Columbia Banking System, Inc 8-K, filed Oct 22, 2026

Columbia Banking System, Inc. (COLB)

8-K 2026-10-22 For: 2026-10-22

Added on October 22, 2026

About this 8-K

Columbia Banking System, Inc filed this 8-K on October 22, 2026.

Columbia Banking System, Inc. reported third-quarter 2026 net interest income of $615 million and a 4.11% net interest margin; its board authorized a new share repurchase plan of up to $1.2 billion. AI summary

Items reported

Item 2.02: Financial results
Item 7.01: Regulation FD disclosure
Item 9.01: Financial statements and exhibits

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Washington	000-20288	91-1422237
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification Number)


TITLE OF EACH CLASS	TRADING SYMBOL	NAME OF EXCHANGE
Common Stock, No Par Value	COLB	The Nasdaq Stock Market LLC


Item 9.01			Financial Statements and Exhibits.
(d)			EXHIBITS
			99.1 Press Release announcing third quarter 2026 financial results dated October 22, 2026
			99.2 Third Quarter 2026 Investor Presentation
			104 Cover Page Interactive Data File (embedded within the Inline XBRL document)


3Q26 HIGHLIGHTS (COMPARED TO 2Q26)

Net Interest Income and NIM			•Net interest income increased by $26 million from the prior quarter, due to higher income on loans and investment securities and lower funding costs.
			•Net interest margin was 4.11%, up 18 basis points from the prior quarter, due to higher yields on loans and investment securities and a favorable funding mix shift, as growth in customer deposits was used to pay down wholesale funding sources.

Non-Interest Income and Expense			•Non-interest income decreased by $8 million. Excluding the impact of fair value and hedges,1 non-interest income decreased by $4 million, due primarily to $3 million of death benefit proceeds recorded during the second quarter related to a single policy that did not recur in the third quarter.
			•Non-interest expense decreased by $5 million, due to lower merger expense.

Credit Quality			•Net charge-offs were 0.24% of average loans and leases (annualized), compared to 0.25% for the prior quarter.
			•Provision expense was $33 million, compared to $27 million for the prior quarter.
			•Non-performing assets to total assets ratio was 0.39%, compared to 0.42% as of June 30, 2026.

Capital			•Estimated total risk-based capital ratio of 13.8% and estimated common equity tier 1 risk-based capital ratio of 11.5%.
			•Declared a quarterly cash dividend of $0.37 per common share on August 14, 2026, which was paid September 14, 2026.
			•Repurchased $199 million of common stock, completing our previously announced repurchase plan.

Notable Items			•Our second customer deposit campaign of 2026, which began in June and ended in mid-August, brought over $700 million in new deposits to the bank.
			•Our Board of Directors authorized the repurchase of up to $1.2 billion of common stock under a new repurchase plan, which has no expiration date.


3Q26 KEY FINANCIAL DATA

PERFORMANCE METRICS	3Q26	2Q26	3Q25
Return on average assets	1.34%	1.27%	0.67%
Return on average common equity	11.78%	10.99%	6.19%
Return on average tangible common equity1	16.43%	15.29%	8.58%
Operating return on average assets1	1.40%	1.33%	1.42%
Operating return on average common equity1	12.27%	11.46%	13.15%
Operating return on average tangible common equity1	17.11%	15.95%	18.24%
Net interest margin	4.11%	3.93%	3.84%
Efficiency ratio	53.08%	55.15%	67.29%
Operating efficiency ratio, as adjusted 1	51.34%	52.92%	52.32%

INCOME STATEMENT ($ in millions, excl. per share data)	3Q26	2Q26	3Q25
Net interest income	$615	$589	$505
Provision for credit losses	$33	$27	$70
Non-interest income	$80	$88	$77
Non-interest expense	$370	$375	$393
Pre-provision net revenue1	$325	$302	$189
Operating pre-provision net revenue1	$337	$314	$270
Earnings per common share - diluted	$0.78	$0.73	$0.40
Operating earnings per common share - diluted1	$0.82	$0.76	$0.85
Dividends paid per share	$0.37	$0.37	$0.36

BALANCE SHEET ($ in millions, excl. per share data)	3Q26	2Q26	3Q25
Total assets	$65,135	$65,380	$67,496
Loans and leases	$46,915	$47,166	$48,462
Deposits	$52,740	$52,056	$55,771
Book value per common share	$25.62	$26.70	$26.04
Tangible book value per common share1	$18.10	$19.22	$18.57


