#United States #Tacoma #Columbia Bank #Ivan Seda #Ronald Farnsworth

Columbia Banking System Announces Key CFO Transition

On October 30, 2025, Columbia Banking System, Inc., the parent company of Columbia Bank, declared a significant shift in its financial leadership with the announcement of Ronald Farnsworth’s impending departure from his role as Chief Financial Officer (CFO). Farnsworth, who has been driving Columbia’s financial strategy since March 2023, will officially step down on December 31, 2025. He previously held a prominent position at Umpqua Holdings Corporation before the companies merged.

Ronald Farnsworth will continue to support Columbia as an advisor until June 1, 2026, ensuring a seamless transition for his successor, Ivan Seda. Seda, who has been serving as Columbia’s Deputy CFO, will take over the role of CFO at the end of this year. This transition comes at a critical time for Columbia Banking System as it navigates the integration of its recent acquisition, the Pacific Premier Bancorp.

Farnsworth expressed gratitude for his time at Columbia, stating, "It has been a privilege to help lead Columbia during a transformative period of integration and optimization. I am confident that Ivan is well-positioned to step into the CFO role as the Company continues to deliver robust profitability and shareholder value creation."

The incoming CFO, Ivan Seda, has a rich background in finance, having previously held various executive roles, including CFO at Union Bank and leadership positions within MUFG. Commenting on his new role, Seda said, “It’s an honor to assume the role of CFO at such an exciting time in our company's history. Columbia is currently a highly profitable regional powerhouse with a strong financial foundation. I look forward to partnering with the entire Columbia team to build on our success by driving organic growth and delivering attractive shareholder returns.”

Columbia Banking System’s CEO, Clint Stein, praised Farnsworth’s contributions, highlighting his pivotal role in establishing Columbia as a leading banking franchise in the Western United States. Stein expressed confidence in Seda’s ability to carry forward the company's momentum, stating, “We are grateful to Ron for his many contributions to the Company and wish him the very best in his future endeavors.”

Seda brings a wealth of experience to his new role. He holds a Master’s degree in Accounting and a Bachelor of Arts in Business Administration from the University of Washington's Michael G. Foster School of Business. Additionally, he is a Chartered Financial Analyst (CFA) and previously held a Certified Public Accountant (CPA-Inactive) designation. Seda is also actively involved in his community, serving as a board member for the Seattle Aquarium.

Q3 2025 Financial Results

In conjunction with the leadership announcement, Columbia also released its financial results for the third quarter of 2025. The company has scheduled a conference call with investors and analysts to discuss these results in detail.

About Columbia Banking System, Inc.

Columbia Banking System, Inc. (Nasdaq: COLB), based in Tacoma, Washington, is the parent company of Columbia Bank, one of the largest banks headquartered in the Northwest and across the Western United States. Columbia Bank offers a comprehensive array of services including retail and commercial banking, Small Business Administration lending, and equipment leasing. With a commitment to superior, personalized service, Columbia Bank offers its customers extensive investment and wealth management expertise.

As the transition period unfolds, many are eager to see how Seda will shape the financial strategies and policies of Columbia Banking System in the coming years. This significant change underscores the bank's commitment to growth and stability in an ever-evolving financial landscape.