Magazine : Archives : 2nd Quarter 2022

A Banking Giant is Born

At 3:30 in the morning on Oct. 12, 2021, Clint Stein woke up after four hours of sleep. That the now-50-year-old chief executive officer of Columbia Banking System had slept at all was a miracle. The day ahead, Stein knew, would be the biggest of his career. As Stein drove through the dark streets to his office overlooking the harbor in downtown Tacoma, Washington, he knew that a press release was minutes away from hitting the newswire and sending shockwaves across the Pacific Northwest business community. The region’s biggest banks, Stein’s Columbia and Portland, Oregon-based Umpqua Holdings Corp., had decided...