COLB

Regional banking company Columbia Banking System (NASDAQ:COLB) fell short of the market’s revenue expectations in Q2 CY2026, but sales rose 33.2% year on year to $683 million. Its non-GAAP profit of $0.76 per share was 4.7% above analysts’ consensus estimates. Is now the time to buy COLB? Find out in our full research report (it’s free). Revenue: $683 million vs analyst estimates of $688.3 million (33.2% year-on-year growth, 0.8% miss) Adjusted EPS: $0.76 vs analyst estimates of $0.73 (4.7% beat) Market Capitalization: $9.34 billion Columbia Banking System’s second quarter saw modest revenue growth but failed to meet Wall Street’s top-line expectations, resulting in a significant negative market reaction. Management attributed the results to disciplined lending practices, with CEO Clint Stein stating, "We are seeing pricing and structures in the market that we believe are irrational and we will not meet them." Elevated payoffs in commercial real estate (CRE) and intentional runoff in transactional loans contributed to a net decline in total loans. Management emphasized the company’s refusal to chase market share at the expense of long-term returns, while cost control and the successful completion of the Pacific Premier integration supported profitability. Looking forward, management expects continued balance sheet optimization and deposit discipline to shape performance for the remainder of the year. CFO Ivan Seda stated the company still anticipates net interest margin to move beyond 4% in the coming quarters, driven by a shift toward higher-yielding commercial and owner-occupied real estate loans. Management also highlighted that increasing deposit competition could pressure funding costs, but ongoing investments in talent, new branches, and fee-generating businesses are expected to bolster growth. The company remains focused on capital return and efficiency initiatives, with further share repurchases anticipated in the near term. Management pointed to a mix of intentional loan contraction, deposit cost management, and fee income expansion as central factors in this quarter’s performance. CRE runoff and loan discipline: Elevated payoffs in the commercial real estate portfolio, combined with the company’s decision to avoid aggressive pricing, led to net loan contraction. Management emphasized prioritizing long-term profitability over short-term volume gains, with Stein stating, "We will not destroy shareholder value by sacrificing long-term returns to simply add loan totals." Deposit cost management: Despite heightened competition, Columbia Banking System maintained pricing discipline on deposits, resulting in a decline in deposit costs from the previous quarter. The company’s targeted deposit campaigns, focused on customer relationships rather than promotional pricing, helped offset seasonal outflows and attract new balances. Expense efficiency from integration: The completion of the Pacific Premier integration allowed the company to exceed targeted cost savings, with synergy outperformance contributing to noninterest expense coming in below guidance. Management noted ongoing expense optimization efforts to fund investments in the franchise. Noninterest income growth: Fee income from treasury management, wealth management, and card services increased across the board, with commercial card spend surpassing $100 million for the first time. Management expects continued mid-single digit growth in noninterest income as a percentage of total assets. Capital return focus: Over $300 million was returned to shareholders through dividends and share repurchases during the quarter. The company maintains a significant excess capital position, with further buybacks planned and ongoing evaluation of optimal capital allocation. Management’s outlook centers on margin expansion, disciplined lending, and continued capital return while navigating competitive deposit markets and shifting loan mix. Net interest margin expansion: Management expects the net interest margin to surpass 4% in the coming quarters, supported by a continued remix of the loan portfolio toward higher-yielding commercial and owner-occupied real estate loans. CFO Ivan Seda highlighted that newly originated assets carry higher yields than the existing portfolio, positioning the company for improved profitability as lower-yielding transactional loans mature and run off. Deposit competition and funding costs: Increasing competition for deposits, with rivals offering higher rates on CDs and money market accounts, is expected to create upward pressure on funding costs. Management believes deposit costs may have bottomed but are closely monitoring industry dynamics to maintain discipline and safeguard the core deposit franchise. Fee income and operational efficiency: Growth in fee-generating businesses such as treasury management, wealth management, and commercial cards is expected to support revenue diversification. The company also plans to continue optimizing noninterest expense, with further efficiency gains anticipated from ongoing process improvements and digital investments. In the months ahead, the StockStory team will monitor (1) the pace of net interest margin expansion as the loan portfolio remix continues, (2) any signs of deposit cost escalation amid heightened competition, and (3) the ability to sustain noninterest income growth from treasury, wealth, and card services. Execution on cost optimization and capital return will be additional signposts for the company’s progress. Columbia Banking System currently trades at $31.39, down from $32.26 just before the earnings. In the wake of this quarter, is it a buy or sell? Find out in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+271% between June 2020 and June 2025). Find your next big winner with StockStory today.

