SummaryColumbia Banking System is rated BUY, offering a 5% yield and a $1.2 billion share buyback, supporting a compelling risk/reward profile.COLB's 3Q26 results exceeded expectations, with NIM above 4%, strong credit quality, and efficiency ratio at 51.34%, outperforming industry benchmarks.The Pacific Premier Bancorp acquisition expands COLB's geographic reach and is expected to be mid-teens EPS accretive, enhancing commercial relationships and non-interest income.Shares trade at a 20% discount to sector median P/B, with higher forward ROE and robust capital ratios, providing both income and growth appeal. J Studios/DigitalVision via Getty Images
Summary Columbia Banking System, Inc. (COLB) is rated a BUY. The stock is yielding 5% compared to the financial sector median of 2.8%. In addition, management just announced a $1.2 billion share buyback. 3Q26 results were stronger than expected, where
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4 Dividend Growth Stocks the Trade Tariffs Can’t TouchColumbia Banking System NASDAQ: COLB reported third-quarter 2026 earnings per share of $0.78 and operating EPS of $0.82, as the regional bank cited balance-sheet optimization, customer deposit growth and expense discipline as drivers of improved profitability.
Operating pre-provision net revenue rose 7% from the second quarter and 25% from a year earlier, while operating net income increased 6% sequentially and 12% year over year, according to Chief Financial Officer Ivan Seda. The year-over-year comparison also benefited from the addition of Pacific Premier, whose acquisition closed in August 2025.
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Chairman, Chief Executive Officer and President Clint Stein said the company has focused on consistent performance, reshaping its balance sheet and returning excess capital to shareholders. Columbia returned more than $1 billion to shareholders over the past year through dividends and share repurchases, he said, and completed a buyback program that reduced its common share count by 8% over the authorization period.
The board has authorized a new $1.2 billion share repurchase program. Columbia expects to repurchase between $150 million and $200 million of shares during the fourth quarter, Seda said.
Margin expansion and funding changes
Net interest margin rose to 4.11% in the third quarter. Adjusting for a 3-basis-point benefit from accelerated repayments during the quarter and a 3-basis-point effect from one-time credit-related interest reversals in the prior quarter, Seda said margin expanded 12 basis points sequentially.
Average earning assets totaled $59.8 billion, reflecting modest contraction as the company continued to optimize its balance sheet and experienced elevated commercial real estate payoffs. Columbia reduced wholesale funding by $1.5 billion between June 30 and Sept. 30, including public wholesale balances, as customer deposits increased.
The company forecast fourth-quarter net interest margin of about 4.05%, including the modest negative carry from holding excess subordinated debt during the quarter while it works through planned trust-preferred securities redemptions. Seda said Columbia expects margin to remain above 4%, excluding unusual items, and to operate in the low-4% range over the next several quarters.
During the third quarter, Columbia issued $250 million of subordinated notes. The company expects to use the proceeds to redeem about $240 million of junior subordinated debentures tied to trust-preferred securities through early 2027. The redemptions are expected to reduce the total risk-based capital ratio by roughly 50 basis points, all else equal.
Commercial lending, deposits and fee income
Co-President Tory Nixon said the loan portfolio continues to shift toward relationship-based commercial banking. Commercial loans, including owner-occupied commercial real estate, represented 43% of the total portfolio at quarter end, compared with 42% at June 30 and 39% a year earlier.
Total loans declined to $46.9 billion from $47.2 billion in the prior quarter, though the rate of decline slowed. Columbia originated $1.2 billion in loans during the quarter, with nearly 70% tied to commercial lending. Management said it continued to avoid transactions with pricing, leverage levels or non-recourse structures it considered unattractive.
Columbia expects loan balances to remain flat to modestly lower through the fourth quarter and into early 2027 as it continues to run off transactional lending and emphasizes commercial relationship growth. Nixon said commercial and industrial lending has grown at a low- to mid-single-digit annualized pace in recent quarters.
Total deposits rose to $52.7 billion from $52.1 billion at June 30. Customer deposits increased by nearly $1.2 billion during the quarter, aided by seasonal balances and new customer activity, while the company intentionally reduced public wholesale and brokered balances.
The average cost of interest-bearing deposits declined 1 basis point to 1.95%, while the spot cost of deposits stood at 1.96% at Sept. 30. Seda said management continues to use a through-the-cycle deposit beta assumption of roughly 50%.
Management also pointed to growth in fee-generating businesses. Nixon said treasury management revenue increased 7% year over year, international banking rose 19%, commercial card income increased 23%, and merchant card income rose 11%. He said commercial deposit growth was led in part by Southern California teams acquired through Pacific Premier.
Expenses, credit and capital
Operating noninterest expense was $365 million, unchanged from the second quarter. Excluding core deposit intangible amortization, Columbia expects fourth-quarter noninterest expense of $330 million to $335 million as it continues to invest in the franchise.
Seda said the company identified roughly $132 million to $133 million in savings tied to the Pacific Premier integration, above its original $127 million target. For 2027, he said an expense-growth assumption around 2% would be reasonable as the bank balances continued investments in people, technology and infrastructure with cost discipline.
Provision expense was $33 million in the quarter. The allowance for credit losses was 1.02% of total loans at quarter end, or 1.25% including the credit discount on acquired loans. Seda said credit metrics remained stable and healthy, and characterized the reserve change as primarily reflecting the economic forecast used in credit models rather than portfolio-specific deterioration.
Columbia’s CET1 ratio was 11.5% at quarter end, while its total risk-based capital ratio rose to 13.8%. Tangible book value per share declined to $18.10, primarily because higher interest rates increased accumulated other comprehensive losses.
Management said it closed four branches during the quarter while opening a branch and a financial hub in Utah. Stein said the company will continue to assess branch density, customer demand and opportunities in growth markets, while maintaining that branches remain important to its relationship-banking strategy.
About Columbia Banking System (NASDAQ:COLB)Columbia Banking System, Inc is a bank holding company headquartered in Tacoma, Washington. It operates through Umpqua Bank, a full-service financial institution serving consumers, businesses, professionals and institutions.
Umpqua Bank provides deposit accounts, residential and commercial lending, business banking, treasury and cash-management services, mortgage banking, personal banking and wealth-management solutions. Its offerings include checking and savings accounts, commercial real estate and business loans, consumer credit, online and mobile banking, and investment and advisory services.
Columbia Banking System traces its roots to the formation of Columbia State Bank in Washington in 1993.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Columbia Banking (COLB) came out with quarterly earnings of $0.82 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $0.85 per share a year ago.
While the top- and bottom-line numbers for Columbia Banking (COLB) give a sense of how the business performed in the quarter ended September 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Columbia Banking System, Inc. (COLB) Q3 2026 Earnings Call October 22, 2026 5:00 PM EDT
Company Participants
Jacquelynne Bohlen - Head of Investor Relations
Clint Stein - President, CEO & Chairman of the Board
Ivan Seda - CFO & Executive VP
Torran Nixon - Senior EVP & Co-President of Columbia Bank
Christopher Merrywell - Co-President
Conference Call Participants
Jon Arfstrom - RBC Capital Markets, Research Division
Christopher McGratty - Keefe, Bruyette, & Woods, Inc., Research Division
Jeff Rulis - D.A. Davidson & Co., Research Division
David Feaster - Raymond James & Associates, Inc., Research Division
Bernard Von Gizycki - Deutsche Bank AG, Research Division
Matthew Clark - Piper Sandler & Co., Research Division
David Chiaverini - Jefferies LLC, Research Division
Sun Young Lee - TD Cowen, Research Division
Timur Braziler - UBS Investment Bank, Research Division
Jonathan Rau - Barclays Bank PLC, Research Division
Presentation
Operator
Hello, and welcome to Columbia Banking System's Third Quarter 2026 Earnings Conference Call. [Operator Instructions] At this time, I would like to introduce Jacque Bohlen, Director of Investor Relations, to begin the conference. You may begin.
Jacquelynne Bohlen
Head of Investor Relations
Thank you, Towanda. Good afternoon, everyone. Thank you for joining us as we review our third quarter results. The earnings release and corresponding presentation are available on our website at columbiabankingsystem.com. During today's call, we will make forward-looking statements, which are subject to risks and uncertainties and are intended to be covered by the safe harbor provisions of federal securities law. For a list of factors that may cause actual results to differ materially from expectations, please refer to the disclosures contained within our SEC filings. We will also reference non-GAAP financial measures, and I encourage you to review the non-GAAP reconciliations provided in our earnings materials.
I will now hand the call over to Columbia's Chairman, Chief Executive Officer and President, Clint Stein.
"Our third quarter performance demonstrates the benefits of consistent execution and active balance sheet management," said Clint Stein, Chairman, CEO & President. "By remaining focused on relationship-driven growth, prudent loan and deposit pricing, and operational discipline, we continued to improve our profitability while maintaining strong credit quality and returning excess capital. Over the past year, we returned over $1 billion to our shareholders through dividends and share repurchases, completing our existing buyback authorization in the process. Our Board of Directors has authorized a new $1.2 billion share repurchase program, reflecting confidence in our long-term strategy and our outlook for continued excess capital generation. We remain focused on growing our franchise in ways that strengthen customer relationships, enhance the quality of our balance sheet, and support attractive long-term returns for our shareholders."
Clint Stein, Chairman, CEO & President of Columbia Banking System, Inc.
3Q26 HIGHLIGHTS (COMPARED TO 2Q26)
Net Interest
Income and
NIM
Net interest income increased by $26 million
from the prior quarter, due to higher income on
loans and investment securities and lower
funding costs.
Net interest margin was 4.11%, up 18 basis
points from the prior quarter, due to higher
yields on loans and investment securities and a
favorable funding mix shift, as growth in
customer deposits was used to pay down
wholesale funding sources.
Non-Interest
Income and
Expense
Non-interest income decreased by $8 million.
Excluding the impact of fair value and hedges,1
non-interest income decreased by $4 million,
due primarily to $3 million of death benefit
proceeds recorded during the second quarter
related to a single policy that did not recur in the
third quarter.
Non-interest expense decreased by $5 million,
due to lower merger expense.
Credit
Quality
Net charge-offs were 0.24% of average loans
and leases (annualized), compared to 0.25% for
the prior quarter.
Provision expense was $33 million, compared to
$27 million for the prior quarter.
Non-performing assets to total assets ratio was
0.39%, compared to 0.42% as of June 30, 2026.
Capital
Estimated total risk-based capital ratio of 13.8%
and estimated common equity tier 1 risk-based
capital ratio of 11.5%.
Declared a quarterly cash dividend of $0.37 per
common share on August 14, 2026, which was
paid September 14, 2026.
Repurchased $199 million of common stock,
completing our previously announced
repurchase plan.
Notable
Items
Our second customer deposit campaign of
2026, which began in June and ended in mid-
August, brought over $700 million in new
deposits to the bank.
Our Board of Directors authorized the
repurchase of up to $1.2 billion of common
stock under a new repurchase plan, which has
no expiration date.
3Q26 KEY FINANCIAL DATA
PERFORMANCE METRICS
3Q26
2Q26
3Q25
Return on average assets
1.34 %
1.27 %
0.67 %
Return on average common equity
11.78 %
10.99 %
6.19 %
Return on average tangible common equity1
16.43 %
15.29 %
8.58 %
Operating return on average assets1
1.40 %
1.33 %
1.42 %
Operating return on average common equity1
12.27 %
11.46 %
13.15 %
Operating return on average tangible common equity1
17.11 %
15.95 %
18.24 %
Net interest margin
4.11 %
3.93 %
3.84 %
Efficiency ratio
53.08 %
55.15 %
67.29 %
Operating efficiency ratio, as adjusted 1
51.34 %
52.92 %
52.32 %
INCOME STATEMENT
($ in millions, excl. per share data)
3Q26
2Q26
3Q25
Net interest income
$615
$589
$505
Provision for credit losses
$33
$27
$70
Non-interest income
$80
$88
$77
Non-interest expense
$370
$375
$393
Pre-provision net revenue1
$325
$302
$189
Operating pre-provision net revenue1
$337
$314
$270
Earnings per common share - diluted
$0.78
$0.73
$0.40
Operating earnings per common share - diluted1
$0.82
$0.76
$0.85
Dividends paid per share
$0.37
$0.37
$0.36
BALANCE SHEET
($ in millions, excl. per share data)
3Q26
2Q26
3Q25
Total assets
$65,135
$65,380
$67,496
Loans and leases
$46,915
$47,166
$48,462
Deposits
$52,740
$52,056
$55,771
Book value per common share
$25.62
$26.70
$26.04
Tangible book value per common share1
$18.10
$19.22
$18.57
Organizational Update
During the third quarter, Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") opened two depository locations in Utah: a branch in Draper and a financial hub in Pleasant Grove. These openings support our continued organic expansion in key markets, while the closure of four branches reflects our ongoing efforts to optimize our physical presence.
Capital Update and Share Repurchase Authorization Announcement
In September 2026, Columbia Bank, the wholly-owned subsidiary of Columbia, issued $250 million in aggregate principal amount of subordinated notes due in 2036. The notes bear interest at a fixed annual rate of 6.721% for the first five years, after which they will reset to the Five-Year U.S. Treasury Rate plus 195 basis points. The Company intends to use a portion of the proceeds to redeem approximately $240 million in aggregate principal amount of the Company's junior subordinated debentures associated with certain trust preferred securities structures, with redemptions expected to occur during the fourth quarter of 2026 and early 2027.
During the third quarter, Columbia completed its previously announced share repurchase plan, buying back 23.3 million common shares at an average price of $29.88 between November 2025 and September 30, 2026, representing 7.8% of outstanding common shares as of September 30, 2025. As such, Columbia's Board of Directors has authorized the repurchase of up to $1.2 billion of common stock under a new repurchase plan. COLB common share repurchases may be executed in the open market or through privately negotiated transactions, including under Rule 10b5-1 plans. The timing and exact amount of common share repurchases will be at the discretion of senior management and subject to various factors, including, without limitation, Columbia's capital position, financial performance, market conditions, and regulatory considerations. The repurchase program does not obligate Columbia to purchase any particular number of shares. The authorization has no expiration date, but may be suspended, terminated, or modified by the Board at any time.
Net Interest Income and Net Interest Margin
Net interest income was $615 million for the third quarter of 2026, up $26 million from the second quarter of 2026, due to higher income on loans and investment securities and lower funding costs. Net interest income also benefited from $5 million of interest income related to the accelerated repayment of two acquired loans. In comparison, second quarter results included $4 million of interest income reversals that did not recur in the current quarter.
Columbia's net interest margin was 4.11% for the third quarter of 2026, up 18 basis points from the second quarter of 2026. The increase between periods reflects higher yields on loans and leases, driven by a continued shift in the portfolio mix toward higher-yielding relationship loans and repricing trends within the portfolio. Favorable funding mix trends also contributed to the increase, as customer deposits replaced higher-cost wholesale funding sources. Higher yields on taxable securities further benefited net interest margin, as the adverse impact of changes in prepayment speed expectations experienced during the second quarter did not recur in the third quarter. Third quarter net interest margin benefited by 3 basis points from the accelerated loan repayments discussed above. In comparison, interest income reversals reduced second quarter net interest margin by 3 basis points.
The cost of interest-bearing deposits decreased 1 basis point from the prior quarter to 1.95% for the third quarter of 2026, compared to 1.96% for the second quarter of 2026. The decrease during the third quarter reflects our active management of deposit rates and a lower mix of higher-cost brokered and wholesale public deposits. The cost of interest-bearing deposits was 1.96% for both the month of September and as of September 30, 2026.
Columbia's cost of interest-bearing liabilities decreased 1 basis point from the prior quarter to 2.20% for the third quarter of 2026, compared to 2.21% for the second quarter of 2026. The cost of interest-bearing liabilities was 2.21% for the month of September and 2.23% as of September 30, 2026. Refer to the Q3 2026 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.
Non-interest Income
Non-interest income was $80 million for the third quarter of 2026, down $8 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value loss of $7 million for the third quarter, compared to a net fair value loss of $3 million for the second quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $87 million[2] for the third quarter of 2026, down $4 million from the prior quarter, due primarily to $3 million of death benefit proceeds recorded in other income during the second quarter related to a single policy that did not recur in the third quarter.
Non-interest Expense
Non-interest expense was $370 million for the third quarter of 2026, down $5 million from the prior quarter, due to lower merger expense. Excluding merger and restructuring expense and exit and disposal costs, as detailed in our non-GAAP disclosures, non-interest expense was $365 million2, down $1 million from the prior quarter, due primarily to lower benefits expense, partially offset by an increase in other miscellaneous expenses. Refer to the Q3 2026 Earnings Presentation for additional expense details.
Balance Sheet
Total consolidated assets were $65.1 billion as of September 30, 2026, compared to $65.4 billion as of June 30, 2026. The decrease reflects balance sheet optimization activity. Cash and cash equivalents were $1.7 billion as of September 30, 2026, compared to $1.8 billion as of June 30, 2026. Including secured off-balance sheet lines of credit, total available liquidity was $26.0 billion as of September 30, 2026, representing 40% of total assets, 49% of total deposits, and 121% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $10.9 billion as of September 30, 2026, compared to $11.1 billion as of June 30, 2026. The decrease reflects a decline in the fair value of the portfolio and paydowns, which were not fully offset by the purchase of $639 million of investment securities. Refer to the Q3 2026 Earnings Presentation for additional details related to our investment securities portfolio and liquidity position.
Gross loans and leases were $46.9 billion as of September 30, 2026, compared to $47.2 billion as of June 30, 2026. The decrease reflects continued expected runoff in below-market-rate transactional loans and lower commercial real estate balances, as elevated payoffs and competitive pricing pressures muted growth. Construction & development balances expanded during the quarter, and commercial loans, inclusive of owner-occupied commercial real estate, increased by 3% on an annualized basis relative to June 30, 2026, partially offsetting contraction in other portfolios. "Our bankers continued to deepen customer relationships and generate new business opportunities during the third quarter," commented Chris Merrywell, President of Columbia Bank. "Commercial loan growth remained healthy, supported by strong customer engagement across our markets. While transactional loan payoffs moderated overall growth, we continued to grow in the ways we intend, increasing the proportion of relationship-based commercial loans within our portfolio." Refer to the Q3 2026 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans.
Total deposits were $52.7 billion as of September 30, 2026, compared to $52.1 billion as of June 30, 2026. The increase reflects strong customer balance growth, partially offset by intentional reductions in brokered deposits and wholesale public deposits, which declined to $622 million and $773 million, respectively, as of September 30, 2026, compared to $978 million and $928 million, respectively, as of June 30, 2026. "Deposit growth during the third quarter benefited from seasonal customer balance growth and new customer acquisition," stated Mr. Merrywell. "Our teams remain focused on understanding our customers' needs and delivering tailored solutions that create value beyond pricing, reinforcing the customer relationships that differentiate our franchise in an evolving interest rate environment." Customer deposit growth and other sources of cash enabled us to reduce borrowings to $3.3 billion as of September 30, 2026, compared to $4.3 billion as of June 30, 2026. Refer to the Q3 2026 Earnings Presentation for additional details related to deposit characteristics and flows.
Credit Quality
The allowance for credit losses ("ACL") was $480 million, or 1.02% of loans and leases, as of September 30, 2026, compared to $475 million, or 1.01% of loans and leases, as of June 30, 2026. The provision for credit losses was $33 million for the third quarter of 2026 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.
Net charge-offs were 0.24% of average loans and leases (annualized) for the third quarter of 2026, compared to 0.25% for the second quarter of 2026. Net charge-offs in the FinPac portfolio were $11 million for the third quarter, compared to $15 million for the second quarter. Net charge-offs excluding the FinPac portfolio were $17 million for the third quarter, compared to $15 million for the second quarter. Non-performing assets were $255 million, or 0.39% of total assets, as of September 30, 2026, compared to $273 million, or 0.42% of total assets, as of June 30, 2026. Refer to the Q3 2026 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends.
Capital
Columbia's book value per common share was $25.62 as of September 30, 2026, compared to $26.70 as of June 30, 2026. During the third quarter, Columbia repurchased 6.5 million common shares under its prior repurchase plan at an average price of $30.65, representing 2.3% of outstanding common shares. Book value also was impacted by the change in accumulated other comprehensive (loss) income ("AOCI") to $(708) million as of September 30, 2026, compared to $(310) million as of the prior quarter-end. The change in AOCI is due primarily to an increase in the tax-effected net unrealized loss on available-for-sale securities to $663 million as of September 30, 2026, compared to $275 million as of June 30, 2026. Tangible book value per common share[3] was $18.10 as of September 30, 2026, compared to $19.22 as of June 30, 2026.
Columbia's estimated total risk-based capital ratio was 13.8% and its estimated common equity tier 1 risk-based capital ratio was 11.5% as of September 30, 2026, compared to 13.5% and 11.7%, respectively, as of June 30, 2026. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of September 30, 2026 are estimates, pending completion and filing of Columbia's regulatory reports.
Earnings Presentation and Conference Call Information
Columbia's Q3 2026 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com.
Columbia will host its third quarter 2026 earnings conference call on October 22, 2026 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its third quarter 2026 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time.
Join the audiocast: https://edge.media-server.com/mmc/p/ock9xnut/
Register for the call: https://register-conf.media-server.com/register/BI681367d8eaa3452084f342f40e7ffe6c
Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx
About Columbia Banking System, Inc.
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed or continued high inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) any revenue synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (ii) deposit attrition as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia and its Board of Directors.
1
"Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
2
"Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
3
"Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
TABLE INDEX
Page
Consolidated Statements of Income
8
Consolidated Balance Sheets
9
Financial Highlights
11
Loan & Lease Portfolio Balances and Mix
12
Deposit Portfolio Balances and Mix
14
Credit Quality - Non-performing Assets
15
Credit Quality - Allowance for Credit Losses
16
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
18
Residential Mortgage Banking Activity
20
GAAP to Non-GAAP Reconciliation
22
Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
Quarter Ended
% Change
($ in millions, shares in thousands)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Seq.
Quarter
Year
over
Year
Interest income:
Loans and leases
$ 699
$ 683
$ 684
$ 722
$ 619
2 %
13 %
Interest and dividends on investments:
Taxable
105
98
103
102
89
7 %
18 %
Exempt from federal income tax
11
12
12
12
8
(8) %
38 %
Dividends
4
4
3
3
4
— %
— %
Temporary investments and interest bearing deposits
13
13
14
19
20
— %
(35) %
Total interest income
832
810
816
858
740
3 %
12 %
Interest expense:
Deposits
171
173
184
195
195
(1) %
(12) %
Securities sold under agreement to repurchase and
federal funds purchased
—
1
1
1
1
(100) %
(100) %
Borrowings
38
39
30
27
30
(3) %
27 %
Subordinated and junior subordinated debentures
8
8
7
8
9
— %
(11) %
Total interest expense
217
221
222
231
235
(2) %
(8) %
Net interest income
615
589
594
627
505
4 %
22 %
Provision for credit losses
33
27
28
23
70
22 %
(53) %
Non-interest income:
Service charges on deposits
24
23
20
24
21
4 %
14 %
Card-based fees
17
17
15
16
15
— %
13 %
Financial services and trust revenue
15
15
15
15
9
— %
67 %
Residential mortgage banking revenue, net
9
7
12
7
7
29 %
29 %
(Loss) gain on investment securities, net
(8)
(1)
—
2
2
nm
(500) %
Gain on loan and lease sales, net
—
—
1
1
—
nm
nm
(Loss) gain on loans held for investment, at fair value
(3)
(1)
(2)
—
4
200 %
(175) %
BOLI income
9
9
9
9
6
— %
50 %
Other income
17
19
13
16
13
(11) %
31 %
Total non-interest income
80
88
83
90
77
(9) %
4 %
Non-interest expense:
Salaries and employee benefits
191
196
196
201
171
(3) %
12 %
Occupancy and equipment, net
63
65
66
67
54
(3) %
17 %
FDIC assessments
9
9
9
4
8
— %
13 %
Intangible amortization
38
38
41
42
31
— %
23 %
Merger and restructuring expense
2
9
24
39
87
(78) %
(98) %
Other expenses
67
58
58
59
42
16 %
60 %
Total non-interest expense
370
375
394
412
393
(1) %
(6) %
Income before provision for income taxes
292
275
255
282
119
6 %
145 %
Provision for income taxes
72
67
63
67
23
7 %
213 %
Net income
$ 220
$ 208
$ 192
$ 215
$ 96
6 %
129 %
Weighted average basic shares outstanding (in thousands)
279,221
285,558
290,933
295,376
237,838
(2) %
17 %
Weighted average diluted shares outstanding (in thousands)
280,338
286,472
292,160
296,760
238,925
(2) %
17 %
Earnings per common share – basic
$ 0.78
$ 0.73
$ 0.66
$ 0.72
$ 0.40
7 %
95 %
Earnings per common share – diluted
$ 0.78
$ 0.73
$ 0.66
$ 0.72
$ 0.40
7 %
95 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
Nine Months Ended
% Change
($ in millions, shares in thousands)
Sep 30, 2026
Sep 30, 2025
Year over
Year
Interest income:
Loans and leases
$ 2,066
$ 1,736
19 %
Interest and dividends on investments:
Taxable
306
238
29 %
Exempt from federal income tax
35
22
59 %
Dividends
11
10
10 %
Temporary investments and interest bearing deposits
40
52
(23) %
Total interest income
2,458
2,058
19 %
Interest expense:
Deposits
528
552
(4) %
Securities sold under agreement to repurchase and federal funds purchased
2
3
(33) %
Borrowings
107
101
6 %
Subordinated and junior subordinated debentures
23
26
(12) %
Total interest expense
660
682
(3) %
Net interest income
1,798
1,376
31 %
Provision for credit losses
88
127
(31) %
Non-interest income:
Service charges on deposits
67
60
12 %
Card-based fees
49
42
17 %
Financial services and trust revenue
45
20
125 %
Residential mortgage banking revenue, net
28
24
17 %
(Loss) gain on investment securities, net
(9)
4
(325) %
Gain on loan and lease sales, net
1
—
nm
(Loss) gain on loans held for investment, at fair value
(6)
11
(155) %
BOLI income
27
16
69 %
Other income
49
31
58 %
Total non-interest income
251
208
21 %
Non-interest expense:
Salaries and employee benefits
583
471
24 %
Occupancy and equipment, net
194
149
30 %
FDIC assessments
27
24
13 %
Intangible amortization
117
85
38 %
Merger and restructuring expense
35
109
(68) %
Legal settlement
—
55
(100) %
Other expenses
183
118
55 %
Total non-interest expense
1,139
1,011
13 %
Income before provision for income taxes
822
446
84 %
Provision for income taxes
202
111
82 %
Net income
$ 620
$ 335
85 %
Weighted average basic shares outstanding (in thousands)
285,128
218,694
30 %
Weighted average diluted shares outstanding (in thousands)
286,246
219,712
30 %
Earnings per common share – basic
$ 2.17
$ 1.53
42 %
Earnings per common share – diluted
$ 2.16
$ 1.53
41 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Balance Sheets
(Unaudited)
% Change
($ in millions, shares in thousands)
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Seq.
