AG真人官方

STOCK TITAN
  1. Home
  2. News
  3. COLB
  4. COLUMBIA BANKING SYSTEM, INC. REPORTS SECOND QUARTER 2025 RESULTS

COLUMBIA BANKING SYSTEM, INC. REPORTS SECOND QUARTER 2025 RESULTS

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
earnings
Rhea-AI Summary

Columbia Banking System (NASDAQ:COLB) reported strong Q2 2025 results with net income of $152 million and diluted EPS of $0.73. The bank's performance showed significant improvement with net interest margin expanding to 3.75%, up 15 basis points from Q1. Net interest income increased by $21 million, driven by higher yields on loans and securities.

The bank maintained strong credit quality with non-performing assets at 0.35% of total assets and net charge-offs at 0.31%. Total assets reached $51.9 billion, with loans at $37.6 billion and deposits at $41.7 billion. The company continues to progress with its planned acquisition of Pacific Premier Bancorp, expecting to close by September 2025, pending regulatory approvals.

Notable developments include the opening of three new branches, a successful deposit campaign generating $450 million in new deposits, and maintaining a strong capital position with an estimated total risk-based capital ratio of 13.0%.

Columbia Banking System (NASDAQ:COLB) ha riportato risultati solidi nel secondo trimestre del 2025 con un utile netto di 152 milioni di dollari e un utile per azione diluito di 0,73 dollari. Le prestazioni della banca hanno mostrato un miglioramento significativo con un margine di interesse netto che si 猫 ampliato al 3,75%, in aumento di 15 punti base rispetto al primo trimestre. Il reddito da interessi netti 猫 cresciuto di 21 milioni di dollari, grazie a rendimenti pi霉 elevati su prestiti e titoli.

La banca ha mantenuto una solida qualit脿 del credito con attivit脿 non performanti pari allo 0,35% del totale degli attivi e svalutazioni nette allo 0,31%. Gli attivi totali hanno raggiunto 51,9 miliardi di dollari, con prestiti a 37,6 miliardi e depositi a 41,7 miliardi. La societ脿 continua a progredire con l'acquisizione pianificata di Pacific Premier Bancorp, che si prevede di completare entro settembre 2025, subordinatamente alle approvazioni regolamentari.

Tra gli sviluppi rilevanti vi sono l'apertura di tre nuove filiali, una campagna di raccolta depositi di successo che ha generato 450 milioni di dollari in nuovi depositi, e il mantenimento di una solida posizione patrimoniale con un rapporto patrimoniale totale basato sul rischio stimato del 13,0%.

Columbia Banking System (NASDAQ:COLB) report贸 s贸lidos resultados en el segundo trimestre de 2025 con un ingreso neto de 152 millones de d贸lares y ganancias diluidas por acci贸n de 0,73 d贸lares. El desempe帽o del banco mostr贸 una mejora significativa con un margen de inter茅s neto que se expandi贸 a 3,75%, un aumento de 15 puntos b谩sicos respecto al primer trimestre. Los ingresos netos por intereses aumentaron 21 millones de d贸lares, impulsados por mayores rendimientos en pr茅stamos y valores.

El banco mantuvo una fuerte calidad crediticia con activos no rentables en 0,35% del total de activos y castigos netos en 0,31%. Los activos totales alcanzaron 51,9 mil millones de d贸lares, con pr茅stamos por 37,6 mil millones y dep贸sitos por 41,7 mil millones. La compa帽铆a contin煤a avanzando con su adquisici贸n planificada de Pacific Premier Bancorp, esperando cerrar para septiembre de 2025, sujeto a aprobaciones regulatorias.

Entre los desarrollos destacados est谩n la apertura de tres nuevas sucursales, una exitosa campa帽a de dep贸sitos que gener贸 450 millones de d贸lares en nuevos dep贸sitos, y el mantenimiento de una s贸lida posici贸n de capital con una proporci贸n estimada de capital total basado en riesgos del 13,0%.

Columbia Banking System (NASDAQ:COLB)電� 2025雲� 2攵勱赴鞐� 靾滌澊鞚� 1鞏� 5,200毵� 雼煬鞕� 頋劃 欤茧嫻靾滌澊鞚� 0.73雼煬霛茧姅 臧曤牓頃� 鞁れ爜鞚� 氤搓碃頄堨姷雼堧嫟. 鞚�頄夓潣 靹标臣電� 靾滌澊鞛愲歆勳澊 3.75%搿� 1攵勱赴 雽�牍� 15氩犾澊鞁滌姢韽澑韸� 靸侅姽頃橂┌ 韥矊 臧滌劆霅橃棃鞀惦媹雼�. 靾滌澊鞛愳垬鞚奠潃 雽�於� 氚� 歃濌秾 靾橃澋毳� 靸侅姽鞐� 頌橃瀰鞏� 2,100毵� 雼煬 歃濌皜頄堨姷雼堧嫟.

鞚赌頄夓潃 齑濎瀽靷� 雽�牍� 攵�鞁れ瀽靷� 牍勳湪 0.35%鞕� 靾滊寑靻愲箘鞖� 0.31%搿� 瓴碃頃� 鞁犾毄 頀堨鞚� 鞙犾頄堨姷雼堧嫟. 齑濎瀽靷办潃 519鞏� 雼煬鞐� 雼枅鞙茧┌, 雽�於滌潃 376鞏� 雼煬, 鞓堦笀鞚� 417鞏� 雼煬鞓�鞀惦媹雼�. 須岇偓電� 攴滌牅 鞀轨澑 雽�旮� 欷戩澑 2025雲� 9鞗旉箤歆� 毵堦皭 鞓堨爼鞚� Pacific Premier Bancorp 鞚胳垬 瓿勴殟鞚� 瓿勳啀 歆勴枆 欷戩瀰雼堧嫟.

欤检殧 氚滌爠 靷暛鞙茧電� 靹� 臧滌潣 鞁犼窚 歆�鞝� 臧滌劋, 4鞏� 5觳滊 雼煬鞚� 鞁犼窚 鞓堦笀鞚� 彀届稖頃� 靹标车鞝侅澑 鞓堦笀 旌犿帢鞚�, 攴鸽Μ瓿� 鞎� 13.0%鞚� 齑� 鞙勴棙旮半皹 鞛愲掣牍勳湪搿� 臧曤牓頃� 鞛愲掣 鞙勳箻毳� 鞙犾頃� 鞝愳澊 韽暔霅╇媹雼�.

Columbia Banking System (NASDAQ:COLB) a publi茅 de solides r茅sultats pour le deuxi猫me trimestre 2025 avec un revenu net de 152 millions de dollars et un BPA dilu茅 de 0,73 dollar. La performance de la banque a montr茅 une am茅lioration significative avec une marge d'int茅r锚t nette qui s'est 茅largie 脿 3,75%, en hausse de 15 points de base par rapport au premier trimestre. Le revenu net d'int茅r锚ts a augment茅 de 21 millions de dollars, port茅 par des rendements plus 茅lev茅s sur les pr锚ts et les titres.

La banque a maintenu une forte qualit茅 de cr茅dit avec des actifs non performants 脿 0,35% du total des actifs et des radiations nettes 脿 0,31%. Les actifs totaux ont atteint 51,9 milliards de dollars, avec des pr锚ts 脿 37,6 milliards et des d茅p么ts 脿 41,7 milliards. La soci茅t茅 poursuit sa progression avec l'acquisition pr茅vue de Pacific Premier Bancorp, dont la cl么ture est attendue pour septembre 2025, sous r茅serve des approbations r茅glementaires.

Parmi les d茅veloppements notables figurent l'ouverture de trois nouvelles agences, une campagne de d茅p么ts r茅ussie g茅n茅rant 450 millions de dollars de nouveaux d茅p么ts, et le maintien d'une solide position en capital avec un ratio de capital total bas茅 sur le risque estim茅 脿 13,0%.

Columbia Banking System (NASDAQ:COLB) meldete starke Ergebnisse f眉r das zweite Quartal 2025 mit einem Nettoeinkommen von 152 Millionen US-Dollar und einem verw盲sserten Gewinn je Aktie von 0,73 US-Dollar. Die Bank verzeichnete eine deutliche Verbesserung mit einer Ausweitung der Nettozinsspanne auf 3,75%, ein Anstieg um 15 Basispunkte gegen眉ber dem ersten Quartal. Die Nettozinsertr盲ge stiegen um 21 Millionen US-Dollar, angetrieben durch h枚here Ertr盲ge aus Krediten und Wertpapieren.

Die Bank hielt eine starke Kreditqualit盲t mit notleidenden Verm枚genswerten von 0,35% der Gesamtaktiva und Nettoabschreibungen von 0,31%. Die Gesamtaktiva erreichten 51,9 Milliarden US-Dollar, mit Krediten in H枚he von 37,6 Milliarden und Einlagen von 41,7 Milliarden. Das Unternehmen macht Fortschritte bei der geplanten 脺bernahme von Pacific Premier Bancorp, die voraussichtlich bis September 2025 abgeschlossen wird, vorbehaltlich beh枚rdlicher Genehmigungen.

Zu den bemerkenswerten Entwicklungen z盲hlen die Er枚ffnung von drei neuen Filialen, eine erfolgreiche Einlagenkampagne, die 450 Millionen US-Dollar an neuen Einlagen generierte, sowie die Aufrechterhaltung einer starken Kapitalposition mit einer gesch盲tzten risikobasierten Gesamtkapitalquote von 13,0%.

Positive
  • None.
Negative
  • Total deposits decreased by $475 million to $41.7 billion due to seasonal outflows
  • Borrowings increased by $800 million quarter-over-quarter
  • Provision for credit losses increased to $29 million from $27 million in Q1
  • Non-interest income decreased by $2 million from the previous quarter

Insights

Columbia delivered strong Q2 with improved NIM, higher earnings, and stable credit metrics while preparing for Pacific Premier acquisition.

Columbia Banking System reported $152 million in net income ($0.73 EPS) and $160 million in operating net income ($0.76 EPS) for Q2 2025, representing significant improvements from both the previous quarter and year-ago period. The bank's return on average assets jumped to 1.19%, up from 0.68% in Q1 and 0.93% a year ago.

The standout metric this quarter was net interest margin (NIM), which expanded 15 basis points to 3.75%. This improvement came from multiple sources: higher yields on investment securities (up 50bps to 4.22%), increased loan yields (up 8bps to 6.00%), and stable deposit costs. The bank's disciplined approach to deposit pricing is paying dividends, with interest-bearing deposit costs holding steady at 2.52%.

Columbia's credit quality metrics remained stable with net charge-offs at 0.31% of average loans (annualized), practically unchanged from 0.32% in Q1. Non-performing assets held steady at 0.35% of total assets. The loan portfolio showed selective growth, with commercial loans expanding while the bank continued to let transactional real estate portfolios run off.

Total deposits decreased by $475 million to $41.7 billion, attributed to seasonal tax payments and customers using cash to pay down debt. This deposit outflow was offset by borrowings, which increased by $800 million.

The bank continues preparations for its acquisition of Pacific Premier Bancorp, announced in April 2025, with shareholders of both companies approving the combination on July 21. The transaction is expected to close as soon as September 1, pending regulatory approvals.

Columbia's capital position strengthened with tangible book value per share increasing to $18.47 from $17.86 in the prior quarter. The estimated common equity tier 1 risk-based capital ratio improved to 10.8%, up from 10.6%.

