8-K
filed March 1, 2023, 6:59 PM ET
CIK 0001077771
M&A
confidence high
sentiment neutral
materiality 1.00
UMPQUA HOLDINGS CORP: M&A transaction — Umpqua and Columbia complete all-stock merger; Umpqua shareholders receive 0.5958 COLB shares per share
UMPQUA HOLDINGS CORP
- Merger closed Feb 28, 2023; each Umpqua share converted to 0.5958 Columbia shares; Umpqua stock delisted from Nasdaq.
- Combined company has >$50B assets, ~$37B loans, ~$45B deposits across eight western states.
- Board expanded to 14 directors, 7 from each company; Cort O'Haver named Executive Chair, Clint Stein remains CEO.
- Umpqua shareholders own ~62% of combined company; combined company trades under COLB on Nasdaq.
- All branches to operate under Umpqua Bank brand after integration; corporate HQ in Tacoma, WA; bank HQ in Lake Oswego, OR.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Cort L. O’Haver departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Peggy Y. Fowler departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
John F. Schultz departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Maria M. Pope departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Hilliard C. Terry, III departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Luis F. Machuca departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Anddria Clack-Rogers Varnado departed as Director at UMPQUA HOLDINGS CORP.
- Action
- ceased serving
- Role
- Director
Exact text from the filing
At the Effective Time, in accordance with the terms of the Merger Agreement, each of Umpqua’s directors and executive officers ceased serving in such capacities and Columbia expanded the size of its board of directors to fourteen (14) directors.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
UMPQUA HOLDINGS CORP underwent a change of control involving Columbia Banking System, Inc. (closed 2023-02-28).
- Action
- change of control
- Counterparty
- Columbia Banking System, Inc.
- Closing
- 2023-02-28
Exact text from the filing
Effective on February 28, 2023 (the “ Closing Date ”), Umpqua completed its previously announced all-stock combination with Columbia.
View on SEC.gov
This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice.
See methodology for how this pipeline works.