RankingBanking 25 - Flipbook - Page 21
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“We’re a learning organization, and we’re going to make mistakes,
but [Columbia’s CEO will] allow us to do that … And I think it’s
part of his vision of creating better leaders.”
Christopher Merrywell, Columbia Banking System
alone, two healthy banks, two banks that didn’t
close. After that, the bank moved forward with
have any kind of regulatory issues that would’ve
plans for a digital conversion on March 17, 2023.
stopped a deal,” he says. “It was truly just the
It was an inopportune time. Seven days before the
regulatory environment at the time was taking a
digital conversion, Santa Clara, California-based
very long time to even look at deals.”
Silicon Valley Bank failed amid a deposit run on
Andrew Terrell, managing director and equity an-
the bank. Other banks were on edge. Anderson
alyst for Stephens, says the long delay to close like-
worried that the slightest hitch might spook cus-
ly caused disruption for staff. “We heard anecdot-
tomers into thinking that Umpqua was about to
ally, there are other banks that hired teams away
fail, even if it wasn’t. But delaying the integration
during that merger transition period,” he says.
could also create rumors about Columbia’s ability
When regulatory approval did come, it included
to combine the two banks. Anderson recalls that
the demand to divest branches before the merger’s
for a few weeks, he got about three or four hours
2020
2021
2023
2025
Clint Stein becomes
Columbia Banking System
Columbia and Umpqua
Columbia announces
CEO, adopting much of
announces plans to merge with
close their merger
plans to purchase
Dressel’s growth vision.
$30.8 billion Umpqua Holdings
transaction, making it one
$18 billion Pacific
Corp., its largest deal yet.
of the 30 largest banks in
Premier Bancorp.
the country.