TACOMA, Wash., July 24, 2025 /PRNewswire/ --

听

$152 million


$160 million


$0.73


$0.76

Net income


Operating net income 1


Earnings per common share -
diluted


Operating earnings per common
share - diluted 1

听

CEO Commentary

"Our second quarter results demonstrate our focus on profitability and balance sheet optimization," said Clint Stein, President and CEO. "Commercial loan growth outpaced runoff in transactional portfolios while the net interest margin benefited from loan repricing, controlled deposit pricing, and a rebound in securities yields. Continued expense discipline further supported our strong performance, even as we continue to reinvest in our growing franchise鈥攐pening three new branches and planning for the closing of our Pacific Premier acquisition. While customer deposits declined due to normal seasonal activity and increased cash usage, our Business Bank of Choice strategy continues to attract new relationships. We remain laser focused on delivering top-quartile performance and enhancing long-term tangible book value while returning excess capital to our shareholders."

鈥�Clint Stein, President and CEO of Columbia Banking System, Inc.

听

2Q25 HIGHLIGHTS (COMPARED TO 1Q25)





Net Interest
Income and
NIM

鈥⑻� Net interest income increased by $21 million from the prior quarter, due to higher interest income earned on loans and investment securities and relatively stable funding costs.


鈥⑻� Net interest margin was 3.75%, up 15 basis points from the prior quarter, as the yields on investment securities and loans increased and the cost of interest-bearing liabilities decreased by 2 basis points.





Non-Interest
Income and
Expense

鈥⑻� Non-interest income decreased by $2 million. Excluding the impact of fair value and hedges,1 non-interest income increased by $8 million, due to higher core fee-generating businesses, like commercial credit cards and wealth management services.


鈥⑻� Non-interest expense decreased by $62 million, primarily due to a legal settlement and severance expense in the first quarter, which did not repeat.





Credit Quality

鈥⑻� Net charge-offs were 0.31% of average loans and leases (annualized), compared to 0.32% in the prior quarter.


鈥⑻� Provision expense was $29听million, compared to $27 million in the prior quarter.


鈥⑻� Non-performing assets to total assets was 0.35%, unchanged from March听31, 2025.





Capital

鈥⑻� Estimated total risk-based capital ratio of 13.0% and estimated common equity tier 1 risk-based capital ratio of 10.8%.


鈥⑻� Declared a quarterly cash dividend of $0.36 per common share on May 16, 2025, which was paid June 16, 2025.





Notable Items

鈥⑻� The second quarter's small business and retail campaign, which ran through mid-July, brought over $450 million in new deposits to the bank. The campaign was also successful in generating new SBA lending relationships.


鈥⑻� Opened two branches in Arizona, strengthening support for bankers and customers in Phoenix and the surrounding markets. A branch was also opened in Eastern Oregon, bringing essential banking services to an underserved rural community.


听

2Q25 KEY FINANCIAL DATA







PERFORMANCE METRICS

2Q25


1Q25


2Q24

Return on average assets

1.19听%


0.68听%


0.93听%

Return on average common equity

11.56听%


6.73听%


9.85听%

Return on average tangible common equity 1

16.03听%


9.45听%


14.55听%

Operating return on average assets 1

1.25听%


1.10听%


1.08听%

Operating return on average common equity 1

12.16听%


10.87听%


11.47听%

Operating return on average tangible common equity 1

16.85听%


15.26听%


16.96听%

Net interest margin

3.75听%


3.60听%


3.56听%

Efficiency ratio

54.29听%


69.06听%


59.02听%

Operating efficiency ratio, as adjusted 1

51.79听%


55.11听%


53.56听%







INCOME STATEMENT

($ in 000s, excl. per share data)

2Q25


1Q25


2Q24

Net interest income

$446,446


$424,995


$427,449

Provision for credit losses

$29,449


$27,403


$31,820

Non-interest income

$64,462


$66,377


$44,703

Non-interest expense

$277,995


$340,122


$279,244

Pre-provision net revenue 1

$232,913


$151,250


$192,908

Operating pre-provision net revenue 1

$242,126


$211,833


$219,390

Earnings per common share - diluted

$0.73


$0.41


$0.57

Operating earnings per common share - diluted 1

$0.76


$0.67


$0.67

Dividends paid per share

$0.36


$0.36


$0.36







BALANCE SHEET

2Q25


1Q25


2Q24

Total assets

听听听听听 $51.9B


听听听听听 $51.5B


听听听听听 $52.0B

Loans and leases

听听听听听 $37.6B


听听听听听 $37.6B


听听听听听 $37.7B

Deposits

听听听听听 $41.7B


听听听听听 $42.2B


听听听听听 $41.5B

Book value per common share

$25.41


$24.93


$23.76

Tangible book value per common share 1

$18.47


$17.86


$16.26

Organizational Update
Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") continues to plan for its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier"), which was announced on April 23, 2025. The shareholders of both companies overwhelmingly approved the combination at their respective special meetings, which were held July 21, 2025. We anticipate closing the transaction as soon as September 1, 2025, pending regulatory approvals and satisfaction of other customary closing conditions. Integration efforts are progressing as planned, driven by the comprehensive preparation of cross-company teams, which are led by Columbia's Integration Management Office, positioning us for a smooth and timely closing once regulatory approvals are secured and other customary closing conditions are satisfied.

Columbia expanded its Arizona footprint with the opening of its second branch in Phoenix and its first in Mesa, bringing the total number of branches in the state to four. We also opened a branch in Eastern Oregon, restoring essential banking services to a bank-less rural community. Our branch strategy encompasses thriving metropolitan areas and core community markets alike, supporting bankers already serving customers in our markets and strengthening opportunities to bring new relationships to Columbia.

Net Interest Income
Net interest income was $446 million for the second quarter of 2025, up $21 million from the prior quarter. The increase reflects higher interest income earned on loans and investment securities and relatively stable funding costs.

Columbia's net interest margin was 3.75% for the second quarter of 2025, up听15 basis points from the first quarter of 2025. Net interest margin benefited from an increase in the yield on taxable investment securities to听4.22% for the second quarter of 2025, up from 3.72% for the first quarter of 2025. The increase is due to higher conditional prepayment rates ("CPR") and the purchase of higher-yielding investment securities during the quarter. The average yield on the loan portfolio increased by听8 basis points between periods to 6.00% for the second quarter of 2025, due primarily to higher yields on commercial and construction loans and a听$2 million interest recovery related to a nonperforming loan that repaid in full. The cost of interest-bearing deposits was unchanged between periods at 2.52% for the second quarter of 2025, in line with the cost of interest-bearing deposits for the month of June and as of June 30, 2025. Columbia's cost of interest-bearing liabilities decreased 2 basis points from the prior quarter to 2.78% for the second quarter of 2025, in line with the cost of interest-bearing liabilities for the month of June and as of June 30, 2025. Please refer to the Q2 2025 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.

Non-interest Income
Non-interest income was $64 million for the second quarter of 2025, down $2 million from the prior quarter. The decrease was driven by quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, due to interest rate fluctuations during the quarter, collectively resulting in a net fair value loss of $1 million in the second quarter compared to a net fair value gain of $9 million in the first quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was up $8 million[2] between periods, due primarily to higher card-based fee income and growth in other core fee-generating businesses, including swap-related income, financial services and trust revenue, and treasury management fees.

Non-interest Expense
Non-interest expense was $278 million for the second quarter of 2025, down $62 million from the prior quarter, which included a $55 million accrual related to a legal settlement and $15 million in severance expense. Excluding the legal settlement, exit and disposal costs, and merger and restructuring expense, which includes the first quarter's severance expense, non-interest expense was $269 million2, down $1 million from the prior quarter, as lower legal expense鈥攚hich was separate from the legal settlement鈥攊ntangible amortization, and other miscellaneous expenses more than offset an increase in compensation costs. Please refer to the Q2 2025 Earnings Presentation for additional expense details.

Balance Sheet
Total consolidated assets were $51.9 billion as of June听30, 2025, up from $51.5 billion as of March听31, 2025. Cash and cash equivalents were $1.9 billion as of June听30, 2025, down from $2.1 billion as of March听31, 2025.听Including secured off-balance sheet lines of credit, total available liquidity was $18.6 billion as of June听30, 2025, representing 36% of total assets, 44% of total deposits, and 132% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $8.7 billion as of June听30, 2025, an increase of $424 million relative to March听31, 2025, as purchases and an increase in the fair value of the portfolio offset paydowns. Please refer to the Q2 2025 Earnings Presentation for additional details related to our securities portfolio and liquidity position.

Gross loans and leases were $37.6 billion as of June听30, 2025, an increase of $21 million relative to March听31, 2025. The change primarily reflects 2% annualized growth in commercial and owner-occupied commercial real estate loans, which was offset by 7% annualized contraction in multifamily loans. "Our teams remain focused on relationship-driven activity as we continue to let transactional real estate portfolios wind down," commented Chris Merrywell, President of Columbia Bank. "Loan balances were also impacted by an increase in prepayment activity, which muted a double-digit increase in origination volume relative to both the prior and year-ago quarters." Please refer to the Q2 2025 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to our office portfolio.

Total deposits were $41.7 billion as of June听30, 2025, a decrease of $475 million relative to March听31, 2025, as customer deposits declined due to seasonal tax payments and other customer cash usage. "We experienced customer deposit contraction in April following strong customer balance growth in March," stated Mr. Merrywell. "Seasonal balance declines were accompanied by customers' usage of cash to pay down debt, which impacted loan prepayment activity. The quarter's results also reflect deposit balances moving off balance sheet into our wealth management products, which enhances our core fee income generation as we provide our customers with needs-based solutions." Borrowings were $3.4 billion as of June 30, 2025, an increase of $800 million relative to March 31, 2025. Please refer to the Q2 2025 Earnings Presentation for additional details related to deposit characteristics and flows.

Credit Quality
The allowance for credit losses was $439 million, or 1.17% of loans and leases, as of June 30, 2025, unchanged from March 31, 2025. The provision for credit losses was $29 million for the second quarter of 2025 and reflects credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.

Net charge-offs were 0.31% of average loans and leases (annualized) for the second quarter of 2025, compared to 0.32% for the first quarter of 2025. Net charge-offs in the FinPac portfolio were $14 million in the second quarter, compared to $17 million in the first quarter. Net charge-offs excluding the FinPac portfolio were $15 million in the second quarter, compared to $13 million in the first quarter. Non-performing assets were $180 million, or 0.35% of total assets, as of June 30, 2025, compared to $178 million, or 0.35% of total assets, as of March 31, 2025. Please refer to the Q2 2025 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 $25.41 as of June听30, 2025, compared to $24.93 as of March听31, 2025. The increase reflects net capital generation and a favorable change in accumulated other comprehensive (loss) income ("AOCI") to $(334) million as of June听30, 2025, compared to $(358) million as of the prior quarter-end. The change in AOCI is due primarily to a decrease in the tax-effected net unrealized loss on available-for-sale securities to $311 million as of June 30, 2025, compared to $337 million as of March 31, 2025. Tangible book value per common share3 was $18.47 as of June 30, 2025, compared to $17.86 as of March 31, 2025.

Columbia's estimated total risk-based capital ratio was 13.0%, and its estimated common equity tier 1 risk-based capital ratio was 10.8% as of June 30, 2025, compared to 12.9% and 10.6%, respectively, as of March 31, 2025. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of June 30, 2025 are estimates, pending completion and filing of Columbia's regulatory reports.听

Earnings Presentation and Conference Call Information
Columbia's Q2 2025 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: .

Columbia will host its second quarter 2025 earnings conference call on July 24, 2025 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 2025 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:

Register for the call:

Access the replay through Columbia's investor relations page:

About Columbia Banking System, Inc.
Columbia (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank (dba: Umpqua 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 locations in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington. With over $50 billion of assets, 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 Advisors and Columbia Trust Company, a division of Columbia Bank. Learn more at .




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.

