Columbia Banking settles class action against Umpqua Bank for $55M

COLUMBIA BANKING SYSTEM, INC.

Proposed settlement of $55M in class action; plaintiffs had alleged damages of $297.4M–$368.1M.
Mistrial declared March 4, 2025 when jury could not reach verdict; followed court-ordered mediation.
Settlement subject to formal agreement and preliminary/final court approval; expected funding by early 2026.
Case against Umpqua Bank stemmed from 2012 acquisition of Circle Bank; claims of aiding and abetting commercial real estate failure.

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