Law Offices of Howard G. Smith Announces Investigation of Intermountain Community Bancorp

Law Offices of Howard G. Smith announces that it is investigating potential claims against the Board of Directors of Intermountain Community Bancorp (“Intermountain” or the “Company”) (NYSE:IMCB) related to the proposed acquisition of the Company by Columbia Banking System (“Columbia”). Intermountain shareholders are to receive $2.2930 in cash plus 0.6426 shares of Columbia common stock for each share of Intermountain held, valued at approximately $18.22 per share.

This investigation concerns whether the Board of Directors of Intermountain breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.

If you are a shareholder of Intermountain, if you have information or would like to learn more about our investigation, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.