The parent of Columbia Bank announced today it will merge with West Coast Bancorp of Oregon, and the combined entity will be the biggest in Washington and Oregon, in terms of deposits.
Columbia Bank became a well-known name locally when it took over failed Bainbridge Island-based American Marine Bank in January 2010. Columbia is based in Tacoma. The merger is worth half a billion dollars.
The combined company will have $7.2 billion in assets with 150 branches in the two states, according to statement from Columbia Banking Systems, Inc. issued this morning.
— Rachel Pritchett