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, continued or 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 proposed transaction with Pacific Premier (the "Transaction"), including, among others, (i) failure to complete the Transaction or unexpected delays related to the Transaction or either party's inability to satisfy closing conditions required to complete the Transaction, (ii) regulatory approvals resulting in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction, (iii) certain restrictions during the pendency of the Transaction that may impact the parties' ability to pursue certain business opportunities or strategic transactions, (iv) diversion of management's attention from ongoing business operations and opportunities, (v) cost savings and any revenue or expense synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, (vi) deposit attrition, customer or employee loss, and/or revenue loss as a result of the announcement of the Transaction, (viii) expenses related to the Transaction being greater than expected, and (ix) shareholder litigation that could prevent or delay the closing of the Transaction or otherwise negatively impact our business and operations; 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 regulations), and other factors deemed relevant by Columbia's Board of Directors, and may be subject to regulatory approval or conditions.

听

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

听

Columbia Banking System, Inc.

Consolidated Statements of Income

(Unaudited)


Quarter Ended


% Change

($ in thousands, except per share data)

Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.

Quarter


Year
over
Year

Interest income:














Loans and leases

$听听听听听 564,343


$听听听听听 552,562


$听听听听听 572,843


$听听听听听 588,603


$听听听听听 583,874


2听%


(3)听%

Interest and dividends on investments:














Taxable

80,316


68,688


75,254


76,074


78,828


17听%


2听%

Exempt from federal income tax

6,769


6,807


6,852


6,855


6,904


(1)听%


(2)听%

Dividends

3,444


2,792


2,678


2,681


2,895


23听%


19听%

Temporary investments and interest bearing deposits

15,817


16,394


18,956


24,683


23,035


(4)听%


(31)听%

Total interest income

670,689


647,243


676,583


698,896


695,536


4听%


(4)听%

Interest expense:














Deposits

180,154


176,634


189,037


208,027


207,307


2听%


(13)听%

Securities sold under agreement to repurchase and federal funds purchased

955


974


971


1,121


1,515


(2)听%


(37)听%

Borrowings

34,542


36,074


39,912


49,636


49,418


(4)听%


(30)听%

Junior and other subordinated debentures

8,592


8,566


9,290


9,894


9,847


鈥斕�%


(13)听%

Total interest expense

224,243


222,248


239,210


268,678


268,087


1听%


(16)听%

Net interest income

446,446


424,995


437,373


430,218


427,449


5听%


4听%

Provision for credit losses

29,449


27,403


28,199


28,769


31,820


7听%


(7)听%

Non-interest income:














Service charges on deposits

19,669


19,301


18,401


18,549


18,503


2听%


6听%

Card-based fees

14,559


12,571


14,634


14,591


14,681


16听%


(1)听%

Financial services and trust revenue

5,842


5,187


5,265


5,083


5,396


13听%


8听%

Residential mortgage banking revenue, net

7,343


9,334


6,958


6,668


5,848


(21)听%


26听%

Gain (loss) on sale of debt securities, net

1


4


10


3


(1)


(75)听%


nm

Gain (loss) on equity securities, net

410


1,702


(1,424)


2,272


325


(76)听%


26听%

Gain (loss) on loan and lease sales, net

172


97


(1,719)


161


(1,516)


77听%


nm

Gain (loss) on loans held for investment, at fair value

212


7,016


(7,355)


9,365


(10,114)


(97)听%


nm

BOLI income

5,184


4,883


4,742


4,674


4,705


6听%


10听%

Other income

11,070


6,282


10,235


4,793


6,876


76听%


61听%

Total non-interest income

64,462


66,377


49,747


66,159


44,703


(3)听%


44听%

Non-interest expense:














Salaries and employee benefits

154,883


145,239


141,958


147,268


145,066


7听%


7听%

Occupancy and equipment, net

47,178


48,170


46,878


45,056


45,147


(2)听%


4听%

Intangible amortization

25,826


27,979


29,055


29,055


29,230


(8)听%


(12)听%

FDIC assessments

8,144


8,022


8,121


9,332


9,664


2听%


(16)听%

Merger and restructuring expense

8,186


14,379


2,230


2,364


14,641


(43)听%


(44)听%

Legal settlement

鈥�


55,000


鈥�


鈥�


鈥�


(100)听%


nm

Other expenses

33,778


41,333


38,334


38,283


35,496


(18)听%


(5)听%

Total non-interest expense

277,995


340,122


266,576


271,358


279,244


(18)听%


鈥斕�%

Income before provision for income taxes

203,464


123,847


192,345


196,250


161,088


64听%


26听%

Provision for income taxes

51,041


37,238


49,076


50,068


40,944


37听%


25听%

Net income

$听听听听听 152,423


$听听听听听听听 86,609


$听听听听听 143,269


$听听听听听 146,182


$听听听听听 120,144


76听%


27听%















Weighted average basic shares outstanding

209,125


208,800


208,548


208,545


208,498


鈥斕�%


鈥斕�%

Weighted average diluted shares outstanding

209,975


210,023


209,889


209,454


209,011


鈥斕�%


鈥斕�%

Earnings per common share 鈥� basic

$听听听听听听听听听听 0.73


$听听听听听听听听听听 0.41


$听听听听听听听听听听 0.69


$听听听听听听听听听听 0.70


$听听听听听听听听听听 0.58


78听%


26听%

Earnings per common share 鈥� diluted

$听听听听听听听听听听 0.73


$听听听听听听听听听听 0.41


$听听听听听听听听听听 0.68


$听听听听听听听听听听 0.70


$听听听听听听听听听听 0.57


78听%


28听%


nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

听

Columbia Banking System, Inc.

Consolidated Statements of Income

(Unaudited)



Six Months Ended


% Change

($ in thousands, except per share data)


Jun 30, 2025


Jun 30, 2024


Year over
Year

Interest income:







Loans and leases


$听听听听听听听听听 1,116,905


$听听听听听听听听听 1,158,918


(4)听%

Interest and dividends on investments:







Taxable


149,004


153,845


(3)听%

Exempt from federal income tax


13,576


13,808


(2)听%

Dividends


6,236


6,602


(6)听%

Temporary investments and interest bearing deposits


32,211


46,588


(31)听%

Total interest income


1,317,932


1,379,761


(4)听%

Interest expense:







Deposits


356,788


405,742


(12)听%

Securities sold under agreement to repurchase and federal funds purchased


1,929


2,781


(31)听%

Borrowings


70,616


100,693


(30)听%

Junior and other subordinated debentures


17,158


19,734


(13)听%

Total interest expense


446,491


528,950


(16)听%

Net interest income


871,441


850,811


2听%

Provision for credit losses


56,852


48,956


16听%

Non-interest income:







Service charges on deposits


38,970


34,567


13听%

Card-based fees


27,130


27,864


(3)听%

Financial services and trust revenue


11,029


9,860


12听%

Residential mortgage banking revenue, net


16,677


10,482


59听%

Gain on sale of debt securities, net


5


11


(55)听%

Gain (loss) on equity securities, net


2,112


(1,240)


nm

Gain (loss) on loan and lease sales, net


269


(1,295)


nm

Gain (loss) on loans held for investment, at fair value


7,228


(12,486)


nm

BOLI income


10,067


9,344


8听%

Other income


17,352


17,953


(3)听%

Total non-interest income


130,839


95,060


38听%

Non-interest expense:







Salaries and employee benefits


300,122


299,604


鈥斕�%

Occupancy and equipment, net


95,348


90,438


5听%

Intangible amortization


53,805


61,321


(12)听%

FDIC assessments


16,166


24,124


(33)听%

Merger and restructuring expense


22,565


19,119


18听%

Legal settlement


55,000


鈥�


nm

Other expenses


75,111


72,154


4听%

Total non-interest expense


618,117


566,760


9听%

Income before provision for income taxes


327,311


330,155


(1)听%

Provision for income taxes


88,279


85,931


3听%

Net income


$听听听听听听听听听听听听 239,032


$听听听听听听听听听听听听 244,224


(2)听%








Weighted average basic shares outstanding


208,964


208,379


0听%

Weighted average diluted shares outstanding


209,965


208,999


0听%

Earnings per common share 鈥� basic


$听听听听听听听听听听听听听听听听听 1.14


$听听听听听听听听听听听听听听听听听 1.17


(3)听%

Earnings per common share 鈥� diluted


$听听听听听听听听听听听听听听听听听 1.14


$听听听听听听听听听听听听听听听听听 1.17


(3)听%

听

Columbia Banking System, Inc.

Consolidated Balance Sheets

(Unaudited)












% Change

($ in thousands, except per share data)

Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.

Quarter


Year
over
Year

Assets:














Cash and due from banks

$听听听听听听听听 608,057


$听听听听听听听听 591,265


$听听听听听听听听 496,666


$听听听听听听听听 591,364


$听听听听听听听听 515,263


3听%


18听%

Interest-bearing cash and temporary investments

1,334,113


1,481,441


1,381,589


1,519,658


1,553,568


(10)听%


(14)听%

Investment securities:














Equity and other, at fair value

92,958


91,580


78,133


79,996


77,221


2听%


20听%

Available for sale, at fair value

8,653,172


8,228,805


8,274,615


8,676,807


8,503,000


5听%


2听%

Held to maturity, at amortized cost

2,013


2,057


2,101


2,159


2,203


(2)听%


(9)听%

Loans held for sale

65,590


64,747


71,535


66,639


56,310


1听%


16听%

Loans and leases

37,637,013


37,616,101


37,680,901


37,503,002


37,709,987


鈥斕�%


鈥斕�%

Allowance for credit losses on loans and leases

(420,907)


(421,495)


(424,629)


(420,054)


(418,671)


鈥斕�%


1听%

Net loans and leases

37,216,106


37,194,606


37,256,272


37,082,948


37,291,316


鈥斕�%


鈥斕�%

Restricted equity securities

161,380


125,300


150,024


116,274


116,274


29听%


39听%

Premises and equipment, net

356,879


344,926


348,670


338,107


337,842


3听%


6听%

Operating lease right-of-use assets

110,478


106,696


111,227


106,224


108,278


4听%


2听%

Goodwill

1,029,234


1,029,234


1,029,234


1,029,234


1,029,234


鈥斕�%


鈥斕�%

Other intangible assets, net

430,443


456,269


484,248


513,303


542,358


(6)听%


(21)听%

Residential mortgage servicing rights, at fair value

102,863


105,663


108,358


101,919


110,039


(3)听%


(7)听%

Bank-owned life insurance

704,919


700,768


693,839


691,160


686,485


1听%


3听%

Deferred tax asset, net

299,043


311,192


359,425


286,432


361,773


(4)听%


(17)听%

Other assets

734,194


684,717


730,461


706,375


756,319


7听%


(3)听%

Total assets

$听听听听 51,901,442


$听听听听 51,519,266


$听听听听 51,576,397


$听听听听 51,908,599


$听听听听 52,047,483


1听%


鈥斕�%

Liabilities:














听Deposits














Non-interest-bearing

$听听听听 13,219,631


$听听听听 13,413,927


$听听听听 13,307,905


$听听听听 13,534,065


$听听听听 13,481,616


(1)听%


(2)听%

Interest-bearing

28,523,026


28,803,767


28,412,827


27,980,623


28,041,656


(1)听%


2听%

听 Total deposits

41,742,657


42,217,694


41,720,732


41,514,688


41,523,272


(1)听%


1听%

Securities sold under agreements to repurchase

191,435


192,386


236,627


183,833


197,860


鈥斕�%


(3)听%

Borrowings

3,350,000


2,550,000


3,100,000


3,650,000


3,900,000


31听%


(14)听%

Junior subordinated debentures, at fair value

323,015


320,774


330,895


311,896


310,187


1听%


4听%

Junior and other subordinated debentures, at amortized cost

107,554


107,611


107,668


107,725


107,781


鈥斕�%


鈥斕�%

Operating lease liabilities

124,522


121,282


125,710


121,298


123,082


3听%


1听%

Other liabilities

720,377


771,710


836,541


745,331


908,629


(7)听%


(21)听%

Total liabilities

46,559,560


46,281,457


46,458,173


46,634,771


47,070,811


1听%


(1)听%

Shareholders' equity:














Common stock

5,826,488


5,823,287


5,817,458


5,812,237


5,807,041


鈥斕�%


鈥斕�%

Accumulated deficit

(150,822)


(227,006)


(237,254)


(304,525)


(374,687)


(34)听%


(60)听%

Accumulated other comprehensive loss

(333,784)


(358,472)


(461,980)


(233,884)


(455,682)


(7)听%


(27)听%

Total shareholders' equity

5,341,882


5,237,809


5,118,224


5,273,828


4,976,672


2听%


7听%

Total liabilities and shareholders' equity

$听听听听 51,901,442


$听听听听 51,519,266


$听听听听 51,576,397


$听听听听 51,908,599


$听听听听 52,047,483


1听%


鈥斕�%















Common shares outstanding at period end

210,213


210,112


209,536


209,532


209,459


鈥斕�%


鈥斕�%

听

Columbia Banking System, Inc.