Quarter
Year
over
Year
Assets:
Cash and due from banks
$ 572
$ 648
$ 577
$ 511
$ 535
(12) %
7 %
Interest-bearing cash and temporary investments
1,165
1,121
1,522
1,869
1,808
4 %
(36) %
Investment securities:
Equity and other, at fair value
128
126
124
113
112
2 %
14 %
Available for sale, at fair value
10,935
11,131
10,915
11,112
11,013
(2) %
(1) %
Held to maturity, at amortized cost
17
17
18
18
18
— %
(6) %
Loans held for sale
45
61
81
262
340
(26) %
(87) %
Loans and leases
46,915
47,166
47,697
47,776
48,462
(1) %
(3) %
Allowance for credit losses on loans and leases
(462)
(458)
(459)
(466)
(473)
1 %
(2) %
Net loans and leases
46,453
46,708
47,238
47,310
47,989
(1) %
(3) %
Restricted equity securities
164
207
168
159
119
(21) %
38 %
Premises and equipment, net
421
424
426
422
416
(1) %
1 %
Goodwill
1,482
1,482
1,482
1,482
1,481
— %
— %
Other intangible assets, net
595
633
671
712
754
(6) %
(21) %
Bank-owned life insurance
1,234
1,227
1,222
1,218
1,199
1 %
3 %
Other assets
1,924
1,595
1,583
1,644
1,712
21 %
12 %
Total assets
$ 65,135
$ 65,380
$ 66,027
$ 66,832
$ 67,496
— %
(3) %
Liabilities:
Deposits
Non-interest-bearing
$ 17,507
$ 17,218
$ 17,635
$ 17,419
$ 17,810
2 %
(2) %
Interest-bearing
35,233
34,838
35,854
36,792
37,961
1 %
(7) %
Total deposits
52,740
52,056
53,489
54,211
55,771
1 %
(5) %
Securities sold under agreements to repurchase
165
189
162
207
167
(13) %
(1) %
Borrowings
3,300
4,250
3,400
3,200
2,300
(22) %
43 %
Junior subordinated debentures, at fair value
353
339
333
338
331
4 %
7 %
Subordinated and junior subordinated debentures, at amortized cost
343
97
97
97
107
254 %
221 %
Other liabilities
1,155
897
882
939
1,030
29 %
12 %
Total liabilities
58,056
57,828
58,363
58,992
59,706
— %
(3) %
Shareholders' equity:
Common stock
7,511
7,702
7,896
8,099
8,189
(2) %
(8) %
Retained earnings (accumulated deficit)
276
160
59
(26)
(131)
73 %
nm
Accumulated other comprehensive loss
(708)
(310)
(291)
(233)
(268)
128 %
164 %
Total shareholders' equity
7,079
7,552
7,664
7,840
7,790
(6) %
(9) %
Total liabilities and shareholders' equity
$ 65,135
$ 65,380
$ 66,027
$ 66,832
$ 67,496
— %
(3) %
Common shares outstanding at period end (in thousands)
276,330
282,817
289,530
295,422
299,147
(2) %
(8) %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
Quarter Ended
% Change
Sep 30,
2026
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Seq.
Quarter
Year
over
Year
Per Common Share Data:
Dividends
$ 0.37
$ 0.37
$ 0.37
$ 0.37
$ 0.36
— %
3 %
Book value
$ 25.62
$ 26.70
$ 26.47
$ 26.54
$ 26.04
(4) %
(2) %
Tangible book value (1)
$ 18.10
$ 19.22
$ 19.03
$ 19.11
$ 18.57
(6) %
(3) %
Performance Ratios:
Efficiency ratio (2)
53.08 %
55.15 %
58.03 %
57.30 %
67.29 %
(2.07)
(14.21)
Non-interest expense to average assets (1)
2.25 %
2.29 %
2.41 %
2.44 %
2.74 %
(0.04)
(0.49)
Return on average assets ("ROAA")
1.34 %
1.27 %
1.18 %
1.27 %
0.67 %
0.07
0.67
Pre-provision net revenue ("PPNR") ROAA (1)
1.98 %
1.85 %
1.73 %
1.80 %
1.32 %
0.13
0.66
Return on average common equity
11.78 %
10.99 %
10.00 %
10.92 %
6.19 %
0.79
5.59
Return on average tangible common equity (1)
16.43 %
15.29 %
13.88 %
15.24 %
8.58 %
1.14
7.85
Performance Ratios - Operating: (1)
Operating efficiency ratio, as adjusted (1), (2)
51.34 %
52.92 %
53.68 %
51.39 %
52.32 %
(1.58)
(0.98)
Operating non-interest expense to average assets (1)
2.22 %
2.24 %
2.26 %
2.20 %
2.14 %
(0.02)
0.08
Operating ROAA (1)
1.40 %
1.33 %
1.28 %
1.44 %
1.42 %
0.07
(0.02)
Operating PPNR ROAA (1)
2.05 %
1.92 %
1.87 %
2.02 %
1.89 %
0.13
0.16
Operating return on average common equity (1)
12.27 %
11.46 %
10.89 %
12.34 %
13.15 %
0.81
(0.88)
Operating return on average tangible common equity (1)
17.11 %
15.95 %
15.11 %
17.22 %
18.24 %
1.16
(1.13)
Average Balance Sheet Yields, Rates, & Ratios:
Yield on loans and leases
5.90 %
5.77 %
5.78 %
5.92 %
5.96 %
0.13
(0.06)
Yield on earning assets (2)
5.55 %
5.40 %
5.44 %
5.55 %
5.62 %
0.15
(0.07)
Cost of interest bearing deposits
1.95 %
1.96 %
2.04 %
2.08 %
2.43 %
(0.01)
(0.48)
Cost of interest bearing liabilities
2.20 %
2.21 %
2.24 %
2.27 %
2.65 %
(0.01)
(0.45)
Cost of total deposits
1.29 %
1.32 %
1.39 %
1.40 %
1.66 %
(0.03)
(0.37)
Cost of total funding (3)
1.51 %
1.55 %
1.56 %
1.57 %
1.87 %
(0.04)
(0.36)
Net interest margin (2)
4.11 %
3.93 %
3.96 %
4.06 %
3.84 %
0.18
0.27
Average interest bearing cash / Average interest earning assets
2.23 %
2.33 %
2.59 %
3.12 %
3.41 %
(0.10)
(1.18)
Average loans and leases / Average interest earning assets
78.54 %
78.67 %
78.44 %
78.12 %
78.39 %
(0.13)
0.15
Average loans and leases / Average total deposits
89.38 %
90.19 %
88.58 %
87.34 %
88.39 %
(0.81)
0.99
Average non-interest bearing deposits / Average total deposits
33.47 %
32.90 %
32.26 %
32.45 %
31.41 %
0.57
2.06
Average total deposits / Average total funding (3)
92.42 %
91.88 %
93.58 %
94.52 %
93.47 %
0.54
(1.05)
Select Credit & Capital Ratios:
Non-performing loans and leases to total loans and leases
0.53 %
0.57 %
0.55 %
0.41 %
0.40 %
(0.04)
0.13
Non-performing assets to total assets
0.39 %
0.42 %
0.40 %
0.30 %
0.29 %
(0.03)
0.10
Allowance for credit losses to loans and leases
1.02 %
1.01 %
1.00 %
1.02 %
1.01 %
0.01
0.01
Total risk-based capital ratio (4)
13.8 %
13.5 %
13.5 %
13.6 %
13.4 %
0.30
0.40
Common equity tier 1 risk-based capital ratio (4)
11.5 %
11.7 %
11.7 %
11.8 %
11.6 %
(0.20)
(0.10)
(1)
See GAAP to Non-GAAP Reconciliation.
(2)
Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.
(3)
Total funding = total deposits + total borrowings.
(4)
Estimated holding company ratios.
Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
Nine Months Ended
% Change
Sep 30, 2026
Sep 30, 2025
Year over Year
Per Common Share Data:
Dividends
$ 1.11
$ 1.08
2.78 %
Performance Ratios:
Efficiency ratio (2)
55.40 %
63.66 %
(8.26)
Non-interest expense to average assets (1)
2.32 %
2.54 %
(0.22)
Return on average assets
1.26 %
0.84 %
0.42
PPNR ROAA (1)
1.85 %
1.44 %
0.41
Return on average common equity
10.92 %
8.06 %
2.86
Return on average tangible common equity (1)
15.19 %
11.22 %
3.97
Performance Ratios - Operating: (1)
Operating efficiency ratio, as adjusted (1), (2)
52.63 %
53.07 %
(0.44)
Operating non-interest expense to average assets (1)
2.24 %
2.12 %
0.12
Operating ROAA (1)
1.33 %
1.26 %
0.07
Operating PPNR ROAA (1)
1.95 %
1.81 %
0.14
Operating return on average common equity (1)
11.53 %
12.10 %
(0.57)
Operating return on average tangible common equity (1)
16.04 %
16.85 %
(0.81)
Average Balance Sheet Yields, Rates, & Ratios:
Yield on loans and leases
5.82 %
5.96 %
(0.14)
Yield on earning assets (2)
5.46 %
5.58 %
(0.12)
Cost of interest bearing deposits
1.99 %
2.49 %
(0.50)
Cost of interest bearing liabilities
2.22 %
2.74 %
(0.52)
Cost of total deposits
1.33 %
1.70 %
(0.37)
Cost of total funding (3)
1.54 %
1.94 %
(0.40)
Net interest margin (2)
4.00 %
3.73 %
0.27
Average interest bearing cash / Average interest earning assets
2.38 %
3.18 %
(0.80)
Average loans and leases / Average interest earning assets
78.55 %
78.64 %
(0.09)
Average loans and leases / Average total deposits
89.37 %
89.55 %
(0.18)
Average non-interest bearing deposits / Average total deposits
32.88 %
31.51 %
1.37
Average total deposits / Average total funding (3)
92.63 %
92.46 %
0.17
(1)
See GAAP to Non-GAAP Reconciliation.
(2)
Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.
(3)
Total funding = Total deposits + Total borrowings.
Columbia Banking System, Inc.
Loan & Lease Portfolio Balances and Mix
(Unaudited)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
% Change
($ in millions)
Amount
Amount
Amount
Amount
Amount
Seq.
Quarter
Year
over
Year
Loans and leases:
Commercial real estate: (1)
Non-owner occupied term
$ 7,338
$ 7,584
$ 8,113
$ 8,206
$ 8,444
(3) %
(13) %
Owner occupied term
7,219
7,405
7,258
7,314
7,361
(3) %
(2) %
Multifamily
9,937
10,122
10,173
10,281
10,377
(2) %
(4) %
Construction & development
1,642
1,529
1,670
1,707
2,071
7 %
(21) %
Residential development
361
369
373
362
367
(2) %
(2) %
Commercial:
Term
7,097
7,004
6,887
6,713
6,590
1 %
8 %
Lines of credit & other
4,055
3,794
3,804
3,643
3,582
7 %
13 %
Leases & equipment finance
1,618
1,617
1,619
1,599
1,614
— %
— %
Residential:
Mortgage
5,313
5,402
5,483
5,624
5,722
(2) %
(7) %
Home equity loans & lines
2,179
2,176
2,147
2,149
2,153
— %
1 %
Consumer & other
156
164
170
178
181
(5) %
(14) %
Total loans and leases, net of deferred fees and costs
$ 46,915
$ 47,166
$ 47,697
$ 47,776
$ 48,462
(1) %
(3) %
Loans and leases mix:
Commercial real estate: (1)
Non-owner occupied term
16 %
16 %
17 %
17 %
18 %
Owner occupied term
16 %
16 %
15 %
15 %
15 %
Multifamily
21 %
22 %
21 %
22 %
21 %
Construction & development
3 %
3 %
4 %
4 %
4 %
Residential development
1 %
1 %
1 %
1 %
1 %
Commercial:
Term
15 %
15 %
15 %
14 %
14 %
Lines of credit & other
9 %
8 %
8 %
8 %
7 %
Leases & equipment finance
3 %
3 %
3 %
3 %
3 %
Residential:
Mortgage
11 %
11 %
11 %
12 %
12 %
Home equity loans & lines
5 %
5 %
5 %
4 %
4 %
Consumer & other
— %
— %
— %
— %
1 %
Total
100 %
100 %
100 %
100 %
100 %
(1)
During the three months ended June 30, 2026, the Company aligned the presentation of certain loans with its established loan classification methodology. This resulted in approximately $174 million of loans being reported within different commercial real estate loan categories, primarily multifamily loans, with a corresponding decrease in non-owner occupied term loans.
Columbia Banking System, Inc.
Deposit Portfolio Balances and Mix
(Unaudited)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
% Change
($ in millions)
Amount
Amount
Amount
Amount
Amount
Seq.
Quarter
Year
over
Year
Deposits:
Demand, non-interest bearing
$ 17,507
$ 17,218
$ 17,635
$ 17,419
$ 17,810
2 %
(2) %
Demand, interest bearing
11,616
11,093
10,860
10,763
11,675
5 %
(1) %
Money market
16,935
16,415
16,843
17,013
16,816
3 %
1 %
Savings
2,375
2,392
2,437
2,442
2,504
(1) %
(5) %
Time
4,307
4,938
5,714
6,574
6,966
(13) %
(38) %
Total
$ 52,740
$ 52,056
$ 53,489
$ 54,211
$ 55,771
1 %
(5) %
Total core deposits (1)
$ 50,644
$ 49,488
$ 50,245
$ 50,174
$ 51,535
2 %
(2) %
Deposit mix:
Demand, non-interest bearing
33 %
33 %
33 %
32 %
32 %
Demand, interest bearing
22 %
21 %
20 %
20 %
21 %
Money market
32 %
32 %
31 %
31 %
30 %
Savings
5 %
5 %
5 %
5 %
5 %
Time
8 %
9 %
11 %
12 %
12 %
Total
100 %
100 %
100 %
100 %
100 %
(1)
Core deposits are defined as total deposits less time deposits greater than $250,000 and all brokered deposits.
Columbia Banking System, Inc.
Credit Quality – Non-performing Assets
(Unaudited)
Quarter Ended
% Change
($ in millions)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Non-performing assets: (1)
Loans and leases on non-accrual status:
Commercial real estate
$ 84
$ 96
$ 91
$ 50
$ 53
(13) %
58 %
Commercial
73
84
96
66
67
(13) %
9 %
Total loans and leases on non-accrual status
157
180
187
116
120
(13) %
31 %
Loans and leases past due 90+ days and accruing: (2)
Commercial real estate
1
4
3
2
—
(75) %
nm
Commercial
16
4
2
8
5
300 %
220 %
Residential (2)
76
80
69
72
71
(5) %
7 %
Total loans and leases past due 90+ days and accruing (2)
93
88
74
82
76
6 %
22 %
Total non-performing loans and leases (1), (2)
250
268
261
198
196
(7) %
28 %
Other real estate owned
5
5
3
2
3
0 %
67 %
Total non-performing assets (1), (2)
$ 255
$ 273
$ 264
$ 200
$ 199
(7) %
28 %
Loans and leases past due 31-89 days
$ 95
$ 125
$ 168
$ 94
$ 85
(24) %
12 %
Loans and leases past due 31-89 days to total loans and leases
0.20 %
0.27 %
0.35 %
0.20 %
0.18 %
(0.07)
0.02
Non-performing loans and leases to total loans and leases (1), (2)
0.53 %
0.57 %
0.55 %
0.41 %
0.40 %
(0.04)
0.13
Non-performing assets to total assets (1), (2)
0.39 %
0.42 %
0.40 %
0.30 %
0.29 %
(0.03)
0.10
Non-accrual loans and leases to total loans and leases(2)
0.33 %
0.38 %
0.39 %
0.24 %
0.25 %
(0.05)
0.08
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
(1)
Non-accrual and 90+ days past due loans include government guarantees of $71 million, $78 million, $88 million, $79 million, and $70 million at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
(2)
Excludes certain mortgage loans that carry a government guarantee, which Columbia has the unilateral right to repurchase but has not done so, totaling $4 million, $4 million, $4 million, $3 million, and $2 million at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025, and September 30, 2025, respectively.
Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
Quarter Ended
% Change
($ in millions)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Allowance for credit losses on loans and leases (ACLLL)
Balance, beginning of period
$ 458
$ 459
$ 466
$ 473
$ 421
0 %
9 %
Initial ACL recorded for PCD loans acquired during the period
—
—
—
—
5
nm
(100) %
Provision for credit losses on loans and leases
32
29
28
23
69
10 %
(54) %
Charge-offs
Commercial real estate
—
(1)
—
(8)
(3)
nm
nm
Commercial
(33)
(32)
(39)
(23)
(22)
3 %
50 %
Residential
—
—
—
(1)
—
nm
nm
Consumer & other
(3)
(2)
(1)
(1)
(2)
50 %
50 %
Total charge-offs
(36)
(35)
(40)
(33)
(27)
3 %
33 %
Recoveries
Commercial real estate
1
—
—
—
—
nm
nm
Commercial
7
4
4
3
4
75 %
75 %
Residential
—
—
—
—
—
nm
nm
Consumer & other
—
1
1
—
1
(100) %
(100) %
Total recoveries
8
5
5
3
5
60 %
60 %
Net charge-offs
Commercial real estate
1
(1)
—
(8)
(3)
nm
nm
Commercial
(26)
(28)
(35)
(20)
(18)
(7) %
44 %
Residential
—
—
—
(1)
—
nm
nm
Consumer & other
(3)
(1)
—
(1)
(1)
200 %
200 %
Total net charge-offs
(28)
(30)
(35)
(30)
(22)
(7) %
27 %
Balance, end of period
$ 462
$ 458
$ 459
$ 466
$ 473
1 %
(2) %
Reserve for unfunded commitments
Balance, beginning of period
$ 17
$ 19
$ 19
$ 19
$ 18
(11) %
(6) %
(Recapture) provision for credit losses on unfunded commitments
1
(2)
—
—
1
nm
0 %
Balance, end of period
18
17
19
19
19
6 %
(5) %
Total Allowance for credit losses (ACL)
$ 480
$ 475
$ 478
$ 485
$ 492
1 %
(2) %
Net charge-offs to average loans and leases (annualized)
0.24 %
0.25 %
0.30 %
0.25 %
0.22 %
(0.01)
0.02
Recoveries to gross charge-offs
22.22 %
14.29 %
12.50 %
9.09 %
18.52 %
7.93
3.70
ACLLL to loans and leases
0.98 %
0.97 %
0.96 %
0.98 %
0.98 %
0.01
—
ACL to loans and leases
1.02 %
1.01 %
1.00 %
1.02 %
1.01 %
0.01
0.01
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
Nine Months Ended
% Change
($ in millions)
Sep 30, 2026
Sep 30, 2025
Year over Year
Allowance for credit losses on loans and leases (ACLLL)
Balance, beginning of period
$ 466
$ 425
10 %
Initial ACL recorded for PCD loans acquired during the period
—
5
(100) %
Provision for credit losses on loans and leases
89
124
(28) %
Charge-offs
Commercial real estate
(1)
(3)
(67) %
Commercial
(104)
(88)
18 %
Residential
—
(1)
nm
Consumer & other
(6)
(4)
50 %
Total charge-offs
(111)
(96)
16 %
Recoveries
Commercial real estate
1
—
nm
Commercial
15
13
15 %
Residential
—
—
nm
Consumer & other
2
2
0 %
Total recoveries
18
15
20 %
Net charge-offs
Commercial real estate
—
(3)
nm
Commercial
(89)
(75)
19 %
Residential
—
(1)
nm
Consumer & other
(4)
(2)
100 %
Total net charge-offs
(93)
(81)
15 %
Balance, end of period
$ 462
$ 473
(2) %
Reserve for unfunded commitments
Balance, beginning of period
$ 19
$ 16
19 %
(Recapture) provision for credit losses on unfunded commitments
(1)
3
(133) %
Balance, end of period
18
19
(5) %
Total Allowance for credit losses (ACL)
$ 480
$ 492
(2) %
Net charge-offs to average loans and leases (annualized)
0.26 %
0.28 %
(0.02)
Recoveries to gross charge-offs
16.22 %
15.63 %
0.59
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
Quarter Ended
September 30, 2026
June 30, 2026
September 30, 2025
($ in millions)
Average Balance
Interest Income or Expense
Average Yields or Rates
Average Balance
Interest Income or Expense
Average Yields or Rates
Average Balance
Interest Income or Expense
Average Yields or Rates
INTEREST-EARNING ASSETS:
Loans held for sale
$ 57
$ 1
6.39 %
$ 66
$ —
6.86 %
$ 80
$ 1
7.14 %
Loans and leases (1)
46,951
698
5.90 %
47,419
683
5.77 %
41,164
618
5.96 %
Taxable securities
10,251
109
4.27 %
10,173
102
3.97 %
8,523
93
4.35 %
Non-taxable securities (2)
1,188
13
4.75 %
1,219
15
4.63 %
950
10
4.26 %
Temporary investments and interest-bearing cash
1,333
13
3.74 %
1,402
13
3.71 %
1,793
20
4.40 %
Total interest-earning assets (1), (2)
59,780
$ 834
5.55 %
60,279
$ 813
5.40 %
52,510
$ 742
5.62 %
Goodwill and other intangible assets
2,096
2,136
1,719
Other assets
3,241
3,217
2,594
Total assets
$ 65,117
$ 65,632
$ 56,823
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits
$ 11,373
$ 48
1.70 %
$ 11,002
$ 45
1.65 %
$ 9,630
$ 53
2.17 %
Money market deposits
16,578
89
2.11 %
16,658
87
2.10 %
13,476
83
2.46 %
Savings deposits
2,392
1
0.16 %
2,413
1
0.14 %
2,358
1
0.16 %
Time deposits
4,605
33
2.89 %
5,205
40
3.03 %
6,481
58
3.57 %
Total interest-bearing deposits
34,948
171
1.95 %
35,278
173
1.96 %
31,945
195
2.43 %
Repurchase agreements and federal funds purchased
173
—
1.75 %
163
1
1.65 %
176
1
2.15 %
Borrowings
3,664
38
4.02 %
4,050
39
3.90 %
2,648
30
4.54 %
Subordinated and junior subordinated debentures
471
8
6.99 %
431
8
7.07 %
430
9
7.99 %
Total interest-bearing liabilities
39,256
$ 217
2.20 %
39,922
$ 221
2.21 %
35,199
$ 235
2.65 %
Non-interest-bearing deposits
17,584
17,301
14,627
Other liabilities
870
815
840
Total liabilities
57,710
58,038
50,666
Common equity
7,407
7,594
6,157
Total liabilities and shareholders' equity
$ 65,117
$ 65,632
$ 56,823
NET INTEREST INCOME (2)
$ 617
$ 592
$ 507
NET INTEREST SPREAD (2)
3.35 %
3.19 %
2.97 %
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)
4.11 %
3.93 %
3.84 %
(1)
Non-accrual loans and leases are included in the average balance.
