TACOMA, Wash., Feb. 22, 2017 /PRNewswire/ -- Columbia Banking
System (NASDAQ: COLB) ("Columbia")
today announced that Hadley S.
Robbins, Executive Vice President and Chief Operating
Officer of Columbia, has been
appointed Interim Chief Executive Officer of Columbia and its wholly owned subsidiary,
Columbia State Bank, following the unexpected passing of
Melanie J. Dressel on Sunday, February 19th.
"Hadley has more than 35 years of experience in community
banking and has been responsible for Columbia's operations and customer-facing
business lines since 2014. We are fortunate to be able to call upon
him, as he has worked closely with the entire executive leadership
team at Columbia for several
years," said William Weyerhaeuser,
Chairman of the Board of Columbia. As part of the
implementation of the succession planning process, the Board of
Directors of Columbia intends to
conduct a search for a permanent Chief Executive Officer, in which
both internal and external candidates will be considered.
Mr. Robbins was appointed Executive Vice President and Chief
Operating Officer of Columbia in
March 2014, with responsibility for
Columbia's customer-facing
business lines, including Commercial Banking, Retail Banking and
Wealth Management. His experience includes executive or senior
management positions with West Coast Bancorp, Wells Fargo Bank,
Pacific Northwest Bank, Bank of the Northwest and First Interstate
Bank. He holds an MBA from the University of
Oregon and a BS in Business Administration from Lewis and Clark College.
About Columbia
Headquartered in Tacoma,
Washington, Columbia Banking System, Inc. is the holding
company of Columbia Bank, a Washington
state-chartered full-service commercial bank, with locations
throughout Washington,
Oregon and Idaho. For the tenth consecutive year, the
bank was named in 2016 as one of Puget Sound Business Journal's
"Washington's Best Workplaces."
Columbia ranked in the top 20 on
the 2016 Forbes list of best banks in the country for the fifth
year in a row. More information about Columbia can be found on its website at
www.columbiabank.com.
Investor contact:
Clint E. Stein
Executive Vice President and Chief Financial Officer
(253) 305-1921
Media contact:
Moira Conlon
Financial Profiles
(310) 622-8220
Note Regarding Forward-Looking
Statements
This news release includes forward looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward looking statements include, but are not limited to,
descriptions of Columbia's
management's expectations regarding future events and developments
such as future operating results, growth in loans and deposits,
continued success of Columbia's
style of banking and the strength of the local economy. The words
"will," "believe," "expect," "intend," "should," and "anticipate"
or the negative of these words or words of similar construction are
intended in part to help identify forward looking statements.
Future events are difficult to predict, and the expectations
described above are necessarily subject to risks and uncertainties,
many of which are outside our control, that may cause actual
results to differ materially and adversely. In addition to
discussions about risks and uncertainties set forth from time to
time in
Columbia's filings with the
Securities and Exchange Commission, available at the SEC's website
at www.sec.gov and the Company's website at www.columbiabank.com,
including the "Risk Factors," "Business" and "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" sections of our annual reports on Form 10-K and
quarterly reports on Form 10-Q, (as applicable), factors that may
cause actual results to differ materially from those contemplated
by such forward-looking statements include, among others, the
following: (1) local, national and international economic
conditions may be less favorable than expected or have a more
direct and pronounced effect on Columbia than expected and adversely affect
Columbia's ability to continue its
internal growth at historical rates and maintain the quality of its
earning assets; (2) changes in interest rates could significantly
reduce net interest income and negatively affect funding sources;
(3) projected business increases following strategic expansion or
opening or acquiring new branches may be lower than expected; (4)
costs or difficulties related to the integration of acquisitions
may be greater than expected; (5) competitive pressure among
financial institutions may increase significantly; and (6)
legislation or regulatory requirements or changes may adversely
affect the businesses in which Columbia is engaged. We believe the
expectations reflected in our forward looking statements are
reasonable, based on information available to us on the date
hereof. However, given the described uncertainties and risks, we
cannot guarantee our future performance or results of operations
and you should not place undue reliance on these forward-looking
statements which speak only as of the date hereof. We undertake no
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as required by the federal securities laws. The factors
noted above and the risks and uncertainties described in our SEC
filings should be considered when reading any forward-looking
statements in this release.
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SOURCE Columbia Banking System, Inc.