Columbia Banking System Inc

Latest Results (03.04.2026):

Columbia Banking System, Inc. reported results for the fourth quarter of 2025. The company reported net income of $215 million (operating net income reported at $243 million) and diluted earnings per share of $0.72 (operating diluted EPS $0.82). Results were supported by the August 31, 2025 acquisition of Pacific Premier, strong net interest income, and balance sheet/ funding mix improvements as the company completed the year and prepared for a systems conversion in early 2026.

Earnings

Net income was $215 million in 4Q25 (operating net income $243 million per the company's non‑GAAP disclosure). Diluted EPS was $0.72 (operating diluted EPS $0.82). Quarterly net income rose materially versus 3Q25 (net income $96 million in 3Q25).

Net interest income and margin

Net interest income was $627 million in 4Q25, up $122 million sequentially, driven by two additional months of Pacific Premier contribution and lower funding costs. Net interest margin improved to 4.06% (up 22 bps versus 3Q25).

Non‑interest income and expenses

Non‑interest income was $90 million (up $13 million sequentially; excluding fair value/MSR/hedge items the increase was $16 million). Non‑interest expense was $412 million (up $19 million sequentially); operating/non‑GAAP adjusted non‑interest expense was $373 million, reflecting Pacific Premier run‑rate and other items. Reported efficiency ratio was 57.30% (operating efficiency, adjusted, 51.39%).

Balance sheet and liquidity

Total assets were $66.8 billion at 12/31/2025. Gross loans and leases were $47.8 billion and total deposits were $54.2 billion. Cash and available liquidity remained strong — total available liquidity (including secured off‑balance sheet lines) was $27.9 billion (~42% of assets).

Credit quality

Allowance for credit losses totaled $485 million (1.02% of loans and leases) at quarter end. Net charge‑offs were 0.25% annualized for 4Q25. Non‑performing assets were $200 million, or 0.30% of total assets.

Capital and shareholder actions

Estimated total risk‑based capital ratio was 13.6% and estimated CET1 was 11.8% (both up versus 9/30/2025 estimates). The board declared a $0.37 quarterly cash dividend (paid 12/15/2025) and repurchased $100 million of common stock in the quarter (3.7 million shares at an average $27.07).

Acquisition, integration & outlook

Columbia closed the Pacific Premier acquisition on August 31, 2025; integration is progressing and a systems conversion and branch consolidations are on track for Q1 2026, with all related cost savings expected to be realized by June 30, 2026. Management emphasized continued balance sheet optimization, healthy pipelines, and ongoing capital returns to shareholders.