Ronald Farnsworth will step down as Chief Financial Officer of Columbia Banking System, Inc. Ivan Seda, the company’s Deputy Chief Financial Officer, will assume the CFO role on December 31, 2025. Farnsworth will remain with the company as an advisor until June 1, 2026, to support a smooth transition.
Farnsworth has served as Columbia’s CFO since March 2023. Prior to that, he held the CFO position at Umpqua Holdings Corporation and Umpqua Bank from 2008 until their merger with Columbia in March 2023.
Seda joined Columbia in August 2025 as Deputy CFO. His previous experience includes serving as CFO at Union Bank, holding senior finance roles at MUFG, and acting as Deputy CFO at BECU.
Columbia reported its third‑quarter 2025 financial results on the same day as the CFO announcement. Net income was $96 million, operating net income was $204 million, and revenue reached $582 million. Operating earnings per share were $0.85, surpassing the $0.69 forecast. Net interest income rose by $59 million from the prior quarter, and the net interest margin was 3.84%, up 9 basis points. The company authorized a $700 million share repurchase program, tangible book value per common share was $18.57, and the estimated common equity tier 1 risk‑based capital ratio was 11.6%.
The CFO transition coincides with the completion of the Pacific Premier Bancorp acquisition on August 31, 2025, which expanded Columbia’s assets to roughly $70 billion and broadened its presence across eight western states. The company is focused on disciplined capital allocation, operational efficiency, and becoming a premier relationship‑based business bank in the Western U.S. CEO Clint Stein highlighted the successful integration of Pacific Premier and noted that core profitability remains strong, supported by deposit growth and balance‑sheet optimization.
The transition reflects Columbia’s strategy to strengthen its financial leadership during a period of significant growth and integration, positioning the firm to deliver sustained value to its stakeholders.
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