RTTNews | Oct 12, 2021 11:34AM EDT

11:34 Tuesday, October 12, 2021 (RTTNews.com) - Shares of Columbia Banking System, Inc. (COLB), the parent company of Columbia State Bank, are down 12 percent on Tuesday's trading after the company announced the merger with Umpqua Holdings Corp. (UMPQ), the parent company of Umpqua Bank, in an all-stock deal.

Once the transaction is completed, the combined company will be a West Coast franchise having more than $50 billion in assets. The deal is expected to close in the middle of fiscal 2022.

Currently at $34.15, the stock has traded between $24.84 and $50.68 during the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3232133/columbia-banking-system-slips-12-on-merger-with-umpqua-holdings.aspx)

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