			Columbia Banking System, Inc. (Registrant)

Dated: October 22, 2026			By: /s/ Ivan A. Seda Ivan A. Seda Executive Vice President, Chief Financial Officer


CEO Commentary
"Our third quarter performance demonstrates the benefits of consistent execution and active balance sheet management," said Clint Stein, Chairman, CEO & President. "By remaining focused on relationship-driven growth, prudent loan and deposit pricing, and operational discipline, we continued to improve our profitability while maintaining strong credit quality and returning excess capital. Over the past year, we returned over $1 billion to our shareholders through dividends and share repurchases, completing our existing buyback authorization in the process. Our Board of Directors has authorized a new $1.2 billion share repurchase program, reflecting confidence in our long-term strategy and our outlook for continued excess capital generation. We remain focused on growing our franchise in ways that strengthen customer relationships, enhance the quality of our balance sheet, and support attractive long-term returns for our shareholders."
Clint Stein, Chairman, CEO & President of Columbia Banking System, Inc.


			TABLE INDEX
						Page
			Consolidated Statements of Income			7
			Consolidated Balance Sheets			9
			Financial Highlights			10
			Loan & Lease Portfolio Balances and Mix			12
			Deposit Portfolio Balances and Mix			13
			Credit Quality - Non-performing Assets			14
			Credit Quality - Allowance for Credit Losses			15
			Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates			17
			Residential Mortgage Banking Activity			19
			GAAP to Non-GAAP Reconciliation			21


Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
	Quarter Ended										% Change
($ in millions, shares in thousands)	Sep 30, 2026		Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Seq. Quarter		Year over Year
Interest income:
Loans and leases	$	699	$	683	$	684	$	722	$	619	2	%	13	%
Interest and dividends on investments:
Taxable	105		98		103		102		89		7	%	18	%
Exempt from federal income tax	11		12		12		12		8		(8)	%	38	%
Dividends	4		4		3		3		4		—	%	—	%
Temporary investments and interest bearing deposits	13		13		14		19		20		—	%	(35)	%
Total interest income	832		810		816		858		740		3	%	12	%
Interest expense:
Deposits	171		173		184		195		195		(1)	%	(12)	%
Securities sold under agreement to repurchase and federal funds purchased	—		1		1		1		1		(100)	%	(100)	%
Borrowings	38		39		30		27		30		(3)	%	27	%
Subordinated and junior subordinated debentures	8		8		7		8		9		—	%	(11)	%
Total interest expense	217		221		222		231		235		(2)	%	(8)	%
Net interest income	615		589		594		627		505		4	%	22	%
Provision for credit losses	33		27		28		23		70		22	%	(53)	%
Non-interest income:
Service charges on deposits	24		23		20		24		21		4	%	14	%
Card-based fees	17		17		15		16		15		—	%	13	%
Financial services and trust revenue	15		15		15		15		9		—	%	67	%
Residential mortgage banking revenue, net	9		7		12		7		7		29	%	29	%
(Loss) gain on investment securities, net	(8)		(1)		—		2		2		nm		(500)	%
Gain on loan and lease sales, net	—		—		1		1		—		nm		nm
(Loss) gain on loans held for investment, at fair value	(3)		(1)		(2)		—		4		200	%	(175)	%
BOLI income	9		9		9		9		6		—	%	50	%
Other income	17		19		13		16		13		(11)	%	31	%
Total non-interest income	80		88		83		90		77		(9)	%	4	%
Non-interest expense:
Salaries and employee benefits	191		196		196		201		171		(3)	%	12	%
Occupancy and equipment, net	63		65		66		67		54		(3)	%	17	%
FDIC assessments	9		9		9		4		8		—	%	13	%
Intangible amortization	38		38		41		42		31		—	%	23	%
Merger and restructuring expense	2		9		24		39		87		(78)	%	(98)	%

Other expenses	67		58		58		59		42		16	%	60	%
Total non-interest expense	370		375		394		412		393		(1)	%	(6)	%
Income before provision for income taxes	292		275		255		282		119		6	%	145	%
Provision for income taxes	72		67		63		67		23		7	%	213	%
Net income	$	220	$	208	$	192	$	215	$	96	6	%	129	%