(2)
Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $2 million for the three months ended September 30, 2026, as compared to $3 million for the three months ended June 30, 2026 and $2 million for the three months ended September 30, 2025.
Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
Nine Months Ended
September 30, 2026
September 30, 2025
($ in millions)
Average Balance
Interest Income or Expense
Average Yields or Rates
Average Balance
Interest Income or Expense
Average Yields or Rates
INTEREST-EARNING ASSETS:
Loans held for sale
$ 104
$ 4
5.78 %
$ 69
$ 3
6.74 %
Loans and leases (1)
47,358
2,062
5.82 %
38,843
1,733
5.96 %
Taxable securities
10,174
317
4.15 %
8,053
248
4.11 %
Non-taxable securities (2)
1,220
42
4.63 %
856
26
4.04 %
Temporary investments and interest-bearing cash
1,437
40
3.69 %
1,570
52
4.44 %
Total interest-earning assets (1), (2)
60,293
$ 2,465
5.46 %
49,391
$ 2,062
5.58 %
Goodwill and other intangible assets
2,136
1,565
Other assets
3,222
2,340
Total assets
$ 65,651
$ 53,296
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits
$ 11,054
$ 136
1.65 %
$ 8,832
$ 147
2.23 %
Money market deposits
16,694
264
2.11 %
12,295
225
2.44 %
Savings deposits
2,416
3
0.14 %
2,332
2
0.13 %
Time deposits
5,402
125
3.10 %
6,249
178
3.81 %
Total interest-bearing deposits
35,566
528
1.99 %
29,708
552
2.49 %
Repurchase agreements and federal funds purchased
174
2
1.76 %
192
3
2.09 %
Borrowings
3,597
107
3.96 %
2,913
101
4.63 %
Subordinated and junior subordinated debentures
446
23
7.03 %
432
26
7.99 %
Total interest-bearing liabilities
39,783
$ 660
2.22 %
33,245
$ 682
2.74 %
Non-interest-bearing deposits
17,422
13,668
Other liabilities
852
826
Total liabilities
58,057
47,739
Common equity
7,594
5,557
Total liabilities and shareholders' equity
$ 65,651
$ 53,296
NET INTEREST INCOME (2)
$ 1,805
$ 1,380
NET INTEREST SPREAD (2)
3.24 %
2.84 %
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)
4.00 %
3.73 %
(1)
Non-accrual loans and leases are included in the average balance.
(2)
Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $7 million for the nine months ended September 30, 2026, as compared to $4 million for the same period in 2025.
Columbia Banking System, Inc.
Residential Mortgage Banking Activity
(Unaudited)
Quarter Ended
%
($ in millions)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Residential mortgage banking revenue:
Origination and sale
$ 5
$ 6
$ 5
$ 5
$ 5
(17) %
— %
Servicing
6
5
6
6
5
20 %
20 %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(3)
(3)
(3)
(3)
(3)
— %
— %
Changes due to valuation inputs or assumptions
13
1
6
(1)
—
nm
nm
MSR hedge (loss) gain
(12)
(2)
(2)
—
—
500 %
nm
Total
$ 9
$ 7
$ 12
$ 7
$ 7
29 %
29 %
Closed loan volume for sale
$ 172
$ 195
$ 171
$ 176
$ 166
(12) %
4 %
Gain on sale margin
2.91 %
3.08 %
2.92 %
2.84 %
3.01 %
-0.17
-0.10
Residential mortgage servicing rights:
Balance, beginning of period
$ 105
$ 105
$ 99
$ 101
$ 103
— %
2 %
Additions for new MSR capitalized
3
2
3
2
1
50 %
200 %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(3)
(3)
(3)
(3)
(3)
— %
— %
Changes due to valuation inputs or assumptions
13
1
6
(1)
—
nm
nm
Balance, end of period
$ 118
$ 105
$ 105
$ 99
$ 101
12 %
17 %
Residential mortgage loans serviced for others
$ 7,686
$ 7,734
$ 7,812
$ 7,755
$ 7,797
(1) %
(1) %
MSR as % of serviced portfolio
1.54 %
1.36 %
1.34 %
1.28 %
1.30 %
0.18
0.24
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Residential Mortgage Banking Activity
(Unaudited)
Nine Months Ended
% Change
($ in millions)
Sep 30, 2026
Sep 30, 2025
Year over Year
Residential mortgage banking revenue:
Origination and sale
$ 16
$ 14
14 %
Servicing
17
17
0 %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(9)
(9)
0 %
Changes due to valuation inputs or assumptions
20
(3)
nm
MSR hedge (loss) gain
(16)
5
(420) %
Total
$ 28
$ 24
17 %
Closed loan volume for sale
$ 538
$ 466
15 %
Gain on sale margin
2.97 %
3.00 %
(0.03)
Residential mortgage servicing rights:
Balance, beginning of period
$ 99
$ 108
(8) %
Additions for new MSR capitalized
8
5
60 %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(9)
(9)
0 %
Changes due to valuation inputs or assumptions
20
(3)
nm
Balance, end of period
$ 118
$ 101
17 %
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Non-GAAP Financial Measures
In addition to results presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation
Tangible Capital, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions, except per-share data)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Total shareholders' equity
a
$ 7,079
$ 7,552
$ 7,664
$ 7,840
$ 7,790
(6) %
(9) %
Less: Goodwill
1,482
1,482
1,482
1,482
1,481
— %
— %
Less: Other intangible assets, net
595
633
671
712
754
(6) %
(21) %
Tangible common shareholders' equity
b
$ 5,002
$ 5,437
$ 5,511
$ 5,646
$ 5,555
(8) %
(10) %
Total assets
c
$ 65,135
$ 65,380
$ 66,027
$ 66,832
$ 67,496
— %
(3) %
Less: Goodwill
1,482
1,482
1,482
1,482
1,481
— %
— %
Less: Other intangible assets, net
595
633
671
712
754
(6) %
(21) %
Tangible assets
d
$ 63,058
$ 63,265
$ 63,874
$ 64,638
$ 65,261
— %
(3) %
Common shares outstanding at period end (in thousands)
e
276,330
282,817
289,530
295,422
299,147
(2) %
(8) %
Total shareholders' equity to total assets ratio
a / c
10.87 %
11.55 %
11.61 %
11.73 %
11.54 %
(0.68)
(0.67)
Tangible common equity to tangible assets ratio
b / d
7.93 %
8.59 %
8.63 %
8.73 %
8.51 %
(0.66)
(0.58)
Book value per common share
a / e
$ 25.62
$ 26.70
$ 26.47
$ 26.54
$ 26.04
(4) %
(2) %
Tangible book value per common share
b / e
$ 18.10
$ 19.22
$ 19.03
$ 19.11
$ 18.57
(6) %
(3) %
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Income Statements, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Non-Interest Income Adjustments
(Loss) gain on investment securities, net
$ (8)
$ (1)
$ —
$ 2
$ 2
nm
(500) %
Gain (loss) on swap derivatives
3
—
—
1
(1)
nm
nm
(Loss) gain on loans held for investment, at fair value
(3)
(1)
(2)
—
4
200 %
(175) %
Change in fair value of MSR due to valuation inputs or assumptions
13
1
6
(1)
—
nm
nm
MSR hedge loss
(12)
(2)
(2)
—
—
500 %
nm
Total non-interest income adjustments
a
$ (7)
$ (3)
$ 2
$ 2
$ 5
133 %
(240) %
Non-Interest Expense Adjustments
Merger and restructuring expense
$ 2
$ 9
$ 24
$ 39
$ 87
(78) %
(98) %
Exit and disposal costs
3
—
1
1
—
nm
nm
FDIC special assessment
—
—
—
(5)
(1)
nm
nm
Legal settlement and other non-operating expense
—
—
—
4
—
nm
nm
Total non-interest expense adjustments
b
$ 5
$ 9
$ 25
$ 39
$ 86
(44) %
(94) %
Net interest income
c
$ 615
$ 589
$ 594
$ 627
$ 505
4 %
22 %
Non-interest income (GAAP)
d
$ 80
$ 88
$ 83
$ 90
$ 77
(9) %
4 %
Less: Non-interest income adjustments
a
7
3
(2)
(2)
(5)
133 %
nm
Operating non-interest income (non-GAAP)
e
$ 87
$ 91
$ 81
$ 88
$ 72
(4) %
21 %
Revenue (GAAP)
f=c+d
$ 695
$ 677
$ 677
$ 717
$ 582
3 %
19 %
Operating revenue (non-GAAP)
g=c+e
$ 702
$ 680
$ 675
$ 715
$ 577
3 %
22 %
Non-interest expense (GAAP)
h
$ 370
$ 375
$ 394
$ 412
$ 393
(1) %
(6) %
Less: Non-interest expense adjustments
b
(5)
(9)
(25)
(39)
(86)
(44) %
(94) %
Operating non-interest expense (non-GAAP)
i
$ 365
$ 366
$ 369
$ 373
$ 307
— %
19 %
Net income (GAAP)
j
$ 220
$ 208
$ 192
$ 215
$ 96
6 %
129 %
Provision for income taxes
72
67
63
67
23
7 %
213 %
Income before provision for income taxes
292
275
255
282
119
6 %
145 %
Provision for credit losses
33
27
28
23
70
22 %
(53) %
Pre-provision net revenue (PPNR) (non-GAAP)
k
325
302
283
305
189
8 %
72 %
Less: Non-interest income adjustments
a
7
3
(2)
(2)
(5)
133 %
nm
Add: Non-interest expense adjustments
b
5
9
25
39
86
(44) %
(94) %
Operating PPNR (non-GAAP)
l
$ 337
$ 314
$ 306
$ 342
$ 270
7 %
25 %
Net income (GAAP)
j
$ 220
$ 208
$ 192
$ 215
$ 96
6 %
129 %
Acquisition-related provision expense
—
—
—
—
70
nm
(100) %
Less: Non-interest income adjustments
a
7
3
(2)
(2)
(5)
133 %
nm
Add: Non-interest expense adjustments
b
5
9
25
39
86
(44) %
(94) %
Tax effect of adjustments
(3)
(3)
(6)
(9)
(43)
— %
(93) %
Operating net income (non-GAAP)
m
$ 229
$ 217
$ 209
$ 243
$ 204
6 %
12 %
nm
= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Average Balances, Earnings Per Share, and Performance Metrics, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions, shares in thousands)
Sep 30, 2026
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Seq. Quarter
Year over Year
Average assets
n
$ 65,117
$ 65,632
$ 66,215
$ 67,114
$ 56,823
(1) %
15 %
Less: Average goodwill and other intangible assets, net
2,096
2,136
2,175
2,217
1,719
(2) %
22 %
Average tangible assets
o
$ 63,021
$ 63,496
$ 64,040
$ 64,897
$ 55,104
(1) %
14 %
Average common shareholders' equity
p
$ 7,407
$ 7,594
$ 7,786
$ 7,814
$ 6,157
(2) %
20 %
Less: Average goodwill and other intangible assets, net
2,096
2,136
2,175
2,217
1,719
(2) %
22 %
Average tangible common equity
q
$ 5,311
$ 5,458
$ 5,611
$ 5,597
$ 4,438
(3) %
20 %
Weighted average basic shares outstanding (in thousands)
r
279,221
285,558
290,933
295,376
237,838
(2) %
17 %
Weighted average diluted shares outstanding (in thousands)
s
280,338
286,472
292,160
296,760
238,925
(2) %
17 %
Select Per-Share & Performance Metrics
Earnings per share - basic
j / r
$ 0.78
$ 0.73
$ 0.66
$ 0.72
$ 0.40
7 %
95 %
Earnings per share - diluted
j / s
$ 0.78
$ 0.73
$ 0.66
$ 0.72
$ 0.40
7 %
95 %
Efficiency ratio (1)
h / f
53.08 %
55.15 %
58.03 %
57.30 %
67.29 %
(2.07)
(14.21)
Non-interest expense to average assets
h / n
2.25 %
2.29 %
2.41 %
2.44 %
2.74 %
(0.04)
(0.49)
Return on average assets
j / n
1.34 %
1.27 %
1.18 %
1.27 %
0.67 %
0.07
0.67
Return on average tangible assets
j / o
1.38 %
1.31 %
1.22 %
1.31 %
0.69 %
0.07
0.69
PPNR return on average assets
k / n
1.98 %
1.85 %
1.73 %
1.80 %
1.32 %
0.13
0.66
Return on average common equity
j / p
11.78 %
10.99 %
10.00 %
10.92 %
6.19 %
0.79
5.59
Return on average tangible common equity
j / q
16.43 %
15.29 %
13.88 %
15.24 %
8.58 %
1.14
7.85
Operating Per-Share & Performance Metrics
Operating earnings per share - basic
m / r
$ 0.82
$ 0.76
$ 0.72
$ 0.82
$ 0.86
8 %
(5) %
Operating earnings per share - diluted
m / s
$ 0.82
$ 0.76
$ 0.72
$ 0.82
$ 0.85
8 %
(4) %
Operating efficiency ratio, as adjusted (1)
u / y
51.34 %
52.92 %
53.68 %
51.39 %
52.32 %
(1.58)
(0.98)
Operating non-interest expense to average assets
i / n
2.22 %
2.24 %
2.26 %
2.20 %
2.14 %
(0.02)
0.08
Operating return on average assets
m / n
1.40 %
1.33 %
1.28 %
1.44 %
1.42 %
0.07
(0.02)
Operating return on average tangible assets
m / o
1.44 %
1.37 %
1.32 %
1.49 %
1.47 %
0.07
(0.03)
Operating PPNR return on average assets
l / n
2.05 %
1.92 %
1.87 %
2.02 %
1.89 %
0.13
0.16
Operating return on average common equity
m / p
12.27 %
11.46 %
10.89 %
12.34 %
13.15 %
0.81
(0.88)
Operating return on average tangible common equity
m / q
17.11 %
15.95 %
15.11 %
17.22 %
18.24 %
1.16
(1.13)
(1)
Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Wall Street analysts forecast that Columbia Banking (COLB - Free Report) will report quarterly earnings of $0.77 per share in its upcoming release, pointing to a year-over-year decline of 9.4%. It is anticipated that revenues will amount to $687.95 million, exhibiting an increase of 18.2% compared to the year-ago quarter.
Over the last 30 days, there has been an upward revision of 0.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
Given this perspective, it's time to examine the average forecasts of specific Columbia Banking metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Efficiency Ratio' will reach 52.4%. The estimate compares to the year-ago value of 67.3%.
Based on the collective assessment of analysts, 'Net Interest Margin' should arrive at 4.0%. Compared to the present estimate, the company reported 3.8% in the same quarter last year.
Analysts forecast 'Average Balance - Total interest-earning assets' to reach $59.80 billion. Compared to the present estimate, the company reported $52.51 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Total non-performing assets' will likely reach $269.67 million. Compared to the current estimate, the company reported $199.00 million in the same quarter of the previous year.
The average prediction of analysts places 'Total non-performing loans and leases' at $263.86 million. The estimate compares to the year-ago value of $196.00 million.
It is projected by analysts that the 'Total risk-based capital ratio' will reach 13.7%. The estimate compares to the year-ago value of 13.4%.
Analysts' assessment points toward 'Common equity tier 1 risk-based capital ratio' reaching 11.9%. Compared to the present estimate, the company reported 11.6% in the same quarter last year.
The consensus estimate for 'Net Interest Income' stands at $601.40 million. The estimate is in contrast to the year-ago figure of $505.00 million.
According to the collective judgment of analysts, 'Total noninterest income' should come in at $86.12 million. The estimate compares to the year-ago value of $77.00 million.
Analysts expect 'Net interest income (FTE)' to come in at $602.85 million. The estimate is in contrast to the year-ago figure of $507.00 million.
The collective assessment of analysts points to an estimated 'Service charges on deposits' of $22.80 million. The estimate is in contrast to the year-ago figure of $21.00 million.
Analysts predict that the 'Card-based fees' will reach $16.48 million. Compared to the current estimate, the company reported $15.00 million in the same quarter of the previous year.
View all Key Company Metrics for Columbia Banking here>>>
Over the past month, Columbia Banking shares have recorded returns of -5.3% versus the Zacks S&P 500 composite's +0.7% change. Based on its Zacks Rank #3 (Hold), COLB will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Columbia Banking System Named the Top Performing Large U.S. Bank in Bank Director's 2026 RankingBanking StudyPR Newswire
TACOMA, Wash., Oct. 15, 2026
Ranks #1 among banks with at least $50B in assets
, /PRNewswire/ -- Columbia Banking System, Inc. (Nasdaq: COLB), the parent company of Columbia Bank, has been recognized as the No. 1 Top Performing Bank in the $50 billion and above category in Bank Director's 2026 RankingBanking study.
Bank Director's RankingBanking study evaluates the 300 largest publicly traded banks in the country on four measures:
Return on average tangible common equityReturn on average total assetsTangible common equity to tangible assetsNonperforming assets to loans and other real estate ownedThe 2026 ranking was compiled by Piper Sandler & Co. from S&P Global Market Intelligence using 2025 results.
Columbia's top recognition follows two consecutive years finishing No. 2 in the RankingBanking study. In the latest study, Columbia also ranks No. 1 among large banks for asset quality and placed among the top three banks for profitability as measured by return on average assets (ROAA).
"Being recognized as the top performing large bank reflects the disciplined execution, financial strength and customer focus that define our organization," said Clint Stein, CEO of Columbia Banking System and Columbia Bank. "This recognition, along with our No. 1 ranking for asset quality, underscores the dedication of our team and the trust our customers place in us. While we're proud of this achievement, we're equally focused on continuing to invest in our capabilities and delivering long-term value for our shareholders, customers and communities across the western U.S."
The Bank Director recognition adds to a growing list of honors Columbia has received this year, including:
Forbes: World's Top Performing Banks, America's Best BanksTIME: America's Best CompaniesCrisil Coalition Greenwich: Best Bank Awards for Middle Market BankingGlobal Finance: Best Bank for Small and Midsize Enterprises, Best Trade Finance Partner (West)About Columbia Banking System
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
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The market expects Columbia Banking (COLB - Free Report) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended September 2026. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on October 22, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis bank holding company is expected to post quarterly earnings of $0.77 per share in its upcoming report, which represents a year-over-year change of -9.4%.
Revenues are expected to be $687.28 million, up 18.1% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.95% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. Our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction) -- has this insight at its core.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Columbia Banking?For Columbia Banking, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.42%.
On the other hand, the stock currently carries a Zacks Rank of #3.
So, this combination indicates that Columbia Banking will most likely beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Columbia Banking would post earnings of $0.73 per share when it actually produced earnings of $0.76, delivering a surprise of +4.11%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Columbia Banking appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
Expected Results of an Industry PlayerAmong the stocks in the Zacks Banks - West industry, Plumas Bancorp (PLBC - Free Report) , is soon expected to post earnings of $1.46 per share for the quarter ended September 2026. This estimate indicates a year-over-year change of +8.2%. This quarter's revenue is expected to be $29.03 million, up 5.9% from the year-ago quarter.
The consensus EPS estimate for Plumas Bancorp has been revised 2.1% higher over the last 30 days to the current level. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -1.15%.
When combined with a Zacks Rank of #2 (Buy), this Earnings ESP makes it difficult to conclusively predict that Plumas Bancorp will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
, /PRNewswire/ -- Columbia Banking System, Inc. (Nasdaq: COLB), the parent company of Columbia Bank, has been recognized as the No. 1 Top Performing Bank in the $50 billion and above category in Bank Director's 2026 RankingBanking study.
Bank Director's RankingBanking study evaluates the 300 largest publicly traded banks in the country on four measures:
Return on average tangible common equity Return on average total assets Tangible common equity to tangible assets Nonperforming assets to loans and other real estate owned The 2026 ranking was compiled by Piper Sandler & Co. from S&P Global Market Intelligence using 2025 results.
Columbia's top recognition follows two consecutive years finishing No. 2 in the RankingBanking study. In the latest study, Columbia also ranks No. 1 among large banks for asset quality and placed among the top three banks for profitability as measured by return on average assets (ROAA).
"Being recognized as the top performing large bank reflects the disciplined execution, financial strength and customer focus that define our organization," said Clint Stein, CEO of Columbia Banking System and Columbia Bank. "This recognition, along with our No. 1 ranking for asset quality, underscores the dedication of our team and the trust our customers place in us. While we're proud of this achievement, we're equally focused on continuing to invest in our capabilities and delivering long-term value for our shareholders, customers and communities across the western U.S."
The Bank Director recognition adds to a growing list of honors Columbia has received this year, including:
Forbes: World's Top Performing Banks, America's Best Banks TIME: America's Best Companies Crisil Coalition Greenwich: Best Bank Awards for Middle Market Banking Global Finance: Best Bank for Small and Midsize Enterprises, Best Trade Finance Partner (West) About Columbia Banking System
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Columbia Banking (COLB - Free Report) , which belongs to the Zacks Banks - West industry.
When looking at the last two reports, this bank holding company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 5.00%, on average, in the last two quarters.
For the most recent quarter, Columbia Banking was expected to post earnings of $0.73 per share, but it reported $0.76 per share instead, representing a surprise of 4.11%. For the previous quarter, the consensus estimate was $0.68 per share, while it actually produced $0.72 per share, a surprise of 5.88%.
Price and EPS Surprise
With this earnings history in mind, recent estimates have been moving higher for Columbia Banking. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the company is positive, which is a great sign of an earnings beat, especially when you combine this metric with its nice Zacks Rank.
Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven.
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Columbia Banking currently has an Earnings ESP of +0.42%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on October 22, 2026.
With the Earnings ESP metric, it's important to note that a negative value reduces its predictive power; however, a negative Earnings ESP does not indicate an earnings miss.
Many companies end up beating the consensus EPS estimate, but that may not be the sole basis for their stocks moving higher. On the other hand, some stocks may hold their ground even if they end up missing the consensus estimate.
Because of this, it's really important to check a company's Earnings ESP ahead of its quarterly release to increase the odds of success. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
, /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB), parent company of Columbia Bank, today announced it will release third quarter 2026 financial results on Thursday, October 22, 2026, after market close. The Company will host a conference call for investors and analysts at 2:00 p.m. PT (5:00 p.m. ET) that same day. During the call, management will discuss Columbia's third quarter 2026 financial results and provide an update on recent activities. There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs or register for the listen-only audiocast. It is recommended you join 10 minutes prior to the start time.
Join the audiocast: https://edge.media-server.com/mmc/p/ock9xnut/
Register for the call:
https://register-conf.media-server.com/register/BI681367d8eaa3452084f342f40e7ffe6c
Access the replay through the Company's investor relations page under the "News & Market Data-Event Calendar" section: https://www.columbiabankingsystem.com
About Columbia
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate," "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its Annual Report on Form 10-K for the Fiscal Year ended December 31, 2025 and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2026 and June 30, 2026, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
China Construction Bank (OTCMKTS:CICHY – Get Free Report) and Columbia Banking System (NASDAQ:COLB – Get Free Report) are both finance companies, but which is the better business? We will compare the two companies based on the strength of their dividends, institutional ownership, profitability, earnings, analyst recommendations, valuation and risk.
Institutional and Insider Ownership 92.5% of Columbia Banking System shares are held by institutional investors. 0.6% of Columbia Banking System shares are held by insiders. Strong institutional ownership is an indication that large money managers, hedge funds and endowments believe a stock is poised for long-term growth.
Valuation & Earnings This table compares China Construction Bank and Columbia Banking System”s gross revenue, earnings per share and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio China Construction Bank $181.98 billion 1.76 $47.15 billion $3.72 6.59 Columbia Banking System $3.21 billion 2.54 $550.00 million $2.51 11.49 China Construction Bank has higher revenue and earnings than Columbia Banking System. China Construction Bank is trading at a lower price-to-earnings ratio than Columbia Banking System, indicating that it is currently the more affordable of the two stocks.
Profitability This table compares China Construction Bank and Columbia Banking System’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets China Construction Bank 27.65% 9.82% 0.78% Columbia Banking System 19.96% 11.33% 1.31% Risk and Volatility China Construction Bank has a beta of 0.11, suggesting that its stock price is 89% less volatile than the S&P 500. Comparatively, Columbia Banking System has a beta of 0.62, suggesting that its stock price is 38% less volatile than the S&P 500.
Dividends China Construction Bank pays an annual dividend of $0.93 per share and has a dividend yield of 3.8%. Columbia Banking System pays an annual dividend of $1.48 per share and has a dividend yield of 5.1%. China Construction Bank pays out 25.0% of its earnings in the form of a dividend. Columbia Banking System pays out 59.0% of its earnings in the form of a dividend. Both companies have healthy payout ratios and should be able to cover their dividend payments with earnings for the next several years. Columbia Banking System has raised its dividend for 4 consecutive years. Columbia Banking System is clearly the better dividend stock, given its higher yield and longer track record of dividend growth.
