Columbia Banking System is moving most executive roles to Arizona, with CEO Clint Stein blaming Washington tax increases that he says will add $8 million to the bank’s annual costs.
Stein has permanently relocated from Auburn to Arizona, and several other executives have moved from Tacoma to the Scottsdale area. The company’s headquarters will remain in the Pacific Northwest for now, but Stein indicated that could eventually change.
The move comes as Washington voters prepare to decide whether to repeal the state’s new income tax, while businesses contend with increases in existing taxes…