Weighted average basic shares outstanding (in thousands)	279,221		285,558		290,933		295,376		237,838		(2)	%	17	%
Weighted average diluted shares outstanding (in thousands)	280,338		286,472		292,160		296,760		238,925		(2)	%	17	%
Earnings per common share – basic	$	0.78	$	0.73	$	0.66	$	0.72	$	0.40	7	%	95	%
Earnings per common share – diluted	$	0.78	$	0.73	$	0.66	$	0.72	$	0.40	7	%	95	%

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


Columbia Banking System, Inc.
Credit Quality – Non-performing Assets
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Seq. Quarter		Year over Year
Non-performing assets: (1)
Loans and leases on non-accrual status:
	Commercial real estate	$	84		$	96		$	91		$	50		$	53		(13)	%	58	%
	Commercial	73			84			96			66			67			(13)	%	9	%


	Total loans and leases on non-accrual status	157			180			187			116			120			(13)	%	31	%
Loans and leases past due 90+ days and accruing: (2)
	Commercial real estate	1			4			3			2			—			(75)	%	nm
	Commercial	16			4			2			8			5			300	%	220	%
	Residential (2)	76			80			69			72			71			(5)	%	7	%

	Total loans and leases past due 90+ days and accruing (2)	93			88			74			82			76			6	%	22	%
Total non-performing loans and leases (1), (2)		250			268			261			198			196			(7)	%	28	%
Other real estate owned		5			5			3			2			3			0	%	67	%
Total non-performing assets (1), (2)		$	255		$	273		$	264		$	200		$	199		(7)	%	28	%


Loans and leases past due 31-89 days		$	95		$	125		$	168		$	94		$	85		(24)	%	12	%
Loans and leases past due 31-89 days to total loans and leases		0.20		%	0.27		%	0.35		%	0.20		%	0.18		%	(0.07)		0.02
Non-performing loans and leases to total loans and leases (1), (2)		0.53		%	0.57		%	0.55		%	0.41		%	0.40		%	(0.04)		0.13
Non-performing assets to total assets (1), (2)		0.39		%	0.42		%	0.40		%	0.30		%	0.29		%	(0.03)		0.10
Non-accrual loans and leases to total loans and leases(2)		0.33		%	0.38		%	0.39		%	0.24		%	0.25		%	(0.05)		0.08

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


Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Seq. Quarter		Year over Year
Allowance for credit losses on loans and leases (ACLLL)
Balance, beginning of period		$	458		$	459		$	466		$	473		$	421		0	%	9	%
Initial ACL recorded for PCD loans acquired during the period		—			—			—			—			5			nm		(100)	%
Provision for credit losses on loans and leases		32			29			28			23			69			10	%	(54)	%
Charge-offs
	Commercial real estate	—			(1)			—			(8)			(3)			nm		nm
	Commercial	(33)			(32)			(39)			(23)			(22)			3	%	50	%
	Residential	—			—			—			(1)			—			nm		nm
	Consumer & other	(3)			(2)			(1)			(1)			(2)			50	%	50	%
	Total charge-offs	(36)			(35)			(40)			(33)			(27)			3	%	33	%
Recoveries
	Commercial real estate	1			—			—			—			—			nm		nm
	Commercial	7			4			4			3			4			75	%	75	%
	Residential	—			—			—			—			—			nm		nm
	Consumer & other	—			1			1			—			1			(100)	%	(100)	%
	Total recoveries	8			5			5			3			5			60	%	60	%
Net charge-offs
	Commercial real estate	1			(1)			—			(8)			(3)			nm		nm
	Commercial	(26)			(28)			(35)			(20)			(18)			(7)	%	44	%
	Residential	—			—			—			(1)			—			nm		nm
	Consumer & other	(3)			(1)			—			(1)			(1)			200	%	200	%
	Total net charge-offs	(28)			(30)			(35)			(30)			(22)			(7)	%	27	%
Balance, end of period		$	462		$	458		$	459		$	466		$	473		1	%	(2)	%
Reserve for unfunded commitments
Balance, beginning of period		$	17		$	19		$	19		$	19		$	18		(11)	%	(6)	%
(Recapture) provision for credit losses on unfunded commitments		1			(2)			—			—			1			nm		0	%
Balance, end of period		18			17			19			19			19			6	%	(5)	%
Total Allowance for credit losses (ACL)		$	480		$	475		$	478		$	485		$	492		1	%	(2)	%

