Activist Investor HoldCo Calls Truce With Two Regional Banks (1)

Activist investor HoldCo Asset Management said it won’t pursue proxy fights against two regional lenders it’s had in its sights — at least for now.

The asset manager recently sent presentations to the management of Columbia Banking System Inc. and First Interstate BancSystem Inc. in which it outlined demands focused on pushing the two companies to publicly swear off acquisitions of other lenders, among other concerns related to capital allocation, including increasing buybacks. But, after recent concessions from the banks’ executives, HoldCo now sees both lenders on the right track.

Read More: First Interstate Is Activist Investor HoldCo’s Latest Target ...