COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January24, 2018, the Board of Directors of Columbia Banking System, Inc. (the “Company”) appointed Janine Terrano to serve as a director on the Board of Directors of the Company and its wholly owned subsidiary, Columbia State Bank (“Columbia Bank”), effective immediately. Ms.Terrano has been appointed to the Audit Committee and Enterprise Risk Management Committee of the Board of Directors of the Company. Ms.Terrano has extensive business leadership expertise and experience building companies in the technology sector.
There are no arrangements or understandings between Ms.Terrano and any person to which she was selected to serve as a director on the Company’s and Columbia Bank’s Boards of Directors.
Ms.Terrano is not a party to any transaction requiring disclosure under Item 404(a) of Regulation S-K.
Compensatory arrangements for Ms.Terrano will be consistent with the Company’s previously disclosed standard arrangements for non-employee directors. Such arrangements are described in the Company’s proxy statement for its 2017 annual meeting filed on April13, 2017, which descriptions are incorporated herein by reference. Ms.Terrano will also enter into the Company’s standard indemnification agreement for directors.
In connection with her appointment, Ms.Terrano received a grant of restricted stock commensurate with grants recently awarded to the Company’s other directors.
| Item 5.02. | Financial Statements and Exhibits. |
COLUMBIA BANKING SYSTEM INC ExhibitEX-99.1 2 d523074dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 FOR IMMEDIATE RELEASE January 24,…To view the full exhibit click here
About COLUMBIA BANKING SYSTEM, INC. (NASDAQ:COLB)
Columbia Banking System, Inc. is a bank holding company of Columbia State Bank (the Bank) and West Coast Trust Company, Inc. The Company provides a range of banking services to small and medium-sized businesses, professionals and individuals throughout Washington, Oregon and Idaho. The Bank provides a range of financial services through approximately 150 branch locations in Washington, Oregon and Idaho. The Company’s products and services include personal banking, business banking and wealth management. It offers its personal banking customers a range of account products, including noninterest and interest-bearing checking, savings, money market and certificate of deposit accounts. The Company offers its business banking customers with a range of checking, savings, interest bearing money market and certificate of deposit accounts. It provides individual and business retirement solutions, insurance solutions, wealth management and financial planning.