Net charge-offs to average loans and leases (annualized)		0.24		%	0.25		%	0.30		%	0.25		%	0.22		%	(0.01)		0.02
Recoveries to gross charge-offs		22.22		%	14.29		%	12.50		%	9.09		%	18.52		%	7.93		3.70
ACLLL to loans and leases		0.98		%	0.97		%	0.96		%	0.98		%	0.98		%	0.01		—
ACL to loans and leases		1.02		%	1.01		%	1.00		%	1.02		%	1.01		%	0.01		0.01

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


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation
Tangible Capital, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions, except per-share data)		Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Seq. Quarter		Year over Year
Total shareholders' equity	a	$	7,079		$	7,552		$	7,664		$	7,840		$	7,790		(6)	%	(9)	%
Less: Goodwill		1,482			1,482			1,482			1,482			1,481			—	%	—	%
Less: Other intangible assets, net		595			633			671			712			754			(6)	%	(21)	%
Tangible common shareholders' equity	b	$	5,002		$	5,437		$	5,511		$	5,646		$	5,555		(8)	%	(10)	%

Total assets	c	$	65,135		$	65,380		$	66,027		$	66,832		$	67,496		—	%	(3)	%
Less: Goodwill		1,482			1,482			1,482			1,482			1,481			—	%	—	%
Less: Other intangible assets, net		595			633			671			712			754			(6)	%	(21)	%
Tangible assets	d	$	63,058		$	63,265		$	63,874		$	64,638		$	65,261		—	%	(3)	%
Common shares outstanding at period end (in thousands)	e	276,330			282,817			289,530			295,422			299,147			(2)	%	(8)	%

Total shareholders' equity to total assets ratio	a / c	10.87		%	11.55		%	11.61		%	11.73		%	11.54		%	(0.68)		(0.67)
Tangible common equity to tangible assets ratio	b / d	7.93		%	8.59		%	8.63		%	8.73		%	8.51		%	(0.66)		(0.58)
Book value per common share	a / e	$	25.62		$	26.70		$	26.47		$	26.54		$	26.04		(4)	%	(2)	%
Tangible book value per common share	b / e	$	18.10		$	19.22		$	19.03		$	19.11		$	18.57		(6)	%	(3)	%


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Income Statements, as adjusted
(Unaudited)
		Quarter Ended										% Change
($ in millions)		Sep 30, 2026		Jun 30, 2026		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Seq. Quarter		Year over Year
Non-Interest Income Adjustments
(Loss) gain on investment securities, net		$	(8)	$	(1)	$	—	$	2	$	2	nm		(500)	%
Gain (loss) on swap derivatives		3		—		—		1		(1)		nm		nm
(Loss) gain on loans held for investment, at fair value		(3)		(1)		(2)		—		4		200	%	(175)	%
Change in fair value of MSR due to valuation inputs or assumptions		13		1		6		(1)		—		nm		nm
MSR hedge loss		(12)		(2)		(2)		—		—		500	%	nm
Total non-interest income adjustments	a	$	(7)	$	(3)	$	2	$	2	$	5	133	%	(240)	%

Non-Interest Expense Adjustments
Merger and restructuring expense		$	2	$	9	$	24	$	39	$	87	(78)	%	(98)	%
Exit and disposal costs		3		—		1		1		—		nm		nm
FDIC special assessment		—		—		—		(5)		(1)		nm		nm
Legal settlement and other non-operating expense		—		—		—		4		—		nm		nm
Total non-interest expense adjustments	b	$	5	$	9	$	25	$	39	$	86	(44)	%	(94)	%

Net interest income	c	$	615	$	589	$	594	$	627	$	505	4	%	22	%

Non-interest income (GAAP)	d	$	80	$	88	$	83	$	90	$	77	(9)	%	4	%
Less: Non-interest income adjustments	a	7		3		(2)		(2)		(5)		133	%	nm
Operating non-interest income (non-GAAP)	e	$	87	$	91	$	81	$	88	$	72	(4)	%	21	%

Revenue (GAAP)	f=c+d	$	695	$	677	$	677	$	717	$	582	3	%	19	%
Operating revenue (non-GAAP)	g=c+e	$	702	$	680	$	675	$	715	$	577	3	%	22	%

Non-interest expense (GAAP)	h	$	370	$	375	$	394	$	412	$	393	(1)	%	(6)	%
Less: Non-interest expense adjustments	b	(5)		(9)		(25)		(39)		(86)		(44)	%	(94)	%
Operating non-interest expense (non-GAAP)	i	$	365	$	366	$	369	$	373	$	307	—	%	19	%

