COLUMBIA BANKING SYSTEM, INC. Retirement follows successful integration and systems conversion of Northwest's two premier banks
LAKE OSWEGO, Ore., Feb. 26, 2024 /PRNewswire/ -- Umpqua Bank, a subsidiary of Columbia Banking System Inc. (Nasdaq: COLB), today announced the retirement of Eric Eid, Chief Integration Officer, effective April 1, 2024. Eid's retirement follows the recent closing of the bank's Integration Management Office, a division he co-led in support of the merger between Columbia Bank and Umpqua Bank.
Eid Joined Columbia Bank in 2010, during a period of exponential expansion through acquisition. He played an integral role in the development and execution of strategies that contributed to Columbia's growth. Throughout his tenure as Chief Information Officer, Eid implemented programs that yielded efficiencies by optimizing and automating processes across internal and customer-facing experiences. He also led efforts to modernize technical infrastructure, enabling robust digital solutions for customers while reducing risk through the modernization of fraud prevention tools. Eid's commitment to excellence and selfless leadership were also key to the bank's acquisition strategy.
Eid was instrumental in guiding Columbia Bank through a series of 10 mergers and technical systems conversions in 13 years. His ability to deliver a systems conversion with speed and precision enabled the critical task of executing multiple acquisitions in a year, affording the bank the opportunity to take advantage of time-sensitive FDIC-assisted acquisitions. The success of the conversion program allowed Columbia Bank to absorb several banks seamlessly and contributed to a reputation that set the bank apart as an acquirer of choice within the industry.
In recent years, Eid co-led the Integration Management Office for the merger of Columbia Bank and Umpqua Bank. The office oversaw all aspects of integration, as well as the systems conversion, providing strong governance across critical aspects of the merger. While the scale and complexity of the conversion were greater than either bank encountered in previous mergers, Eid leveraged his proven approach and experience to lead a successful conversion mere weeks after the close of the merger – a unique achievement in the industry.
"We want to thank Eric for his tremendous contributions to our company's growth. His leadership has been a driving force behind our technological advancements and successful integrations for more than a decade," said Clint Stein, CEO of Umpqua Bank. "I will miss working closely with Eric. He has left an indelible mark on our company and his legacy will continue to inspire our ongoing achievements in technology. We wish him a fulfilling retirement."
About Umpqua Bank
Umpqua Bank is a subsidiary of Columbia Banking System Inc. (Nasdaq: COLB), and a premier regional bank in the Western U.S., with offices in Oregon, Washington, California, Idaho, Nevada, Utah, Arizona and Colorado. With over $50 billion of assets, Umpqua combines the resources, sophistication and expertise of a national bank with a commitment to deliver personalized service at scale. The bank consistently ranks as one of America's Best Banks (ranked by Forbes) and supports consumers and businesses through a full suite of services, including retail and commercial banking; Small Business Administration lending; institutional and corporate banking; equipment leasing; and wealth management. The bank's corporate headquarters are in Lake Oswego, Oregon. Learn more at https://www.umpquabank.com.
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SOURCE Umpqua Bank