Analyst Ratings This is a breakdown of current ratings and recommmendations for China Construction Bank and Columbia Banking System, as provided by MarketBeat.com.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score China Construction Bank 0 1 0 0 2.00 Columbia Banking System 0 8 5 0 2.38 Columbia Banking System has a consensus price target of $33.75, suggesting a potential upside of 16.98%. Given Columbia Banking System’s stronger consensus rating and higher probable upside, analysts clearly believe Columbia Banking System is more favorable than China Construction Bank.
Summary Columbia Banking System beats China Construction Bank on 12 of the 17 factors compared between the two stocks.
(Get Free Report)
China Construction Bank Corporation provides various banking and related financial services to individuals and corporate customers in the People's Republic of China and internationally. It operates through Corporate Finance Business, Personal Finance Business, Treasury and Asset Management Business, and Others segments. The company accepts various deposits, such as foreign currency, all in one accounts, RMB, corporate term and notification, and corporate demand deposits, as well corporate deposits by agreement. Its loan products include personal business, car, and housing loans; and SME, traditional credit, commercial draft, buyer credit, and RMB credit line loans. The company also offers credit cards; physical gold for personal investment and personal gold accounts; foreign exchange services; certificate treasury and savings bonds, securities deposit accounts, and securities services, as well as bank-securities transfer and book-entry treasury bond over the counter transaction services; and wealth management products. In addition, it provides collection, salaries payment, third-party collection and payment, insurance agency, and remittance services; international settlement and financing, and FI services; securities and fund settlement services; guarantee-based, consulting and advising, and factoring services; fund custody services; and e-banking services. Further, the company offers institutional services comprising services for government agencies, social security, banks cooperation, bank-securities cooperation, bank-insurance cooperation, and services for non-banking financial institutions. China Construction Bank Corporation was founded in 1954 and is headquartered in Beijing, the People's Republic of China.
About Columbia Banking System (Get Free Report)
Columbia Banking System, Inc. operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions. It also provides commercial lending products, such as commercial lines of credit and term loans, accounts receivable and inventory financing, international trade finance, commercial property loans, multifamily loans, equipment loans, commercial equipment leases, real estate construction loans and permanent financing, and small business administration program financing, as well as capital markets. In addition, the company offers wealth management comprising financial planning, investment, trust, and insurance; treasury management, which includes digital and mobile banking solutions, ACH, wires, positive pay, remote deposit capture, integrated payments, integrated receivables, lockbox, cash vault, real-time payments, commercial card, and foreign exchange and international banking related products, as well as merchant services; and brokerage services, residential real estate loans and consumer loans. It serves its products to corporate, institutional, small business, and individual customers. The company was founded in 1953 and is headquartered in Tacoma, Washington.
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NEW YORK--(BUSINESS WIRE)-- #creditratingagency--KBRA assigns a rating of A- with a Stable Outlook to the $250 million subordinated notes issued by Columbia Bank ("the bank") with a final maturity date of September 18, 2036. The notes are callable at the option of the bank, commencing on September 18, 2031. Net proceeds will be used for general corporate purposes and to retire trust preferred securities outstanding at its holding company, Columbia Banking System, Inc. (NASDAQ: COLB). Key Credit Considerations The ra.
, /PRNewswire/ -- Columbia Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), announced today it has promoted Chris Orr to SVP, Director of Trust Sales & Strategic Partnerships for Columbia Private Trust, the bank's specialty custody business. Based in San Francisco, Orr will provide leadership across the full spectrum of growth and relationship-management initiatives serving Columbia Private Trust's institutional and retail client segments.
Chris Orr SVP, Director of Trust Sales & Strategic Partnerships for Columbia Private Trust
Columbia Private Trust Columbia Private Trust provides custodial services to individual investors, institutional clients and the customers of institutional clients. Originally founded as PENSCO Trust Company in 1989, the business oversees more than $20 billion in assets under custody and has long been recognized as a leading non-discretionary custodian of traditional and alternative assets held through self-directed IRAs, investment funds and employee stock ownership plans. The business became part of Columbia Bank in 2025.
"Over the past 17 years, Chris has built trusted relationships with our clients while serving in nearly every area of our private trust business," said Tamara Wendoll, EVP, Senior Director at Columbia Private Trust. "As one of the team members who helped carry the business forward from its PENSCO roots, Chris understands both the specialized custody marketplace and the client-focused culture that continues to define Columbia Private Trust today. His industry experience and longstanding connections throughout the Bay Area position him well to help drive our next phase of growth."
According to Chris Merrywell, President of Columbia Bank, Columbia Private Trust serves as a highly complementary and important extension of Columbia Bank's broader wealth and relationship-based banking strategy.
"Chris Orr has been instrumental to the growth and success of Columbia Private Trust and brings deep knowledge of our business, market and clients to his new role," said Merrywell. "His appointment reflects the bank's continued commitment to invest in Columbia Private Trust as an important part of our strategic and diversified long-term growth plan. As demand for specialized custody solutions grows, Columbia Private Trust will continue to provide clients with industry-leading expertise backed by the strength and resources of a premier regional bank."
Orr has held multiple roles within the Columbia Private Trust team, most recently serving as 1st VP, Institutional Sales. He also served as Director of Relationship Management & Sales Servicing, as well as Product Manager. He has earned the Certified IRA Services Professional and Self-Directed IRA Professional certifications and previously held Series 7 and 66 licenses.
About Columbia Bank
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.
Columbia Banking System, Inc. (COLB) Barclays 24th Annual Global Financial Services Conference September 15, 2026 9:45 AM EDT
Company Participants
Clint Stein - President, CEO & Chairman of the Board
Ivan Seda - CFO & Executive VP
Drew Anderson - Executive VP & Chief Administrative Officer
Conference Call Participants
Jared David Shaw - Barclays Bank PLC, Research Division
Presentation
Jared David Shaw
Barclays Bank PLC, Research Division
Thanks. Good morning, everybody. We're pleased to continue the morning with Columbia Banking System, Inc. We have Clint Stein, the Chairman, President and CEO; and Ivan Seda, the CFO, joining us today. So thanks a lot for coming all the way in from the West Coast.
Clint Stein
President, CEO & Chairman of the Board
Thanks for having us.
Question-and-Answer Session
Jared David Shaw
Barclays Bank PLC, Research Division
Maybe starting off, we're now well into the third quarter. How would you characterize the operating environment today relative to where things stood at the end of July? When you think about customer activity, pipeline, sentiment and competitive behavior, what's gotten better? What's gotten tougher? I guess what surprised you the most?
Clint Stein
President, CEO & Chairman of the Board
There's a lot of different aspects to that question. I think the -- from my perspective, not much has changed in terms of our pipelines are pretty much where they were in July. Customers are still moving forward with their projects and activities and investments. Competition is -- it started really picking up in the second quarter on the deposit side and then some -- what I characterized in the second quarter as borderline irrational things on the loan side. So we still see that.
There's still a big push for folks that are just trying to grow totals on their balance sheet. But so far, our
, /PRNewswire/ -- Columbia Bank (the "Bank"), the wholly-owned banking subsidiary of Columbia Banking System, Inc. ("Columbia") (Nasdaq: COLB), announced today the pricing of its offering of $250 million aggregate principal amount of its 6.721% Fixed-to-Fixed Rate Subordinated Notes due 2036 (the "Notes"). The offering of the Notes is expected to close on September 18, 2026, subject to customary closing conditions.
The Notes have an initial fixed interest rate of 6.721% per annum, payable semi-annually in arrears, from the original issuance date through September 18, 2031, unless redeemed earlier. From and including September 18, 2031, through maturity, unless redeemed earlier, the Notes will bear interest at a fixed rate per annum equal to the Five-Year U.S. Treasury Rate as of the applicable reset determination date plus 195 basis points, payable semi-annually in arrears.
The Notes are intended to qualify as Tier 2 capital of the Bank for regulatory capital purposes.
The Bank intends to use the net proceeds from the offering for general corporate purposes, including to support growth and capital adequacy, and to return up to $250 million of capital to Columbia. Columbia intends to use the returned capital to redeem certain of its outstanding trust preferred securities.
The Notes will be unsecured, subordinated obligations and will be subordinated in right of payment to all of the Bank's existing and future senior debt, whether secured or unsecured, including claims of depositors and general creditors. The Notes will be obligations of the Bank only and will not be obligations of, and will not be guaranteed by, Columbia.
This press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Notes in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The Notes have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), and are being offered and sold only to institutional accredited investors within the meaning of the Securities Act in reliance on the exemption contained in Section 3(a)(2) of the Securities Act. The indebtedness evidenced by the Notes is not a deposit and is not insured by the Federal Deposit Insurance Corporation or any other government agency or fund.
About Columbia
Columbia is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management.
Note Regarding Forward-Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate," "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2026 and June 30, 2026, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
, /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB) will participate in the Barclays 24th Annual Global Financial Services Conference. Representatives of Columbia are scheduled to present on Tuesday, September 15, 2026, at 9:45 a.m. ET.
A live audiocast of the presentation, which may contain forward-looking statements, as well as an audio replay will be available in the "News & Market Data – Event Calendar" section of our investor relations website at www.columbiabankingsystem.com.
About Columbia
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate," "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its Annual Report on Form 10-K for the Fiscal Year ended December 31, 2025 and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2026 and June 30, 2026, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
EP Wealth Advisors LLC purchased a new stake in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 64,751 shares of the financial services provider’s stock, valued at approximately $2,075,000.
Other large investors have also added to or reduced their stakes in the company. BW Gestao de Investimentos Ltda. purchased a new stake in shares of Columbia Banking System during the fourth quarter worth about $9,782,000. Easterly Investment Partners LLC increased its holdings in Columbia Banking System by 10.6% during the 4th quarter. Easterly Investment Partners LLC now owns 713,206 shares of the financial services provider’s stock valued at $19,934,000 after purchasing an additional 68,388 shares during the period. TD Asset Management Inc increased its holdings in Columbia Banking System by 12.0% during the 4th quarter. TD Asset Management Inc now owns 461,928 shares of the financial services provider’s stock valued at $12,911,000 after purchasing an additional 49,454 shares during the period. Fifth Third Bancorp raised its position in Columbia Banking System by 3,617.7% during the 1st quarter. Fifth Third Bancorp now owns 75,469 shares of the financial services provider’s stock valued at $2,070,000 after purchasing an additional 73,439 shares during the last quarter. Finally, Pzena Investment Management LLC raised its position in Columbia Banking System by 12.7% during the 1st quarter. Pzena Investment Management LLC now owns 2,033,219 shares of the financial services provider’s stock valued at $55,771,000 after purchasing an additional 228,825 shares during the last quarter. Institutional investors own 92.53% of the company’s stock.
Insiders Place Their Bets In related news, CMO Devine David Moore sold 3,872 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.77, for a total value of $115,269.44. Following the sale, the chief marketing officer directly owned 18,636 shares of the company’s stock, valued at $554,793.72. This represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by insiders.
Analyst Ratings Changes COLB has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on Columbia Banking System from $32.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Monday, August 10th. Keefe, Bruyette & Woods raised their price target on Columbia Banking System from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Royal Bank Of Canada lifted their price target on shares of Columbia Banking System from $34.00 to $35.00 and gave the company a “sector perform” rating in a report on Friday, July 24th. Piper Sandler boosted their price objective on shares of Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Columbia Banking System from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $33.35. Read Our Latest Analysis on Columbia Banking System
Columbia Banking System Stock Performance Columbia Banking System stock opened at $30.81 on Friday. The stock’s 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $30.06. The stock has a market cap of $8.72 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 3.05 and a beta of 0.63. Columbia Banking System, Inc. has a fifty-two week low of $23.83 and a fifty-two week high of $33.67.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.The firm had revenue of $677.00 million for the quarter, compared to the consensus estimate of $687.40 million. During the same quarter in the prior year, the business earned $0.76 EPS. On average, analysts predict that Columbia Banking System, Inc. will post 3.03 earnings per share for the current year.
Columbia Banking System Announces Dividend The company also recently declared a quarterly dividend, which will be paid on Monday, September 14th. Investors of record on Friday, August 28th will be given a dividend of $0.37 per share. The ex-dividend date is Friday, August 28th. This represents a $1.48 annualized dividend and a dividend yield of 4.8%. Columbia Banking System’s payout ratio is currently 58.96%.
(Free Report)
Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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, /PRNewswire/ -- Columbia Bank (Columbia), a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced the opening of a new commercial office and retail branch in Draper, Utah. Situated 20 miles outside of Salt Lake City, the Draper location is the first of three new Columbia branches set to open in the Salt Lake City Metropolitan Area in 2026.
Columbia has steadily expanded its Utah presence since entering the market in 2022 with a commercial banking team led by Utah Market Director Jeff Thomas. In addition to its commercial and industrial (C&I) banking teams, Columbia also recently expanded its market capabilities with the addition of a Salt Lake City-based commercial real estate group led by Steve Strong and David Griffin.
"Utah is one of the most dynamic commercial markets in the West, and the Salt Lake City area represents an important connection point between our growing teams in the Mountain West and our broader footprint," said Clint Stein, CEO of Columbia Bank. "With multiple new locations opening in the coming months, Columbia is deepening our investment in the market and strengthening our ability to deliver the expertise and resources local businesses need to succeed."
Continued Utah Expansion
Columbia Bank's Draper branch opening will be followed by two additional locations in Pleasant Grove and the Sugar House neighborhood of Salt Lake City. Together, the three branches will provide enhanced access to Columbia's full range of commercial and retail capabilities, including consumer banking, C&I lending, commercial real estate lending, healthcare banking, home builder finance, treasury management, wealth management and commercial card services.
"Columbia Bank is a great fit for Utah business owners who deeply value accessibility and responsiveness and want to work with a banking partner that understands their business and can grow alongside them," said Thomas. "We are eager to bring our local expertise and relationship-based service model to more Utah businesses and communities as we continue building on our momentum since entering the market."
South Jordan Branch Moved to Expanded Draper Location
Located in Draper's Minuteman Office Plaza, the new branch sits along Utah's Silicon Slopes tech corridor, which is one of the region's most active business and innovation hubs. The location combines commercial and retail banking services in a 14,000 square foot facility.
Located at 13947 Minuteman Drive, Suite 175, the branch in Draper is now open from 9 a.m. to 5 p.m., Monday through Friday. Matt Quinney serves as Retail Branch Manager. Quinney previously led Columbia's South Jordan branch, which was transitioned to the enhanced Draper location last month. The local team and bank leaders welcomed community members to a grand opening celebration on July 27.
"Columbia's retail and business banking teams in Draper bring deep local knowledge and a longstanding commitment to serving Utah families, businesses and nonprofit organizations," said Dave Hansen, Head of Retail Banking at Columbia. "This new location gives us greater capacity to serve a growing community while continuing to deliver the personal relationships and responsive service that customers value."
Learn more about Columbia Bank's growing Utah presence at https://www.columbiabank.com/locations/utah.
About Columbia Bank
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.
, /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB), parent company of Columbia Bank, today announced its Board of Directors has approved a quarterly cash dividend in the amount of $0.37 per common share, payable September 14, 2026 to shareholders of record as of August 28, 2026.
About Columbia
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate," "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its Annual Report on Form 10-K for the Fiscal Year ended December 31, 2025 and its Quarterly Reports on Form 10-Q for the three months ended March 31, 2026 and June 30, 2026, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
, /PRNewswire/ -- Columbia Bank (Columbia), a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced the opening of its first commercial office and retail branch in Colorado Springs. The new location expands Columbia's Colorado footprint and strengthens its ability to serve businesses, consumers and nonprofit organizations throughout Southern Colorado.
Columbia Bank and community leaders gathered for a ribbon-cutting ceremony to celebrate the bank's first commercial and retail location in Colorado Springs. Columbia has been operating in Colorado Springs since 2023 with the addition of Southern Colorado Market Director Alex Sullivan. Under Sullivan's leadership, the bank has established a strong deposit base on the strength of its full suite of services, including treasury management, commercial card services, debt capital markets, foreign exchange banking, and C&I and commercial real estate lending.
According to Tory Nixon, President of Columbia, the addition of dedicated commercial and retail space reflects Columbia's long-term commitment to Colorado Springs and its continued growth.
"Columbia Bank has seen tremendous momentum in Colorado Springs even without a physical location, which speaks to the strength of this market and the relationships we've built here," said Nixon. "Opening a commercial office and full-service retail branch allows us to deepen our commitment to local businesses and better serve the community. Our focus on local decision-making and long-term relationships continues to resonate with business owners and operators across the region."
Expanding Colorado Footprint
Columbia Bank entered the Colorado market in 2022 under the leadership of Mountain West Regional Director Shawn Thompson. In 2025, the bank opened its first Colorado retail branch and now has four offices between its Denver and Colorado Springs commercial and retail banking spaces. Columbia Private Trust, a division of Columbia Bank with $19 billion in assets under custody, is also based in Denver.
The Colorado Springs Commercial Banking Center will be led by Sullivan, who previously held several positions at UMB Bank and played a prominent role in the City of Champions economic development initiative that brought five distinct sports and entertainment venues to Colorado Springs.
"Since entering Colorado, Columbia has built a strong local team that offers businesses a personalized banking experience backed by our broad capabilities," said Thompson. "Alex was our first leader in Colorado Springs, and his success building our commercial banking presence over the past two years helped make this branch opening possible."
Downtown Trolley District Location
Located in the downtown Trolley District, Columbia's first Colorado Springs location combines commercial and retail banking services in a 5,500-square-foot facility. The local team and bank leaders welcomed community members to a grand opening celebration on July 15.
The branch is located at 517 S. Cascade Ave, Unit A and will be open from 9 a.m. to 5 p.m., Monday through Friday.
Learn more about Columbia Bank's growing Colorado presence at www.columbiabank.com/locations/colorado.
About Columbia Bank
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.
Key Takeaways Columbia Banking Q2 NIM widened to 3.93% and expects it to reach or exceed 4% in the third quarter. COLB is redirecting capital to higher-return loans while allowing inherited transactional balances to run off.COLB returned capital through dividends and share buybacks, but higher expenses temper the near-term outlook. Columbia Banking System, Inc. (COLB - Free Report) is benefiting from a wider net interest margin (NIM), rising fee income and sustained capital returns. Those strengths are being offset by a larger expense base, planned balance-sheet contraction and uneven credit trends.
The central question is whether improving core profitability and a modest valuation discount justify accepting near-term execution risks. For now, the evidence favors patience rather than a new position.
COLB’s Margin Recovery Supports Core EarningsNIM reached 3.93% in the second quarter of 2026, up 18 basis points year over year. The cost of interest-bearing deposits fell 56 basis points to 1.96%, while the cost of total deposits declined to 1.32%.
Management expects the margin to reach or exceed 4% in the third quarter. Lower funding costs, asset repricing and a shift toward higher-return relationship loans should support core earnings, although competitive deposit pricing could limit further improvement.
Columbia Banking Faces a Larger Cost BaseSecond-quarter non-interest expenses rose 34.9% year over year to $375 million. Salaries and employee benefits increased 26.5%, occupancy and equipment costs advanced 38.3%, and intangible amortization climbed 46.2%.
Pacific Premier acquisition synergies were essentially complete by June 30, with savings exceeding the original target by $5 million. Even so, management expects third-quarter expenses excluding core deposit intangible amortization of $330-$335 million. Faster operating leverage depends on those savings outpacing ongoing compensation, occupancy and reinvestment costs.
COLB’s Loan Remix Trades Growth for QualityColumbia is running off inherited transactional loans rather than rebuilding that portfolio. Balances declined by about $270 million in the second quarter, and management expects reductions of roughly $250 million or slightly more per quarter over the next several quarters.
Capital is being redirected toward commercial and industrial loans and owner-occupied commercial real estate, which can generate deposits and fee income. Commercial loans, including owner-occupied real estate, grew at a 5% annualized rate. The trade-off is restrained total loan growth until around mid-2027.
Columbia Banking’s Valuation Offers a Mixed SignalCOLB trades at 9.96X forward 12-month price-to-earnings, below the industry’s 10.66X but above its five-year median of 9.11X. The discount is modest rather than decisive, especially with the 2026 earnings estimate recently revised lower.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
COLB trades at a discount to its peer, East West Bancorp (EWBC - Free Report) based on its P/E multiple of 12.05X, while trading at a slight premium to Zions Bancorporation (ZION - Free Report) , which has a P/E multiple of 9.95X.
COLB’s Capital Returns Strengthen the CaseCapital remains a clear support. Columbia ended June 30, 2026 with a common equity Tier 1 ratio of 11.6% and a total risk-based capital ratio of 13.4%. The company pays quarterly dividend of 37 cents per share. In the past five years, COLB hiked its dividend three times and has a dividend yield of 4.7%. East West Bancorp has a dividend yield of 2.4% while Zions Bancorporation has a dividend yield of 2.6%.
The company also repurchased 6.6 million shares for $199 million in the second quarter and guided to $150-$200 million of third-quarter buybacks. Those returns improve per-share economics, but preserving flexibility matters if credit costs or post-integration pressures stay elevated.
COLB’s Weak Ratings Favor a Wait-and-See ApproachThe bottom line is that margin recovery, fee growth and capital returns improve the longer-term case, but the expense burden, loan runoff and competitive pricing limit near-term upside.
Over the past six months, COLB shares gained 3.4%, lagging the S&P 500 as well as East West Bancorp and Zions Bancorporation.
Price Performance
Image Source: Zacks Investment Research
COLB currently carries a Zacks Rank #5 (Strong Sell). Its Value Score of C suggests the valuation is only middle-of-the-pack, while the Growth Score of D, Momentum Score of D and VGM Score of D point to weak near-term support across key investment styles. The combination favors a wait-and-see approach until earnings revisions and operating leverage improve.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways COLB beat Q2 earnings estimates, but revenue missed expectations despite higher net interest income.COLB benefited from lower funding costs and stronger fee income, while loans declined through planned runoff.COLB saw non-performing assets rise 51.7%, keeping credit quality and expense control in focus. Columbia Banking System, Inc. (COLB - Free Report) topped second-quarter 2026 earnings expectations as net interest income (NII) and fee income advanced. Operating earnings of 76 cents per share beat the Zacks Consensus Estimate of 73 cents.
The quarter was less convincing beneath the headline. Revenues missed expectations, expenses remained elevated, balances declined and non-performing assets increased, leaving credit and efficiency trends central to the outlook.
COLB’s Earnings Beat Came With Revenue StrengthTotal revenues increased 32.5% year over year to $677 million, supported by the larger balance sheet following the Pacific Premier acquisition. Net interest income rose 32.1% to $589 million.
Still, revenues fell short of the Zacks Consensus Estimate of $688.4 million. That miss limits the strength of the earnings beat because the upside came with less top-line support than analysts expected.
Columbia Banking Benefited From Lower Funding CostsCOLB’s NII was $589 million, up 32.1% from the second quarter of 2025. The increase reflected the larger balance sheet following the Pacific Premier acquisition. The net interest margin (NIM) expanded 18 basis points year over year to 3.93%. The cost of interest-bearing deposits declined 56 basis points to 1.96%, while the cost of total deposits fell to 1.32% from 1.73%.
Management expects the margin to reach or exceed 4% in the third quarter. Continued loan repricing, a shift toward higher-return relationship lending and reductions in higher-cost funding are expected to support that improvement.
East West Bancorp (EWBC - Free Report) is a key peer with a Zacks Rank #3 at present. In the second quarter of 2026, its NIM expanded eight basis points (bps) to 3.43%. Supported by robust loan demand, lower deposit beta and stabilizing funding costs alongside balance sheet hedging, EWBC’s NIM growth is expected to continue in the near term.
Zions Bancorporation (ZION - Free Report) is another close peer with a Zacks Rank #3. ZION has been witnessing a rise in NIM for the last several quarters as funding costs declined. In the second quarter 2026, NIM expanded 10 basis points (bps) year over year to 3.27% In the near-term, the company’s NIM is likely to be positively impacted, driven by stabilizing deposit costs and asset yield repricing.
COLB’s Fee Businesses Added Greater DiversificationNon-interest income increased 35.4% year over year to $88 million. Service charges on deposits rose 15%, card-based fees gained 21% and financial services and trust revenues climbed to $15 million from $6 million.
Pacific Premier added custodial trust, homeowners’ association banking, escrow and 1031 exchange capabilities. Those platforms and broader cross-selling could help support earnings while total loans contract through the planned runoff of transactional credits.
Columbia Banking’s Expenses Diluted the ProgressNon-interest expenses rose 34.9% year over year to $375 million. Salaries and employee benefits increased 26.5%, occupancy and equipment costs climbed 38.3% and intangible amortization advanced 46.2%.
Management expects third-quarter non-interest expenses, excluding core deposit intangible amortization, of $330-$335 million. Banner Corporation (BANR), another western regional bank, also operates a relationship-focused franchise, making expense discipline and funding quality important competitive benchmarks across the region.
