Columbia Banking stockholder HoldCo will not pursue proxy contest

Columbia Banking (COLB) stockholder HoldCo Asset Management, a Florida-based investment firm managing approximately $2.6B in regulatory assets under management, released a presentation to Columbia Banking System disclosing that it owns common stock of Columbia Banking and consequently has an economic interest in the price of these securities. “In light of the recent concessions the Board and management made, HoldCo does not intend to pursue a proxy contest at the 2026 Annual Meeting,” said Misha Zaitzeff, Co-CIO of HoldCo. “We expect to be long-term shareholders for the next several years, and will be actively monitoring the company’s actions and capital allocation decisions.” Added Vik Ghei, co-CIO of HoldCo, “If the Board pursues actions inconsistent with our expectations and/or to the detriment of shareholders, we will not hesitate to take any action that we deem necessary to protect the rights of shareholders and drive value, including the potential pursuit of a proxy contest and/or advocating for a sale of the company.”