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