M&A Deal Summary

1st Security Bank Acquires Columbia Banking System - Seven Branches in Washington and Oregon

On November 7, 2022, 1st Security Bank acquired financial services company Columbia Banking System - Seven Branches in Washington and Oregon from Columbia Bank

Acquisition Highlights
  • This is 1st Security Bank’s 2nd transaction in the Financial Services sector.
  • This is 1st Security Bank’s 2nd transaction in the United States.
  • This is 1st Security Bank’s 1st transaction in Oregon.

M&A Deal Summary
Date 2022-11-07
Target Columbia Banking System - Seven Branches in Washington and Oregon
Sector Financial Services
Buyer(s) 1st Security Bank
Sellers(s) Columbia Bank
Deal Type Divestiture

Target

Columbia Banking System - Seven Branches in Washington and Oregon

Newport, Oregon, United States
Columbia Banking System's Seven Branches in Washington and Oregon consists of 5 branches in Oregon, and 2 branches from Washington which provides banking solutions.

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Buyer(S) 1

Buyer

1st Security Bank

Mountlake Terrace, Washington, United States
Category Company
Founded 1936
Sector Financial Services
Employees570
Revenue 141M USD (2023)
DESCRIPTION

1st Security Bank is the holding company for 1st Security Bank, which provides loan and deposit services primarily to small and middle-market businesses and individuals in Western Washington through its 21 bank branches and eight loan production offices in various suburban communities in Western Washington, and one loan production office in the market area of the Tri-Cities, Washington. 1st Security services home mortgage customers throughout Washington State with an emphasis in Western Washington and Tri-Cities home lending markets. 1st Security Bank was incorporated in 1936 and is based in Mountlake Terrace, Washington.

DEAL STATS #
Overall 2 of 2
Sector (Financial Services) 2 of 2
Type (Divestiture) 2 of 2
State (Oregon) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-16 Anchor Bancorp.

Lacey, Washington, United States

Anchor Bancorp. is a provider of financial services through it operating company Anchor Bank. Anchor Bancorp. was founded in 1981 and is based in Lacey, Washington.

Buy $31M

Seller(S) 1

SELLER

Columbia Bank

Tacoma, Washington, United States
Category Company
Founded 1993
Sector Financial Services
Employees5,114
Revenue 2.0B USD (2023)
DESCRIPTION

Columbia Bank is a bank holding company whose wholly owned banking subsidiary is Columbia State Bank. Columbia State Bank provides a full range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. Columbia Bank was incorporated in 1993 and is based in Tacoma, Washington.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (Oregon) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-11-07 First Northern Bank - Three Branches

California, United States

First Northern Bank's Three Branches provides financial services approximately $128 million of total deposits and approximately $4 million of total loans based in Northern California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-01 Umpqua Bank

Portland, Oregon, United States

Umpqua Holdings operates as the holding company for Umpqua Bank and Umpqua Investments, Inc. which provide commercial and retail banking, and brokerage services to corporate, institutional, and individual customers in the United States. Umpqua Bank was founded in 1953 and is based in Portland, Oregon.

Buy -
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