Net income (GAAP)	j	$	220	$	208	$	192	$	215	$	96	6	%	129	%
Provision for income taxes		72		67		63		67		23		7	%	213	%
Income before provision for income taxes		292		275		255		282		119		6	%	145	%
Provision for credit losses		33		27		28		23		70		22	%	(53)	%
Pre-provision net revenue (PPNR) (non-GAAP)	k	325		302		283		305		189		8	%	72	%
Less: Non-interest income adjustments	a	7		3		(2)		(2)		(5)		133	%	nm
Add: Non-interest expense adjustments	b	5		9		25		39		86		(44)	%	(94)	%
Operating PPNR (non-GAAP)	l	$	337	$	314	$	306	$	342	$	270	7	%	25	%

Net income (GAAP)	j	$	220	$	208	$	192	$	215	$	96	6	%	129	%
Acquisition-related provision expense		—		—		—		—		70		nm		(100)	%
Less: Non-interest income adjustments	a	7		3		(2)		(2)		(5)		133	%	nm
Add: Non-interest expense adjustments	b	5		9		25		39		86		(44)	%	(94)	%
Tax effect of adjustments		(3)		(3)		(6)		(9)		(43)		—	%	(93)	%
Operating net income (non-GAAP)	m	$	229	$	217	$	209	$	243	$	204	6	%	12	%

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


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Average Balances, Earnings Per Share, and Performance Metrics, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions, shares in thousands)		Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Seq. Quarter		Year over Year
Average assets	n	$	65,117		$	65,632		$	66,215		$	67,114		$	56,823		(1)	%	15	%
Less: Average goodwill and other intangible assets, net		2,096			2,136			2,175			2,217			1,719			(2)	%	22	%
Average tangible assets	o	$	63,021		$	63,496		$	64,040		$	64,897		$	55,104		(1)	%	14	%

Average common shareholders' equity	p	$	7,407		$	7,594		$	7,786		$	7,814		$	6,157		(2)	%	20	%
Less: Average goodwill and other intangible assets, net		2,096			2,136			2,175			2,217			1,719			(2)	%	22	%
Average tangible common equity	q	$	5,311		$	5,458		$	5,611		$	5,597		$	4,438		(3)	%	20	%

Weighted average basic shares outstanding (in thousands)	r	279,221			285,558			290,933			295,376			237,838			(2)	%	17	%
Weighted average diluted shares outstanding (in thousands)	s	280,338			286,472			292,160			296,760			238,925			(2)	%	17	%

Select Per-Share & Performance Metrics
Earnings per share - basic	j / r	$	0.78		$	0.73		$	0.66		$	0.72		$	0.40		7	%	95	%
Earnings per share - diluted	j / s	$	0.78		$	0.73		$	0.66		$	0.72		$	0.40		7	%	95	%
Efficiency ratio (1)	h / f	53.08		%	55.15		%	58.03		%	57.30		%	67.29		%	(2.07)		(14.21)
Non-interest expense to average assets	h / n	2.25		%	2.29		%	2.41		%	2.44		%	2.74		%	(0.04)		(0.49)
Return on average assets	j / n	1.34		%	1.27		%	1.18		%	1.27		%	0.67		%	0.07		0.67
Return on average tangible assets	j / o	1.38		%	1.31		%	1.22		%	1.31		%	0.69		%	0.07		0.69
PPNR return on average assets	k / n	1.98		%	1.85		%	1.73		%	1.80		%	1.32		%	0.13		0.66
Return on average common equity	j / p	11.78		%	10.99		%	10.00		%	10.92		%	6.19		%	0.79		5.59
Return on average tangible common equity	j / q	16.43		%	15.29		%	13.88		%	15.24		%	8.58		%	1.14		7.85

Operating Per-Share & Performance Metrics
Operating earnings per share - basic	m / r	$	0.82		$	0.76		$	0.72		$	0.82		$	0.86		8	%	(5)	%
Operating earnings per share - diluted	m / s	$	0.82		$	0.76		$	0.72		$	0.82		$	0.85		8	%	(4)	%
Operating efficiency ratio, as adjusted (1)	u / y	51.34		%	52.92		%	53.68		%	51.39		%	52.32		%	(1.58)		(0.98)
Operating non-interest expense to average assets	i / n	2.22		%	2.24		%	2.26		%	2.20		%	2.14		%	(0.02)		0.08
Operating return on average assets	m / n	1.40		%	1.33		%	1.28		%	1.44		%	1.42		%	0.07		(0.02)
Operating return on average tangible assets	m / o	1.44		%	1.37		%	1.32		%	1.49		%	1.47		%	0.07		(0.03)
Operating PPNR return on average assets	l / n	2.05		%	1.92		%	1.87		%	2.02		%	1.89		%	0.13		0.16
Operating return on average common equity	m / p	12.27		%	11.46		%	10.89		%	12.34		%	13.15		%	0.81		(0.88)
Operating return on average tangible common equity	m / q	17.11		%	15.95		%	15.11		%	17.22		%	18.24		%	1.16		(1.13)


