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Columbia Banking System Announces Closing Of Acquisition Of West Coast Bancorp, Final Merger Consideration Election Results And Appointment Of Director

About Columbia

Headquartered in Tacoma, Washington, Columbia Banking System, Inc. is the holding Company of Columbia State Bank, a Washington state-chartered full-service commercial bank.  For the sixth consecutive year, the bank was named in 2012 as one of Puget Sound Business Journal's " Washington's Best Workplaces."

Following the merger, Columbia Banking System now has 157 banking offices, including 86 branches in Washington State and 71 branches in Oregon. Columbia State Bank does business under the Bank of Astoria name in Astoria, Warrenton, Seaside, Cannon Beach, Manzanita and Tillamook in Oregon. More information about Columbia can be found on its website at www.columbiabank.com.

Note Regarding Forward-Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are typically identified by words such as "believe," "expect," "anticipate," "intend," "target," "estimate," "continue," "positions," "prospects" or "potential," by future conditional verbs such as "will," "would," "should," "could" or "may," or by variations of such words or by similar expressions.  These forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Columbia's performance or achievements to be materially different from any expected future results, performance, or achievements.  Forward-looking statements speak only as of the date they are made and Columbia does not assume any duty to update forward looking statements. Such forward-looking statements include, but are not limited to, statements about the benefits of the business combination transaction involving Columbia, including future financial and operating results, the combined company's plans, objectives, expectations and intentions and other statements that are not historical facts. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: (i) the risk that the benefits from the transaction may not be fully realized or may take longer to realize than expected, including as a result of changes in general economic and market conditions, interest and exchange rates, monetary policy, laws and regulations and their enforcement, and the degree of competition in the geographic and business areas in which the combined company operates; (ii) the ability to promptly and effectively integrate the businesses following the merger; (iii) the reaction to the transaction of the companies' customers, employees and counterparties; and (iv) diversion of management time on post-merger-related issues. For more information, see the risk factors described in each of Columbia's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission.

Contacts: Melanie J. Dressel , President and Chief Executive Officer (253) 305-1911

Clint E. Stein , Executive Vice President and Chief Financial Officer (253) 593-8304

SOURCE Columbia Banking System, Inc.

Stock quotes in this article: COLB 
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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