Ronald Farnsworth will step down as executive vice president, chief financial officer (CFO) of Columbia Banking System, the parent company of Columbia Bank, effective Dec. 31, 2025. Farnsworth has served as Columbia’s CFO since March 2023 and previously served as executive vice president, CFO of Umpqua and Umpqua Bank from 2008 until its merger with Columbia in 2023. Farnsworth will serve as an advisor to the company through June 1, 2026, to ensure a smooth transition.
Ivan Seda, deputy CFO of Columbia, will succeed Farnsworth as CFO, effective Dec. 31, 2025. Prior to joining Columbia in August 2025, Seda held several financial executive roles, including as CFO at Union Bank and head of financial planning and analysis and head of corporate finance and strategy – Americas at MUFG. Most recently, Seda was deputy CFO at BECU.
“Ron has played a key role in establishing Columbia as the leading Western banking franchise, optimizing our performance and better positioning the business to meaningfully expand long-term shareholder value. We are grateful to Ron for his many contributions to the company and wish him the very best in his future endeavors,” Clint Stein, CEO of Columbia, said.
“As we enter a new chapter for Columbia following the close of our Pacific Premier acquisition, we look forward to working with Ivan in his new role as CFO beginning next year,” Stein said. “Early in his tenure at Columbia, he has already made meaningful contributions to our team, and we are confident he will help us build on our momentum. On behalf of the board and management team, we congratulate Ivan on his new role.”
Farnsworth said, “It has been a privilege to help lead Columbia during a transformative period of integration and optimization. I am confident that Ivan is well-positioned to step into the CFO role as the company continues to deliver robust profitability and shareholder value creation. I look forward to working with Clint, Ivan and the rest of the team over the coming months to support a seamless transition.”
Seda said, “It’s an honor to assume the role of CFO at such an exciting time in our company’s history. Today, Columbia is a highly profitable regional powerhouse with a strong financial foundation, and I look forward to partnering with the entire Columbia team to build on our success by driving organic growth and delivering attractive shareholder returns.”
Seda holds both a master’s in accounting and a bachelor of arts in business administration from the University of Washington’s Michael G. Foster School of Business. He is a Chartered Financial Analyst (CFA) and former Certified Public Accountant (CPA-Inactive). Seda is actively involved in the local community and currently serves as a board member for Seattle Aquarium.