COLB’s Credit Trends Create the Main Earnings RiskThe provision for credit losses declined 10% year over year to $27 million, while net charge-offs improved to 0.25% of average loans and leases from 0.31%. Those figures point to manageable current loss absorption.
The risk is in problem-asset migration. Non-performing assets jumped 51.7% year over year to $273 million, while FinPac charge-offs were $15 million. Commercial real estate migration and changes in economic forecasts could keep credit costs uneven.
COLB’s Weak Ratings Temper the Earnings BeatThe earnings beat shows that lower funding costs and broader fee income can offset some pressure from balance-sheet contraction. Rising non-performing assets and a larger expense base, however, leave little room for execution setbacks.
Columbia Banking currently carries a Zacks Rank #5 (Strong Sell), signaling unfavorable near-term earnings estimate revisions.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Over the past six months, COLB shares have gained 3.5%, only modestly outperforming the industry's 2.5% rise. The limited relative outperformance indicates that the earnings beat has not been sufficient to meaningfully improve investor sentiment, as concerns over credit quality and expense pressures continue to weigh on the stock's outlook.
Price Performance
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Its Value Score of C is neutral, while the Growth Score of D, Momentum Score of D and VGM Score of D indicate weaker growth, price-trend and combined style characteristics. These ratings temper the benefit of improving revenue drivers and keep expense control and credit quality in focus.
California State Teachers Retirement System boosted its holdings in shares of Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 26.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 359,143 shares of the financial services provider’s stock after purchasing an additional 75,915 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Columbia Banking System worth $9,851,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in Columbia Banking System by 194.6% during the first quarter. Geneos Wealth Management Inc. now owns 1,202 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 794 shares during the period. Cedar Mountain Advisors LLC raised its stake in Columbia Banking System by 571.7% during the 1st quarter. Cedar Mountain Advisors LLC now owns 1,115 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 949 shares during the last quarter. Horizon Investments LLC boosted its holdings in Columbia Banking System by 168.8% in the 4th quarter. Horizon Investments LLC now owns 1,231 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 773 shares during the period. Rossby Financial LCC bought a new stake in Columbia Banking System in the 4th quarter valued at $36,000. Finally, Hilton Head Capital Partners LLC acquired a new stake in Columbia Banking System in the 4th quarter worth $43,000. Institutional investors and hedge funds own 92.53% of the company’s stock.
Columbia Banking System Price Performance Columbia Banking System stock opened at $31.50 on Tuesday. The stock has a fifty day moving average price of $31.20 and a two-hundred day moving average price of $29.81. Columbia Banking System, Inc. has a 52-week low of $23.18 and a 52-week high of $33.67. The firm has a market capitalization of $9.12 billion, a P/E ratio of 12.55, a P/E/G ratio of 3.11 and a beta of 0.63.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last issued its earnings results on Thursday, July 23rd. The financial services provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. The company had revenue of $680.00 million for the quarter, compared to the consensus estimate of $687.40 million. Columbia Banking System had a net margin of 19.96% and a return on equity of 11.33%. During the same quarter in the previous year, the company earned $0.76 EPS. On average, equities research analysts predict that Columbia Banking System, Inc. will post 3.02 EPS for the current fiscal year.
Columbia Banking System Dividend Announcement The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Columbia Banking System’s dividend payout ratio is currently 58.96%.
Analysts Set New Price Targets COLB has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Stephens increased their target price on shares of Columbia Banking System from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Wells Fargo & Company boosted their price target on Columbia Banking System from $30.00 to $32.00 and gave the company an “equal weight” rating in a research note on Monday, July 6th. Piper Sandler upped their price target on Columbia Banking System from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Finally, Keefe, Bruyette & Woods upped their price target on Columbia Banking System from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.19.
Get Our Latest Stock Analysis on Columbia Banking System
Insiders Place Their Bets In other news, CMO Devine David Moore sold 3,872 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the completion of the sale, the chief marketing officer owned 18,636 shares of the company’s stock, valued at approximately $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.57% of the company’s stock.
Columbia Banking System Profile (Free Report)
Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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, /PRNewswire/ -- Columbia Banking System, Inc. (Nasdaq: COLB) today announced the appointment of Simone Lagomarsino to its Board of Directors, effective September 1, 2026. Lagomarsino will serve on the Board's Enterprise Risk Management Committee and Audit Committee.
Lagomarsino is a seasoned financial services executive with more than 40 years of leadership experience across finance, governance and risk management. Most recently, she served as President and Chief Risk Officer of First Foundation Inc. and First Foundation Bank until the company's sale.
Simone Lagomarsino joins Columbia Banking System's Board of Directors "Simone brings deep banking experience, proven executive leadership and a strong understanding of risk, governance and value creation," said Clint Stein, Chairman, CEO and President of Columbia Banking System. "Her perspective will be a valuable addition to our Board as we continue to strengthen Columbia's franchise and deliver long-term value for our shareholders."
Before joining First Foundation, Lagomarsino served as President and Chief Executive Officer of Luther Burbank Corporation and Luther Burbank Savings, where she repositioned the organization for stronger performance, expanded digital marketing capabilities and led the company until its sale. She previously served as President and Chief Executive Officer of the California Bankers Association and as Chief Executive Officer of Heritage Oaks Bancorp, where she delivered top-tier performance and significant growth in assets and earnings.
"Columbia has built one of the West's most respected banking franchises through disciplined growth and a commitment to prudent risk management," said Lagomarsino. "I'm honored to be appointed to its Board of Directors and look forward to working with other members and executive leadership to create lasting value for shareholders, customers and communities."
Lagomarsino's prior board service includes First Foundation Inc., the Federal Home Loan Bank of San Francisco, Luther Burbank Corporation, Hannon Armstrong Sustainable Infrastructure Capital, Inc., Pacific Premier Bancorp, Inc. and Heritage Oaks Bancorp. She also served on the board of the Federal Reserve Bank of San Francisco. For her leadership and accomplishments, Lagomarsino has received numerous recognitions, including being named "Community Banker of the Year" by American Banker and a "Banking & Finance Visionary" by the Los Angeles Times.
Lagomarsino earned a Bachelor of Arts in Economics from Claremont McKenna College and a Master of Business Administration in Finance from Claremont Graduate School.
About Columbia
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
First Trust Advisors LP reduced its stake in Columbia Banking System, Inc. (NASDAQ:COLB – Free Report) by 37.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,203,045 shares of the financial services provider’s stock after selling 729,796 shares during the period. First Trust Advisors LP owned approximately 0.42% of Columbia Banking System worth $33,000,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Rice Partnership LLC purchased a new stake in Columbia Banking System during the 1st quarter worth about $362,000. Dimensional Fund Advisors LP grew its holdings in Columbia Banking System by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,549,603 shares of the financial services provider’s stock valued at $371,656,000 after buying an additional 408,087 shares in the last quarter. Parallel Advisors LLC grew its holdings in Columbia Banking System by 35.2% during the 1st quarter. Parallel Advisors LLC now owns 5,130 shares of the financial services provider’s stock valued at $141,000 after buying an additional 1,336 shares in the last quarter. Swiss National Bank increased its position in shares of Columbia Banking System by 0.4% during the first quarter. Swiss National Bank now owns 592,193 shares of the financial services provider’s stock valued at $16,244,000 after buying an additional 2,300 shares during the period. Finally, Kera Capital Partners Inc. increased its position in shares of Columbia Banking System by 5.7% during the first quarter. Kera Capital Partners Inc. now owns 7,894 shares of the financial services provider’s stock valued at $217,000 after buying an additional 425 shares during the period. 92.53% of the stock is currently owned by hedge funds and other institutional investors.
Columbia Banking System Stock Up 1.2% NASDAQ COLB opened at $31.27 on Wednesday. The stock’s 50-day simple moving average is $31.08 and its two-hundred day simple moving average is $29.74. Columbia Banking System, Inc. has a twelve month low of $22.77 and a twelve month high of $33.67. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 12.46, a PEG ratio of 2.11 and a beta of 0.62.
Columbia Banking System (NASDAQ:COLB – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $680.00 million during the quarter, compared to analysts’ expectations of $687.40 million. Columbia Banking System had a return on equity of 11.33% and a net margin of 19.96%.During the same period in the prior year, the business earned $0.76 EPS. On average, equities analysts expect that Columbia Banking System, Inc. will post 3.03 earnings per share for the current fiscal year.
Columbia Banking System Announces Dividend The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $0.37 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.48 annualized dividend and a yield of 4.7%. Columbia Banking System’s dividend payout ratio is currently 58.96%.
Insider Buying and Selling In other Columbia Banking System news, CMO Devine David Moore sold 3,872 shares of the stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.77, for a total transaction of $115,269.44. Following the transaction, the chief marketing officer directly owned 18,636 shares in the company, valued at $554,793.72. This trade represents a 17.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth A number of analysts recently weighed in on COLB shares. Piper Sandler upped their target price on shares of Columbia Banking System from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Royal Bank Of Canada increased their price objective on Columbia Banking System from $34.00 to $35.00 and gave the stock a “sector perform” rating in a research report on Friday, July 24th. Barclays boosted their target price on Columbia Banking System from $29.00 to $31.00 and gave the stock an “equal weight” rating in a research report on Friday. Fundamental Research set a $35.00 price target on Columbia Banking System in a research report on Wednesday, July 1st. Finally, Wall Street Zen lowered Columbia Banking System from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $33.27.
View Our Latest Analysis on Columbia Banking System
Columbia Banking System Company Profile (Free Report)
Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company’s offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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Columbia Banking System is reiterated as a buy, driven by regional brand strength, dividend appeal, market momentum, and margin recovery. COLB's Q2 earnings beat, 4.7% yield, and strong Pacific Northwest market share support a bullish thesis despite macro headwinds. Margin recovery, prudent expense management, and completed acquisition integration offset risks from potential Fed rate hikes and rising funding costs.
Key Takeaways Columbia Banking beat Q2 earnings estimates, though revenues missed the same. COLB's NII and fee income rose on the larger balance sheet after the Pacific Premier acquisition.Columbia Banking completed acquisition cost synergies as of June 30, 2026 and met its cost-saving target. Columbia Banking System (COLB - Free Report) posted second-quarter 2026 operating earnings of 76 cents per share, beating the Zacks Consensus Estimate of 73 cents. The figure was unchanged from the prior-year quarter.
Quarterly results reflected higher net interest income (NII) and a rise in non-interest income. Lower provisions were another positive. However, higher non-interest expenses and lower loan and deposit balances were the undermining factors.
Net income (GAAP) was $208 million compared with $152 million in the year-ago quarter.
COLB’s NII & Fee Income RiseTotal revenues came in at $677 million, up 32.5% year over year. The metric, however, missed the Zacks Consensus Estimate of $688.4 million.
COLB’s NII was $589 million, up 32.1% from the second quarter of 2025. The increase reflected the larger balance sheet following the Pacific Premier acquisition.
The net interest margin expanded 18 basis points year over year to 3.93%. Funding costs were lower than the year-ago quarter, with the cost of interest-bearing deposits declining 56 basis points to 1.96% from 2.52%. The cost of total deposits fell to 1.32% from 1.73%.
Non-interest income was $88 million, up 35.4% from the year-ago level. Service charges on deposits increased 15% to $23 million, while card-based fees rose 21% to $17 million. Financial services and trust revenues increased to $15 million from $6 million. Other income was $19 million, up 58%.
COLB’s Expenses IncreaseColumbia Banking’s non-interest expenses were $375 million, up 34.9% from the second quarter of 2025. The year-over-year increase reflected higher costs across several categories on a larger operating base.
Salaries and employee benefits were $196 million, up 26.5% from $155 million. Occupancy and equipment expenses increased 38.3% to $65 million, while intangible amortization rose 46.2% to $38 million. Merger and restructuring expenses were $9 million compared with $8 million in the year-ago quarter.
Management noted that all organizational changes and cost-related synergies associated with the Pacific Premier acquisition were essentially complete as of June 30, 2026, including the achievement of its previously disclosed cost-savings target.
COLB’s Loans & Deposits Decline SequentiallyAs of June 30, 2026, loans and leases were $47.2 billion, down 1% sequentially. The decline reflected continued expected runoff in below-market-rate transactional loans and lower non-owner-occupied commercial real estate balances because of elevated payoffs and competitive pricing pressure.
Commercial loans, including owner-occupied commercial real estate, increased at an annualized rate of 5% from the prior quarter, partly offsetting contraction in other portfolios.
Total deposits declined 3% sequentially to $52.1 billion. The decrease reflected intentional reductions in brokered deposits and wholesale public deposits.
Columbia Banking’s Credit Quality: Mixed BagCOLB’s provision for credit losses was $27 million, down 10% from $30 million in the year-ago quarter.
Net charge-offs were 0.25% of average loans and leases (annualized), down from 0.31% a year earlier. The allowance for credit losses was $475 million, up 8.2% from $439 million. However, the allowance for credit losses-to-loans and leases ratio declined to 1.01% from 1.17%.
Non-performing assets totaled $273 million, up 51.7% from $180 million, and the non-performing assets-to-total assets ratio increased to 0.42% from 0.35% in the second quarter of 2025.
Columbia Banking’s Capital Ratios ImproveAs of June 30, 2026, the estimated total risk-based capital ratio was 13.4%, up from 13% in the second quarter of 2025. The estimated common equity Tier 1 risk-based capital ratio was 11.6%, up from 10.8% in the prior-year quarter.
Book value per common share increased 5.1% year over year to $26.70. Tangible book value per common share rose 4.1% to $19.22.
COLB’s Share Repurchases UpdateIn the reported quarter, Columbia Banking repurchased 6.6 million common shares at an average price of $29.93, returning $199 million to shareholders. The company had $202 million remaining under its existing share repurchase authorization as of June 30, 2026.
Our Viewpoint on COLBColumbia Banking’s larger balance sheet following the Pacific Premier acquisition supported solid year-over-year growth in NII and fee income. Lower deposit costs and active management of funding rates aided the net interest margin. The completion of acquisition-related organizational changes and cost synergies should support operating efficiency.
However, the continued runoff of below-market-rate transactional loans, competitive pressure in commercial real estate and intentional reductions in higher-cost deposits are likely to constrain near-term balance-sheet growth. Rising non-performing assets and elevated operating expenses remain concerning.
At present, COLB carries a Zacks Rank 4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other BanksFirst Horizon Corporation (FHN - Free Report) posted second-quarter 2026 earnings per share of 54 cents, surpassing the Zacks Consensus Estimate of 52 cents. This compares favorably with earnings of 45 cents in the year-ago quarter.
FHN’s results benefited from higher net interest income and non-interest income, along with a lower provision for credit losses. Higher loan and deposit balances also provided support. However, rising expenses and weaker capital ratios were headwinds.
F.N.B. Corporation (FNB - Free Report) reported second-quarter 2026 earnings of 42 cents per share, which matched the Zacks Consensus Estimate. The bottom line jumped 16.7% year over year.
FNB’s results primarily benefited from higher NII, a rise in non-interest income and lower provisions. Higher average loans and deposits were other positives. However, higher non-interest expenses hurt the results to some extent.
4 Dividend Growth Stocks the Trade Tariffs Can’t TouchColumbia Banking System NASDAQ: COLB reported second-quarter earnings per share of $0.73 and operating earnings per share of $0.76, with management saying results reflected continued progress on balance sheet reshaping, expense discipline and shareholder capital returns.
Chairman, CEO and President Clint Stein said the quarter “once again” reflected the company’s core priorities: delivering consistent results, improving long-term profitability through balance sheet changes and returning excess capital to shareholders. He said Columbia continued to emphasize relationship-based growth while resisting pricing and structures it views as unattractive.
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“Columbia does not chase growth for the sake of growth,” Stein said. “We are seeing pricing and structures in the market that we believe are irrational, we will not meet them.”
Loan Balances Decline as Commercial Growth Offsets Some Runoff Co-President Chris Merrywell said new loan origination volume totaled $1.3 billion, in line with the prior quarter. Commercial loan production, including owner-occupied commercial real estate, rose 9% from the previous quarter and 49% from the year-ago quarter. That helped drive a 5% annualized increase in commercial loans.
However, total loans declined to $47.2 billion from $47.7 billion at March 31. Management attributed the decrease to elevated payoffs in non-owner-occupied commercial real estate and continued runoff in transactional loans.
CFO Ivan Seda said the transactional portfolio declined by roughly $270 million during the quarter, while C&I and owner-occupied commercial real estate grew by slightly more than $250 million. He said commercial loans, including owner-occupied commercial real estate, now represent 42% of the loan portfolio.
Co-President Tory Nixon said competition in commercial real estate lending has become “pretty choppy,” with some loans refinancing away from Columbia. He said the company is not changing its underwriting standards or cutting pricing to retain volume, though he added that the bank has seen growth in its real estate pipeline at structures and prices it considers acceptable.
Net Interest Margin Expected to Move Above 4% Columbia reported a second-quarter net interest margin of 3.93%. Seda said the figure included a three-basis-point headwind from one-time credit-related interest reversals. Adjusted for that item, he said margin was essentially flat with the prior quarter.
Seda also pointed to a lower-than-expected yield on investment securities, caused by higher interest rates affecting accounting adjustments tied to expected prepayment speeds on mortgage-backed and related securities. He said that was a four-basis-point headwind in the quarter.
Despite those factors, Seda said the company still expects net interest margin to move “up to and beyond” 4% in the third quarter on a quarterly average basis. He cited continued loan remixing, repricing opportunities and balance sheet optimization as drivers.
On deposits, Merrywell said seasonal tax-related outflows occurred early in the quarter, with balances stabilizing in May and June and beginning to expand seasonally in July. Deposit campaigns have generated new accounts with nearly $1.5 billion in deposits year to date through July, he said.
The company also maintained deposit pricing discipline. Merrywell said the spot cost of interest-bearing deposits declined four basis points from March 31 to 1.94% as of June 30. However, Seda and Merrywell both noted that competition for deposits has intensified, with some competitors again offering rates above 4%.
Fees Beat Guidance; Expenses Come in Below Outlook Non-interest income was $88 million on a GAAP basis and $91 million on an operating basis. Seda said the result was above the company’s guided range of $80 million to $85 million, even after adjusting for a unique $3 million bank-owned life insurance gain. Columbia expects non-interest revenue in the mid-$80 million range for the third quarter.
Management highlighted growth across treasury management, commercial cards, merchant services and wealth management. Nixon said treasury management revenue was up just under 9% year over year, while international banking, commercial card and merchant businesses were each up about 9.5%. He also said commercial card spend topped $100 million in June for the first time, up 14% year over year, and that the combined wealth business had a record-setting second quarter.
Operating non-interest expense was $366 million. Excluding intangible amortization of $38 million, the run rate was $328 million, below guidance. Seda attributed the lower expense level to Pacific Premier-related synergy outperformance, core expense management and timing of strategic reinvestment.
Stein said Columbia exceeded the cost-saving target it set when it announced the Pacific Premier acquisition and was materially below the merger-related deal cost estimate disclosed at the time of the transaction. Seda said the company exceeded its cost synergy target by $5 million. For the third quarter, Columbia expects non-interest expense excluding CDI amortization to be in the $330 million to $335 million range, with a similar range expected for the fourth quarter.
Credit Metrics Stable; Capital Returns Continue Provision expense was $27 million, reflecting loan runoff, credit migration trends and modest changes in economic forecasts used in credit models. Seda said credit metrics remained stable and healthy. The allowance for credit losses covered 1.01% of total loans at quarter-end, or 1.26% when incorporating the credit discount on acquired loans.
Chief Credit Officer Frank Namdar said agriculture remains the main area he is watching, though he noted signs of stabilization. He also said the company is monitoring smaller borrowers, including SBA and small business credits, but those portfolios are “still holding in pretty nicely.”
Columbia returned more than $300 million to shareholders during the quarter through dividends and share repurchases. Seda said the company repurchased 6.6 million common shares, returning approximately $200 million through its buyback program.
The company’s common equity tier 1 ratio was 11.6%, and its total risk-based capital ratio was 13.4% at quarter-end. Seda said Columbia had about $530 million of excess capital above its long-term target ratios as of June 30, with $200 million remaining under its current repurchase authorization. Tangible book value rose 1% during the quarter to $19.22.
Seda said share repurchases are expected to remain in the $150 million to $200 million range for the third quarter, and management plans to discuss future repurchase authorization plans on the next earnings call.
Management Rules Out Whole-Bank M&A During the question-and-answer session, Stein said Columbia has “zero interest” in whole-bank mergers and acquisitions. He said Pacific Premier was the “missing piece” to the franchise the company envisioned, and he emphasized that buying back Columbia’s own stock remains the best investment.
Stein said the company may consider a small bolt-on business at some point if it supports fee income or deposit generation, but said management is not interested in a transaction that would increase the share count.
“Now we’re having fun again,” Stein said. “Our people are having fun. We see the momentum that’s out there. We don’t want to disrupt that.”
About Columbia Banking System (NASDAQ:COLB)Columbia Banking System, Inc is a bank holding company that operates through its principal subsidiary, Columbia State Bank. Headquartered in Tacoma, Washington, the company provides a full range of banking and financial services to commercial, small business and consumer customers. Its branch network is concentrated in the Pacific Northwest, with locations across Washington, Oregon and Idaho, where it aims to combine local decision-making with the resources of a larger institution.
The company's offerings include commercial real estate lending, construction and development financing, equipment and small business loans, and deposit products such as checking, savings and money market accounts.
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Columbia Banking (COLB - Free Report) reported $677 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 32.5%. EPS of $0.76 for the same period compares to $0.76 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $688.41 million, representing a surprise of -1.66%. The company delivered an EPS surprise of +4.11%, with the consensus EPS estimate being $0.73.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Columbia Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net charge-offs to average loans and leases (annualized): 0.3% versus the three-analyst average estimate of 0.3%.Average Balance - Total interest-earning assets: $60.28 billion versus $60.69 billion estimated by three analysts on average.Efficiency Ratio: 55.2% versus the three-analyst average estimate of 52.8%.Net Interest Margin: 3.9% compared to the 4% average estimate based on three analysts.Total non-performing loans and leases: $268 million versus $267.74 million estimated by two analysts on average.Total non-performing assets: $273 million compared to the $270.77 million average estimate based on two analysts.Net Interest Income: $589 million compared to the $603.86 million average estimate based on three analysts.Total noninterest income: $88 million versus the three-analyst average estimate of $83.68 million.Service charges on deposits: $23 million versus the two-analyst average estimate of $20.35 million.Net interest income (FTE): $592 million versus the two-analyst average estimate of $605.01 million.Financial services and trust revenue: $15 million compared to the $15.11 million average estimate based on two analysts.View all Key Company Metrics for Columbia Banking here>>>
Shares of Columbia Banking have returned +3.5% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Columbia Banking (COLB - Free Report) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +4.11%. A quarter ago, it was expected that this bank holding company would post earnings of $0.68 per share when it actually produced earnings of $0.72, delivering a surprise of +5.88%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Columbia Banking, which belongs to the Zacks Banks - West industry, posted revenues of $677 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.66%. This compares to year-ago revenues of $510.91 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Columbia Banking shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 9.6%.
What's Next for Columbia Banking?While Columbia Banking has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Columbia Banking was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.78 on $701.22 million in revenues for the coming quarter and $3.05 on $2.78 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Coastal Financial Corporation (CCB - Free Report) , is yet to report results for the quarter ended June 2026.
This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +33.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Coastal Financial Corporation's revenues are expected to be $162.7 million, up 36.2% from the year-ago quarter.
"Our second quarter results demonstrate the resilience of our franchise and reflect the value of disciplined execution across the company," said Clint Stein, Chairman, CEO & President. "While the operating environment remains dynamic, we continued to execute on our strategic priorities through prudent expense management, ongoing balance sheet optimization, and consistent capital returns to shareholders. Commercial loan balances continued to grow, reflecting the strength of our customer relationships and the trust we have built across our markets. We also continued to reposition the balance sheet in ways that support stronger long-term performance. Supported by our diversified business model, sound credit culture, and strong capital generation, we remain committed to delivering sustainable returns and creating long-term value for our shareholders."
Clint Stein, Chairman, CEO & President of Columbia Banking System, Inc.
2Q26 HIGHLIGHTS (COMPARED TO 1Q26)
Net Interest
Income and
NIM
• Net interest income decreased by $5 million
from the prior quarter, due in part to $4 million of
interest income reversals, alongside modest
balance sheet deleveraging.
• Net interest margin was 3.93%, down 3 basis
points from the prior quarter, as the interest
income reversals mentioned above reduced the
net interest margin by 3 basis points.
Non-Interest
Income and
Expense
• Non-interest income increased by $5 million,
due primarily to higher treasury management
and card-based fees, partially offset by quarterly
changes in fair value adjustments and hedging
activity. Results also include $3 million in death
benefit proceeds related to a single policy.
• Non-interest expense decreased by $19 million,
due to lower merger expense and the realization
of acquisition-related cost savings.
