Simpson Thacher represented the initial purchasers, led by J.P. Morgan Securities LLC and Keefe, Bruyette & Woods, a Stifel Company, in connection with the Section 3(a)(2) exempt offering by Columbia Bank, a wholly owned subsidiary of Columbia Banking System, Inc., of $250 million aggregate principal amount of its 6.721% Fixed-to-Fixed Rate Subordinated Notes due 2036.
Columbia Bank intends to use the net proceeds from the offering for general corporate purposes, including to provide capital to support growth and the capital adequacy of the Bank and to fund a return of capital to Columbia Banking System, Inc. to redeem certain of its outstanding trust preferred securities.
Columbia Bank is a regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah and Washington. It has 351 branches across eight states. As of June 30, 2026, Columbia Bank had total assets of $65.4 billion.
The Simpson Thacher team included Lesley Peng, Heidi Ahmed and Manuel Alvarez (Capital Markets); Jonathan Cantor and Jemma Li (Tax); Pasco Struhs (Executive Compensation and Employee Benefits); and Alexander Franchilli (Intellectual Property).