Columbia Banking System, Inc. (NASDAQ:COLB) Q4 2022 Earnings Call Transcript

Clint Stein: Well, our highest priority is getting to February 28 and getting our merger closed and then assimilating the two companies. And we’re both very experienced at that. And I think the work that we’ve done, we haven’t let the protracted closing process go to waste. We’ve got a clearly defined combined culture. We’ve put a few thousand of our associates from both companies through training on that. So, I think that the process of, what I’ll say, the systems piece, that’s all scheduled. I think social aspect of integrating two large companies is well underway and has been for quite some time. And so, as we emerge from the back half or into the back half of — approach the end of ’23, that’s where we’ll refine our combined strategy and strategic plan in terms of what we — will be our primary focus over the next two to five years.

M&A, I envision, will be a part of that. The challenge, frankly, that we’ll have is at $50-plus billion and with the growth capabilities, organic growth capabilities that we have today — I mean, if you look at what the two banks have done in the midst of all this uncertainty around when the closing would be, the expansion in the de novo markets, the production that those teams have had, there’s, I would say, a short list of quality franchises that would meet our hurdle from an M&A perspective. But we have more work to do on that. We have to get the work at-hand done first and then we’ll turn our focus to what targets might be a good fit for us and make a meaningful difference in terms of the size of the combined organization.

Matthew Clark: Okay. Thank you.

Operator: And thank you. And I’m showing no further questions. I would now like to turn the call back over to Clint Stein for closing remarks.

Clint Stein: Great. Thanks, Justin. Thank you again for joining our call this morning. Have a good day, everyone. Bye.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.