Item 7.01 Regulation FD Disclosure

On August 11, 2009, Columbia Banking System, Inc. (the "Company") announced that it raised approximately $120 million through a previously announced public offering by issuing 9,775,000 shares of the Company's common stock, including 1,275,000 shares pursuant to the underwriters' over-allotment option, at a price of $12.25 per share. The net proceeds to the Company after deducting underwriting discounts and commissions and estimated offering expenses are expected to be approximately $113.8 million. Keefe, Bruyette & Woods, Inc. acted as lead book-running manager of the offering, with D.A. Davidson & Co. as a co-manager.

In accordance with General Instruction B.2. of Form 8-K, the information in Item 7.01 and the press release shall not be deemed "filed" for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall such information and exhibit be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01. Financial Statements and Exhibits.

(a) Financial Statements: None

(b) Pro Forma Financial Information: None

(c) Shell Company Transactions: None

(d) Exhibits.

99.1 Press Release dated August 11, 2009, announcing the exercise of the over-allotment and settlement of the offering.

---