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Operating Efficiency Ratio, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Seq. Quarter		Year over Year
Non-interest expense (GAAP)	h	$	370		$	375		$	394		$	412		$	393		(1)	%	(6)	%
Less: Non-interest expense adjustments	b	(5)			(9)			(25)			(39)			(86)			(44)	%	(94)	%
Operating non-interest expense (non-GAAP)	i	365			366			369			373			307			—	%	19	%
Less: B&O taxes	t	(2)			(3)			(4)			(3)			(3)			(33)	%	(33)	%
Operating non-interest expense, excluding B&O taxes (non-GAAP)	u	$	363		$	363		$	365		$	370		$	304		—	%	19	%

Net interest income (tax equivalent) (1)	v	$	617		$	592		$	596		$	629		$	507		4	%	22	%
Non-interest income (GAAP)	d	80			88			83			90			77			(9)	%	4	%
Add: BOLI tax equivalent adjustment (1)	w	3			3			3			3			2			—	%	50	%
Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent)	x	700			683			682			722			586			2	%	19	%
Less: Non-interest income adjustments	a	7			3			(2)			(2)			(5)			133	%	nm
Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)	y	$	707		$	686		$	680		$	720		$	581		3	%	22	%

Efficiency ratio (1)	h / f	53.08		%	55.15		%	58.03		%	57.30		%	67.29		%	(2.07)		(14.21)
Operating efficiency ratio, as adjusted (non-GAAP) (1)	u / y	51.34		%	52.92		%	53.68		%	51.39		%	52.32		%	(1.58)		(0.98)

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


Item 7.01			Regulation FD Disclosure.


Columbia Banking System, Inc.
Loan & Lease Portfolio Balances and Mix
(Unaudited)
	Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			% Change
($ in millions)	Amount			Amount			Amount			Amount			Amount			Seq. Quarter		Year over Year
Loans and leases:
Commercial real estate: (1)
Non-owner occupied term	$	7,338		$	7,584		$	8,113		$	8,206		$	8,444		(3)	%	(13)	%
Owner occupied term	7,219			7,405			7,258			7,314			7,361			(3)	%	(2)	%
Multifamily	9,937			10,122			10,173			10,281			10,377			(2)	%	(4)	%
Construction & development	1,642			1,529			1,670			1,707			2,071			7	%	(21)	%
Residential development	361			369			373			362			367			(2)	%	(2)	%
Commercial:
Term	7,097			7,004			6,887			6,713			6,590			1	%	8	%
Lines of credit & other	4,055			3,794			3,804			3,643			3,582			7	%	13	%
Leases & equipment finance	1,618			1,617			1,619			1,599			1,614			—	%	—	%
Residential:
Mortgage	5,313			5,402			5,483			5,624			5,722			(2)	%	(7)	%
Home equity loans & lines	2,179			2,176			2,147			2,149			2,153			—	%	1	%
Consumer & other	156			164			170			178			181			(5)	%	(14)	%
Total loans and leases, net of deferred fees and costs	$	46,915		$	47,166		$	47,697		$	47,776		$	48,462		(1)	%	(3)	%

Loans and leases mix:
Commercial real estate: (1)
Non-owner occupied term	16		%	16		%	17		%	17		%	18		%
Owner occupied term	16		%	16		%	15		%	15		%	15		%
Multifamily	21		%	22		%	21		%	22		%	21		%
Construction & development	3		%	3		%	4		%	4		%	4		%
Residential development	1		%	1		%	1		%	1		%	1		%
Commercial:
Term	15		%	15		%	15		%	14		%	14		%
Lines of credit & other	9		%	8		%	8		%	8		%	7		%
Leases & equipment finance	3		%	3		%	3		%	3		%	3		%
Residential:
Mortgage	11		%	11		%	11		%	12		%	12		%
Home equity loans & lines	5		%	5		%	5		%	4		%	4		%
Consumer & other	—		%	—		%	—		%	—		%	1		%
Total	100		%	100		%	100		%	100		%	100		%


