When was the merger between Columbia Banking System, Inc. and Umpqua Holdings Corporation completed?
The merger was completed on February 28, 2023, and at the effective time, each share of Umpqua Holdings Corporation common stock (UMPQ) was converted into the right to receive 0.5958 shares of Columbia Banking System, Inc. common stock (COLB), with UMPQ stockholders receiving cash in lieu of fractional shares. Shares of UMPQ ceased trading after the closing of the Nasdaq stock market on February 28, 2023. The cash in lieu of fractional shares will be paid in the form of a check that will be mailed shortly after UMPQ shares have been converted into COLB shares.
I owned COLB shares when the merger was completed. Do I need to exchange my shares?
No. Historical COLB shareholders do not need to exchange their shares as Columbia Banking System, Inc. is the surviving legal holding company, and it continues to trade under the “COLB” ticker on the Nasdaq stock exchange.
I was a UMPQ shareholder, but I do not own any physical certificates. Do I need to do anything to exchange my shares into COLB?
If your UMPQ shares were in book-entry only (i.e., held electronically) and you did not own any physical stock certificates, your shares will be automatically exchanged into COLB shares. You will receive a statement showing your new COLB shares after the exchange. Any additional questions related to this process should be directed to:
For shareholders who hold shares through a broker (a.k.a., beneficial owners):
Please contact your broker directly.
For shareholders who hold shares registered in their own names:
Please contact our Exchange Agent, Broadridge Corporate Issuer Solutions, LLC, at shareholder@broadridge.com or (866) 232-0399.
How do I exchange my physical UMPQ certificates?
If your UMPQ shares are in certificated form (or you hold a combination of certificates and book-entry form), you will need to return your stock certificates and a completed Letter of Transmittal to our Exchange Agent, Broadridge Corporate Issuer Solutions, LLC, for your UMPQ shares to be exchanged into COLB shares. After the exchange, you will receive a statement showing your new COLB shares. Broadridge will mail a Letter of Transmittal and associated instructions to you within four business days of February 28, 2023. Any additional questions related to this process should be directed to Broadridge at shareholder@broadridge.com or (866) 232-0399.
I cannot find my UMPQ stock certificate. How can I exchange my shares?
If you are unable to locate your physical stock certificate(s), please write or call our Exchange Agent, Broadridge Corporate Issuer Solutions, LLC (see “How do I contact Broadridge Corporate Issuer Solutions, LLC?” response above for phone and address information). Broadridge will inform you of your necessary next steps, including the submission of necessary forms and payment for the posting of a surety bond.
My UMPQ cash dividends were paid via direct deposit; do I need to re-sign up for direct deposit for my COLB shares?
For shareholders who hold shares through a broker (a.k.a., beneficial owners):
Please contact your broker directly.
For shareholders who hold shares registered in their own names:
Yes, please contact Broadridge Corporate Issuer Solutions, LLC, at shareholder@broadridge.com or (866) 232-0399.