Financial Highlights

(Unaudited)



Quarter Ended


% Change



Jun 30,
2025


Mar 31,
2025


Dec 31,
2024


Sep 30,
2024


Jun 30,
2024


Seq.
Quarter


Year over
Year

Per Common Share Data:听















Dividends


$听听听听听听听听 0.36


$听听听听听听听听 0.36


$听听听听听听听听 0.36


$听听听听听听听听 0.36


$听听听听听听听听 0.36


鈥斕�%


鈥斕�%

Book value


$听听听听听听 25.41


$听听听听听听 24.93


$听听听听听听 24.43


$听听听听听听 25.17


$听听听听听听 23.76


2听%


7听%

Tangible book value (1)


$听听听听听听 18.47


$听听听听听听 17.86


$听听听听听听 17.20


$听听听听听听 17.81


$听听听听听听 16.26


3听%


14听%
















Performance Ratios:















Efficiency ratio (2)


54.29听%


69.06听%


54.61听%


54.56听%


59.02听%


(14.77)


(4.73)

Non-interest expense to average assets (1)


2.16听%


2.68听%


2.06听%


2.08听%


2.16听%


(0.52)


鈥�

Return on average assets ("ROAA")


1.19听%


0.68听%


1.10听%


1.12听%


0.93听%


0.51


0.26

Pre-provision net revenue ("PPNR") ROAA (1)


1.81听%


1.19听%


1.70听%


1.72听%


1.49听%


0.62


0.32

Return on average common equity


11.56听%


6.73听%


10.91听%


11.36听%


9.85听%


4.83


1.71

Return on average tangible common equity (1)


16.03听%


9.45听%


15.41听%


16.34听%


14.55听%


6.58


1.48
















Performance Ratios - Operating: (1)















Operating efficiency ratio, as adjusted (1), (2)


51.79听%


55.11听%


52.51听%


53.89听%


53.56听%


(3.32)


(1.77)

Operating non-interest expense to average assets (1)


2.10听%


2.13听%


2.03听%


2.05听%


2.03听%


(0.03)


0.07

Operating ROAA (1)


1.25听%


1.10听%


1.15听%


1.10听%


1.08听%


0.15


0.17

Operating PPNR ROAA (1)


1.88听%


1.67听%


1.77听%


1.69听%


1.70听%


0.21


0.18

Operating return on average common equity (1)


12.16听%


10.87听%


11.40听%


11.15听%


11.47听%


1.29


0.69

Operating return on average tangible common equity (1)


16.85听%


15.26听%


16.11听%


16.04听%


16.96听%


1.59


(0.11)
















Average Balance Sheet Yields, Rates, & Ratios:















Yield on loans and leases


6.00听%


5.92听%


6.05听%


6.22听%


6.20听%


0.08


(0.20)

Yield on earning assets (2)


5.62听%


5.49听%


5.63听%


5.78听%


5.80听%


0.13


(0.18)

Cost of interest bearing deposits


2.52听%


2.52听%


2.66听%


2.95听%


2.97听%


鈥�


(0.45)

Cost of interest bearing liabilities


2.78听%


2.80听%


2.98听%


3.29听%


3.31听%


(0.02)


(0.53)

Cost of total deposits


1.73听%


1.72听%


1.80听%


1.99听%


2.01听%


0.01


(0.28)

Cost of total funding (3)


1.98听%


1.99听%


2.09听%


2.32听%


2.34听%


(0.01)


(0.36)

Net interest margin (2)


3.75听%


3.60听%


3.64听%


3.56听%


3.56听%


0.15


0.19

Average interest bearing cash / Average interest earning assets


2.97听%


3.13听%


3.29听%


3.74听%


3.51听%


(0.16)


(0.54)

Average loans and leases / Average interest earning assets


78.64听%


78.93听%


78.42听%


77.91听%


78.27听%


(0.29)


0.37

Average loans and leases / Average total deposits


90.07听%


90.36听%


89.77听%


90.42听%


90.61听%


(0.29)


(0.54)

Average non-interest bearing deposits / Average total deposits


31.39听%


31.75听%


32.45听%


32.52听%


32.54听%


(0.36)


(1.15)

Average total deposits / Average total funding (3)


91.92听%


91.86听%


91.88听%


90.25听%


90.15听%


0.06


1.77
















Select Credit & Capital Ratios:















Non-performing loans and leases to total loans and leases


0.47听%


0.47听%


0.44听%


0.44听%


0.41听%


鈥�


0.06

Non-performing assets to total assets


0.35听%


0.35听%


0.33听%


0.32听%


0.30听%


鈥�


0.05

Allowance for credit losses to loans and leases


1.17听%


1.17听%


1.17听%


1.17听%


1.16听%


鈥�


0.01

Total risk-based capital ratio (4)


13.0听%


12.9听%


12.8听%


12.5听%


12.2听%


0.10


0.80

Common equity tier 1 risk-based capital ratio (4)


10.8听%


10.6听%


10.5听%


10.3听%


10.0听%


0.20


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.

听

Columbia Banking System, Inc.

Financial Highlights

(Unaudited)



Six Months Ended


% Change



Jun 30, 2025


Jun 30, 2024


Year over Year

Per Common Share Data:







Dividends


$听听听听听听听听听听听听听听听听听听听听听 0.72


$听听听听听听听听听听听听听听听听听听听听听 0.72


鈥斕�%








Performance Ratios:







Efficiency ratio (2)


61.54听%


59.80听%


1.74

Non-interest expense to average assets (1)


2.42听%


2.19听%


0.23

Return on average assets


0.94听%


0.94听%


鈥�

PPNR ROAA (1)


1.50听%


1.47听%


0.03

Return on average common equity


9.18听%


9.93听%


(0.75)

Return on average tangible common equity (1)


12.80听%


14.69听%


(1.89)








Performance Ratios - Operating: (1)







Operating efficiency ratio, as adjusted (1), (2)


53.40听%


55.26听%


(1.86)

Operating non-interest expense to average assets (1)


2.11听%


2.08听%


0.03

Operating ROAA (1)


1.17听%


1.06听%


0.11

Operating PPNR ROAA (1)


1.78听%


1.62听%


0.16

Operating return on average common equity (1)


11.52听%


11.18听%


0.34

Operating return on average tangible common equity (1)


16.07听%


16.54听%


(0.47)








Average Balance Sheet Yields, Rates, & Ratios:







Yield on loans and leases


5.96听%


6.17听%


(0.21)

Yield on earning assets (2)


5.56听%


5.75听%


(0.19)

Cost of interest bearing deposits


2.52听%


2.93听%


(0.41)

Cost of interest bearing liabilities


2.79听%


3.28听%


(0.49)

Cost of total deposits


1.72听%


1.96听%


(0.24)

Cost of total funding (3)


1.98听%


2.31听%


(0.33)

Net interest margin (2)


3.67听%


3.54听%


0.13

Average interest bearing cash / Average interest earning assets


3.05听%


3.54听%


(0.49)

Average loans and leases / Average interest earning assets


78.78听%


78.07听%


0.71

Average loans and leases / Average total deposits


90.21听%


90.51听%


(0.30)

Average non-interest bearing deposits / Average total deposits


31.57听%


32.91听%


(1.34)

Average total deposits / Average total funding (3)


91.90听%


90.12听%


1.78



(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.

听

Columbia Banking System, Inc.

Loan & Lease Portfolio Balances and Mix

(Unaudited)


Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


% Change

($ in thousands)

Amount


Amount


Amount


Amount


Amount


Seq.
Quarter


Year
over
Year

Loans and leases:














Commercial real estate:














Non-owner occupied term

$听听听 6,189,992


$听听听 6,179,261


$听听听 6,278,154


$听听听 6,391,806


$听听听 6,407,351


鈥斕�%


(3)听%

Owner occupied term

5,319,529


5,303,424


5,270,294


5,210,485


5,230,511


鈥斕�%


2听%

Multifamily

5,735,057


5,831,266


5,804,364


5,779,737


5,868,848


(2)听%


(2)听%

Construction & development

2,069,727


2,070,732


1,983,213


1,988,923


1,946,693


鈥斕�%


6听%

Residential development

286,175


252,349


231,647


244,579


269,106


13听%


6听%

Commercial:














Term

5,352,598


5,490,189


5,537,618


5,429,209


5,559,548


(3)听%


(4)听%

Lines of credit & other

2,950,782


2,753,613


2,769,643


2,640,669


2,558,633


7听%


15听%

Leases & equipment finance

1,641,450


1,644,052


1,660,835


1,670,427


1,701,943


鈥斕�%


(4)听%

Residential:














Mortgage

5,829,833


5,878,427


5,933,352


5,944,734


5,992,163


(1)听%


(3)听%

Home equity loans & lines

2,082,766


2,039,061


2,031,653


2,017,336


1,982,786


2听%


5听%

听听 Consumer & other

179,104


173,727


180,128


185,097


192,405


3听%


(7)听%

Total loans and leases, net of deferred fees and costs

$听 37,637,013


$听 37,616,101


$听 37,680,901


$听 37,503,002


$听 37,709,987


鈥斕�%


鈥斕�%















Loans and leases mix:














Commercial real estate:














Non-owner occupied term

16听%


16听%


17听%


17听%


17听%





Owner occupied term

14听%


14听%


14听%


14听%


14听%





Multifamily

15听%


15听%


15听%


15听%


15听%





Construction & development

6听%


6听%


5听%


5听%


5听%





Residential development

1听%


1听%


1听%


1听%


1听%





Commercial:














Term

14听%


15听%


15听%


15听%


15听%





Lines of credit & other

8听%


7听%


7听%


7听%


6听%





Leases & equipment finance

4听%


4听%


4听%


4听%


5听%





Residential:














Mortgage

15听%


16听%


16听%


16听%


16听%





Home equity loans & lines

6听%


5听%


5听%


5听%


5听%





Consumer & other

1听%


1听%


1听%


1听%


1听%





Total

100听%


100听%


100听%


100听%


100听%





听

Columbia Banking System, Inc.