Columbia Banking System, Inc.
Deposit Portfolio Balances and Mix
(Unaudited)
	Sep 30, 2026			Jun 30, 2026			Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			% Change
($ in millions)	Amount			Amount			Amount			Amount			Amount			Seq. Quarter		Year over Year
Deposits:
Demand, non-interest bearing	$	17,507		$	17,218		$	17,635		$	17,419		$	17,810		2	%	(2)	%
Demand, interest bearing	11,616			11,093			10,860			10,763			11,675			5	%	(1)	%
Money market	16,935			16,415			16,843			17,013			16,816			3	%	1	%
Savings	2,375			2,392			2,437			2,442			2,504			(1)	%	(5)	%
Time	4,307			4,938			5,714			6,574			6,966			(13)	%	(38)	%
Total	$	52,740		$	52,056		$	53,489		$	54,211		$	55,771		1	%	(5)	%

Total core deposits (1)	$	50,644		$	49,488		$	50,245		$	50,174		$	51,535		2	%	(2)	%

Deposit mix:
Demand, non-interest bearing	33		%	33		%	33		%	32		%	32		%
Demand, interest bearing	22		%	21		%	20		%	20		%	21		%
Money market	32		%	32		%	31		%	31		%	30		%
Savings	5		%	5		%	5		%	5		%	5		%
Time	8		%	9		%	11		%	12		%	12		%
Total	100		%	100		%	100		%	100		%	100		%


Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
	Quarter Ended
	September 30, 2026						June 30, 2026						September 30, 2025
($ in millions)	Average Balance		Interest Income or Expense		Average Yields or Rates		Average Balance		Interest Income or Expense		Average Yields or Rates		Average Balance		Interest Income or Expense		Average Yields or Rates
INTEREST-EARNING ASSETS:
Loans held for sale	$	57	$	1	6.39	%	$	66	$	—	6.86	%	$	80	$	1	7.14	%
Loans and leases (1)	46,951		698		5.90	%	47,419		683		5.77	%	41,164		618		5.96	%
Taxable securities	10,251		109		4.27	%	10,173		102		3.97	%	8,523		93		4.35	%
Non-taxable securities (2)	1,188		13		4.75	%	1,219		15		4.63	%	950		10		4.26	%
Temporary investments and interest-bearing cash	1,333		13		3.74	%	1,402		13		3.71	%	1,793		20		4.40	%
Total interest-earning assets (1), (2)	59,780		$	834	5.55	%	60,279		$	813	5.40	%	52,510		$	742	5.62	%
Goodwill and other intangible assets	2,096						2,136						1,719
Other assets	3,241						3,217						2,594
Total assets	$	65,117					$	65,632					$	56,823
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits	$	11,373	$	48	1.70	%	$	11,002	$	45	1.65	%	$	9,630	$	53	2.17	%
Money market deposits	16,578		89		2.11	%	16,658		87		2.10	%	13,476		83		2.46	%
Savings deposits	2,392		1		0.16	%	2,413		1		0.14	%	2,358		1		0.16	%
Time deposits	4,605		33		2.89	%	5,205		40		3.03	%	6,481		58		3.57	%
Total interest-bearing deposits	34,948		171		1.95	%	35,278		173		1.96	%	31,945		195		2.43	%
Repurchase agreements and federal funds purchased	173		—		1.75	%	163		1		1.65	%	176		1		2.15	%
Borrowings	3,664		38		4.02	%	4,050		39		3.90	%	2,648		30		4.54	%
Subordinated and junior subordinated debentures	471		8		6.99	%	431		8		7.07	%	430		9		7.99	%
Total interest-bearing liabilities	39,256		$	217	2.20	%	39,922		$	221	2.21	%	35,199		$	235	2.65	%
Non-interest-bearing deposits	17,584						17,301						14,627
Other liabilities	870						815						840
Total liabilities	57,710						58,038						50,666
Common equity	7,407						7,594						6,157
Total liabilities and shareholders' equity	$	65,117					$	65,632					$	56,823
NET INTEREST INCOME (2)			$	617					$	592					$	507
NET INTEREST SPREAD (2)					3.35	%					3.19	%					2.97	%
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)					4.11	%					3.93	%					3.84	%