Columbia Banking System, Inc. COLB topped second-quarter 2026 earnings expectations as net interest income (NII) and fee income advanced. Operating earnings of 76 cents per share beat the Zacks Consensus Estimate of 73 cents.The quarter was less convincing beneath the headline. Revenues missed expectations, expenses remained elevated, balances declined and non-performing assets increased, leaving credit and efficiency trends central to the outlook. Columbia Banking System, Inc. price-consensus-eps-surprise-chart | Columbia Banking System, Inc. Quote Total revenues increased 32.5% year over year to $677 million, supported by the larger balance sheet following the Pacific Premier acquisition. Net interest income rose 32.1% to $589 million.Still, revenues fell short of the Zacks Consensus Estimate of $688.4 million. That miss limits the strength of the earnings beat because the upside came with less top-line support than analysts expected. COLB’s NII was $589 million, up 32.1% from the second quarter of 2025. The increase reflected the larger balance sheet following the Pacific Premier acquisition. The net interest margin (NIM) expanded 18 basis points year over year to 3.93%. The cost of interest-bearing deposits declined 56 basis points to 1.96%, while the cost of total deposits fell to 1.32% from 1.73%.Management expects the margin to reach or exceed 4% in the third quarter. Continued loan repricing, a shift toward higher-return relationship lending and reductions in higher-cost funding are expected to support that improvement.East West Bancorp EWBC is a key peer with a Zacks Rank #3 at present. In the second quarter of 2026, its NIM expanded eight basis points (bps) to 3.43%.  Supported by robust loan demand, lower deposit beta and stabilizing funding costs alongside balance sheet hedging, EWBC’s NIM growth is expected to continue in the near term.Zions Bancorporation ZION is another close peer with a Zacks Rank #3. ZION has been witnessing a rise in NIM for the last several quarters as funding costs declined. In the second quarter 2026, NIM expanded 10 basis points (bps) year over year to 3.27% In the near-term, the company’s NIM is likely to be positively impacted, driven by stabilizing deposit costs and asset yield repricing. Non-interest income increased 35.4% year over year to $88 million. Service charges on deposits rose 15%, card-based fees gained 21% and financial services and trust revenues climbed to $15 million from $6 million. Pacific Premier added custodial trust, homeowners’ association banking, escrow and 1031 exchange capabilities. Those platforms and broader cross-selling could help support earnings while total loans contract through the planned runoff of transactional credits. Non-interest expenses rose 34.9% year over year to $375 million. Salaries and employee benefits increased 26.5%, occupancy and equipment costs climbed 38.3% and intangible amortization advanced 46.2%. Management expects third-quarter non-interest expenses, excluding core deposit intangible amortization, of $330-$335 million. Banner Corporation (BANR), another western regional bank, also operates a relationship-focused franchise, making expense discipline and funding quality important competitive benchmarks across the region. The provision for credit losses declined 10% year over year to $27 million, while net charge-offs improved to 0.25% of average loans and leases from 0.31%. Those figures point to manageable current loss absorption.The risk is in problem-asset migration. Non-performing assets jumped 51.7% year over year to $273 million, while FinPac charge-offs were $15 million. Commercial real estate migration and changes in economic forecasts could keep credit costs uneven. The earnings beat shows that lower funding costs and broader fee income can offset some pressure from balance-sheet contraction. Rising non-performing assets and a larger expense base, however, leave little room for execution setbacks.Columbia Banking currently carries a Zacks Rank #5 (Strong Sell), signaling unfavorable near-term earnings estimate revisions. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Over the past six months, COLB shares have gained 3.5%, only modestly outperforming the industry's 2.5% rise. The limited relative outperformance indicates that the earnings beat has not been sufficient to meaningfully improve investor sentiment, as concerns over credit quality and expense pressures continue to weigh on the stock's outlook. Price Performance Image Source: Zacks Investment Research Its Value Score of C is neutral, while the Growth Score of D, Momentum Score of D and VGM Score of D indicate weaker growth, price-trend and combined style characteristics.  These ratings temper the benefit of improving revenue drivers and keep expense control and credit quality in focus. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Columbia Banking System, Inc. (COLB) : Free Stock Analysis Report Zions Bancorporation, N.A. (ZION) : Free Stock Analysis Report East West Bancorp, Inc. (EWBC) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Columbia Banking System’s second quarter saw modest revenue growth but failed to meet Wall Street’s top-line expectations, resulting in a significant negative market reaction. Management attributed the results to disciplined lending practices, with CEO Clint Stein stating, "We are seeing pricing and structures in the market that we believe are irrational and we will not meet them." Elevated payoffs in commercial real estate (CRE) and intentional runoff in transactional loans contributed to a net decline in total loans. Management emphasized the company’s refusal to chase market share at the expense of long-term returns, while cost control and the successful completion of the Pacific Premier integration supported profitability. Is now the time to buy COLB? Find out in our full research report (it’s free). Revenue: $683 million vs analyst estimates of $688.3 million (33.2% year-on-year growth, 0.8% miss) Adjusted EPS: $0.76 vs analyst estimates of $0.73 (4.7% beat) Market Capitalization: $8.71 billion While we enjoy listening to the management’s commentary, our favorite part of earnings calls is the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Jeff Rulis (D.A. Davidson) asked for a breakdown of intentional loan runoff versus CRE payoffs. CFO Ivan Seda explained that transactional portfolio runoff was planned, while CRE payoffs reflected