Credit
Quality
• Net charge-offs were 0.25% of average loans
and leases (annualized), compared to 0.30% for
the prior quarter.
• Provision expense was $27 million, compared to
$28 million for the prior quarter.
• Non-performing assets to total assets ratio was
0.42%, compared to 0.40% as of March 31,
2026.
Capital
• Estimated total risk-based capital ratio of 13.4%
and estimated common equity tier 1 risk-based
capital ratio of 11.6%.
• Declared a quarterly cash dividend of $0.37 per
common share on May 15, 2026, which was
paid June 15, 2026.
• Repurchased $199 million of common stock
under our current repurchase plan.
Notable
Items
• Our first small business and retail campaign of
2026, which began in February and
ended April 30, 2026, brought over $600
million in new deposits to the bank and also was
successful in generating new SBA lending
relationships. Our second campaign began in
June and has generated approximately $650
million in new deposit balances through mid-
July.
2Q26 KEY FINANCIAL DATA
PERFORMANCE METRICS
2Q26
1Q26
2Q25
Return on average assets
1.27 %
1.18 %
1.19 %
Return on average common equity
10.99 %
10.00 %
11.56 %
Return on average tangible common
equity1
15.29 %
13.88 %
16.03 %
Operating return on average assets1
1.33 %
1.28 %
1.25 %
Operating return on average
common equity1
11.46 %
10.89 %
12.16 %
Operating return on average
tangible common equity1
15.95 %
15.11 %
16.85 %
Net interest margin
3.93 %
3.96 %
3.75 %
Efficiency ratio
55.15 %
58.03 %
54.29 %
Operating efficiency ratio, as
adjusted 1
52.92 %
53.68 %
51.79 %
INCOME STATEMENT
($ in millions, excl. per share data)
2Q26
1Q26
2Q25
Net interest income
$589
$594
$446
Provision for credit losses
$27
$28
$30
Non-interest income
$88
$83
$65
Non-interest expense
$375
$394
$278
Pre-provision net revenue1
$302
$283
$233
Operating pre-provision net
revenue1
$314
$306
$242
Earnings per common
share - diluted
$0.73
$0.66
$0.73
Operating earnings per common
share - diluted1
$0.76
$0.72
$0.76
Dividends paid per share
$0.37
$0.37
$0.36
BALANCE SHEET
($ in millions, excl. per share data)
2Q26
1Q26
2Q25
Total assets
$65,380
$66,027
$51,901
Loans and leases
$47,166
$47,697
$37,637
Deposits
$52,056
$53,489
$41,743
Book value per common share
$26.70
$26.47
$25.41
Tangible book value per common
share1
$19.22
$19.03
$18.47
Organizational Update
Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") closed its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") on August 31, 2025, and completed the systems conversion and nine branch consolidations during the first quarter of 2026. All organizational changes and cost-related synergies were essentially complete as of June 30, 2026, including the achievement of our previously disclosed cost savings target associated with the Pacific Premier acquisition.
During the second quarter, we opened a branch in Colorado Springs and a financial hub in Las Vegas. We continue to strategically expand and refine our physical footprint to support relationship-driven growth, while funding these initiatives through targeted real estate optimization and other efficiency improvements.
Net Interest Income and Net Interest Margin
Net interest income was $589 million for the second quarter of 2026, down $5 million from the first quarter of 2026, due in part to $4 million of interest income reversals, alongside modest balance sheet deleveraging.
Columbia's net interest margin was 3.93% for the second quarter of 2026, down 3 basis points from the first quarter of 2026, as the interest income reversals mentioned above reduced the net interest margin by 3 basis points during the second quarter. Excluding this impact, net interest margin was consistent between periods, as higher yields on loans and leases partially offset a lower yield on taxable securities, driven by changes in prepayment speed expectations. Improved funding costs also contributed favorably to the net interest margin.
The cost of interest-bearing deposits decreased 8 basis points from the prior quarter to 1.96% for the second quarter of 2026, compared to 2.04% for the first quarter of 2026. The decrease during the second quarter reflects our active management of deposit rates and a lower mix of higher-cost brokered deposits. The cost of interest-bearing deposits was 1.95% for the month of June and 1.94% as of June 30, 2026.
Columbia's cost of interest-bearing liabilities decreased 3 basis points from the prior quarter to 2.21% for the second quarter of 2026, compared to 2.24% for the first quarter of 2026. The cost of interest-bearing liabilities was 2.22% for the month of June and 2.21% as of June 30, 2026. Refer to the Q2 2026 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.
Non-interest Income
Non-interest income was $88 million for the second quarter of 2026, up $5 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value loss of $3 million for the second quarter, compared to a net fair value gain of $2 million for the first quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $91 million2 for the second quarter of 2026, up $10 million between periods, due primarily to higher treasury management and card-based fees. We also received $3 million in death benefit proceeds during the second quarter related to a single policy, which was recorded in other income.
Non-interest Expense
Non-interest expense was $375 million for the second quarter of 2026, down $19 million from the prior quarter, due to lower merger expense. Excluding merger and restructuring expense and exit and disposal costs, as detailed in our non-GAAP disclosures, non-interest expense was $366 million2, down $3 million from the prior quarter, due to cost savings related to the Pacific Premier acquisition. Refer to the Q2 2026 Earnings Presentation for additional expense details.
Balance Sheet
Total consolidated assets were $65.4 billion as of June 30, 2026, compared to $66.0 billion as of March 31, 2026. The decrease reflects balance sheet optimization activity. Cash and cash equivalents were $1.8 billion as of June 30, 2026, compared to $2.1 billion as of March 31, 2026. Including secured off-balance sheet lines of credit, total available liquidity was $25.6 billion as of June 30, 2026, representing 39% of total assets, 49% of total deposits, and 125% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $11.1 billion as of June 30, 2026, compared to $10.9 billion as of March 31, 2026. The increase is due to the purchase of $462 million of investment securities, which offset paydowns and a decrease in the fair value of the portfolio. Refer to the Q2 2026 Earnings Presentation for additional details related to our investment securities portfolio and liquidity position.
Gross loans and leases were $47.2 billion as of June 30, 2026, compared to $47.7 billion as of March 31, 2026. The decrease reflects continued expected runoff in below-market-rate transactional loans and lower balances in non-owner occupied commercial real estate given elevated payoffs, due in part to competitive pricing pressure. Commercial loans, inclusive of owner-occupied commercial real estate, increased by 5% on an annualized basis relative to March 31, 2026, partially offsetting contraction in other portfolios. "Our bankers remained focused on relationship-driven activity during the second quarter, generating new business opportunities while continuing to manage the balance sheet with discipline," commented Tory Nixon, President of Columbia Bank. "Commercial relationship growth remained solid, and the continued runoff of lower-return transactional loans is reshaping our balance sheet as intended. Customer engagement remains healthy, and we remain encouraged by the quality of our pipelines and the opportunities we see across our western footprint." Refer to the Q2 2026 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans.
Total deposits were $52.1 billion as of June 30, 2026, compared to $53.5 billion as of March 31, 2026. The decrease reflects intentional reductions in brokered deposits and wholesale public deposits, which declined to $978 million and $928 million, respectively, as of June 30, 2026, compared to $1.6 billion and $1.2 billion, respectively, as of March 31, 2026. Customer deposit contraction in April due to seasonal tax payments also contributed to the decline between periods. "Seasonal factors reduced deposit balances early in the quarter, with balances stabilizing in May and June despite increasing competition," stated Mr. Nixon. "Our teams continue to emphasize relationship banking, serving our customers through advice-driven conversations and tailored solutions, while preserving the strength of our core deposit franchise. Meeting the evolving needs of our customers remains at the center of the value we provide." We utilized borrowings, which were $4.3 billion as of June 30, 2026, compared to $3.4 billion as of March 31, 2026, to supplement funding needs. Refer to the Q2 2026 Earnings Presentation for additional details related to deposit characteristics and flows.
Credit Quality
The allowance for credit losses ("ACL") was $475 million, or 1.01% of loans and leases, as of June 30, 2026, compared to $478 million, or 1.00% of loans and leases, as of March 31, 2026. The provision for credit losses was $27 million for the second quarter of 2026 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.
Net charge-offs were 0.25% of average loans and leases (annualized) for the second quarter of 2026, compared to 0.30% for the first quarter of 2026. Net charge-offs in the FinPac portfolio were $15 million for the second quarter, compared to $14 million for the first quarter. Net charge-offs excluding the FinPac portfolio were $15 million for the second quarter, compared to $21 million for the first quarter. Non-performing assets were $273 million, or 0.42% of total assets, as of June 30, 2026, compared to $264 million, or 0.40% of total assets, as of March 31, 2026. Refer to the Q2 2026 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends.
Capital
Columbia's book value per common share was $26.70 as of June 30, 2026, compared to $26.47 as of March 31, 2026. During the second quarter, Columbia repurchased 6.6 million common shares under its current repurchase plan at an average price of $29.93, representing 2.3% of outstanding common shares. Book value also was impacted by the change in accumulated other comprehensive (loss) income ("AOCI") to $(310) million as of June 30, 2026, compared to $(291) million as of the prior quarter-end. The change in AOCI is due primarily to an increase in the tax-effected net unrealized loss on available-for-sale securities to $275 million as of June 30, 2026, compared to $260 million as of March 31, 2026. Tangible book value per common share3 was $19.22 as of June 30, 2026, compared to $19.03 as of March 31, 2026.
Columbia's estimated total risk-based capital ratio was 13.4% and its estimated common equity tier 1 risk-based capital ratio was 11.6% as of June 30, 2026, compared to 13.5% and 11.7%, respectively, as of March 31, 2026. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of June 30, 2026 are estimates, pending completion and filing of Columbia's regulatory reports.
Earnings Presentation and Conference Call Information
Columbia's Q2 2026 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com.
Columbia will host its second quarter 2026 earnings conference call on July 23, 2026 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its second quarter 2026 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time.
Join the audiocast: https://edge.media-server.com/mmc/p/thdt6a5z/
Register for the call: https://register-conf.media-server.com/register/BIb20bf1c21e7e4dcd93e446da448dd1e9
Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx
About Columbia Banking System, Inc.
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) any revenue synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (ii) deposit attrition as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors.
_________________________
1 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
2 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
3 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.
TABLE INDEX
Page
Consolidated Statements of Income
7
Consolidated Balance Sheets
8
Financial Highlights
10
Loan & Lease Portfolio Balances and Mix
11
Deposit Portfolio Balances and Mix
13
Credit Quality - Non-performing Assets
14
Credit Quality - Allowance for Credit Losses
15
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
17
Residential Mortgage Banking Activity
19
GAAP to Non-GAAP Reconciliation
21
Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
Quarter Ended
% Change
($ in millions, shares in thousands)
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Jun 30,
2025
Seq.
Quarter
Year
over
Year
Interest income:
Loans and leases
$ 683
$ 684
$ 722
$ 619
$ 564
— %
21 %
Interest and dividends on investments:
Taxable
98
103
102
89
80
(5) %
23 %
Exempt from federal income tax
12
12
12
8
7
— %
71 %
Dividends
4
3
3
4
3
33 %
33 %
Temporary investments and interest bearing deposits
13
14
19
20
16
(7) %
(19) %
Total interest income
810
816
858
740
670
(1) %
21 %
Interest expense:
Deposits
173
184
195
195
180
(6) %
(4) %
Securities sold under agreement to repurchase and
federal funds purchased
1
1
1
1
1
— %
— %
Borrowings
39
30
27
30
35
30 %
11 %
Junior and other subordinated debentures
8
7
8
9
8
14 %
— %
Total interest expense
221
222
231
235
224
— %
(1) %
Net interest income
589
594
627
505
446
(1) %
32 %
Provision for credit losses
27
28
23
70
30
(4) %
(10) %
Non-interest income:
Service charges on deposits
23
20
24
21
20
15 %
15 %
Card-based fees
17
15
16
15
14
13 %
21 %
Financial services and trust revenue
15
15
15
9
6
— %
150 %
Residential mortgage banking revenue, net
7
12
7
7
8
(42) %
(13) %
(Loss) gain on investment securities, net
(1)
—
2
2
—
nm
nm
Gain on loan and lease sales, net
—
1
1
—
—
(100) %
nm
(Loss) gain on loans held for investment, at fair value
(1)
(2)
—
4
—
(50) %
nm
BOLI income
9
9
9
6
5
— %
80 %
Other income
19
13
16
13
12
46 %
58 %
Total non-interest income
88
83
90
77
65
6 %
35 %
Non-interest expense:
Salaries and employee benefits
196
196
201
171
155
— %
26 %
Occupancy and equipment, net
65
66
67
54
47
(2) %
38 %
FDIC assessments
9
9
4
8
8
— %
13 %
Intangible amortization
38
41
42
31
26
(7) %
46 %
Merger and restructuring expense
9
24
39
87
8
(63) %
13 %
Other expenses
58
58
59
42
34
— %
71 %
Total non-interest expense
375
394
412
393
278
(5) %
35 %
Income before provision for income taxes
275
255
282
119
203
8 %
35 %
Provision for income taxes
67
63
67
23
51
6 %
31 %
Net income
$ 208
$ 192
$ 215
$ 96
$ 152
8 %
37 %
Weighted average basic shares outstanding (in
thousands)
285,558
290,933
295,376
237,838
209,125
(2) %
37 %
Weighted average diluted shares outstanding (in
thousands)
286,472
292,160
296,760
238,925
209,975
(2) %
36 %
Earnings per common share – basic
$ 0.73
$ 0.66
$ 0.72
$ 0.40
$ 0.73
11 %
— %
Earnings per common share – diluted
$ 0.73
$ 0.66
$ 0.72
$ 0.40
$ 0.73
11 %
— %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
Six Months Ended
% Change
($ in millions, shares in thousands)
Jun 30, 2026
Jun 30, 2025
Year over
Year
Interest income:
Loans and leases
$ 1,367
$ 1,117
22 %
Interest and dividends on investments:
Taxable
201
149
35 %
Exempt from federal income tax
24
14
71 %
Dividends
7
6
17 %
Temporary investments and interest bearing deposits
27
32
(16) %
Total interest income
1,626
1,318
23 %
Interest expense:
Deposits
357
357
0 %
Securities sold under agreement to repurchase and federal funds purchased
2
2
0 %
Borrowings
69
71
(3) %
Junior and other subordinated debentures
15
17
(12) %
Total interest expense
443
447
(1) %
Net interest income
1,183
871
36 %
Provision for credit losses
55
57
(4) %
Non-interest income:
Service charges on deposits
43
39
10 %
Card-based fees
32
27
19 %
Financial services and trust revenue
30
11
173 %
Residential mortgage banking revenue, net
19
17
12 %
(Loss) gain on investment securities, net
(1)
2
(150) %
Gain on loan and lease sales, net
1
—
nm
(Loss) gain on loans held for investment, at fair value
(3)
7
(143) %
BOLI income
18
10
80 %
Other income
32
18
78 %
Total non-interest income
171
131
31 %
Non-interest expense:
Salaries and employee benefits
392
300
31 %
Occupancy and equipment, net
131
95
38 %
FDIC assessments
18
16
13 %
Intangible amortization
79
54
46 %
Merger and restructuring expense
33
23
43 %
Legal settlement
—
55
(100) %
Other expenses
116
75
55 %
Total non-interest expense
769
618
24 %
Income before provision for income taxes
530
327
62 %
Provision for income taxes
130
88
48 %
Net income
$ 400
$ 239
67 %
Weighted average basic shares outstanding (in thousands)
288,130
208,964
38 %
Weighted average diluted shares outstanding (in thousands)
289,212
209,965
38 %
Earnings per common share – basic
$ 1.39
$ 1.14
22 %
Earnings per common share – diluted
$ 1.38
$ 1.14
21 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Balance Sheets
(Unaudited)
% Change
($ in millions, shares in thousands)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Seq.
Quarter
Year
over
Year
Assets:
Cash and due from banks
$ 648
$ 577
$ 511
$ 535
$ 608
12 %
7 %
Interest-bearing cash and temporary
investments
1,121
1,522
1,869
1,808
1,334
(26) %
(16) %
Investment securities:
Equity and other, at fair value
126
124
113
112
93
2 %
35 %
Available for sale, at fair value
11,131
10,915
11,112
11,013
8,653
2 %
29 %
Held to maturity, at amortized cost
17
18
18
18
2
(6) %
nm
Loans held for sale
61
81
262
340
66
(25) %
(8) %
Loans and leases
47,166
47,697
47,776
48,462
37,637
(1) %
25 %
Allowance for credit losses on loans and
leases
(458)
(459)
(466)
(473)
(421)
— %
9 %
Net loans and leases
46,708
47,238
47,310
47,989
37,216
(1) %
26 %
Restricted equity securities
207
168
159
119
161
23 %
29 %
Premises and equipment, net
424
426
422
416
357
— %
19 %
Goodwill
1,482
1,482
1,482
1,481
1,029
— %
44 %
Other intangible assets, net
633
671
712
754
430
(6) %
47 %
Bank-owned life insurance
1,227
1,222
1,218
1,199
705
— %
74 %
Other assets
1,595
1,583
1,644
1,712
1,247
1 %
28 %
Total assets
$ 65,380
$ 66,027
$ 66,832
$ 67,496
$ 51,901
(1) %
26 %
Liabilities:
Deposits
Non-interest-bearing
$ 17,218
$ 17,635
$ 17,419
$ 17,810
$ 13,220
(2) %
30 %
Interest-bearing
34,838
35,854
36,792
37,961
28,523
(3) %
22 %
Total deposits
52,056
53,489
54,211
55,771
41,743
(3) %
25 %
Securities sold under agreements to
repurchase
189
162
207
167
191
17 %
(1) %
Borrowings
4,250
3,400
3,200
2,300
3,350
25 %
27 %
Junior subordinated debentures, at fair value
339
333
338
331
323
2 %
5 %
Junior and other subordinated debentures,
at amortized cost
97
97
97
107
108
— %
(10) %
Other liabilities
897
882
939
1,030
844
2 %
6 %
Total liabilities
57,828
58,363
58,992
59,706
46,559
(1) %
24 %
Shareholders' equity:
Common stock
7,702
7,896
8,099
8,189
5,826
(2) %
32 %
Retained earnings (accumulated deficit)
160
59
(26)
(131)
(151)
171 %
nm
Accumulated other comprehensive loss
(310)
(291)
(233)
(268)
(333)
7 %
(7) %
Total shareholders' equity
7,552
7,664
7,840
7,790
5,342
(1) %
41 %
Total liabilities and shareholders' equity
$ 65,380
$ 66,027
$ 66,832
$ 67,496
$ 51,901
(1) %
26 %
Common shares outstanding at period end (in
thousands)
282,817
289,530
295,422
299,147
210,213
(2) %
35 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
Quarter Ended
% Change
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Jun 30,
2025
Seq.
Quarter
Year
over
Year
Per Common Share Data:
Dividends
$ 0.37
$ 0.37
$ 0.37
$ 0.36
$ 0.36
— %
3 %
Book value
$ 26.70
$ 26.47
$ 26.54
$ 26.04
$ 25.41
1 %
5 %
Tangible book value (1)
$ 19.22
$ 19.03
$ 19.11
$ 18.57
$ 18.47
1 %
4 %
Performance Ratios:
Efficiency ratio (2)
55.15 %
58.03 %
57.30 %
67.29 %
54.29 %
(2.88)
0.86
Non-interest expense to average assets (1)
2.29 %
2.41 %
2.44 %
2.74 %
2.16 %
(0.12)
0.13
Return on average assets ("ROAA")
1.27 %
1.18 %
1.27 %
0.67 %
1.19 %
0.09
0.08
Pre-provision net revenue ("PPNR") ROAA (1)
1.85 %
1.73 %
1.80 %
1.32 %
1.81 %
0.12
0.04
Return on average common equity
10.99 %
10.00 %
10.92 %
6.19 %
11.56 %
0.99
(0.57)
Return on average tangible common equity (1)
15.29 %
13.88 %
15.24 %
8.58 %
16.03 %
1.41
(0.74)
Performance Ratios - Operating: (1)
Operating efficiency ratio, as adjusted (1),(2)
52.92 %
53.68 %
51.39 %
52.32 %
51.79 %
(0.76)
1.13
Operating non-interest expense to average assets (1)
2.24 %
2.26 %
2.20 %
2.14 %
2.10 %
(0.02)
0.14
Operating ROAA (1)
1.33 %
1.28 %
1.44 %
1.42 %
1.25 %
0.05
0.08
Operating PPNR ROAA (1)
1.92 %
1.87 %
2.02 %
1.89 %
1.88 %
0.05
0.04
Operating return on average common equity (1)
11.46 %
10.89 %
12.34 %
13.15 %
12.16 %
0.57
(0.70)
Operating return on average tangible common equity (1)
15.95 %
15.11 %
17.22 %
18.24 %
16.85 %
0.84
(0.90)
Average Balance Sheet Yields, Rates, & Ratios:
Yield on loans and leases
5.77 %
5.78 %
5.92 %
5.96 %
6.00 %
(0.01)
(0.23)
Yield on earning assets (2)
5.40 %
5.44 %
5.55 %
5.62 %
5.62 %
(0.04)
(0.22)
Cost of interest bearing deposits
1.96 %
2.04 %
2.08 %
2.43 %
2.52 %
(0.08)
(0.56)
Cost of interest bearing liabilities
2.21 %
2.24 %
2.27 %
2.65 %
2.78 %
(0.03)
(0.57)
Cost of total deposits
1.32 %
1.39 %
1.40 %
1.66 %
1.73 %
(0.07)
(0.41)
Cost of total funding (3)
1.55 %
1.56 %
1.57 %
1.87 %
1.98 %
(0.01)
(0.43)
Net interest margin (2)
3.93 %
3.96 %
4.06 %
3.84 %
3.75 %
(0.03)
0.18
Average interest bearing cash / Average interest earning assets
2.33 %
2.59 %
3.12 %
3.41 %
2.97 %
(0.26)
(0.64)
Average loans and leases / Average interest earning assets
78.67 %
78.44 %
78.12 %
78.39 %
78.64 %
0.23
0.03
Average loans and leases / Average total deposits
90.19 %
88.58 %
87.34 %
88.39 %
90.07 %
1.61
0.12
Average non-interest bearing deposits / Average total deposits
32.90 %
32.26 %
32.45 %
31.41 %
31.39 %
0.64
1.51
Average total deposits / Average total funding (3)
91.88 %
93.58 %
94.52 %
93.47 %
91.92 %
(1.70)
(0.04)
Select Credit & Capital Ratios:
Non-performing loans and leases to total loans and leases
0.57 %
0.55 %
0.41 %
0.40 %
0.47 %
0.02
0.10
Non-performing assets to total assets
0.42 %
0.40 %
0.30 %
0.29 %
0.35 %
0.02
0.07
Allowance for credit losses to loans and leases
1.01 %
1.00 %
1.02 %
1.01 %
1.17 %
0.01
(0.16)
Total risk-based capital ratio (4)
13.4 %
13.5 %
13.6 %
13.4 %
13.0 %
(0.10)
0.40
Common equity tier 1 risk-based capital ratio (4)
11.6 %
11.7 %
11.8 %
11.6 %
10.8 %
(0.10)
0.80
(1) See GAAP to Non-GAAP Reconciliation.
(2) Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.
(3) Total funding = total deposits + total borrowings.
(4) Estimated holding company ratios.
Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
Six Months Ended
% Change
Jun 30, 2026
Jun 30, 2025
Year over Year
Per Common Share Data:
Dividends
$ 0.74
$ 0.72
2.78 %
Performance Ratios:
Efficiency ratio (2)
56.59 %
61.54 %
(4.95)
Non-interest expense to average assets (1)
2.35 %
2.42 %
(0.07)
Return on average assets
1.22 %
0.94 %
0.28
PPNR ROAA (1)
1.79 %
1.50 %
0.29
Return on average common equity
10.49 %
9.18 %
1.31
Return on average tangible common equity (1)
14.58 %
12.80 %
1.78
Performance Ratios - Operating: (1)
Operating efficiency ratio, as adjusted (1),(2)
53.29 %
53.40 %
(0.11)
Operating non-interest expense to average assets (1)
2.25 %
2.11 %
0.14
Operating ROAA (1)
1.30 %
1.17 %
0.13
Operating PPNR ROAA (1)
1.90 %
1.78 %
0.12
Operating return on average common equity (1)
11.17 %
11.52 %
(0.35)
Operating return on average tangible common equity (1)
15.53 %
16.07 %
(0.54)
Average Balance Sheet Yields, Rates, & Ratios:
Yield on loans and leases
5.78 %
5.96 %
(0.18)
Yield on earning assets (2)
5.42 %
5.56 %
(0.14)
Cost of interest bearing deposits
2.00 %
2.52 %
(0.52)
Cost of interest bearing liabilities
2.23 %
2.79 %
(0.56)
Cost of total deposits
1.35 %
1.72 %
(0.37)
Cost of total funding (3)
1.56 %
1.98 %
(0.42)
Net interest margin (2)
3.94 %
3.67 %
0.27
Average interest bearing cash / Average interest earning assets
2.46 %
3.05 %
(0.59)
Average loans and leases / Average interest earning assets
78.55 %
78.78 %
(0.23)
Average loans and leases / Average total deposits
89.38 %
90.21 %
(0.83)
Average non-interest bearing deposits / Average total deposits
32.58 %
31.57 %
1.01
Average total deposits / Average total funding (3)
92.73 %
91.90 %
0.83
(1) See GAAP to Non-GAAP Reconciliation.
