Columbia Banking System Inc

COLB

Equity

ISIN US1972361026 / Valor 768354

NASDAQ (2024-12-26)

USD 27.50-0.25%

Columbia Banking System Inc
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About company

Columbia Banking System Inc, headquartered in Tacoma, Washington, is the parent company of Umpqua Bank, a regional bank based in Lake Oswego, Oregon. The two institutions combined in March 2023 to create one of the largest banks in the West with over $50 billion in assets. Umpqua Bank offers a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Additionally, customers have access to investment and wealth management expertise through Columbia Wealth Advisors and Columbia Trust Company. Operating in several states in the western U.S., the bank is committed to providing superior, personalized service to consumers and businesses.

Summarized from source with an LLMView SourceSector: Finance

Net Income

Columbia Banking System Inc. reported a net income of $146 million for the third quarter of 2024. This reflects the company's ongoing efforts to streamline operations and reduce costs, contributing to a solid financial performance during the quarter.

Operating Net Income

The operating net income for Columbia Banking System Inc. in the third quarter of 2024 was $143 million. This figure highlights the company's ability to maintain strong operational performance despite challenges in the broader economic environment.

Earnings Per Share

For the third quarter of 2024, Columbia Banking System Inc. reported earnings per diluted common share of $0.70. The operating earnings per diluted common share were slightly lower at $0.69, indicating consistent profitability for the company.

Net Interest Income

Columbia Banking System Inc. achieved a net interest income of $430 million in the third quarter of 2024, marking an increase of $3 million from the previous quarter. This growth was driven by higher income earned on loans, despite a reduction in accretion income.

Dividends

In the third quarter of 2024, Columbia Banking System Inc. declared a quarterly cash dividend of $0.36 per common share. This dividend was paid on September 9, 2024, reflecting the company's commitment to returning value to its shareholders.

Summarized from source with an LLMView Source

Key figures

2.00%1Y

-15.0%3Y

-33.1%5Y

Performance

43.5%1Y

41.1%3Y

46.3%5Y

Volatility