Deposit Portfolio Balances and Mix

(Unaudited)


Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


% Change

($ in thousands)

Amount


Amount


Amount


Amount


Amount


Seq.
Quarter


Year over
Year

Deposits:














Demand, non-interest bearing

$听 13,219,631


$听 13,413,927


$听 13,307,905


$听 13,534,065


$听 13,481,616


(1)听%


(2)听%

Demand, interest bearing

8,334,553


8,494,493


8,475,693


8,444,424


8,195,284


(2)听%


2听%

Money market

11,694,412


11,970,785


11,475,055


11,351,066


10,927,813


(2)听%


7听%

Savings

2,275,500


2,336,727


2,360,040


2,450,924


2,508,598


(3)听%


(9)听%

Time

6,218,561


6,001,762


6,102,039


5,734,209


6,409,961


4听%


(3)听%

Total

$听 41,742,657


$听 42,217,694


$听 41,720,732


$听 41,514,688


$听 41,523,272


(1)听%


1听%















Total core deposits (1)

$听 37,293,962


$听 38,079,274


$听 37,487,909


$听 37,774,870


$听 37,159,069


(2)听%


0听%















Deposit mix:














Demand, non-interest bearing

32听%


32听%


32听%


33听%


33听%





Demand, interest bearing

20听%


20听%


20听%


20听%


20听%





Money market

28听%


28听%


27听%


27听%


26听%





Savings

5听%


6听%


6听%


6听%


6听%





Time

15听%


14听%


15听%


14听%


15听%





Total

100听%


100听%


100听%


100听%


100听%







(1)

Core deposits are defined as total deposits less time deposits greater than $250,000 and all brokered deposits.

听

Columbia Banking System, Inc.

Credit Quality 鈥� Non-performing Assets

听(Unaudited)


Quarter Ended


% Change

($ in thousands)

Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year over
Year

Non-performing assets:听(1)














Loans and leases on non-accrual status:















Commercial real estate

$听听听听 30,739


$听听听听 41,910


$听听听听 39,332


$听听听听 37,332


$听听听听 37,584


(27)听%


(18)听%


Commercial

66,809


80,492


57,146


61,464


54,986


(17)听%


22听%


Total loans and leases on non-accrual status

97,548


122,402


96,478


98,796


92,570


(20)听%


5听%

Loans and leases past due 90+ days and accruing: (2)















Commercial real estate

361


鈥�


鈥�


136


鈥�


nm


nm


Commercial

5,581


75


4,684


6,012


5,778


nm


(3)听%


Residential (2)

73,607


52,392


65,552


59,961


54,525


40听%


35听%


Consumer & other

337


278


179


317


220


21听%


53听%


Total loans and leases past due 90+ days and accruing (2)

79,886


52,745


70,415


66,426


60,523


51听%


32听%

Total non-performing loans and leases (1), (2)

177,434


175,147


166,893


165,222


153,093


1听%


16听%

Other real estate owned

2,818


2,849


2,666


2,395


2,839


(1)听%


(1)听%

Total non-performing assets (1), (2)

$听听听 180,252


$听听听 177,996


$听听听 169,559


$听听听 167,617


$听听听 155,932


1听%


16听%
















Loans and leases past due 31-89 days

$听听听 141,863


$听听听 158,026


$听听听 105,199


$听听听听 67,310


$听听听听 85,998


(10)听%


65听%

Loans and leases past due 31-89 days to total loans and leases

0.38听%


0.42听%


0.28听%


0.18听%


0.23听%


(0.04)


0.15

Non-performing loans and leases to total loans and leases (1), (2)

0.47听%


0.47听%


0.44听%


0.44听%


0.41听%


鈥�


0.06

Non-performing assets to total assets (1), (2)

0.35听%


0.35听%


0.33听%


0.32听%


0.30听%


鈥�


0.05

Non-accrual loans and leases to total loan and leases (2)

0.26听%


0.33听%


0.26听%


0.26听%


0.25听%


(0.07)


0.01
















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 $67.8 million, $66.5 million, $73.6 million, $65.8 million, and $64.6 million at June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, and June 30, 2024, respectively.





























(2)

Excludes certain mortgage loans guaranteed by GNMA, which Columbia has the unilateral right to repurchase but has not done so, totaling $2.0 million, $2.6 million, $2.4 million, $3.7 million, and $1.0 million at June听30, 2025, March听31, 2025, December听31, 2024, September听30, 2024, and June听30, 2024, respectively.














听

Columbia Banking System, Inc.

Credit Quality 鈥� Allowance for Credit Losses

(Unaudited)



Quarter Ended


% Change

($ in thousands)

Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year over
Year

Allowance for credit losses on loans and leases (ACLLL)














Balance, beginning of period

$听听听 421,495


$听听听 424,629


$听听听 420,054


$听听听 418,671


$听听听 414,344


(1)听%


2听%

Provision for credit losses on loans and leases

28,757


26,187


30,230


30,498


34,760


10听%


(17)听%

Charge-offs















Commercial real estate

(77)


(119)


(2,935)


鈥�


(585)


(35)听%


(87)听%


Commercial

(33,073)


(32,611)


(25,780)


(32,645)


(33,561)


1听%


(1)听%


Residential

(285)


(303)


(26)


(936)


(504)


(6)听%


(43)听%


Consumer & other

(1,164)


(1,080)


(1,523)


(1,395)


(1,551)


8听%


(25)听%


Total charge-offs

(34,599)


(34,113)


(30,264)


(34,976)


(36,201)


1听%


(4)听%

Recoveries















Commercial real estate

71


19


3


44


551


274听%


(87)听%


Commercial

4,676


4,336


4,104


5,258


4,198


8听%


11听%


Residential

187


98


163


143


411


91听%


(55)听%


Consumer & other

320


339


339


416


608


(6)听%


(47)听%


Total recoveries

5,254


4,792


4,609


5,861


5,768


10听%


(9)听%

Net (charge-offs) recoveries















Commercial real estate

(6)


(100)


(2,932)


44


(34)


(94)听%


(82)听%


Commercial

(28,397)


(28,275)


(21,676)


(27,387)


(29,363)


0听%


(3)听%


Residential

(98)


(205)


137


(793)


(93)


(52)听%


5听%


Consumer & other

(844)


(741)


(1,184)


(979)


(943)


14听%


(10)听%


Total net charge-offs

(29,345)


(29,321)


(25,655)


(29,115)


(30,433)


0听%


(4)听%

Balance, end of period

$听听听 420,907


$听听听 421,495


$听听听 424,629


$听听听 420,054


$听听听 418,671


0听%


1听%

Reserve for unfunded commitments














Balance, beginning of period

$听听听听 17,384


$听听听听 16,168


$听听听听 18,199


$听听听听 19,928


$听听听听 22,868


8听%


(24)听%

Provision (recapture)听 for credit losses on unfunded commitments

692


1,216


(2,031)


(1,729)


(2,940)


(43)听%


nm

Balance, end of period

18,076


17,384


16,168


18,199


19,928


4听%


(9)听%

Total Allowance for credit losses (ACL)

$听听听 438,983


$听听听 438,879


$听听听 440,797


$听听听 438,253


$听听听 438,599


鈥斕�%


鈥斕�%















Net charge-offs to average loans and leases (annualized)

0.31听%


0.32听%


0.27听%


0.31听%


0.32听%


(0.01)


(0.01)

Recoveries to gross charge-offs

15.19听%


14.05听%


15.23听%


16.76听%


15.93听%


1.14


(0.74)

ACLLL to loans and leases

1.12听%


1.12听%


1.13听%


1.12听%


1.11听%


鈥�


0.01

ACL to loans and leases

1.17听%


1.17听%


1.17听%


1.17听%


1.16听%


鈥�


0.01



nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."


听

Columbia Banking System, Inc.

Credit Quality 鈥� Allowance for Credit Losses

(Unaudited)



Six Months Ended


% Change

($ in thousands)


Jun 30, 2025


Jun 30, 2024


Year over Year

Allowance for credit losses on loans and leases (ACLLL)







Balance, beginning of period


$听听听听听听听听听 424,629


$听听听听听听听听听 440,871


(4)听%

Provision for credit losses on loans and leases听


54,944


52,236


5听%

Charge-offs








Commercial real estate


(196)


(746)


(74)听%


Commercial


(65,684)


(80,793)


(19)听%


Residential


(588)


(994)


(41)听%


Consumer & other


(2,244)


(3,421)


(34)听%


Total charge-offs


(68,712)


(85,954)


(20)听%

Recoveries








Commercial real estate


90


909


(90)听%


Commercial


9,012


8,930


1听%


Residential


285


581


(51)听%


Consumer & other


659


1,098


(40)听%


Total recoveries


10,046


11,518


(13)听%

Net (charge-offs) recoveries








Commercial real estate


(106)


163


(165)听%


Commercial


(56,672)


(71,863)


(21)听%


Residential


(303)


(413)


(27)听%


Consumer & other


(1,585)


(2,323)


(32)听%


Total net charge-offs


(58,666)


(74,436)


(21)听%

Balance, end of period


$听听听听听听听听听 420,907


$听听听听听听听听听 418,671


1听%

Reserve for unfunded commitments







Balance, beginning of period


$听听听听听听听听听听听 16,168


$听听听听听听听听听听听 23,208


(30)听%

(Recapture) provision for credit losses on unfunded commitments


1,908


(3,280)


nm

Balance, end of period


18,076


19,928


(9)听%

Total Allowance for credit losses (ACL)


$听听听听听听听听听 438,983


$听听听听听听听听听 438,599


0听%








Net charge-offs to average loans and leases (annualized)


0.31听%


0.40听%


(0.09)

Recoveries to gross charge-offs


14.62听%


13.40听%


1.22


nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

听

Columbia Banking System, Inc.

Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates

(Unaudited)


Quarter Ended


June 30, 2025


March 31, 2025


June 30, 2024

($ in thousands)

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

$听听听听听听听 66,640


$听听听听 1,109


6.66听%


$听听听听听听听 59,223


$听听听听听听 935


6.32听%


$听听听听听 101,516


$听听听听 1,628


6.42听%

Loans and leases (1)

37,647,789


563,234


6.00听%


37,678,820


551,627


5.92听%


37,663,396


582,246


6.20听%

Taxable securities

7,937,471


83,760


4.22听%


7,690,610


71,480


3.72听%


7,839,202


81,723


4.17听%

Non-taxable securities (2)

797,994


7,875


3.95听%


817,392


7,910


3.87听%


825,030


7,889


3.82听%

Temporary investments and interest-bearing cash

1,420,976


15,817


4.46听%


1,493,815


16,394


4.45听%


1,688,602


23,035


5.49听%

Total interest-earning assets (1), (2)

47,870,870


$ 671,795


5.62听%


47,739,860


$ 648,346


5.49听%


48,117,746


$ 696,521


5.80听%

Goodwill and other intangible assets

1,471,975






1,501,590






1,588,239





Other assets

2,209,369






2,211,158






2,275,570





Total assets

$听 51,552,214






$听 51,452,608






$听 51,981,555





INTEREST-BEARING LIABILITIES:


















Interest-bearing demand deposits

$听听 8,479,613


$听听 48,232


2.28听%


$听听 8,370,584


$听听 46,632


2.26听%


$听听 8,147,516


$听听 53,890


2.66听%

Money market deposits

11,783,402


72,409


2.46听%


11,603,140


68,719


2.40听%


10,849,259


76,466


2.83听%

Savings deposits

2,287,433


756


0.13听%


2,350,459


574


0.10听%


2,555,458


929


0.15听%

Time deposits

6,125,997


58,757


3.85听%


6,136,389


60,709


4.01听%


6,488,923


76,022


4.71听%

Total interest-bearing deposits

28,676,445


180,154


2.52听%


28,460,572


176,634


2.52听%


28,041,156


207,307


2.97听%

Repurchase agreements and federal funds purchased

185,424


955


2.06听%


215,962


974


1.83听%


224,973


1,515


2.71听%

Borrowings

3,058,352


34,542


4.53听%


3,039,227


36,074


4.82听%


3,900,000


49,418


5.10听%

Junior and other subordinated debentures

428,348


8,592


8.05听%


437,729


8,566


7.94听%


417,329


9,847


9.49听%

Total interest-bearing liabilities

32,348,569


$ 224,243


2.78听%


32,153,490


$ 222,248


2.80听%


32,583,458


$ 268,087


3.31听%

Non-interest-bearing deposits

13,122,635






13,238,678






13,526,483





Other liabilities

794,448






843,885






963,375





Total liabilities

46,265,652






46,236,053






47,073,316





Common equity

5,286,562






5,216,555






4,908,239





Total liabilities and shareholders' equity

$听 51,552,214






$听 51,452,608






$听 51,981,555





NET INTEREST INCOME (2)



$ 447,552






$ 426,098






$ 428,434



NET INTEREST SPREAD (2)





2.84听%






2.69听%






2.49听%

NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)





3.75听%






3.60听%






3.56听%



(1)

Non-accrual loans and leases are included in the average balance.听 听

(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 $1.1 million for the three months ended June听30, 2025, as compared to $1.1 million for the three months ended March听31, 2025 and $985,000 for the three months ended June听30, 2024.听

听

Columbia Banking System, Inc.

Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates

(Unaudited)


Six Months Ended


June 30, 2025


June 30, 2024

($ in thousands)

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

$听听听听听听听听听听 62,999


$听听听听听听听听 2,044


6.49听%


$听听听听听听听 66,033


$听听听听听听听听 2,153


6.52听%

Loans and leases (1)

37,663,046


1,114,861


5.96听%


37,630,248


1,156,765


6.17听%

Taxable securities

7,814,761


155,240


3.97听%


7,960,102


160,447


4.03听%

Non-taxable securities (2)

807,648


15,785


3.91听%


838,186


15,775


3.76听%

Temporary investments and interest-bearing cash

1,457,145


32,211


4.46听%


1,704,697


46,588


5.50听%

Total interest-earning assets (1), (2)

47,805,599


$听听 1,320,141


5.56听%


48,199,266


$听听 1,381,728


5.75听%

Goodwill and other intangible assets

1,486,692






1,603,686





Other assets

2,210,217






2,229,811





Total assets

$听听听听 51,502,508






$听 52,032,763





INTEREST-BEARING LIABILITIES:












Interest-bearing demand deposits

$听听听听听 8,425,683


$听听听听听听 94,864


2.27听%


$听听 8,091,427


$听听听听 105,268


2.62听%

Money market deposits

11,694,209


141,128


2.43听%


10,730,666


148,963


2.79听%

Savings deposits

2,318,799


1,330


0.12听%


2,621,909


1,644


0.13听%

Time deposits

6,130,653


119,466


3.93听%


6,447,865


149,867


4.67听%

Total interest-bearing deposits

28,569,344


356,788


2.52听%


27,891,867


405,742


2.93听%

Repurchase agreements and federal funds purchased

200,625


1,929


1.94听%


228,320


2,781


2.45听%

Borrowings

3,048,122


70,616


4.67听%


3,910,440


100,693


5.18听%

Junior and other subordinated debentures

433,012


17,158


7.99听%


420,428


19,734


9.44听%

Total interest-bearing liabilities

32,251,103


$听听听听 446,491


2.79听%


32,451,055


$听听听听 528,950


3.28听%

Non-interest-bearing deposits

13,180,478






13,684,032





Other liabilities

819,040






950,619





Total liabilities

46,250,621






47,085,706





Common equity

5,251,887






4,947,057





Total liabilities and shareholders' equity

$听听听听 51,502,508






$听 52,032,763





NET INTEREST INCOME (2)



$听听听听 873,650






$听听听听 852,778



NET INTEREST SPREAD (2)





2.77听%






2.47听%

NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)





3.67听%






3.54听%















(1)

Non-accrual loans and leases are included in the average balance.听 听

(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 $2.2 million for the six months ended June听30, 2025, as compared to $2.0 million for the same period in 2024.听

听

Columbia Banking System, Inc.

Residential Mortgage Banking Activity

(Unaudited)


Quarter Ended


% Change

($ in thousands)

Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year over
Year

Residential mortgage banking revenue:














Origination and sale

$听听听听听听 4,544


$听听听听听听 4,391


$听听听听听听 4,519


$听听听听听听听 5,225


$听听听听听听听 3,452


3听%


32听%

Servicing

5,845


5,855


5,947


6,012


5,952


鈥斕�%


(2)听%

Change in fair value of MSR asset:














Changes due to collection/realization of expected cash flows over time

(3,113)


(3,141)


(3,103)


(3,127)


(3,183)


(1)听%


(2)听%

Changes due to valuation inputs or assumptions

(1,764)


(983)


7,414


(6,540)


1,238


79听%


(242)听%

MSR hedge gain (loss)

1,831


3,212


(7,819)


5,098


(1,611)


(43)听%


nm

Total

$听听听听听听 7,343


$听听听听听听 9,334


$听听听听听听 6,958


$听听听听听听听 6,668


$听听听听听听听 5,848


(21)听%


26听%















Closed loan volume for sale

$听听听 163,759


$听听听 136,084


$听听听 175,046


$听听听 161,094


$听听听 140,875


20听%


16听%

Gain on sale margin

2.77听%


3.23听%


2.58听%


3.24听%


2.45听%


-0.46


0.32















Residential mortgage servicing rights:














Balance, beginning of period

$听听听 105,663


$听听听 108,358


$听听听 101,919


$听听听 110,039


$听听听 110,444


(2)听%


(4)听%

Additions for new MSR capitalized

2,077


1,429


2,128


1,547


1,540


45听%


35听%

Change in fair value of MSR asset:














Changes due to collection/realization of expected cash flows over time

(3,113)


(3,141)


(3,103)


(3,127)


(3,183)


(1)听%


(2)听%

Changes due to valuation inputs or assumptions

(1,764)


(983)


7,414


(6,540)


1,238


79听%


(242)听%

Balance, end of period

$听听听 102,863


$听听听 105,663


$听听听 108,358


$听听听 101,919


$听听听 110,039


(3)听%


(7)听%















Residential mortgage loans serviced for others

$ 7,851,562


$ 7,888,235


$ 7,939,445


$听 7,965,538


$听 8,120,046


鈥斕�%


(3)听%

MSR as % of serviced portfolio

1.31听%


1.34听%


1.36听%


1.28听%


1.36听%


(0.03)


(0.05)


nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

听

Columbia Banking System, Inc.

Residential Mortgage Banking Activity

(Unaudited)


Six Months Ended


% Change

($ in thousands)

Jun 30, 2025


Jun 30, 2024


Year over
Year

Residential mortgage banking revenue:






Origination and sale

$听听听听听听听听听听听 8,935


$听听听听听听听听听听听 6,372


40听%

Servicing

11,700


11,973


(2)听%

Change in fair value of MSR asset:






Changes due to collection/realization of expected cash flows over time

(6,254)


(6,336)


(1)听%

Changes due to valuation inputs or assumptions

(2,747)


4,355


(163)听%

MSR hedge gain (loss)

5,043


(5,882)


nm

Total

$听听听听听听听听听 16,677


$听听听听听听听听听 10,482


59听%







Closed loan volume for sale

$听听听听听听听 299,843


$听听听听听听听 227,778


32听%

Gain on sale margin

2.98听%


2.80听%


0.18







Residential mortgage servicing rights:






Balance, beginning of period

$听听听听听听听 108,358


$听听听听听听听 109,243


(1)听%

Additions for new MSR capitalized

3,506


2,777


26听%

Change in fair value of MSR asset:






Changes due to collection/realization of expected cash flows over time

(6,254)


(6,336)


(1)听%

Changes due to valuation inputs or assumptions

(2,747)


4,355


(163)听%

Balance, end of period

$听听听听听听听 102,863


$听听听听听听听 110,039


(7)听%


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 thousands, except per share data)



Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year
over
Year

Total shareholders' equity

a


$听听听听 5,341,882


$听听听听 5,237,809


$听听听听 5,118,224


$听听听听 5,273,828


$听听听听 4,976,672


2听%


7听%

Less: Goodwill



1,029,234


1,029,234


1,029,234


1,029,234


1,029,234


鈥斕�%


鈥斕�%

Less: Other intangible assets, net



430,443


456,269


484,248


513,303


542,358


(6)听%


(21)听%

Tangible common shareholders' equity

b


$听听听听 3,882,205


$听听听听 3,752,306


$听听听听 3,604,742


$听听听听 3,731,291


$听听听听 3,405,080


3听%


14听%

















Total assets

c


$听 51,901,442


$听 51,519,266


$听 51,576,397


$听 51,908,599


$听 52,047,483


1听%


鈥斕�%

Less: Goodwill



1,029,234


1,029,234


1,029,234


1,029,234


1,029,234


鈥斕�%


鈥斕�%

Less: Other intangible assets, net



430,443


456,269


484,248


513,303


542,358


(6)听%


(21)听%

Tangible assets

d


$听 50,441,765


$听 50,033,763


$听 50,062,915


$听 50,366,062


$听 50,475,891


1听%


鈥斕�%

Common shares outstanding at period end

e


210,213


210,112


209,536


209,532


209,459


鈥斕�%


鈥斕�%

















Total shareholders' equity to total assets ratio

a / c


10.29听%


10.17听%


9.92听%


10.16听%


9.56听%


0.12


0.73

Tangible common equity to tangible assets ratio

b / d


7.70听%


7.50听%


7.20听%


7.41听%


6.75听%


0.20


0.95

Book value per common share

a / e


$听听听听听听听听听听听听听 25.41


$听听听听听听听听听听听听听 24.93


$听听听听听听听听听听听听听 24.43


$听听听听听听听听听听听听听 25.17


$听听听听听听听听听听听听听 23.76


2听%


7听%

Tangible book value per common share

b / e


$听听听听听听听听听听听听听 18.47


$听听听听听听听听听听听听听 17.86


$听听听听听听听听听听听听听 17.20


$听听听听听听听听听听听听听 17.81


$听听听听听听听听听听听听听 16.26


3听%


14听%

听

Columbia Banking System, Inc.

GAAP to Non-GAAP Reconciliation - Continued

Income Statements, as adjusted

(Unaudited)




Quarter Ended


% Change

($ in thousands)



Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year
over
Year

Non-Interest Income Adjustments
















Gain (loss) on sale of debt securities, net



$听听听听听听听听听听听听听听听听听听听听听听听听听 1


$听听听听听听听听听听听听听听听听听听听听听听听听听 4


$听听听听听听听听听听听听听听听听听听听听听听 10


$听听听听听听听听听听听听听听听听听听听听听听听听听 3


$听听听听听听听听听听听听听听听听听听听听听听听 (1)


(75)听%


nm

Gain (loss) on equity securities, net



410


1,702


(1,424)


2,272


325


(76)听%


26听%

(Loss) gain on swap derivatives



(1,330)


(1,494)


3,642


(3,596)


424


(11)听%


(414)听%

Gain (loss) on loans held for investment, at fair value



212


7,016


(7,355)


9,365


(10,114)


(97)听%


nm

Change in fair value of MSR due to valuation inputs or assumptions



(1,764)


(983)


7,414


(6,540)


1,238


79听%


(242)听%

MSR hedge gain (loss)



1,831


3,212


(7,819)


5,098


(1,611)


(43)听%


nm

Total non-interest income adjustments

a


$听听听听听听听听听听听听听听听听听听 (640)


$听听听听听听听听听听听听听听听听 9,457


$听听听听听听听听听听听听听听 (5,532)


$听听听听听听听听听听听听听听听听 6,602


$听听听听听听听听听听听听听听 (9,739)


