UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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Emerging growth company
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| Item 8.01 | Other Events. |
Following close of business on February 24, 2023, Columbia State Bank, a Washington state-chartered bank and wholly-owned subsidiary of Columbia Banking System, Inc. (“Columbia”) completed its divestiture of 7 branches and certain related assets and deposit liabilities to 1st Security Bank of Washington, a Washington state-chartered stock savings bank and wholly-owned subsidiary of FS Bancorp, Inc. to satisfy regulatory requirements in connection with Columbia’s merger with Umpqua Holdings Corporation. Total deposits and loans that were divested upon closing were approximately $430.8 million and approximately $67.4 million, respectively. Columbia recorded a gain of approximately $17.4 million related to the completion of this divestiture.
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.
| COLUMBIA BANKING SYSTEM, INC. | ||||||
| Date: February 27, 2023 | By: | /s/ Aaron James Deer | ||||
| Aaron James Deer | ||||||
| Executive Vice President and Chief Financial Officer | ||||||