Columbia Bank, the wholly-owned banking subsidiary of Columbia Banking System, Inc., announced the pricing of $250 million aggregate principal amount of its 6.721% Fixed-to-Fixed Rate Subordinated Notes due 2036. The Notes carry an initial fixed rate of 6.721% per annum, paid semi-annually, from issuance through September 18, 2031, after which they pay the Five-Year U.S. Treasury Rate as of the reset determination date plus 195 basis points, and the offering is expected to close on September 18, 2026, subject to customary closing conditions. The Notes are intended to qualify as Tier 2 capital of the Bank for regulatory capital purposes. Columbia Bank plans to use the net proceeds for general corporate purposes, including supporting growth and capital adequacy, and to return up to $250 million of capital to Columbia, which intends to use the returned capital to redeem certain of its outstanding trust preferred securities. The Notes are unsecured, subordinated obligations of the Bank only, are not guaranteed by Columbia, and are not deposits insured by the Federal Deposit Insurance Corporation or any other government agency or fund.
Columbia Banking System IncColumbia Bank prices $250M subordinated notes, a financing event that also returns capital to the parent to redeem trust preferred securities.
Taishin Financial Holding Co Ltd