 TACOMA, Wash. SACRAMENTO, Calif., June 23, 2021 GLOBE NEWSWIRE -- Columbia Banking System, Inc. NASDAQ: COLB, Columbia, the holding company for Columbia State Bank, and Bank of Commerce Holdings NASDAQ: BOCH, Bank of Commerce, the holding company for Merchants Bank of Commerce, today announced the signing of a definitive agreement to merge Bank of Commerce into Columbia in an all-stock transaction valued at approximately 266.0 million, or 15.72 per share of Bank of Commerce common stock based on Columbias stock price on June 23, 2021. This transaction represents Columbias entrance into the California market, and the combined company will have over 150 branches with 19 billion in assets throughout Washington, Oregon, Idaho and California. 