Columbia Banking System Announces $250 Million Subordinated Notes Offering
Columbia Bank, a subsidiary of Columbia Banking System (Nasdaq: COLB), has announced the pricing of its offering for $250 million in aggregate principal amount of fixed-to-fixed rate subordinated notes due in 2036. The notes will carry an initial interest rate of 6.721% annually, with a reset after five years based on the Five-Year U.S. Treasury Rate plus 195 basis points. The offering is expected to close on September 18, 2026 and aims to support growth while maintaining capital adequacy. The Bank plans to return up to $250 million of proceeds back to Columbia Banking System for the redemption of its trust preferred securities. These notes will be unsecured obligations of the bank only and not guaranteed by Columbia. The offering is targeted at institutional accredited investors under an exemption from registration, with no FDIC insurance or government guarantees.
Tickers: $COLB
Topics: capital_raising corporate_finance