Bank launches veteran medical debt relief initiative in celebration of America's 250^th anniversary

TACOMA, Wash., July 2, 2026 /PRNewswire/ -- Columbia Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced its partnership with public benefit corporation ForgiveCo to eliminate $5 million in medical debt for veterans and their families. The initiative headlines Columbia Bank's commemoration this summer of America's 250th anniversary across its western footprint.

In partnership with ForgiveCo, Columbia Bank will eliminate medical debt for over 2,000 veterans and their families across Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. Those earning up to 80% of area median income with qualifying debt currently in collections will be randomly selected and notified by ForgiveCo, with no application required.

In addition to medical debt relief, recipients will have access to complimentary services that include counseling, guidance and educational resources to support long-term financial stability.

"Few priorities are more important than ensuring veterans and their families have access to economic opportunity," said Clint Stein, CEO of Columbia Bank. "As we celebrate America's 250th anniversary, we are proud to support those who have served our country and to help strengthen their financial futures."

Medical debt remains a significant barrier to financial well-being, often limiting access to credit, housing and employment opportunities. Since 2021, ForgiveCo has erased millions of dollars in debt nationwide by purchasing large portfolios of delinquent medical debt at a fraction of the original value and partnering with organizations to fund relief efforts.

"Medical debt can create lasting financial challenges for veterans, particularly during major life transitions such as returning to civilian life," said Craig Antico, CEO of ForgiveCo. "Many of the individuals we reach are carrying debts in collections that negatively impact their credit and limit their opportunities. Eliminating even a single debt can make a profound difference."

Celebrating America's 250th Anniversary

From June 1 through July 31, Columbia Bank is commemorating the 250th anniversary of the United States through a series of initiatives designed to support active-duty service members, veterans and organizations that serve them, including:

• Medical Debt Relief
  Columbia Bank is partnering with ForgiveCo to eliminate $5 million in medical debt for active-duty service members, veterans and their families.
• $100,000 in Nonprofit Grants
  Through a series of activities, Columbia Bank customers and associates will select four nonprofits supporting active-duty service members and veterans to receive $25,000 grants each.
• NASCAR Active-Duty and Veteran-Owned Business VIP Experience
  In partnership with Joe Gibbs Racing, McAnally-Hilgemann Racing and the Navy SEAL Foundation, Columbia Bank recently hosted a VIP experience for veteran and active-duty business owners from across its footprint.

For more information, visit ColumbiaBank.com/Veterans.

About Columbia Bank

Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.

About ForgiveCo

ForgiveCo is a public benefit corporation that provides business advisory services to corporations, non-profits, and brands for the acquisition, administration, and cancellation of consumer debt, and advisory services in the fields of branding, goodwill creation, and bulk debt management – Transforming debt into goodwill™. To learn more about ForgiveCo, please visit forgiveco.com and follow ForgiveCo on all major social media channels.

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SOURCE Columbia Bank