(107)听%


(93)听%

















Non-Interest Expense Adjustments
















Merger and restructuring expense



$听听听听听听听听听听听听听听听听 8,186


$听听听听听听听听听听听听听听 14,379


$听听听听听听听听听听听听听听听听 2,230


$听听听听听听听听听听听听听听听听 2,364


$听听听听听听听听听听听听听听 14,641


(43)听%


(44)听%

Exit and disposal costs



387


661


872


631


1,218


(41)听%


(68)听%

听听听 FDIC special assessment



鈥�


鈥�


鈥�


鈥�


884


nm


(100)听%

Legal settlement



鈥�


55,000


鈥�


鈥�


鈥�


(100)听%


nm

Total non-interest expense adjustments

b


$听听听听听听听听听听听听听听听听 8,573


$听听听听听听听听听听听听听听 70,040


$听听听听听听听听听听听听听听听听 3,102


$听听听听听听听听听听听听听听听听 2,995


$听听听听听听听听听听听听听听 16,743


(88)听%


(49)听%

















Net interest income

c


$听听听听听听听听听听听 446,446


$听听听听听听听听听听听 424,995


$听听听听听听听听听听听 437,373


$听听听听听听听听听听听 430,218


$听听听听听听听听听听听 427,449


5听%


4听%

















Non-interest income (GAAP)

d


$听听听听听听听听听听听听听听 64,462


$听听听听听听听听听听听听听听 66,377


$听听听听听听听听听听听听听听 49,747


$听听听听听听听听听听听听听听 66,159


$听听听听听听听听听听听听听听 44,703


(3)听%


44听%

Less: Non-interest income adjustments

a


640


(9,457)


5,532


(6,602)


9,739


nm


(93)听%

Operating non-interest income (non-GAAP)

e


$听听听听听听听听听听听听听听 65,102


$听听听听听听听听听听听听听听 56,920


$听听听听听听听听听听听听听听 55,279


$听听听听听听听听听听听听听听 59,557


$听听听听听听听听听听听听听听 54,442


14听%


20听%

















Revenue (GAAP)

f=c+d


$听听听听听听听听听听听 510,908


$听听听听听听听听听听听 491,372


$听听听听听听听听听听听 487,120


$听听听听听听听听听听听 496,377


$听听听听听听听听听听听 472,152


4听%


8听%

Operating revenue (non-GAAP)

g=c+e


$听听听听听听听听听听听 511,548


$听听听听听听听听听听听 481,915


$听听听听听听听听听听听 492,652


$听听听听听听听听听听听 489,775


$听听听听听听听听听听听 481,891


6听%


6听%

















Non-interest expense (GAAP)

h


$听听听听听听听听听听听 277,995


$听听听听听听听听听听听 340,122


$听听听听听听听听听听听 266,576


$听听听听听听听听听听听 271,358


$听听听听听听听听听听听 279,244


(18)听%


鈥斕�%

Less: Non-interest expense adjustments

b


(8,573)


(70,040)


(3,102)


(2,995)


(16,743)


(88)听%


(49)听%

Operating non-interest expense (non-GAAP)

i


$听听听听听听听听听听听 269,422


$听听听听听听听听听听听 270,082


$听听听听听听听听听听听 263,474


$听听听听听听听听听听听 268,363


$听听听听听听听听听听听 262,501


鈥斕�%


3听%

















Net income (GAAP)

j


$听听听听听听听听听听听 152,423


$听听听听听听听听听听听听听听 86,609


$听听听听听听听听听听听 143,269


$听听听听听听听听听听听 146,182


$听听听听听听听听听听听 120,144


76听%


27听%

Provision for income taxes



51,041


37,238


49,076


50,068


40,944


37听%


25听%

Income before provision for income taxes



203,464


123,847


192,345


196,250


161,088


64听%


26听%

Provision for credit losses



29,449


27,403


28,199


28,769


31,820


7听%


(7)听%

Pre-provision net revenue (PPNR) (non-GAAP)

k


232,913


151,250


220,544


225,019


192,908


54听%


21听%

Less: Non-interest income adjustments

a


640


(9,457)


5,532


(6,602)


9,739


nm


(93)听%

Add: Non-interest expense adjustments

b


8,573


70,040


3,102


2,995


16,743


(88)听%


(49)听%

Operating PPNR (non-GAAP)

l


$听听听听听听听听听听听 242,126


$听听听听听听听听听听听 211,833


$听听听听听听听听听听听 229,178


$听听听听听听听听听听听 221,412


$听听听听听听听听听听听 219,390


14听%


10听%

















Net income (GAAP)

j


$听听听听听听听听听听听 152,423


$听听听听听听听听听听听听听听 86,609


$听听听听听听听听听听听 143,269


$听听听听听听听听听听听 146,182


$听听听听听听听听听听听 120,144


76听%


27听%

Less: Non-interest income adjustments

a


640


(9,457)


5,532


(6,602)


9,739


nm


(93)听%

Add: Non-interest expense adjustments

b


8,573


70,040


3,102


2,995


16,743


(88)听%


(49)听%

Tax effect of adjustments



(1,367)


(7,419)


(2,158)


902


(6,621)


(82)听%


(79)听%

Operating net income (non-GAAP)

m


$听听听听听听听听听听听 160,269


$听听听听听听听听听听听 139,773


$听听听听听听听听听听听 149,745


$听听听听听听听听听听听 143,477


$听听听听听听听听听听听 140,005


15听%


14听%


nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

听

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 thousands, except per share data)



Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year
over
Year

Average assets

n


$听 51,552,214


$听 51,452,608


$听 51,588,231


$ 52,009,017


$听 51,981,555


鈥斕�%


(1)听%

Less: Average goodwill and other intangible assets, net



1,471,975


1,501,590


1,528,431


1,559,696


1,588,239


(2)听%


(7)听%

Average tangible assets

o


$听 50,080,239


$听 49,951,018


$听 50,059,800


$ 50,449,321


$听 50,393,316


鈥斕�%


(1)听%

















Average common shareholders' equity

p


$听听听听 5,286,562


$听听听听 5,216,555


$听听听听 5,226,290


$听听听 5,118,592


$听听听听 4,908,239


1听%


8听%

Less: Average goodwill and other intangible assets, net



1,471,975


1,501,590


1,528,431


1,559,696


1,588,239


(2)听%


(7)听%

Average tangible common equity

q


$听听听听 3,814,587


$听听听听 3,714,965


$听听听听 3,697,859


$听听听 3,558,896


$听听听听 3,320,000


3听%


15听%

















Weighted average basic shares outstanding

r


209,125


208,800


208,548


208,545


208,498


鈥斕�%


鈥斕�%

Weighted average diluted shares outstanding

s


209,975


210,023


209,889


209,454


209,011


鈥斕�%


鈥斕�%

















Select Per-Share & Performance Metrics
















Earnings per share - basic

j / r


$听听听听听听听听听听听听听听听 0.73


$听听听听听听听听听听听听听听听 0.41


$听听听听听听听听听听听听听听听 0.69


$听听听听听听听听听听听听听听 0.70


$听听听听听听听听听听听听听听听 0.58


78听%


26听%

Earnings per share - diluted

j / s


$听听听听听听听听听听听听听听听 0.73


$听听听听听听听听听听听听听听听 0.41


$听听听听听听听听听听听听听听听 0.68


$听听听听听听听听听听听听听听 0.70


$听听听听听听听听听听听听听听听 0.57


78听%


28听%

Efficiency ratio (1)

h / f


54.29听%


69.06听%


54.61听%


54.56听%


59.02听%


(14.77)


(4.73)

Non-interest expense to average assets

h / n


2.16听%


2.68听%


2.06听%


2.08听%


2.16听%


(0.52)


鈥�

Return on average assets

j / n


1.19听%


0.68听%


1.10听%


1.12听%


0.93听%


0.51


0.26

Return on average tangible assets

j / o


1.22听%


0.70听%


1.14听%


1.15听%


0.96听%


0.52


0.26

PPNR return on average assets

k / n


1.81听%


1.19听%


1.70听%


1.72听%


1.49听%


0.62


0.32

Return on average common equity

j / p


11.56听%


6.73听%


10.91听%


11.36听%


9.85听%


4.83


1.71

Return on average tangible common equity

j / q


16.03听%


9.45听%


15.41听%


16.34听%


14.55听%


6.58


1.48

















Operating Per-Share & Performance Metrics
















Operating earnings per share - basic听

m / r


$听听听听听听听听听听听听听听听 0.77


$听听听听听听听听听听听听听听听 0.67


$听听听听听听听听听听听听听听听 0.72


$听听听听听听听听听听听听听听 0.69


$听听听听听听听听听听听听听听听 0.67


15听%


15听%

Operating earnings per share - diluted

m / s


$听听听听听听听听听听听听听听听 0.76


$听听听听听听听听听听听听听听听 0.67


$听听听听听听听听听听听听听听听 0.71


$听听听听听听听听听听听听听听 0.69


$听听听听听听听听听听听听听听听 0.67


13听%


13听%

Operating efficiency ratio, as adjusted (1)

u / y


51.79听%


55.11听%


52.51听%


53.89听%


53.56听%


(3.32)


(1.77)

Operating non-interest expense to average assets

i / n


2.10听%


2.13听%


2.03听%


2.05听%


2.03听%


(0.03)


0.07

Operating return on average assets

m / n


1.25听%


1.10听%


1.15听%


1.10听%


1.08听%


0.15


0.17

Operating return on average tangible assets

m / o


1.28听%


1.13听%


1.19听%


1.13听%


1.12听%


0.15


0.16

Operating PPNR return on average assets

l / n


1.88听%


1.67听%


1.77听%


1.69听%


1.70听%


0.21


0.18

Operating return on average common equity

m / p


12.16听%


10.87听%


11.40听%


11.15听%


11.47听%


1.29


0.69

Operating return on average tangible common equity

m / q


16.85听%


15.26听%


16.11听%


16.04听%


16.96听%


1.59


(0.11)



(1)

Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

听

Columbia Banking System, Inc.

GAAP to Non-GAAP Reconciliation - Continued

Operating Efficiency Ratio, as adjusted

(Unaudited)




Quarter Ended


% Change

($ in thousands)



Jun 30, 2025


Mar 31, 2025


Dec 31, 2024


Sep 30, 2024


Jun 30, 2024


Seq.
Quarter


Year
over
Year

Non-interest expense (GAAP)

h


$听听听听听听听 277,995


$听听听听听听听 340,122


$听听听听听听听 266,576


$听听听听听听听 271,358


$听听听听听听听 279,244


(18)听%


鈥斕�%

Less: Non-interest expense adjustments

b


(8,573)


(70,040)


(3,102)


(2,995)


(16,743)


(88)听%


(49)听%

Operating non-interest expense (non-GAAP)

i


269,422


270,082


263,474


268,363


262,501


鈥斕�%


3听%

Less: B&O taxes

t


(3,093)


(3,150)


(3,495)


(3,248)


(3,183)


(2)听%


(3)听%

Operating non-interest expense, excluding B&O taxes (non-GAAP)

u


$听听听听听听听 266,329


$听听听听听听听 266,932


$听听听听听听听 259,979


$听听听听听听听 265,115


$听听听听听听听 259,318


鈥斕�%


3听%

















Net interest income (tax equivalent) (1)

v


$听听听听听听听 447,552


$听听听听听听听 426,098


$听听听听听听听 438,424


$听听听听听听听 431,184


$听听听听听听听 428,434


5听%


4听%

Non-interest income (GAAP)

d


64,462


66,377


49,747


66,159


44,703


(3)听%


44听%

Add: BOLI tax equivalent adjustment (1)

w


1,608


1,362


1,390


1,248


1,291


18听%


25听%

Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent)

x


513,622


493,837


489,561


498,591


474,428


4听%


8听%

Less: Non-interest income adjustments

a


640


(9,457)


5,532


(6,602)


9,739


nm


(93)听%

Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)

y


$听听听听听听听 514,262


$听听听听听听听 484,380


$听听听听听听听 495,093


$听听听听听听听 491,989


$听听听听听听听 484,167


6听%


6听%

















Efficiency ratio (1)

h / f


54.29听%


69.06听%


54.61听%


54.56听%


59.02听%


(14.77)


(4.73)

Operating efficiency ratio, as adjusted (non-GAAP) (1)

u / y


51.79听%


55.11听%


52.51听%


53.89听%


53.56听%


(3.32)


(1.77)



nm

= Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."



