TACOMA, Wash., July 24 /PRNewswire-FirstCall/ -- The Board of Directors
of Columbia Banking System, Inc. (Nasdaq: COLB) announced that a quarterly
cash dividend of $0.17 per share will be paid on August 20, 2008 to
shareholders of record as of the close of business on August 6, 2008.
Melanie Dressel, President and Chief Executive Officer noted,
"Reflecting our well-capitalized position at June 30, 2008, our quarterly
cash dividend is being paid at the same level as in the previous five
quarters. We value the ongoing investment of our shareholders."
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 the 2007 acquisitions of Mountain Bank
Holding Company and Town Center Bancorp and the 2008 internal merger of its
subsidiary, Bank of Astoria, into Columbia Bank, Columbia Banking System
has 53 banking offices in Pierce, King, Cowlitz, Kitsap, Thurston and
Whatcom counties in Washington State, and Clackamas, Clatsop, Tillamook and
Multnomah counties in Oregon. Included in Columbia Bank are former branches
of Mt. Rainier National Bank, doing business as Mt. Rainier Bank, with 5
branches in King and Pierce counties. Columbia Bank does business under the
Bank of Astoria name at the Bank of Astoria's former branches located in
Astoria, Warrenton, Seaside and Cannon Beach in Clatsop County and in
Manzanita in Tillamook County. More information about Columbia can be found
on its website at http://www.columbiabank.com.
Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995, which can
be identified by words such as "may," "expected," "anticipate", "continue,"
or other comparable words. In addition, all statements other than
statements of historical facts that address activities that Columbia
expects or anticipates will or may occur in the future are forward-looking
statements. Readers are encouraged to read the SEC reports of Columbia,
particularly its form 10-K for the Fiscal Year ended December 31, 2006, for
meaningful cautionary language discussing why actual results may vary
materially from those anticipated by management.
Contacts: Melanie J. Dressel, President and
Chief Executive Officer
(253) 305-1911
Gary R. Schminkey, Executive Vice President
and Chief Financial Officer
(253) 305-1966
SOURCE Columbia Banking System, Inc.
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Related links:
http://www.columbiabank.com
CONTACT:
Melanie J. Dressel, President and Chief
Executive Officer, +1-253-305-1911, or Gary R. Schminkey,
Executive Vice President and Chief Financial Officer,
+1-253-305-1966, both of Columbia Banking System, Inc.
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