(2) Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.
(3) Total funding = Total deposits + Total borrowings.
Columbia Banking System, Inc.
Loan & Lease Portfolio Balances and Mix
(Unaudited)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
% Change
($ in millions)
Amount
Amount
Amount
Amount
Amount
Seq.
Quarter
Year
over
Year
Loans and leases:
Commercial real estate: (1)
Non-owner occupied term
$ 7,584
$ 8,113
$ 8,206
$ 8,444
$ 6,190
(7) %
23 %
Owner occupied term
7,405
7,258
7,314
7,361
5,320
2 %
39 %
Multifamily
10,122
10,173
10,281
10,377
5,735
(1) %
76 %
Construction & development
1,529
1,670
1,707
2,071
2,070
(8) %
(26) %
Residential development
369
373
362
367
286
(1) %
29 %
Commercial:
Term
7,004
6,887
6,713
6,590
5,353
2 %
31 %
Lines of credit & other
3,794
3,804
3,643
3,582
2,951
— %
29 %
Leases & equipment finance
1,617
1,619
1,599
1,614
1,641
— %
(1) %
Residential:
Mortgage
5,402
5,483
5,624
5,722
5,830
(1) %
(7) %
Home equity loans & lines
2,176
2,147
2,149
2,153
2,083
1 %
4 %
Consumer & other
164
170
178
181
178
(4) %
(8) %
Total loans and leases, net of deferred fees
and costs
$ 47,166
$ 47,697
$ 47,776
$ 48,462
$ 37,637
(1) %
25 %
Loans and leases mix:
Commercial real estate: (1)
Non-owner occupied term
16 %
17 %
17 %
18 %
16 %
Owner occupied term
16 %
15 %
15 %
15 %
14 %
Multifamily
22 %
21 %
22 %
21 %
15 %
Construction & development
3 %
4 %
4 %
4 %
6 %
Residential development
1 %
1 %
1 %
1 %
1 %
Commercial:
Term
15 %
15 %
14 %
14 %
14 %
Lines of credit & other
8 %
8 %
8 %
7 %
8 %
Leases & equipment finance
3 %
3 %
3 %
3 %
4 %
Residential:
Mortgage
11 %
11 %
12 %
12 %
15 %
Home equity loans & lines
5 %
5 %
4 %
4 %
6 %
Consumer & other
— %
— %
— %
1 %
1 %
Total
100 %
100 %
100 %
100 %
100 %
(1)
During the three months ended June 30, 2026, the Company aligned the presentation of certain loans with its established loan classification methodology. This resulted in approximately $174 million of loans being reported within different commercial real estate loan categories, primarily multifamily loans, with a corresponding decrease in non-owner occupied term loans.
Columbia Banking System, Inc.
Deposit Portfolio Balances and Mix
(Unaudited)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
% Change
($ in millions)
Amount
Amount
Amount
Amount
Amount
Seq. Quarter
Year
over
Year
Deposits:
Demand, non-interest bearing
$ 17,218
$ 17,635
$ 17,419
$ 17,810
$ 13,220
(2) %
30 %
Demand, interest bearing
11,093
10,860
10,763
11,675
8,335
2 %
33 %
Money market
16,415
16,843
17,013
16,816
11,694
(3) %
40 %
Savings
2,392
2,437
2,442
2,504
2,276
(2) %
5 %
Time
4,938
5,714
6,574
6,966
6,218
(14) %
(21) %
Total
$ 52,056
$ 53,489
$ 54,211
$ 55,771
$ 41,743
(3) %
25 %
Total core deposits (1)
$ 49,488
$ 50,245
$ 50,174
$ 51,535
$ 37,294
(2) %
33 %
Deposit mix:
Demand, non-interest bearing
33 %
33 %
32 %
32 %
32 %
Demand, interest bearing
21 %
20 %
20 %
21 %
20 %
Money market
32 %
31 %
31 %
30 %
28 %
Savings
5 %
5 %
5 %
5 %
5 %
Time
9 %
11 %
12 %
12 %
15 %
Total
100 %
100 %
100 %
100 %
100 %
(1) Core deposits are defined as total deposits less time deposits greater than $250,000 and all brokered deposits.
Columbia Banking System, Inc.
Credit Quality – Non-performing Assets
(Unaudited)
Quarter Ended
% Change
($ in millions)
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Jun 30,
2025
Seq.
Quarter
Year
over
Year
Non-performing assets:(1)
Loans and leases on non-accrual status:
Commercial real estate
$ 96
$ 91
$ 50
$ 53
$ 31
5 %
210 %
Commercial
84
96
66
67
67
(13) %
25 %
Total loans and leases on non-accrual status
180
187
116
120
98
(4) %
84 %
Loans and leases past due 90+ days and accruing: (2)
Commercial real estate
4
3
2
—
—
33 %
nm
Commercial
4
2
8
5
5
100 %
(20) %
Residential (2)
80
69
72
71
74
16 %
8 %
Total loans and leases past due 90+ days and
accruing (2)
88
74
82
76
79
19 %
11 %
Total non-performing loans and leases (1), (2)
268
261
198
196
177
3 %
51 %
Other real estate owned
5
3
2
3
3
67 %
67 %
Total non-performing assets (1), (2)
$ 273
$ 264
$ 200
$ 199
$ 180
3 %
52 %
Loans and leases past due 31-89 days
$ 125
$ 168
$ 94
$ 85
$ 142
(26) %
(12) %
Loans and leases past due 31-89 days to total loans and
leases
0.27 %
0.35 %
0.20 %
0.18 %
0.38 %
(0.08)
(0.11)
Non-performing loans and leases to total loans and
leases (1), (2)
0.57 %
0.55 %
0.41 %
0.40 %
0.47 %
0.02
0.10
Non-performing assets to total assets (1), (2)
0.42 %
0.40 %
0.30 %
0.29 %
0.35 %
0.02
0.07
Non-accrual loans and leases to total loan and leases (2)
0.38 %
0.39 %
0.24 %
0.25 %
0.26 %
(0.01)
0.12
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
(1)
Non-accrual and 90+ days past due loans include government guarantees of $78 million, $88 million, $79 million, $70 million, and $68 million at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.
(2)
Excludes certain mortgage loans that carry a government guarantee, which Columbia has the unilateral right to repurchase but has not done so, totaling $4 million, $4 million, $3 million, $2 million, and $2 million at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025, and June 30, 2025, respectively.
Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
Quarter Ended
% Change
($ in millions)
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Jun 30,
2025
Seq.
Quarter
Year
over
Year
Allowance for credit losses on loans and leases
(ACLLL)
Balance, beginning of period
$ 459
$ 466
$ 473
$ 421
$ 421
(2) %
9 %
Initial ACL recorded for PCD loans acquired during
the period
—
—
—
5
—
nm
nm
Provision for credit losses on loans and leases
29
28
23
69
29
4 %
0 %
Charge-offs
Commercial real estate
(1)
—
(8)
(3)
—
nm
nm
Commercial
(32)
(39)
(23)
(22)
(33)
(18) %
(3) %
Residential
—
—
(1)
—
—
nm
nm
Consumer & other
(2)
(1)
(1)
(2)
(1)
100 %
100 %
Total charge-offs
(35)
(40)
(33)
(27)
(34)
(13) %
3 %
Recoveries
Commercial
4
4
3
4
5
0 %
(20) %
Consumer & other
1
1
—
1
—
0 %
nm
Total recoveries
5
5
3
5
5
0 %
0 %
Net charge-offs
Commercial real estate
(1)
—
(8)
(3)
—
nm
nm
Commercial
(28)
(35)
(20)
(18)
(28)
(20) %
0 %
Residential
—
—
(1)
—
—
nm
nm
Consumer & other
(1)
—
(1)
(1)
(1)
nm
0 %
Total net charge-offs
(30)
(35)
(30)
(22)
(29)
(14) %
3 %
Balance, end of period
$ 458
$ 459
$ 466
$ 473
$ 421
0 %
9 %
Reserve for unfunded commitments
Balance, beginning of period
$ 19
$ 19
$ 19
$ 18
$ 17
0 %
12 %
(Recapture) provision for credit losses on
unfunded commitments
(2)
—
—
1
1
nm
(300) %
Balance, end of period
17
19
19
19
18
(11) %
(6) %
Total Allowance for credit losses (ACL)
$ 475
$ 478
$ 485
$ 492
$ 439
(1) %
8 %
Net charge-offs to average loans and leases
(annualized)
0.25 %
0.30 %
0.25 %
0.22 %
0.31 %
(0.05)
(0.06)
Recoveries to gross charge-offs
14.29 %
12.50 %
9.09 %
18.52 %
15.19 %
1.79
(0.90)
ACLLL to loans and leases
0.97 %
0.96 %
0.98 %
0.98 %
1.12 %
0.01
(0.15)
ACL to loans and leases
1.01 %
1.00 %
1.02 %
1.01 %
1.17 %
0.01
(0.16)
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
Six Months Ended
% Change
($ in millions)
Jun 30, 2026
Jun 30, 2025
Year over Year
Allowance for credit losses on loans and leases (ACLLL)
Balance, beginning of period
$ 466
$ 425
10 %
Provision for credit losses on loans and leases
57
55
4 %
Charge-offs
Commercial real estate
(1)
—
nm
Commercial
(71)
(66)
8 %
Residential
—
(1)
nm
Consumer & other
(3)
(2)
50 %
Total charge-offs
(75)
(69)
9 %
Recoveries
Commercial
8
9
(11) %
Consumer & other
2
1
100 %
Total recoveries
10
10
0 %
Net charge-offs
Commercial real estate
(1)
—
nm
Commercial
(63)
(57)
11 %
Residential
—
(1)
nm
Consumer & other
(1)
(1)
0 %
Total net charge-offs
(65)
(59)
10 %
Balance, end of period
$ 458
$ 421
9 %
Reserve for unfunded commitments
Balance, beginning of period
$ 19
$ 16
19 %
(Recapture) provision for credit losses on unfunded commitments
(2)
2
(200) %
Balance, end of period
17
18
(6) %
Total Allowance for credit losses (ACL)
$ 475
$ 439
8 %
Net charge-offs to average loans and leases (annualized)
0.28 %
0.31 %
(0.03)
Recoveries to gross charge-offs
13.33 %
14.62 %
(1.29)
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
Quarter Ended
June 30, 2026
March 31, 2026
June 30, 2025
($ in millions)
Average
Balance
Interest
Income
or
Expense
Average
Yields
or Rates
Average
Balance
Interest
Income
or
Expense
Average
Yields
or Rates
Average
Balance
Interest
Income
or
Expense
Average
Yields
or Rates
INTEREST-EARNING ASSETS:
Loans held for sale
$ 66
$ —
6.86 %
$ 189
$ 3
5.17 %
$ 67
$ 1
6.66 %
Loans and leases (1)
47,419
683
5.77 %
47,714
681
5.78 %
37,648
563
6.00 %
Taxable securities
10,173
102
3.97 %
10,097
106
4.22 %
7,937
83
4.22 %
Non-taxable securities (2)
1,219
15
4.63 %
1,253
14
4.51 %
798
8
3.95 %
Temporary investments and
interest-bearing cash
1,402
13
3.71 %
1,578
14
3.65 %
1,421
16
4.46 %
Total interest-earning assets (1), (2)
60,279
$ 813
5.40 %
60,831
$ 818
5.44 %
47,871
$ 671
5.62 %
Goodwill and other intangible
assets
2,136
2,175
1,472
Other assets
3,217
3,209
2,209
Total assets
$ 65,632
$ 66,215
$ 51,552
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits
$ 11,002
$ 45
1.65 %
$ 10,780
$ 43
1.60 %
$ 8,480
$ 48
2.28 %
Money market deposits
16,658
87
2.10 %
16,848
88
2.12 %
11,783
72
2.46 %
Savings deposits
2,413
1
0.14 %
2,443
1
0.12 %
2,287
1
0.13 %
Time deposits
5,205
40
3.03 %
6,414
52
3.32 %
6,126
59
3.85 %
Total interest-bearing deposits
35,278
173
1.96 %
36,485
184
2.04 %
28,676
180
2.52 %
Repurchase agreements and
federal funds purchased
163
1
1.65 %
187
1
1.86 %
186
1
2.06 %
Borrowings
4,050
39
3.90 %
3,071
30
3.96 %
3,058
35
4.53 %
Junior and other subordinated
debentures
431
8
7.07 %
435
7
7.03 %
428
8
8.05 %
Total interest-bearing liabilities
39,922
$ 221
2.21 %
40,178
$ 222
2.24 %
32,348
$ 224
2.78 %
Non-interest-bearing deposits
17,301
17,378
13,123
Other liabilities
814
873
794
Total liabilities
58,037
58,429
46,265
Common equity
7,594
7,786
5,287
Total liabilities and shareholders'
equity
$ 65,631
$ 66,215
$ 51,552
NET INTEREST INCOME (2)
$ 592
$ 596
$ 447
NET INTEREST SPREAD (2)
3.19 %
3.20 %
2.84 %
NET INTEREST INCOME TO
EARNING ASSETS OR NET
INTEREST MARGIN (1), (2)
3.93 %
3.96 %
3.75 %
(1)
Non-accrual loans and leases are included in the average balance.
(2)
Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $3 million for the three months ended June 30, 2026, as compared to $2 million for the three months ended March 31, 2026 and $1 million for the three months ended June 30, 2025.
Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
Six Months Ended
June 30, 2026
June 30, 2025
($ in millions)
Average
Balance
Interest
Income
or Expense
Average
Yields
or Rates
Average
Balance
Interest
Income or
Expense
Average
Yields or
Rates
INTEREST-EARNING ASSETS:
Loans held for sale
$ 127
$ 3
5.62 %
$ 63
$ 2
6.49 %
Loans and leases (1)
47,565
1,364
5.78 %
37,663
1,115
5.96 %
Taxable securities
10,135
208
4.09 %
7,815
155
3.97 %
Non-taxable securities (2)
1,236
29
4.57 %
808
16
3.91 %
Temporary investments and interest-bearing cash
1,490
27
3.67 %
1,457
32
4.46 %
Total interest-earning assets (1), (2)
60,553
$ 1,631
5.42 %
47,806
$ 1,320
5.56 %
Goodwill and other intangible assets
2,156
1,487
Other assets
3,213
2,210
Total assets
$ 65,922
$ 51,503
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits
$ 10,892
$ 88
1.63 %
$ 8,426
$ 95
2.27 %
Money market deposits
16,753
175
2.11 %
11,694
141
2.43 %
Savings deposits
2,428
2
0.13 %
2,319
1
0.12 %
Time deposits
5,806
92
3.19 %
6,131
120
3.93 %
Total interest-bearing deposits
35,879
357
2.00 %
28,570
357
2.52 %
Repurchase agreements and federal funds purchased
175
2
1.76 %
201
2
1.94 %
Borrowings
3,563
69
3.93 %
3,048
71
4.67 %
Junior and other subordinated debentures
433
15
7.05 %
433
17
7.99 %
Total interest-bearing liabilities
40,050
$ 443
2.23 %
32,252
$ 447
2.79 %
Non-interest-bearing deposits
17,339
13,180
Other liabilities
844
819
Total liabilities
58,233
46,251
Common equity
7,689
5,252
Total liabilities and shareholders' equity
$ 65,922
$ 51,503
NET INTEREST INCOME (2)
$ 1,188
$ 873
NET INTEREST SPREAD (2)
3.19 %
2.77 %
NET INTEREST INCOME TO EARNING ASSETS OR NET
INTEREST MARGIN (1), (2)
3.94 %
3.67 %
(1)
Non-accrual loans and leases are included in the average balance.
(2)
Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $5 million for the year ended June 30, 2026, as compared to $2 million for the same period in 2025.
Columbia Banking System, Inc.
Residential Mortgage Banking Activity
(Unaudited)
Quarter Ended
%
($ in millions)
Jun 30,
2026
Mar 31,
2026
Dec 31,
2025
Sep 30,
2025
Jun 30,
2025
Seq.
Quarter
Year over
Year
Residential mortgage banking revenue:
Origination and sale
$ 6
$ 5
$ 5
$ 5
$ 5
20 %
20 %
Servicing
5
6
6
5
6
(17) %
(17) %
Change in fair value of MSR asset:
Changes due to collection/realization of
expected cash flows over time
(3)
(3)
(3)
(3)
(3)
— %
— %
Changes due to valuation inputs or
assumptions
1
6
(1)
—
(2)
(83) %
nm
MSR hedge (loss) gain
(2)
(2)
—
—
2
— %
(200) %
Total
$ 7
$ 12
$ 7
$ 7
$ 8
(42) %
(13) %
Closed loan volume for sale
$ 195
$ 171
$ 176
$ 166
$ 164
14 %
19 %
Gain on sale margin
3.08 %
2.92 %
2.84 %
3.01 %
2.77 %
0.16
0.31
Residential mortgage servicing rights:
Balance, beginning of period
$ 105
$ 99
$ 101
$ 103
$ 106
6 %
(1) %
Additions for new MSR capitalized
2
3
2
1
2
(33) %
— %
Change in fair value of MSR asset:
Changes due to collection/realization of
expected cash flows over time
(3)
(3)
(3)
(3)
(3)
— %
— %
Changes due to valuation inputs or
assumptions
1
6
(1)
—
(2)
(83) %
nm
Balance, end of period
$ 105
$ 105
$ 99
$ 101
$ 103
— %
2 %
Residential mortgage loans serviced for others
$ 7,734
$ 7,812
$ 7,755
$ 7,797
$ 7,852
(1) %
(2) %
MSR as % of serviced portfolio
1.36 %
1.34 %
1.28 %
1.30 %
1.31 %
0.02
0.05
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
Residential Mortgage Banking Activity
(Unaudited)
Six Months Ended
% Change
($ in millions)
Jun 30, 2026
Jun 30, 2025
Year over
Year
Residential mortgage banking revenue:
Origination and sale
$ 11
$ 9
22 %
Servicing
11
12
(8) %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(6)
(6)
0 %
Changes due to valuation inputs or assumptions
7
(3)
nm
MSR hedge (loss) gain
(4)
5
(180) %
Total
$ 19
$ 17
12 %
Closed loan volume for sale
$ 366
$ 300
22 %
Gain on sale margin
3.01 %
2.98 %
0.03
Residential mortgage servicing rights:
Balance, beginning of period
$ 99
$ 108
(8) %
Additions for new MSR capitalized
5
4
25 %
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time
(6)
(6)
0 %
Changes due to valuation inputs or assumptions
7
(3)
nm
Balance, end of period
$ 105
$ 103
2 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Non-GAAP Financial Measures
In addition to results presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation
Tangible Capital, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions, except per-share data)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Seq.
Quarter
Year
over
Year
Total shareholders' equity
a
$ 7,552
$ 7,664
$ 7,840
$ 7,790
$ 5,342
(1) %
41 %
Less: Goodwill
1,482
1,482
1,482
1,481
1,029
— %
44 %
Less: Other intangible assets, net
633
671
712
754
430
(6) %
47 %
Tangible common shareholders' equity
b
$ 5,437
$ 5,511
$ 5,646
$ 5,555
$ 3,883
(1) %
40 %
Total assets
c
$ 65,380
$ 66,027
$ 66,832
$ 67,496
$ 51,901
(1) %
26 %
Less: Goodwill
1,482
1,482
1,482
1,481
1,029
— %
44 %
Less: Other intangible assets, net
633
671
712
754
430
(6) %
47 %
Tangible assets
d
$ 63,265
$ 63,874
$ 64,638
$ 65,261
$ 50,442
(1) %
25 %
Common shares outstanding at period end (in
thousands)
e
282,817
289,530
295,422
299,147
210,213
(2) %
35 %
Total shareholders' equity to total assets ratio
a / c
11.55 %
11.61 %
11.73 %
11.54 %
10.29 %
(0.06)
1.26
Tangible common equity to tangible assets ratio
b / d
8.59 %
8.63 %
8.73 %
8.51 %
7.70 %
(0.04)
0.89
Book value per common share
a / e
$ 26.70
$ 26.47
$ 26.54
$ 26.04
$ 25.41
1 %
5 %
Tangible book value per common share
b / e
$ 19.22
$ 19.03
$ 19.11
$ 18.57
$ 18.47
1 %
4 %
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Income Statements, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Seq.
Quarter
Year
over
Year
Non-Interest Income Adjustments
(Loss) gain on investment securities, net
$ (1)
$ —
$ 2
$ 2
$ —
nm
nm
Gain (loss) on swap derivatives
—
—
1
(1)
(1)
nm
nm
(Loss) gain on loans held for investment, at
fair value
(1)
(2)
—
4
—
(50) %
nm
Change in fair value of MSR due to valuation
inputs or assumptions
1
6
(1)
—
(2)
(83) %
nm
MSR hedge (loss) gain
(2)
(2)
—
—
2
— %
(200) %
Total non-interest income adjustments
a
$ (3)
$ 2
$ 2
$ 5
$ (1)
(250) %
200 %
Non-Interest Expense Adjustments
Merger and restructuring expense
$ 9
$ 24
$ 39
$ 87
$ 8
(63) %
13 %
Exit and disposal costs
—
1
1
—
—
(100) %
nm
FDIC special assessment
—
—
(5)
(1)
—
nm
nm
Legal settlement and other non-operating
expense
—
—
4
—
—
nm
nm
Total non-interest expense adjustments
b
$ 9
$ 25
$ 39
$ 86
$ 8
(64) %
13 %
Net interest income
c
$ 589
$ 594
$ 627
$ 505
$ 446
(1) %
32 %
Non-interest income (GAAP)
d
$ 88
$ 83
$ 90
$ 77
$ 65
6 %
35 %
Less: Non-interest income adjustments
a
3
(2)
(2)
(5)
1
nm
200 %
Operating non-interest income (non-GAAP)
e
$ 91
$ 81
$ 88
$ 72
$ 66
12 %
38 %
Revenue (GAAP)
f=c+d
$ 677
$ 677
$ 717
$ 582
$ 511
— %
32 %
Operating revenue (non-GAAP)
g=c+e
$ 680
$ 675
$ 715
$ 577
$ 512
1 %
33 %
Non-interest expense (GAAP)
h
$ 375
$ 394
$ 412
$ 393
$ 278
(5) %
35 %
Less: Non-interest expense adjustments
b
(9)
(25)
(39)
(86)
(8)
(64) %
13 %
Operating non-interest expense (non-GAAP)
i
$ 366
$ 369
$ 373
$ 307
$ 270
(1) %
36 %
Net income (GAAP)
j
$ 208
$ 192
$ 215
$ 96
$ 152
8 %
37 %
Provision for income taxes
67
63
67
23
51
6 %
31 %
Income before provision for income taxes
275
255
282
119
203
8 %
35 %
Provision for credit losses
27
28
23
70
30
(4) %
(10) %
Pre-provision net revenue (PPNR) (non-
GAAP)
k
302
283
305
189
233
7 %
30 %
Less: Non-interest income adjustments
a
3
(2)
(2)
(5)
1
nm
200 %
Add: Non-interest expense adjustments
b
9
25
39
86
8
(64) %
13 %
Operating PPNR (non-GAAP)
l
$ 314
$ 306
$ 342
$ 270
$ 242
3 %
30 %
Net income (GAAP)
j
$ 208
$ 192
$ 215
$ 96
$ 152
8 %
37 %
Acquisition-related provision expense
—
—
—
70
—
nm
nm
Less: Non-interest income adjustments
a
3
(2)
(2)
(5)
1
nm
200 %
Add: Non-interest expense adjustments
b
9
25
39
86
8
(64) %
13 %
Tax effect of adjustments
(3)
(6)
(9)
(43)
(1)
(50) %
200 %
Operating net income (non-GAAP)
m
$ 217
$ 209
$ 243
$ 204
$ 160
4 %
36 %
nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."
Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Average Balances, Earnings Per Share, and Performance Metrics, as adjusted
(Unaudited)
Quarter Ended
% Change
($ in millions, shares in thousands)
Jun 30, 2026
Mar 31, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Seq.