heightened market competition and the bank's refusal to chase low-margin business. David Chiaverini (Wedbush Securities) pressed about the trajectory for net interest margin. Seda addressed that despite temporary headwinds, he expects net interest margin to exceed 4% in upcoming quarters as the loan mix shifts. David Feaster (Raymond James) questioned the rationale for not selling lower-yielding loans despite intense competition. Seda responded that selling these loans would not be accretive to book value, so the bank prefers to let them mature or reprice. Sun Young Lee (J.P. Morgan) asked about the long-term growth trajectory for fee income. EVP Torran Nixon highlighted broad-based momentum across treasury management, commercial cards, and wealth, with management targeting mid-single digit annual growth. Timur Braziler (Wells Fargo) inquired about the necessity of net loan growth to drive deposit growth and NII. Seda and Merrywell clarified that deposit-only customers remain valuable and that optimizing the loan book remains the core focus. In the months ahead, the StockStory team will monitor (1) the pace of net interest margin expansion as the loan portfolio remix continues, (2) any signs of deposit cost escalation amid heightened competition, and (3) the ability to sustain noninterest income growth from treasury, wealth, and card services. Execution on cost optimization and capital return will be additional signposts for the company’s progress. Columbia Banking System currently trades at $30.80, down from $32.26 just before the earnings. Is there an opportunity in the stock? The answer lies in our full research report (it’s free for active Edge members). ONE MORE THING: Top 5 Growth Stocks. The biggest stock winners almost always had one thing in common before they ran. Revenue growing like crazy. Meta. CrowdStrike. Broadcom. Our AI flagged all three. They returned 315%, 314%, and 455%, respectively. Find out which 5 stocks it’s flagging this month — FREE. Get Our Top 5 Growth Stocks for Free HERE. Stocks that have made our list include now familiar names such as Nvidia (+1,460% between June 2020 and June 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+214% between June 2020 and June 2025). Find your next big winner with StockStory today.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is intentionally prioritizing long-term profitability and shareholder value over 'growth for the sake of growth,' refusing to match what they characterize as irrational pricing and structures in the current market. Performance was driven by a strategic remix of the loan portfolio, where solid commercial and industrial (C&I) production helped offset the intentional runoff of the transactional book acquired from Pacific Premier. Total loan balances declined due to elevated commercial real estate (CRE) payoff activity, which management attributes to intense competitive pricing pressure from other banks. The company successfully exceeded its cost-saving targets for the Pacific Premier integration, achieving higher-than-anticipated synergies while keeping merger-related deal costs below original estimates. Management is leveraging a 'fortress balance sheet' to fund aggressive capital returns, including over $300 million returned to shareholders this quarter through dividends and buybacks. The deposit strategy focuses on banker engagement and customer outreach rather than promotional pricing, which helped mitigate seasonal tax-related outflows and reduced overall deposit costs. Management maintains its expectation for the net interest margin (NIM) to move beyond 4% in 2026, driven by continued loan portfolio remixing and the repricing of lower-yielding assets. The bank expects to continue its share repurchase program with an estimated $150 million to $200 million in buybacks planned for the third quarter of 2026. Noninterest expense for the third quarter is projected to be in the $330 million to $335 million range, reflecting the completion of merger synergies and ongoing strategic reinvestment. The transactional loan portfolio is expected to continue declining at a rate of approximately $250 million per quarter as management recycles capital into higher-yielding relationship-based lending. Management anticipates that the balance sheet will remain neutrally positioned to interest rates, providing earnings insulation regardless of whether rates rise or fall. A 4 basis point headwind to NIM occurred due to lower-than-expected investment security yields, a result of higher interest rates slowing anticipated prepayment speeds on mortgage-backed securities. Management explicitly ruled out further whole-bank M&A, stating the current franchise is complete and the focus has shifted entirely to organic growth and internal efficiency. Credit-related interest reversals had a one-time 3 basis point negative impact on the reported net interest margin for the second quarter. The bank is monitoring the agriculture portfolio closely; while it remains a point of focus, management noted that probability of default metrics are beginning to stabilize. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that the CRE market has become 'frothy,' with some competitors offering prices and structures that Columbia refuses to meet to protect credit culture. Despite some payoffs to other institutions, the bank is maintaining the broader customer relationships and seeing a 'phenomenal' total loan pipeline of nearly $4 billion. While deposit costs fell this quarter, management warned that the industry may be hitting a 'trough' as competitors increase 'rack rates' on money market accounts and CDs. The bank intends to hold the line on pricing by focusing on operating accounts and full-service relationships rather than chasing high-cost liquidity. CEO Clint Stein stated there is 'zero interest' in whole-bank M&A, as the Pacific Premier deal provided the final necessary pieces for the franchise. The bank may consider small 'bolt-on' acquisitions only if they specifically enhance fee income or deposit generation without increasing share count. Management acknowledged the target is a 'work in progress' but noted that starting capital levels were higher than originally modeled, which actually enabled faster share repurchases. The strategy to reach higher returns relies on reducing excess capital and continuing the 'brick by brick' growth of fee-based businesses like treasury management and wealth services.

Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE. Columbia Banking System stock has delivered a strong 73.7% return over the past three years, yet the current valuation picture is mixed, with the Excess Returns intrinsic value estimate pointing to meaningful upside while market multiples suggest pricing is closer to fair. A 73.7% share price gain over three years means existing shareholders have already seen substantial value created, which raises the bar for further upside from here. For Columbia Banking System, the strength of recurring banking income and credit quality can support the valuation, while any deterioration in loan performance or funding costs may weigh on what investors are willing to pay. The company screens as a mixed proposition on valuation checks, with the stock appearing undervalued on 3 of 6 measures, so the broader view is neither a clear bargain nor clearly expensive, according to the 3 out of 6 score. The issue now is whether Columbia Banking System's current share price around US$32.26 already reflects those three year gains, or if the intrinsic value estimate still leaves a reasonable margin of safety for new investors. Columbia Banking System delivered 36.8% returns over the last year. See how this stacks up to the rest of the Banks industry. The Excess Returns model looks at how much value Columbia Banking System can generate over and above the required return on its equity base. For this stock, the key input is a stable earnings power of $3.32 per share against a cost of equity of $2.05 per share, implying an excess return of $1.27 per share each year on a book value base of $26.47 per share. Those excess returns, combined with an average projected return on equity of 11.51% and a stable book value estimate of $28.87 per share, feed into an intrinsic value estimate of $64.45 per share. Compared with the current share price around $32.26, the model implies the stock is 49.9% undervalued. This suggests the market is assigning a much lower value to Columbia Banking System’s future profitability than the Excess Returns framework currently supports. On this methodology, Columbia Banking System screens as undervalued, with the share price sitting well below the Excess Returns estimate of intrinsic worth. Our Excess Returns analysis suggests Columbia Banking System is undervalued by 49.9%. Track this in your watchlist or portfolio, or discover 38 more high quality undervalued stocks. Head to the Valuation section of our Company Report for more details on how we arrive at this Fair Value for Columbia Banking System. The P/E ratio is a useful lens for Columbia Banking System because earnings power is central to how investors typically assess banks. Columbia Banking System currently trades at a P/E of 14.3x, compared with an industry average of about 12.1x and a peer average of 11.6x for banks, so the stock sits at a modest premium to both groups. The tailored fair P/E ratio for Columbia Banking System is 14.7x, which reflects what investors might expect to pay given the company’s profitability profile, risk and sector. With the actual multiple only slightly below this fair ratio, the current pricing does not point to a clear discount or premium, and instead suggests that the P/E is broadly in line with what the company’s earnings justify. On the P/E measure, Columbia Banking System stock appears roughly fairly valued, with the current earnings multiple close to the level implied by its fundamentals. See what the numbers say about this price — find out in our valuation breakdown. For Columbia Banking System, Simply Wall St Narratives are designed to connect the valuation puzzle above with the specific expectations that would need to hold around future growth, margins and earnings for the stock to be worth materially more or less than today's price. Each narrative ties a fair value to a particular set of potential catalysts and risks for Columbia Banking System's business, so you can track over time which storyline appears closer to how events actually unfold on the Community page. You can add your own narrative on Columbia Banking System by laying out a data-driven view on where its growth, margins and execution could go from here. Share your thesis to be one of the first voices in the Simply Wall St community presenting a clear, number-based case on Columbia Banking System, and see how it compares as new information arrives. Do you think there's more to the story for Columbia Banking System? Head over to our Community to see what others are saying! For Columbia Banking System, the Excess Returns intrinsic value estimate points to a meaningful discount, while the P/E view suggests the stock is priced close to what current earnings justify. The broader valuation checks are mixed, so the intrinsic value signal is not a straightforward green light and the verdict is not unambiguously cheap. The key question from here is whether Columbia Banking System can sustain the earnings and balance sheet profile that underpin that intrinsic value estimate, or whether the market is correctly treating the stock as fairly valued on current fundamentals. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include COLB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Find your next quality investment with Simply Wall St's easy and powerful screener, trusted by over 7 million individual investors worldwide. Columbia Banking System (NasdaqGS:COLB) has completed a major share repurchase program, returning capital to shareholders. The buyback conclusion was announced alongside disclosed net charge-offs, giving investors fresh detail on recent credit performance. The company also released its Q2 earnings, providing an updated snapshot of balance sheet quality and profitability. Columbia Banking System operates as a regional banking company, offering lending, deposit, and other financial services to consumers and businesses. The combination of a large completed buyback, reported net charge-offs, and Q2 earnings presents several key pieces of the investment puzzle at the same time. Taken together, these updates help you assess how Columbia Banking System is managing capital, credit risk, and its core banking operations. For investors tracking regional banks, the latest news from Columbia Banking System may inform views on risk appetite, capital returns, and balance sheet resilience. The share repurchase and fresh earnings data provide additional inputs to consider when evaluating how the stock aligns with your portfolio goals, risk tolerance, and time horizon. Stay updated on the most important news stories for Columbia Banking System by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Columbia Banking System. Is Columbia Banking System's dividend sustainable? Check out what every dividend investor needs to know in our dividend analysis. For Columbia Banking System, the completed US$497.18 million buyback and the latest Q2 figures sit alongside a dividend profile that already screens as “high and reliable” at a 4.59% yield. Removing 5.71% of shares can support per share metrics over time and may signal that management is comfortable with the bank’s capital position after funding dividends, buybacks, and credit costs. Net income of US$208 million for the quarter and net charge-offs of US$30 million provide a clearer picture of how earnings and credit losses interact with these capital returns. For income-focused investors, the key question is whether free cash flow and regulatory capital comfortably cover both the dividend and any future repurchases. The flat diluted EPS of US$0.73 versus a year ago, alongside higher reported net interest income, suggests that factors such as credit costs, expenses, or share count movements are influencing the earnings-per-share outcome. Taken together, the buyback completion, credit performance, and earnings level give you more inputs to assess how secure Columbia Banking System’s dividend stream looks relative to your own risk tolerance. The sizeable buyback and Q2 profit support the narrative that Columbia Banking System is using a strong capital position to return cash to shareholders while pursuing efficiency gains. Reported net charge-offs of US$30 million and ongoing integration efforts could challenge assumptions in the narrative about credit stability and execution, especially if losses or costs rise. The interaction between large repurchases and a high dividend yield is not fully explored in the narrative, which focuses more on growth, digital investment, and regional expansion than on long term capital return mix. Knowing what a company is worth starts with understanding its story. Check out one of the top narratives in the Simply Wall St Community for Columbia Banking System to help decide what it's worth to you. ⚠️ Analysts have flagged 1 major risk related to past shareholder dilution, which can matter when combining dividends with large buybacks. ⚠️ Credit quality always matters for regional banks, and net charge-offs of US$30 million show that loan losses are a real cash outflow that competes with dividends and repurchases for capital. 🎁 Earnings and revenue are assessed as growing, which can help support both a 4.59% dividend yield and completed buybacks if that performance is maintained. 🎁 The dividend is described as high and reliable, which may appeal to investors comparing Columbia Banking System with peers such as U.S. Bancorp, Fifth Third Bancorp, or KeyCorp for income-focused exposure. From here, investors in Columbia Banking System may want to track three threads together: quarterly earnings power, the level and trend in net charge-offs, and management’s future stance on buybacks versus dividends. Watching whether payout levels remain consistent with capital requirements and loan growth plans will be important for judging dividend sustainability. It can also be helpful to compare Columbia’s dividend policy and credit performance with other regional banks to see how its risk and income profile stacks up. To ensure you're always in the loop on how the latest news impacts the investment narrative for Columbia Banking System, head to the community page for Columbia Banking System to never miss an update on the top community narratives. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include COLB. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

This article first appeared on GuruFocus. EPS: Reported EPS of $0.73 and operating EPS of $0.76 for the second quarter. Pre-Provision Net Revenue: Increased by 30% on an operating basis compared to the second quarter of 2025. Operating Net Income: Increased by 36% compared to the second quarter of 2025. Average Earning Assets: $60.3 billion during the second quarter. Net Interest Margin: 3.93% for the second quarter. Non-Interest Income: $88 million on a GAAP basis and $91 million on an operating basis. Non-Interest Expense: $366 million on an operating basis; $328 million excluding intangible amortization. Provision Expense: $27 million for the second quarter. Allowance for Credit Losses: Coverage of total loans at 1.01% at quarter end. Regulatory Capital Ratios: CET1 at 11.6% and total risk-based ratio at 13.4%. Share Repurchases: 6.6 million common shares repurchased, returning approximately $200 million to shareholders. Tangible Book Value: Increased 1% during the quarter to $19.22. New Loan Origination Volume: $1.3 billion, with a 9% increase in commercial loans from the prior quarter. Deposit Costs: Declined 4 basis points to 1.94% as of June 30. Branch Expansion: Opened a second branch in Colorado and established a financial hub in Las Vegas. Warning! GuruFocus has detected 8 Warning Signs with COLB. Is COLB fairly valued? Test your thesis with our free DCF calculator. Release Date: July 23, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Columbia Banking System Inc (NASDAQ:COLB) reported a strong second-quarter performance with EPS of $0.73 and operating EPS of $0.76, reflecting a 30% increase in pre-provision