Columbia Bancorp Announces Stock Repurchase Program.THE DALLES dalles pl.n. The rapids of a river that runs between the steep precipices of a gorge or narrow valley. [French, pl. of dalle, gutter, from Old French, from Old Norse dæla.] , Ore. -- Columbia Bancorp (Nasdaq:CBBO), parent company of Columbia River Columbia River River, southwestern Canada and northwestern U.S. Rising in the Canadian Rockies, it flows through Washington state, entering the Pacific Ocean at Astoria, Ore.; it has a total length of 1,240 mi (2,000 km). Bank, authorized, at the May 24, 2005, meeting of the Board of Directors, a stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program for up to $1 million of its common stock. This repurchase program will be used to regulate capital and neutralize the effects from exercised stock options. The company intends to finance the purchases using its available cash. The company may repurchase shares in open market purchases or in privately negotiated transactions as permitted under Securities Exchange Act Rule 10b-18. The repurchase program may be modified, suspended or terminated by the Board of Directors at any time without notice. The extent to which the company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations. The company currently has 8.9 million shares of common stock outstanding and its stock closed at $19.21 per share on June 10, 2005. "We believe managing capital through share repurchases and regular cash dividends are an excellent way to share our success with shareholders," said Roger L. Christensen, President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . ABOUT COLUMBIA BANCORP Columbia Bancorp (www.columbiabancorp.com) is the financial holding company for Columbia River Bank, which operates 20 deposit gathering locations in The Dalles (2), Hood River The Hood River is a tributary of the Columbia River in northwestern Oregon in the United States. Approximately 25 mi (40 km) long from its mouth to its farthest headwaters on the East Fork, the river descends from wilderness areas in the Cascade Range on Mount Hood and flows , Bend (4), Madras, Redmond (2), Pendleton, Hermiston, McMinnville (3), Canby and Newberg, Oregon Newberg is a city in Yamhill County, Oregon, United States. A tradition holds that this town was named by its first postmaster, Sebastian Brutscher, for his former hometown of Neuberg in Germany. One of the current streets, Brutscher Street, is named after him. , and in Goldendale, White Salmon and Kennewick, Washington. To supplement the team spirit with its community banking services, Columbia River Bank also provides mortgage-lending services through its Columbia River Bank Mortgage Team and brokerage services through its affiliation with CRB CRB See: Commodity Research Bureau. Financial Services Team. NOTE REGARDING FORWARD LOOKING STATEMENTS Forward-looking statements with respect to the financial condition, results of operations and the business of Columbia, as well as the plans and present intentions of management and the board of directors, are subject to certain risks and uncertainties that could cause actual results to differ materially from those set forth in such statements. Readers should not construe construe v. to determine the meaning of the words of a written document, statute or legal decision, based upon rules of legal interpretation as well as normal meanings. these statements as assurances of performance or as guarantees of a particular course of action, and some factors that could cause us to deviate from our plans or to vary from our expectations include the impact of competition and interest rates on revenues and margins, the trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. and price of our stock, and other risks and uncertainties detailed from time to time in Columbia's public announcements and filings with the Securities and Exchange Commission ("SEC"). Forward-looking statements can be identified by the use of forward-looking terminology, such as "may", "will", "should", "expect", "anticipate", "estimate", "continue", "plans", "intends", or other similar terminology. Columbia does not intend to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release, other than in its periodic filings with the SEC, or to reflect the occurrence of unanticipated events. |
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