Washington State Department of Financial Institutions

News Release

Friday, January 22, 2010

Contact

Lyn Peters, Director of Communications
PH (360) 902-8731 lyn.peters@dfi.wa.gov

Brad Williamson, DFI Director, DFI Division of Banks
PH (360) 902-8704 banks@dfi.wa.gov

FOR IMMEDIATE RELEASE:


Washington's Columbia State Bank Acquires Oregon's Columbia River Bank After Closure By Oregon Regulator

Tacoma-based state-chartered bank acquires “essentially all” assets and liabilities

OLYMPIA – The Washington State Department of Financial Institutions announces Columbia State Bank’s acquisition of Oregon’s Columbia River Bank.

“While it is always discouraging to see a bank closed, we are pleased one of Washington’s state-chartered banks is able to make this valuable acquisition,” DFI Director of Banks Brad Williamson said. “We’re certain our state chartered bank will work hard to ensure Columbia River Bank customers receive excellent service.”

Details on the Columbia River Bank closure and acquisition by Columbia State Bank can be found at the Oregon Department of Consumer & Business Services Web site: http://cms.oregon.gov/DCBS/Pages/index.aspx


About Division of Banks
www.dfi.wa.gov/banks ▪ 360.902.8704 ▪ 877.RINGDFI (746.4334) x 28704
The Washington State Department of Financial Institutions Division of Banks regulates more than 90 Washington State-chartered commercial banks, stock savings banks, mutual savings banks, foreign banks, savings and loan associations and independent trust companies. We charter new banks, business development corporations, trust companies, foreign banks and savings & loan associations. Also, we authorize new branches and branch closures; and approve mergers & acquisitions. Learn more about the Division of Banks.

About DFI
www.dfi.wa.gov ▪ 360.902-8700 ▪ 877.746-4334
The Washington State Department of Financial Institutions regulates a variety of financial service providers such as banks, credit unions, mortgage brokers, consumer loan companies, payday lenders and securities brokers and dealers. The department also works to improve financial education throughout Washington through its outreach programs and online clearinghouse www.dfi.wa.gov/financial-education. In addition to posting information about licensees and administrative actions, DFI uses the Web and social media to provide financial education information: http://www.twitter.com/FinEd4All, www.twitter.com/DFIConsumers, www.finlit.blogspot.com, www.youtube.com/user/WADFI, www.homeownership.wa.gov.

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