net revenue and a 36% increase in operating net income compared to the previous year. The company successfully integrated the Pac Premier acquisition, exceeding cost-savings targets and achieving merger-related cost synergies. Columbia Banking System Inc (NASDAQ:COLB) maintained pricing discipline in a competitive environment, resulting in a decline in deposit costs from the prior quarter. The company returned over $300 million to shareholders through dividends and share repurchases, demonstrating a strong commitment to capital return. Columbia Banking System Inc (NASDAQ:COLB) reported a significant increase in commercial loan origination volume, up 49% from the previous year, contributing to a favorable remix of the loan portfolio towards higher-return, relationship-based lending. Total loans declined during the second quarter due to elevated commercial real estate (CRE) pay-off activity, driven by competitive pricing pressure. The yield on investment securities was lower than expected due to the impact of higher interest rates on security portfolio-accounting adjustments. The company faced increased competition for deposits, with some competitors offering higher rates, which could potentially lead to increased deposit costs. Despite the strong performance, the company continues to face challenges in the operating environment, including elevated pay-offs in the commercial real estate portfolio. The transactional loan portfolio continues to decline, with a reduction of approximately $270 million in the quarter, impacting overall loan growth. Q: Can you break down the net loan decline of over $500 million this quarter? A: Ivan Seda, Chief Financial Officer, explained that the decline is due to three main factors: a $270 million reduction in the transactional portfolio, $250 million growth in the C&I and owner-occupied commercial real estate, and elevated pay-offs in the commercial real estate portfolio due to competitive pricing. Q: What are your expectations for net interest margin (NIM) in the coming quarters? A: Ivan Seda, Chief Financial Officer, stated that despite some headwinds, they expect the NIM to exceed 4% in the third quarter. This is based on continued loan portfolio remixing and optimization of funding sources. Q: How do you view the current competitive environment for deposits, and what are your expectations for deposit costs? A: Ivan Seda, Chief Financial Officer, noted that while deposit costs decreased by 8 basis points this quarter, increased competition and potential rate hikes could apply upward pressure. Christopher Merrywell, President of Consumer Banking, added that they are monitoring market rates closely and maintaining pricing discipline. Q: Are there any plans for further balance sheet optimization or loan sales given the competitive market dynamics? A: Ivan Seda, Chief Financial Officer, mentioned that while they continuously evaluate opportunities, they currently believe holding onto their portfolio and allowing it to mature or reprice is more beneficial than selling at a discount. Q: What is your stance on M&A following the completion of the Pacific Premier integration? A: Clint Stein, CEO, stated that there is no interest in pursuing whole bank acquisitions at this time. The focus remains on organic growth and share repurchases, although small bolt-on acquisitions to enhance fee income or deposit generation could be considered. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Columbia Banking System COLB posted second-quarter 2026 operating earnings of 76 cents per share, beating the Zacks Consensus Estimate of 73 cents. The figure was unchanged from the prior-year quarter. Quarterly results reflected higher net interest income (NII) and a rise in non-interest income. Lower provisions were another positive. However, higher non-interest expenses and lower loan and deposit balances were the undermining factors. Net income (GAAP) was $208 million compared with $152 million in the year-ago quarter. Total revenues came in at $677 million, up 32.5% year over year. The metric, however, missed the Zacks Consensus Estimate of $688.4 million. COLB’s NII was $589 million, up 32.1% from the second quarter of 2025. The increase reflected the larger balance sheet following the Pacific Premier acquisition. The net interest margin expanded 18 basis points year over year to 3.93%. Funding costs were lower than the year-ago quarter, with the cost of interest-bearing deposits declining 56 basis points to 1.96% from 2.52%. The cost of total deposits fell to 1.32% from 1.73%. Non-interest income was $88 million, up 35.4% from the year-ago level. Service charges on deposits increased 15% to $23 million, while card-based fees rose 21% to $17 million. Financial services and trust revenues increased to $15 million from $6 million. Other income was $19 million, up 58%. Columbia Banking’s non-interest expenses were $375 million, up 34.9% from the second quarter of 2025. The year-over-year increase reflected higher costs across several categories on a larger operating base. Salaries and employee benefits were $196 million, up 26.5% from $155 million. Occupancy and equipment expenses increased 38.3% to $65 million, while intangible amortization rose 46.2% to $38 million. Merger and restructuring expenses were $9 million compared with $8 million in the year-ago quarter. Management noted that all organizational changes and cost-related synergies associated with the Pacific Premier acquisition were essentially complete as of June 30, 2026, including the achievement of its previously disclosed cost-savings target. As of June 30, 2026, loans and leases were $47.2 billion, down 1% sequentially. The decline reflected continued expected runoff in below-market-rate transactional loans and lower non-owner-occupied commercial real estate balances because of elevated payoffs and competitive pricing pressure. Commercial loans, including owner-occupied commercial real estate, increased at an annualized rate of 5% from the prior