Columbia State Bank completes purchase of West Coast Bank

Columbia State Bank completes purchase of West Coast Bank

Columbia State Bank officially completed its $573.4 million acquisition of West Coast Bank, making Oregon's 7th largest bank.

Tacoma-based Columbia Banking System Inc. in September promised to pay $264.6 million in cash and 12.8 million shares of its stock, valued Monday at $308.8 million, for the Lake Oswego-based West Coast Bancorp.

Columbia Bank now boasts more than $7 billion in assets and 157 branches in Oregon and Washington. In Oregon, it's expected to rank behind KeyCorp and ahead of Washington Federal Inc. in deposit market share with more than 70 branches and about $2.3 billion in deposits in the state.

Read more at OregonLive.com.

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