Quarter
Year
over
Year
Average assets
n
$ 65,632
$ 66,215
$ 67,114
$ 56,823
$ 51,552
(1) %
27 %
Less: Average goodwill and other intangible
assets, net
2,136
2,175
2,217
1,719
1,472
(2) %
45 %
Average tangible assets
o
$ 63,496
$ 64,040
$ 64,897
$ 55,104
$ 50,080
(1) %
27 %
Average common shareholders' equity
p
$ 7,594
$ 7,786
$ 7,814
$ 6,157
$ 5,287
(2) %
44 %
Less: Average goodwill and other intangible
assets, net
2,136
2,175
2,217
1,719
1,472
(2) %
45 %
Average tangible common equity
q
$ 5,458
$ 5,611
$ 5,597
$ 4,438
$ 3,815
(3) %
43 %
Weighted average basic shares outstanding
(in thousands)
r
285,558
290,933
295,376
237,838
209,125
(2) %
37 %
Weighted average diluted shares
outstanding (in thousands)
s
286,472
292,160
296,760
238,925
209,975
(2) %
36 %
Select Per-Share & Performance Metrics
Earnings per share - basic
j / r
$ 0.73
$ 0.66
$ 0.72
$ 0.40
$ 0.73
11 %
— %
Earnings per share - diluted
j / s
$ 0.73
$ 0.66
$ 0.72
$ 0.40
$ 0.73
11 %
— %
Efficiency ratio (1)
h / f
55.15 %
58.03 %
57.30 %
67.29 %
54.29 %
(2.88)
0.86
Non-interest expense to average assets
h / n
2.29 %
2.41 %
2.44 %
2.74 %
2.16 %
(0.12)
0.13
Return on average assets
j / n
1.27 %
1.18 %
1.27 %
0.67 %
1.19 %
0.09
0.08
Return on average tangible assets
j / o
1.31 %
1.22 %
1.31 %
0.69 %
1.22 %
0.09
0.09
PPNR return on average assets
k / n
1.85 %
1.73 %
1.80 %
1.32 %
1.81 %
0.12
0.04
Return on average common equity
j / p
10.99 %
10.00 %
10.92 %
6.19 %
11.56 %
0.99
(0.57)
Return on average tangible common equity
j / q
15.29 %
13.88 %
15.24 %
8.58 %
16.03 %
1.41
(0.74)
Operating Per-Share & Performance Metrics
Operating earnings per share - basic
m / r
$ 0.76
$ 0.72
$ 0.82
$ 0.86
$ 0.77
6 %
(1) %
Operating earnings per share - diluted
m / s
$ 0.76
$ 0.72
$ 0.82
$ 0.85
$ 0.76
6 %
— %
Operating efficiency ratio, as adjusted (1)
u / y
52.92 %
53.68 %
51.39 %
52.32 %
51.79 %
(0.76)
1.13
Operating non-interest expense to average assets
i / n
2.24 %
2.26 %
2.20 %
2.14 %
2.10 %
(0.02)
0.14
Operating return on average assets
m / n
1.33 %
1.28 %
1.44 %
1.42 %
1.25 %
0.05
0.08
Operating return on average tangible assets
m / o
1.37 %
1.32 %
1.49 %
1.47 %
1.28 %
0.05
0.09
Operating PPNR return on average assets
l / n
1.92 %
1.87 %
2.02 %
1.89 %
1.88 %
0.05
0.04
Operating return on average common equity
m / p
11.46 %
10.89 %
12.34 %
13.15 %
12.16 %
0.57
(0.70)
Operating return on average tangible common equity
m / q
15.95 %
15.11 %
17.22 %
18.24 %
16.85 %
0.84
(0.90)
(1) Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.
Analysts on Wall Street project that Columbia Banking (COLB - Free Report) will announce quarterly earnings of $0.73 per share in its forthcoming report, representing a decline of 4% year over year. Revenues are projected to reach $688.41 million, increasing 34.7% from the same quarter last year.
The consensus EPS estimate for the quarter has been revised 1.9% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some Columbia Banking metrics that Wall Street analysts commonly model and monitor.
The consensus among analysts is that 'Average Balance - Total interest-earning assets' will reach $60.69 billion. Compared to the present estimate, the company reported $47.87 billion in the same quarter last year.
The combined assessment of analysts suggests that 'Efficiency Ratio' will likely reach 52.8%. Compared to the present estimate, the company reported 54.3% in the same quarter last year.
The consensus estimate for 'Net Interest Margin' stands at 4.0%. Compared to the present estimate, the company reported 3.8% in the same quarter last year.
Analysts' assessment points toward 'Total non-performing loans and leases' reaching $267.74 million. Compared to the current estimate, the company reported $177.43 million in the same quarter of the previous year.
It is projected by analysts that the 'Total non-performing assets' will reach $270.77 million. The estimate compares to the year-ago value of $180.25 million.
Analysts expect 'Net Interest Income' to come in at $603.86 million. The estimate is in contrast to the year-ago figure of $446.45 million.
Analysts predict that the 'Total noninterest income' will reach $83.68 million. The estimate is in contrast to the year-ago figure of $64.46 million.
The collective assessment of analysts points to an estimated 'Service charges on deposits' of $20.35 million. The estimate compares to the year-ago value of $19.67 million.
Based on the collective assessment of analysts, 'Net interest income (FTE)' should arrive at $605.01 million. The estimate is in contrast to the year-ago figure of $447.55 million.
The average prediction of analysts places 'Financial services and trust revenue' at $15.11 million. Compared to the present estimate, the company reported $5.84 million in the same quarter last year.
View all Key Company Metrics for Columbia Banking here>>>
Columbia Banking shares have witnessed a change of +5.1% in the past month, in contrast to the Zacks S&P 500 composite's +0.3% move. With a Zacks Rank #4 (Sell), COLB is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Wall Street expects a year-over-year decline in earnings on higher revenues when Columbia Banking (COLB - Free Report) reports results for the quarter ended June 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.
The earnings report, which is expected to be released on July 23, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower.
While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.
Zacks Consensus EstimateThis bank holding company is expected to post quarterly earnings of $0.73 per share in its upcoming report, which represents a year-over-year change of -4%.
Revenues are expected to be $688.41 million, up 34.7% from the year-ago quarter.
Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 1.88% lower over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.
Investors should keep in mind that the direction of estimate revisions by each of the covering analysts may not always get reflected in the aggregate change.
Price, Consensus and EPS Surprise
Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).
The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.
Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.
A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.
Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).
How Have the Numbers Shaped Up for Columbia Banking?For Columbia Banking, the Most Accurate Estimate is lower than the Zacks Consensus Estimate, suggesting that analysts have recently become bearish on the company's earnings prospects. This has resulted in an Earnings ESP of -1.10%.
On the other hand, the stock currently carries a Zacks Rank of #4.
So, this combination makes it difficult to conclusively predict that Columbia Banking will beat the consensus EPS estimate.
Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.
For the last reported quarter, it was expected that Columbia Banking would post earnings of $0.68 per share when it actually produced earnings of $0.72, delivering a surprise of +5.88%.
Over the last four quarters, the company has beaten consensus EPS estimates four times.
Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.
That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
Columbia Banking doesn't appear a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.
An Industry Player's Expected ResultsPreferred Bank (PFBC - Free Report) , another stock in the Zacks Banks - West industry, is expected to report earnings per share of $2.65 for the quarter ended June 2026. This estimate points to a year-over-year change of +5.2%. Revenues for the quarter are expected to be $73.73 million, up 4.4% from the year-ago quarter.
The consensus EPS estimate for Preferred Bank has remained unchanged over the last 30 days. However, a lower Most Accurate Estimate has resulted in an Earnings ESP of -0.08%.
This Earnings ESP, combined with its Zacks Rank #2 (Buy), makes it difficult to conclusively predict that Preferred Bank will beat the consensus EPS estimate. The company beat consensus EPS estimates in each of the trailing four quarters.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Bank launches veteran medical debt relief initiative in celebration of America's 250th anniversary
, /PRNewswire/ -- Columbia Bank, a subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB), today announced its partnership with public benefit corporation ForgiveCo to eliminate $5 million in medical debt for veterans and their families. The initiative headlines Columbia Bank's commemoration this summer of America's 250th anniversary across its western footprint.
In partnership with ForgiveCo, Columbia Bank will eliminate medical debt for over 2,000 veterans and their families across Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. Those earning up to 80% of area median income with qualifying debt currently in collections will be randomly selected and notified by ForgiveCo, with no application required.
In addition to medical debt relief, recipients will have access to complimentary services that include counseling, guidance and educational resources to support long-term financial stability.
"Few priorities are more important than ensuring veterans and their families have access to economic opportunity," said Clint Stein, CEO of Columbia Bank. "As we celebrate America's 250th anniversary, we are proud to support those who have served our country and to help strengthen their financial futures."
Medical debt remains a significant barrier to financial well-being, often limiting access to credit, housing and employment opportunities. Since 2021, ForgiveCo has erased millions of dollars in debt nationwide by purchasing large portfolios of delinquent medical debt at a fraction of the original value and partnering with organizations to fund relief efforts.
"Medical debt can create lasting financial challenges for veterans, particularly during major life transitions such as returning to civilian life," said Craig Antico, CEO of ForgiveCo. "Many of the individuals we reach are carrying debts in collections that negatively impact their credit and limit their opportunities. Eliminating even a single debt can make a profound difference."
Celebrating America's 250th Anniversary
From June 1 through July 31, Columbia Bank is commemorating the 250th anniversary of the United States through a series of initiatives designed to support active-duty service members, veterans and organizations that serve them, including:
Medical Debt Relief
Columbia Bank is partnering with ForgiveCo to eliminate $5 million in medical debt for active-duty service members, veterans and their families. $100,000 in Nonprofit Grants
Through a series of activities, Columbia Bank customers and associates will select four nonprofits supporting active-duty service members and veterans to receive $25,000 grants each. NASCAR Active-Duty and Veteran-Owned Business VIP Experience
In partnership with Joe Gibbs Racing, McAnally-Hilgemann Racing and the Navy SEAL Foundation, Columbia Bank recently hosted a VIP experience for veteran and active-duty business owners from across its footprint. For more information, visit ColumbiaBank.com/Veterans.
About Columbia Bank
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.
About ForgiveCo
ForgiveCo is a public benefit corporation that provides business advisory services to corporations, non-profits, and brands for the acquisition, administration, and cancellation of consumer debt, and advisory services in the fields of branding, goodwill creation, and bulk debt management – Transforming debt into goodwill™. To learn more about ForgiveCo, please visit forgiveco.com and follow ForgiveCo on all major social media channels.
, /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB), parent company of Columbia Bank, today announced it will release second quarter 2026 financial results on Thursday, July 23, 2026, after market close. The Company will host a conference call for investors and analysts at 2:00 p.m. PT (5:00 p.m. ET) that same day. During the call, management will discuss Columbia's second quarter 2026 financial results and provide an update on recent activities. There will be a live question-and-answer session following the presentation. Participants may register for the call using the link below to receive dial-in details and their own unique PINs or register for the listen-only audiocast. It is recommended you join 10 minutes prior to the start time.
Join the audiocast: https://edge.media-server.com/mmc/p/thdt6a5z
Register for the call:
https://register-conf.media-server.com/register/BIb20bf1c21e7e4dcd93e446da448dd1e9
Access the replay through the Company's investor relations page under the "News & Market Data-Event Calendar" section: https://www.columbiabankingsystem.com
About Columbia
Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning western U.S. regional bank. Columbia Bank is the largest bank headquartered in the Northwest and one of the largest banks headquartered in the West with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.
Note Regarding Forward Looking Statements
This news release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which can be identified by words such as "may," "expected," "anticipate," "continue," or other comparable words. In addition, all statements other than statements of historical facts that address activities that Columbia expects or anticipates will or may occur in the future are forward-looking statements. Readers are encouraged to read the SEC reports of Columbia, particularly its Annual Report on Form 10-K for the Fiscal Year ended December 31, 2025, for meaningful cautionary language discussing why actual results may vary materially from those anticipated by management.
Rising expectations for increased productivity, profitability and growth opportunities
tempered by near-term uncertainty and volatility
12-month outlook: 63% will prioritize investments over cost-cutting 6-month pause: 59% will monitor conditions for now before major decisions Comprehensive nationwide study surveyed nearly 1,200 businesses on their economic outlook, growth and hiring plans, AI impacts, tariff implications and fraud concerns
, /PRNewswire/ -- Columbia Bank today released the findings from its 2026 Business Barometer, an annual study examining the outlook, priorities and decision-making of nearly 1,200 small and middle market enterprises across the United States.
This year's results point to growing confidence among business leaders that efficiency and productivity gains over the next 12 months will translate to increased profitability and greater opportunities to invest in technology, expansion and hiring between now and the middle of 2027.
2026 COLUMBIA BANK BUSINESS BAROMETER: U.S. Small and Midsize Businesses Poised for Growth, Waiting to Make Significant Moves. Fueled by a notable year-over-year improvement in the outlook of smaller enterprises, a record number of both small and middle market businesses say they are prioritizing making investments over cutting costs. However, their optimism remains measured. While businesses are confident in their 12-month outlook, 3 in 5 indicate they plan to delay major decisions for at least six months as they monitor current pressures from tariffs, inflation and rising energy costs.
"This year's study indicates that small and middle market businesses are approaching the next 12 months with relative confidence and an appetite for growth, which bodes well for the broader economy," said Tory Nixon, President of Columbia Bank. "At the same time, near-term volatility and current headwinds are real. Business leaders are ready to invest but are timing those decisions carefully."
Notable findings from Columbia Bank's 2026 Business Barometer include the following:
Advances in AI Capabilities Are Shaping Expectations for Future Growth
The survey and focus groups conducted as part of this year's study indicate that recent advances in AI capabilities are in part driving the positive 12-month outlook, even as businesses navigate economic uncertainty and cashflow constraints.
Over the next 12 months, most businesses believe AI advances will:
Increase (significantly/somewhat) productivity (96%) Increase employee satisfaction and retention (92%) Create the need for more skilled or specialized roles (89%) Deliver efficiencies so employees can focus on higher-level tasks and will increase headcount as business grows (63%) Strengthen their business overall (59%) AI is now the top investment priority and spiked significantly as a concern for both small and middle market businesses, indicating more enterprises see its fast-emerging capabilities as critical to remain competitive. One in 10 businesses believes AI advances pose a threat to their viability.
12-Month Outlook: Businesses of All Sizes Prioritize Investments over Cost-Cutting
This year's survey indicates strong and almost equal appetite from both small and middle market businesses to invest in strategic priorities that promote efficiency, growth and strengthen their competitive edge. Notwithstanding potential delays on significant investment decisions, the numbers below represent the strongest 12-month investment trajectory since the study began in 2019.
Businesses eye strong performance over the next 12 months:
72% anticipate increased demand 67% anticipate increased revenue 59% anticipate increased profitability As a result, many are also preparing to invest in their business:
89% are likely (very/somewhat) to invest in digitizing new areas 70% are likely to borrow to invest in expansion 62% are likely to increase real estate footprint 51% anticipate increasing the number of employees 36% are likely to acquire another business Cybersecurity and Fraud Threats Prove Costly, Drive Investment Priorities
More businesses are stepping up efforts to protect their operations as fraud risks evolve and exposures increase with scale. From sophisticated cyberattacks to routine check fraud, businesses are paying the price. In the past 12 months, 7 in 10 have experienced financial loss from fraud, with fake vendor scams and phishing attacks cited as the most common schemes.
43% of small businesses report losses between $5,000 and $100,000, including 23% with losses exceeding $10,000 22% of middle market companies report losses in excess of $50,000 Cybersecurity ranks as a top three investment priority, and businesses of all sizes are planning to invest in related fraud safeguards.
44% will upgrade payment or authentication technology 42% will work with their bank to implement fraud protection solutions, such as positive pay, payee positive pay and ACH positive pay 41% will implement stricter vendor verification processes "While cybersecurity and fraud prevention are investment priorities for businesses, our research indicates that half or fewer have implemented many of the most common fraud prevention tools such as stronger authentication safeguards and eliminating physical checks from their payment processes," said Kathryn Albright, Head of Global Payments and Deposits at Columbia Bank. "As companies prepare to invest in growth, it's imperative they also invest in protecting their operations, strengthening payment systems and enhancing their ability to manage increasingly complex fraud risks."
The Biggest Tariff Impact: Implementation Volatility, Not Price Tag
While negative tariff impacts skew towards middle market companies with larger operations, input from leaders in both segments indicates that the unpredictability of tariff implementation has been more challenging than direct tariff costs. Delays, exemptions and shifting percentage amounts have made planning difficult. To manage actual tariff-related costs, businesses have employed numerous strategies. Small businesses are more likely than the middle market to pass increases on to customers, while middle market companies are more likely to cover costs with loans or lines of credit and to delay investments and hiring decisions.
67% of small businesses say tariffs either had no impact (36%) or benefited (31%) them 48% of middle market companies say tariffs have been harmful 85% of businesses expect tariff volatility to remain a significant factor for at least one year, while 40% say three or more years 74% of all businesses that have paid tariffs will seek a refund To download Columbia Bank's 2026 Business Barometer, visit: columbiabank.com/business-barometer
Survey Methodology
The Columbia Bank 2026 Business Barometer, conducted annually, surveyed 1,186 owners, executives and financial decision-makers from U.S. small and middle market businesses. The online survey was conducted in partnership with DHM Research, a public policy and business research firm, and targeted leaders at companies with $500,000 to $500 million in annual revenue. The survey, which did not filter for Columbia Bank customers, has a 2.7% margin of error and was fielded from April 28 to May 7, 2026.
About Columbia Bank
Columbia Bank is an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. It combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Columbia Bank is the principal subsidiary of Columbia Banking System, Inc. (Nasdaq: COLB). Learn more at columbiabank.com and columbiabankingsystem.com.
Key Takeaways Columbia Banking raised its dividend 2.8% to 37 cents per share in November 2025, offering a 5% yield.COLB authorized $700M in buybacks, with plans to repurchase $150M-$200M quarterly in 2026.Columbia Banking trades at 9.35X forward P/E, below industry, amid expense and credit pressures. Columbia Banking System (COLB - Free Report) has leaned into shareholder returns while it works through the Pacific Premier integration. The story for income investors is a mix of a higher dividend, a sizable repurchase authorization, and capital ratios that sit above management’s long-term targets.
At the same time, near-term expense pressure and uneven credit costs remain part of the setup. That puts more weight on payout durability, buyback pacing, and what valuation is really offering today.
COLB’s Dividend Level and the Recent IncreaseIn November 2025, Columbia Banking increased its quarterly dividend 2.8% to 37 cents per share, signaling confidence in capital generation even with integration work still underway.
In the past five years, COLB has increased its dividends three time. It has five year annualized dividend growth rate of 6.51% with a payout ratio of 48%. Currently, COLB carries a dividend yield of 5%, well above several industry peers. For context, East West Bancorp (EWBC - Free Report) and WaFd, Inc. (WAFD - Free Report) both carry meaningfully lower dividend yields in that same comparison set. East West Bancorp has dividend yield of 2.7% while WaFd has a dividend yield of 3.1%.
Columbia Banking System, Inc. Dividend Yield (TTM)
Columbia Banking’s Capital Ratios and Repurchase PlanCOLB capital levels improved meaningfully over the past year. As of Dec. 31, 2025, the common equity Tier 1 (CET1) risk-based capital ratio rose to 11.8%, while the total risk-based capital ratio increased to 13.6%.
Columbia Banking’s board authorized up to $700 million in share repurchases through Nov. 30, 2026. That is a large pool of potential demand for the stock, and it pairs naturally with the dividend for total shareholder yield.
Activity already showed up in fourth-quarter 2025. The company repurchased 3.7 million common shares at an average price of $27.07. Management expects to raise the pace in 2026 to $150-$200 million per quarter, with $600 million remaining under the current authorization.
Columbia Banking’s Earnings Power Behind Payout SupportCapital returns ultimately depend on operating performance, and fourth-quarter 2025 results provided support. Operating earnings were 82 per share, topping the Zacks Consensus Estimate.
Revenue drivers were constructive. Net interest income rose 43% year over year to $627 million, while non-interest income increased to $90 million, helped by stronger service charges and higher financial services and trust revenue. Net interest margin expanded to 4.06% as funding costs declined.
Looking forward, management’s posture is explicitly defensive on margin as rates drift down. The bank expects deposit betas for cuts around half and anticipates net interest margin to trend higher through 2026, with the margin ultimately surpassing 4% again in the second or third quarter of 2026. That earnings stability is a key pillar behind the dividend and the planned buyback ramp.
Columbia Banking’s Valuation & Price Performance AnalysisOn forward earnings, Columbia Banking trades at 9.35X forward 12-month price-to-earnings (P/E). That is below the industry at 10.47X. Its peers, East West Bancorp and WaFd trades at P/E multiple of 11.28X and 11.27X.
Price-to-Earnings F12M
Image Source: Zacks Investment Research
Over the past year, shares of Columbia Banking have gained 34.3%, outperforming the industry’s rally of 31.3%.
Price Performance
Image Source: Zacks Investment Research
Decision Framework for COLB Income InvestorsA practical way to frame COLB is as a dividend-and-capital-return story with execution risk. Start with the yield and payout cadence: the quarterly dividend is 37 cents per share, and the company has shown willingness to raise it while continuing regular declarations.
Next, weigh buyback capacity against the timeline for expense normalization. The repurchase authorization runs through Nov. 30, 2026, with $600 million still available and an intended step-up in 2026 pacing. The offset is that operating expenses are expected to remain elevated near term, with a more normalized run rate targeted by the third quarter of 2026.
Finally, match the setup to your style. COLB has a Zacks Rank #3 (Hold) and Style Scores of Value B, Growth D, and Momentum C. A dividend-oriented investor may appreciate the Value tilt and capital return levers, while also monitoring credit trends and competitive deposit pressures. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking beyond Wall Street's top-and-bottom-line estimate forecasts for Columbia Banking (COLB), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended March 2026.
TACOMA, Wash., April 22, 2026 /PRNewswire/ -- Columbia Bank, a subsidiary of Columbia Banking System (Nasdaq: COLB), today announced it has been recognized by Crisil Coalition Greenwich with two regional Best Bank Awards for excellence in middle market banking.
TACOMA, Wash., April 23, 2026 /PRNewswire/ -- $192 million $209 million $0.66 $0.72 Net income Operating net income1 Earnings per common share - diluted Operating earnings per common share - diluted1 CEO Commentary "Our first quarter results reflect continued execution against the priorities we have previously outlined: delivering sustainable performance, strengthening our balance sheet, and returning excess capital to shareholders," said Clint Stein, Chair, CEO & President.
Columbia Banking (COLB - Free Report) came out with quarterly earnings of $0.72 per share, beating the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +5.88%. A quarter ago, it was expected that this bank holding company would post earnings of $0.72 per share when it actually produced earnings of $0.82, delivering a surprise of +13.89%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Columbia Banking, which belongs to the Zacks Banks - West industry, posted revenues of $677 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 0.44%. This compares to year-ago revenues of $491.37 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Columbia Banking shares have added about 3.8% since the beginning of the year versus the S&P 500's gain of 4.3%.
What's Next for Columbia Banking?While Columbia Banking has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Columbia Banking was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.74 on $685.36 million in revenues for the coming quarter and $3.06 on $2.77 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 28% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Bank of Marin (BMRC - Free Report) , another stock in the same industry, has yet to report results for the quarter ended March 2026. The results are expected to be released on April 27.
This bank holding company is expected to post quarterly earnings of $0.57 per share in its upcoming report, which represents a year-over-year change of +90%. The consensus EPS estimate for the quarter has been revised 0.6% lower over the last 30 days to the current level.
Bank of Marin's revenues are expected to be $34.25 million, up 23.1% from the year-ago quarter.
Columbia Banking (COLB - Free Report) reported $677 million in revenue for the quarter ended March 2026, representing a year-over-year increase of 37.8%. EPS of $0.72 for the same period compares to $0.67 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $674.06 million, representing a surprise of +0.44%. The company delivered an EPS surprise of +5.88%, with the consensus EPS estimate being $0.68.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Columbia Banking performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net charge-offs to average loans and leases (annualized): 0.3% compared to the 0.3% average estimate based on five analysts.Average Balance - Total interest-earning assets: $60.83 billion compared to the $60.97 billion average estimate based on five analysts.Efficiency Ratio: 58% versus the five-analyst average estimate of 56.1%.Net Interest Margin: 4% compared to the 3.9% average estimate based on five analysts.Total non-performing assets: $264 million compared to the $208.57 million average estimate based on four analysts.Total non-performing loans and leases: $261 million compared to the $199.41 million average estimate based on three analysts.Total noninterest income: $83 million compared to the $83.93 million average estimate based on five analysts.Net Interest Income: $594 million compared to the $591.17 million average estimate based on four analysts.Service charges on deposits: $20 million versus the four-analyst average estimate of $23.51 million.Net interest income (FTE): $596 million versus the four-analyst average estimate of $592.29 million.Financial services and trust revenue: $15 million compared to the $15.05 million average estimate based on three analysts.Other non-interest (loss) income: $13 million versus $10.37 million estimated by two analysts on average.View all Key Company Metrics for Columbia Banking here>>>
Shares of Columbia Banking have returned +5.1% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