quarter, partly offsetting contraction in other portfolios. Total deposits declined 3% sequentially to $52.1 billion. The decrease reflected intentional reductions in brokered deposits and wholesale public deposits. COLB’s provision for credit losses was $27 million, down 10% from $30 million in the year-ago quarter. Net charge-offs were 0.25% of average loans and leases (annualized), down from 0.31% a year earlier. The allowance for credit losses was $475 million, up 8.2% from $439 million. However, the allowance for credit losses-to-loans and leases ratio declined to 1.01% from 1.17%. Non-performing assets totaled $273 million, up 51.7% from $180 million, and the non-performing assets-to-total assets ratio increased to 0.42% from 0.35% in the second quarter of 2025. As of June 30, 2026, the estimated total risk-based capital ratio was 13.4%, up from 13% in the second quarter of 2025. The estimated common equity Tier 1 risk-based capital ratio was 11.6%, up from 10.8% in the prior-year quarter. Book value per common share increased 5.1% year over year to $26.70. Tangible book value per common share rose 4.1% to $19.22. In the reported quarter, Columbia Banking repurchased 6.6 million common shares at an average price of $29.93, returning $199 million to shareholders. The company had $202 million remaining under its existing share repurchase authorization as of June 30, 2026. Columbia Banking’s larger balance sheet following the Pacific Premier acquisition supported solid year-over-year growth in NII and fee income. Lower deposit costs and active management of funding rates aided the net interest margin. The completion of acquisition-related organizational changes and cost synergies should support operating efficiency. However, the continued runoff of below-market-rate transactional loans, competitive pressure in commercial real estate and intentional reductions in higher-cost deposits are likely to constrain near-term balance-sheet growth. Rising non-performing assets and elevated operating expenses remain concerning. Columbia Banking System, Inc. price-consensus-eps-surprise-chart | Columbia Banking System, Inc. Quote At present, COLB carries a Zacks Rank 4 (Sell). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. First Horizon Corporation FHN posted second-quarter 2026 earnings per share of 54 cents, surpassing the Zacks Consensus Estimate of 52 cents. This compares favorably with earnings of 45 cents in the year-ago quarter. FHN’s results benefited from higher net interest income and non-interest income, along with a lower provision for credit losses. Higher loan and deposit balances also provided support. However, rising expenses and weaker capital ratios were headwinds. F.N.B. Corporation FNB reported second-quarter 2026 earnings of 42 cents per share, which matched the Zacks Consensus Estimate. The bottom line jumped 16.7% year over year. FNB’s results primarily benefited from higher NII, a rise in non-interest income and lower provisions. Higher average loans and deposits were other positives. However, higher non-interest expenses hurt the results to some extent. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Columbia Banking System, Inc. (COLB) : Free Stock Analysis Report First Horizon Corporation (FHN) : Free Stock Analysis Report F.N.B. Corporation (FNB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Columbia Banking (COLB) came out with quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.76 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +4.11%. A quarter ago, it was expected that this bank holding company would post earnings of $0.68 per share when it actually produced earnings of $0.72, delivering a surprise of +5.88%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Columbia Banking, which belongs to the Zacks Banks - West industry, posted revenues of $677 million for the quarter ended June 2026, missing the Zacks Consensus Estimate by 1.66%. This compares to year-ago revenues of $510.91 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Columbia Banking shares have added about 16.7% since the beginning of the year versus the S&P 500's gain of 9.6%. While Columbia Banking has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Columbia Banking was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.78 on $701.22 million in revenues for the coming quarter and $3.05 on $2.78 billion in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - West is currently in the top 20% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. One other stock from the same industry, Coastal Financial Corporation (CCB), is yet to report results for the quarter ended June 2026. This company is expected to post quarterly earnings of $0.95 per share in its upcoming report, which represents a year-over-year change of +33.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Coastal Financial Corporation's revenues are expected to be $162.7 million, up 36.2% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Columbia Banking System, Inc. (COLB) : Free Stock Analysis Report Coastal Financial Corporation (CCB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

