excluding public deposits) totaled $230.4 million. Deposits totaled $8.06 billion as of December 31, 2016. Borrowed funds provide an additional source of funding for loan growth. Its borrowed funds consist primarily of borrowings from the FHLB Des Moines (FHLB) and Federal Reserve Bank (FRB), as well as securities repurchase agreements.
Columbia Banking System Inc
1301 a St
TACOMA WA 98402-4200