Columbia Banking System Inc. of Tacoma, Wash., said it has terminated its deal to buy Capco Financial Co., a factoring company based in Bellevue, Wash.

J. James Gallagher, vice chairman of Columbia Banking, said the parties could not agree on final terms. Columbia Banking, with $1.2 billion of assets, had announced Oct. 28 that it would swap 530,000 shares of its stock for all of Capco's shares.

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