A Kafkaesque Stake: $147M in Columbia Banking’s Labyrinth

According to the filing, a document that might as well have been etched into parchment by some forgotten clerk, HoldCo’s position in Columbia Banking System expanded during the third quarter. The new stake, 5.72 million shares, carried a valuation of $147.30 million as of September 30-a date chosen not for its significance but by the arbitrary rhythm of quarterly reckonings. The bank, with its branches sprawling across Washington, Oregon, Idaho, and California, now constitutes 15.55% of HoldCo’s $947.56 million 13F AUM, a fraction that seems both deliberate and absurd.