(1)

Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

听

Columbia Banking System, Inc.









GAAP to Non-GAAP Reconciliation - Continued









Income Statements, as adjusted









(Unaudited)












Six Months Ended


% Change









($ in thousands)



Jun 30, 2025


Jun 30, 2024


Year over Year









Non-Interest Income Adjustments
















Gain on sale of debt securities, net



$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 5


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 11


(55)听%









Gain (loss) on equity securities, net



2,112


(1,240)


nm









(Loss) gain on swap derivatives



(2,824)


1,621


(274)听%









Gain (loss) on loans held for investment, at fair value



7,228


(12,486)


nm









Change in fair value of MSR due to valuation inputs or assumptions



(2,747)


4,355


(163)听%









听听 MSR hedge loss



5,043


(5,882)


nm









Total non-interest income adjustments

a


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听 8,817


$听听听听听听听听听听听听听听听听听听听听听听听 (13,621)


nm

























Non-Interest Expense Adjustments
















Merger and restructuring expense



$听听听听听听听听听听听听听听听听听听听听听听听听听听 22,565


$听听听听听听听听听听听听听听听听听听听听听听听听听听 19,119


18听%









Exit and disposal costs



1,048


2,490


(58)听%









听听听 FDIC special assessment听



鈥�


5,732


(100)听%









Legal settlement



55,000


鈥�


nm









Total non-interest expense adjustments

b


$听听听听听听听听听听听听听听听听听听听听听听听听听听 78,613


$听听听听听听听听听听听听听听听听听听听听听听听听听听 27,341


188听%

























Net interest income

c


$听听听听听听听听听听听听听听听听听听听听听听听 871,441


$听听听听听听听听听听听听听听听听听听听听听听听 850,811


2听%

























Non-interest income (GAAP)

d


$听听听听听听听听听听听听听听听听听听听听听听听 130,839


$听听听听听听听听听听听听听听听听听听听听听听听听听听 95,060


38听%









Less: Non-interest income adjustments

a


(8,817)


13,621


(165)听%









Operating non-interest income (non-GAAP)

e


$听听听听听听听听听听听听听听听听听听听听听听听 122,022


$听听听听听听听听听听听听听听听听听听听听听听听 108,681


12听%

























Revenue (GAAP)

f=c+d


$听听听听听听听听听听听听听听听听听听听 1,002,280


$听听听听听听听听听听听听听听听听听听听听听听听 945,871


6听%









Operating revenue (non-GAAP)

g=c+e


$听听听听听听听听听听听听听听听听听听听听听听听 993,463


$听听听听听听听听听听听听听听听听听听听听听听听 959,492


4听%

























Non-interest expense (GAAP)

h


$听听听听听听听听听听听听听听听听听听听听听听听 618,117


$听听听听听听听听听听听听听听听听听听听听听听听 566,760


9听%









Less: Non-interest expense adjustments

b


(78,613)


(27,341)


188听%









Operating non-interest expense (non-GAAP)

i


$听听听听听听听听听听听听听听听听听听听听听听听 539,504


$听听听听听听听听听听听听听听听听听听听听听听听 539,419


鈥斕�%

























Net income (GAAP)

j


$听听听听听听听听听听听听听听听听听听听听听听听 239,032


$听听听听听听听听听听听听听听听听听听听听听听听 244,224


(2)听%









Provision for income taxes



88,279


85,931


3听%









Income before provision for income taxes



327,311


330,155


(1)听%









Provision for credit losses



56,852


48,956


16听%









Pre-provision net revenue (PPNR) (non-GAAP)

k


384,163


379,111


1听%









Less: Non-interest income adjustments

a


(8,817)


13,621


(165)听%









Add: Non-interest expense adjustments

b


78,613


27,341


188听%









Operating PPNR (non-GAAP)

l


$听听听听听听听听听听听听听听听听听听听听听听听 453,959


$听听听听听听听听听听听听听听听听听听听听听听听 420,073


8听%

























Net income (GAAP)

j


$听听听听听听听听听听听听听听听听听听听听听听听 239,032


$听听听听听听听听听听听听听听听听听听听听听听听 244,224


(2)听%









Less: Non-interest income adjustments

a


(8,817)


13,621


(165)听%









Add: Non-interest expense adjustments

b


78,613


27,341


188听%









Tax effect of adjustments



(8,786)


(10,241)


(14)听%









Operating net income (non-GAAP)

m


$听听听听听听听听听听听听听听听听听听听听听听听 300,042


$听听听听听听听听听听听听听听听听听听听听听听听 274,945


9听%


















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)












Six Months Ended


% Change












Jun 30, 2025


Jun 30, 2024


Year over Year









Average assets

n


$听听听听听听听听听听听听听听听听听 51,502,508


$听听听听听听听听听听听听听听听听听 52,032,763


(1)听%









Less: Average goodwill and other intangible assets, net



1,486,692


1,603,686


(7)听%









Average tangible assets

o


$听听听听听听听听听听听听听听听听听 50,015,816


$听听听听听听听听听听听听听听听听听 50,429,077


(1)听%

























Average common shareholders' equity

p


$听听听听听听听听听听听听听听听听听听听 5,251,887


$听听听听听听听听听听听听听听听听听听听 4,947,057


6听%









Less: Average goodwill and other intangible assets, net



1,486,692


1,603,686


(7)听%









Average tangible common equity

q


$听听听听听听听听听听听听听听听听听听听 3,765,195


$听听听听听听听听听听听听听听听听听听听 3,343,371


13听%

























Weighted average basic shares outstanding

r


208,964


208,379


鈥斕�%









Weighted average diluted shares outstanding

s


209,965


208,999


鈥斕�%

























Select Per-Share & Performance Metrics
















Earnings per share - basic

j / r


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.14


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.17


(3)听%









Earnings per share - diluted

j / s


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.14


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.17


(3)听%









Efficiency ratio (1)

h / f


61.54听%


59.80听%


1.74









Non-interest expense to average assets

h/n


2.42听%


2.19听%


0.23









Return on average assets

j / n


0.94听%


0.94听%


鈥�









Return on average tangible assets

j / o


0.96听%


0.97听%


(0.01)









PPNR return on average assets

k/n


1.50听%


1.47听%


0.03









Return on average common equity

j / p


9.18听%


9.93听%


(0.75)









Return on average tangible common equity

j / q


12.80听%


14.69听%


(1.89)

























Operating Per-Share & Performance Metrics
















Operating earnings per share - basic听

m / r


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.44


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.32


9听%









Operating earnings per share - diluted

m / s


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.43


$听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听听 1.32


8听%









Operating efficiency ratio, as adjusted (1)

u / y


53.40听%


55.26听%


(1.86)









Operating non-interest expense to average assets

i/n


2.11听%


2.08听%


0.03









Operating return on average assets听

m / n


1.17听%


1.06听%


0.11









Operating return on average tangible assets听

m / o


1.21听%


1.10听%


0.11









Operating PPNR return on average assets听

l / n


1.78听%


1.62听%


0.16









Operating return on average common equity听

m / p


11.52听%


11.18听%


0.34









Operating return on average tangible common equity听

m / q


16.07听%


16.54听%


(0.47)











(1)

Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

听

Columbia Banking System, Inc.

GAAP to Non-GAAP Reconciliation - Continued

Operating Efficiency Ratio, as adjusted

(Unaudited)




Six Months Ended


% change

($ in thousands)



Jun 30, 2025


Jun 30, 2024


Year over Year

Non-interest expense (GAAP)

h


$听听听听听听听听听听听听听听听听听听听听听听听 618,117


$听听听听听听听听听听听听听听听听听听听听听听听 566,760


9听%

Less: Non-interest expense adjustments

b


(78,613)


(27,341)


188听%

Operating non-interest expense (non-GAAP)

i


539,504


539,419


鈥斕�%

Less: B&O taxes

t


(6,243)


(6,406)


(3)听%

Operating non-interest expense, excluding B&O taxes (non-GAAP)

u


$听听听听听听听听听听听听听听听听听听听听听听听 533,261


$听听听听听听听听听听听听听听听听听听听听听听听 533,013


鈥斕�%









Net interest income (tax equivalent) (1)

v


$听听听听听听听听听听听听听听听听听听听听听听听 873,650


$听听听听听听听听听听听听听听听听听听听听听听听 852,778


2听%

Non-interest income (GAAP)

d


130,839


95,060


38听%

Add: BOLI tax equivalent adjustment (1)

w


2,970


3,100


(4)听%

Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent)

x


1,007,459


950,938


6听%

Less: Non-interest income adjustments

a


(8,817)


13,621


(165)听%

Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)

y


$听听听听听听听听听听听听听听听听听听听听听听听 998,642


$听听听听听听听听听听听听听听听听听听听听听听听 964,559


4听%









Efficiency ratio (1)

h /f


61.54听%


59.80听%


1.74

Operating efficiency ratio, as adjusted (non-GAAP) (1)

u / y


53.40听%


55.26听%


(1.86)



(1)

Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

听

Cision View original content to download multimedia:

SOURCE Columbia Banking System, Inc.

FAQ

What were Columbia Banking System's (COLB) Q2 2025 earnings per share?

Columbia reported diluted earnings per share of $0.73, with operating earnings per share of $0.76 for Q2 2025.

What is Columbia Banking System's (COLB) net interest margin in Q2 2025?

Columbia's net interest margin was 3.75%, an increase of 15 basis points from the previous quarter.

How much are Columbia Banking System's (COLB) total assets in Q2 2025?

Columbia reported total assets of $51.9 billion as of June 30, 2025, up from $51.5 billion in the previous quarter.

What is the status of Columbia Banking System's acquisition of Pacific Premier?

The acquisition received shareholder approval from both companies on July 21, 2025, and is expected to close by September 1, 2025, pending regulatory approvals.

What is Columbia Banking System's (COLB) dividend payment for Q2 2025?

Columbia declared a quarterly cash dividend of $0.36 per common share, which was paid on June 16, 2025.

What was Columbia Banking System's (COLB) deposit performance in Q2 2025?

Total deposits were $41.7 billion, decreasing by $475 million from Q1 due to seasonal tax payments and customer cash usage, though a deposit campaign brought in $450 million in new deposits.
Stock COLB logo
Columbia Bank

NASDAQ:COLB

COLB Rankings

#1798 Ranked by Market Cap
#538 Ranked by Dividends

COLB Latest News

Jul 21, 2025
Columbia Banking System and Pacific Premier Bancorp Announce Shareholder and Stockholder Approval for Proposed Acquisition
Jun 30, 2025
Columbia Banking System Announces Date of Second Quarter 2025 Earnings Release and Conference Call
Jun 17, 2025
Umpqua Bank 2025 Business Barometer: U.S. Businesses Report Steady Outlook Amid Tariff, Economic Uncertainty
May 16, 2025
Columbia Banking System Announces $0.36 Per Common Share Dividend
May 15, 2025
Umpqua Bank Appoints Judi Giem as Executive Vice President, Chief Human Resource Officer

COLB Latest SEC Filings

Jul 24, 2025
[8-K] Columbia Banking Systems Inc Reports Material Event
Jul 23, 2025
[Form 4] Columbia Banking Systems Inc Insider Trading Activity
Jul 21, 2025
[8-K] Columbia Banking Systems Inc Reports Material Event
Jul 11, 2025
[8-K] Columbia Banking Systems Inc Reports Material Event
Jun 30, 2025
[8-K] Columbia Banking Systems Inc Reports Material Event

COLB Stock Data

5.12B
208.58M
0.61%
94.92%
3.45%
Banks - Regional
State Commercial Banks
United States
TACOMA

Related Articles

Continue reading with these related stories

View All Latest News