8-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 28, 2004

COLUMBIA BANKING SYSTEM, INC.

(Exact name of registrant as specified in its charter)

Washington	0-20288	91-1422237
(State or other jurisdiction of incorporation)	(Commission File Number)	IRS Employer Identification No.

1301 A Street Tacoma, WA 98402

(Address of principal executive offices) (zip code)

Registrant’s telephone number, including area code: (253) 305-1900

Item 5. OTHER EVENTS

On April 28, 2004, we announced at our annual shareholders meeting and issued a press release that Columbia Banking System, Inc was issuing a $0.07 per share cash dividend and a 5% stock dividend for the quarter. The dividends will be paid on May 26, 2004 to shareholders of record at the close of business May 12, 2004. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein in its entirety by reference.

Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

(a) Financial statements. – not applicable

(b) Pro forma financial information. – not applicable

(c) Exhibits.

99.1 Press Release dated April 28, 2004 announcing quarterly cash and stock dividend.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 3, 2004	COLUMBIA BANKING SYSTEM, INC.
	By:	/s/    Melanie J. Dressel
		Melanie J. Dressel Chief Executive Officer

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EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

April 28, 2004

Contacts: Melanie J. Dressel, President and

Chief Executive Officer

(253) 305-1911

JoAnne Coy, Vice President, Marketing

(253) 305-1965

COLUMBIA BANKING SYSTEM DECLARES

INCREASED CASH AND 5% STOCK DIVIDEND

TACOMA, Washington—William T. Weyerhaeuser, Chairman of the Board of Columbia Banking System, Inc. (Nasdaq: COLB) announced that a quarterly cash dividend of $0.07 per share will be paid on May 26, 2004 to shareholders of record as of the close of business on May 12, 2004. The approval of this dividend marks the fifth consecutive quarter that a cash dividend has been paid to shareholders, and represents an increase of 40% from the $0.05 per share paid each quarter during 2003.

In addition, Mr. Weyerhaeuser announced that the Board of Directors declared a 5% stock dividend, payable May 26, 2004 to shareholders of record as of the close of business on May 12, 2004.

“We are pleased to reward our shareholders for the first time in our history with both an increased cash dividend and a 5% stock dividend,” Melanie Dressel, President and Chief Executive Officer stated. “We believe the dividends are appropriate based on our capital position, the current market price of our common stock, and our recent operating results.”

Columbia Banking System, Inc. is a Tacoma-based bank holding company whose wholly owned bank subsidiary is Columbia Bank, a Washington state-chartered full-service commercial bank with 34 banking offices in Pierce, King, Cowlitz, Kitsap and Thurston counties. Columbia’s stock trades on the Nasdaq Stock Market^SM under the symbol COLB.