Activist investor HoldCo won't pursue proxy contests at two regional banks

[Modern Bank]
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Activist investor HoldCo Asset Management said it won't pursue proxy fights against Columbia Banking System (COLB [https://seekingalpha.com/symbol/COLB]) and First Interstate BancSystem (FIBK [https://seekingalpha.com/symbol/FIBK]).

"In light of the recent concessions the Board and management made, HoldCo does not intend to pursue a proxy contest at the 2026 Annual Meeting," Misha Zaitzeff, Co-CIO of HoldCo. said in separate statements [https://seekingalpha.com/pr/20296914-c-o-r-r-e-c-t-i-o-n-holdco-asset-management]on Thursday about Columbia Banking System (COLB [https://seekingalpha.com/symbol/COLB]) and First Interstate (FIBK [https://seekingalpha.com/symbol/FIBK]).

The statements come after a Bloomberg report last month that HoldCo took a stake [https://seekingalpha.com/news/4505729-first-interstate-bancsystem-gains-amid-report-of-activist-stake] in First Interstate and told the regional lender to stop acquisitions and repurchase shares, or the investor will push for a sale. HoldCo holds a roughly 2% stake in Columbia and about 4% of First Interstate, according to Bloomberg.

Shares of First Interstate (FIBK [https://seekingalpha.com/symbol/FIBK]) fell 1.7%, while Columbia Banking (COLB [https://seekingalpha.com/symbol/COLB]) edged lower by 1%.

MORE ON FIRST INTERSTATE BANC, COLUMBIA BANKING SYSTEM

* Columbia Banking System, Inc. 2025 Q3 - Results - Earnings Call Presentation [https://seekingalpha.com/article/4836234-columbia-banking-system-inc-2025-q3-results-earnings-call-presentation]
* Columbia Banking System, Inc. (COLB) Q3 2025 Earnings Call Transcript [https://seekingalpha.com/article/4836132-columbia-banking-system-inc-colb-q3-2025-earnings-call-transcript]
* First Interstate BancSystem, Inc. (FIBK) Q3 2025 Earnings Call Transcript [https://seekingalpha.com/article/4835707-first-interstate-bancsystem-inc-fibk-q3-2025-earnings-call-transcript]
* Columbia Banking System signals accelerated capital return with $700M buyback and targets $8B loan optimization amid Pac Premier integration [https://seekingalpha.com/news/4512110-columbia-banking-system-signals-accelerated-capital-return-with-700m-buyback-and-targets-8b]
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