TACOMA, Wash., July 23, 2026 /PRNewswire/ -- Organizational UpdateColumbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") closed its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") on August 31, 2025, and completed the systems conversion and nine branch consolidations during the first quarter of 2026. All organizational changes and cost-related synergies were essentially complete as of June 30, 2026, including the achievement of our previously disclosed cost savings target associated with the Pacific Premier acquisition. During the second quarter, we opened a branch in Colorado Springs and a financial hub in Las Vegas. We continue to strategically expand and refine our physical footprint to support relationship-driven growth, while funding these initiatives through targeted real estate optimization and other efficiency improvements. Net Interest Income and Net Interest MarginNet interest income was $589 million for the second quarter of 2026, down $5 million from the first quarter of 2026, due in part to $4 million of interest income reversals, alongside modest balance sheet deleveraging. Columbia's net interest margin was 3.93% for the second quarter of 2026, down 3 basis points from the first quarter of 2026, as the interest income reversals mentioned above reduced the net interest margin by 3 basis points during the second quarter. Excluding this impact, net interest margin was consistent between periods, as higher yields on loans and leases partially offset a lower yield on taxable securities, driven by changes in prepayment speed expectations. Improved funding costs also contributed favorably to the net interest margin. The cost of interest-bearing deposits decreased 8 basis points from the prior quarter to 1.96% for the second quarter of 2026, compared to 2.04% for the first quarter of 2026. The decrease during the second quarter reflects our active management of deposit rates and a lower mix of higher-cost brokered deposits. The cost of interest-bearing deposits was 1.95% for the month of June and 1.94% as of June 30, 2026. Columbia's cost of interest-bearing liabilities decreased 3 basis points from the prior quarter to 2.21% for the second quarter of 2026, compared to 2.24% for the first quarter of 2026. The cost of interest-bearing liabilities was 2.22% for the month of June and 2.21% as of June 30, 2026. Refer to the Q2 2026 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information. Non-interest IncomeNon-interest income was $88 million for the second quarter of 2026, up $5 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value loss of $3 million for the second quarter, compared to a net fair value gain of $2 million for the first quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $91 million2 for the second quarter of 2026, up $10 million between periods, due primarily to higher treasury management and card-based fees. We also received $3 million in death benefit proceeds during the second quarter related to a single policy, which was recorded in other income. Non-interest ExpenseNon-interest expense was $375 million for the second quarter of 2026, down $19 million from the prior quarter, due to lower merger expense. Excluding merger and restructuring expense and exit and disposal costs, as detailed in our non-GAAP disclosures, non-interest expense was $366 million2, down $3 million from the prior quarter, due to cost savings related to the Pacific Premier acquisition. Refer to the Q2 2026 Earnings Presentation for additional expense details. Balance SheetTotal consolidated assets were $65.4 billion as of June 30, 2026, compared to $66.0 billion as of March 31, 2026. The decrease reflects balance sheet optimization activity. Cash and cash equivalents were $1.8 billion as of June 30, 2026, compared to $2.1 billion as of March 31, 2026. Including secured off-balance sheet lines of credit, total available liquidity was $25.6 billion as of June 30, 2026, representing 39% of total assets, 49% of total deposits, and 125% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $11.1 billion as of June 30, 2026, compared to $10.9 billion as of March 31, 2026. The increase is due to the purchase of $462 million of investment securities, which offset paydowns and a decrease in the fair value of the portfolio. Refer to the Q2 2026 Earnings Presentation for additional details related to our investment securities portfolio and liquidity position. Gross loans and leases were $47.2 billion as of June 30, 2026, compared to $47.7 billion as of March 31, 2026. The decrease reflects continued expected runoff in below-market-rate transactional loans and lower balances in non-owner occupied commercial real estate given elevated payoffs, due in part to competitive pricing pressure. Commercial loans, inclusive of owner-occupied commercial real estate, increased by 5% on an annualized basis relative to March 31, 2026, partially offsetting contraction in other portfolios. "Our bankers remained focused on relationship-driven activity during the second quarter, generating new business opportunities while continuing to manage the balance sheet with discipline," commented Tory Nixon, President of Columbia Bank. "Commercial relationship growth remained solid, and the continued runoff of lower-return transactional loans is reshaping our balance sheet as intended. Customer engagement remains healthy, and we remain encouraged by the quality of our pipelines and the opportunities we see across our western footprint." Refer to the Q2 2026 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans. Total deposits were $52.1 billion as of June 30, 2026, compared to $53.5 billion as of March 31, 2026. The decrease reflects intentional reductions in brokered deposits and wholesale public deposits, which declined to $978 million and $928 million, respectively, as of June 30, 2026, compared to $1.6 billion and $1.2 billion, respectively, as of March 31, 2026. Customer deposit contraction in April due to seasonal tax payments also contributed to the decline between periods. "Seasonal factors reduced deposit balances early in the quarter, with balances stabilizing in May and June despite increasing competition," stated Mr. Nixon. "Our teams continue to emphasize relationship banking, serving our customers through advice-driven conversations and tailored solutions, while preserving the strength of our core deposit franchise. Meeting the evolving needs of our customers remains at the center of the value we provide." We utilized borrowings, which were $4.3 billion as of June 30, 2026, compared to $3.4 billion as of March 31, 2026, to supplement funding needs. Refer to the Q2 2026 Earnings Presentation for additional details related to deposit characteristics and flows. Credit QualityThe allowance for credit losses ("ACL") was $475 million, or 1.01% of loans and leases, as of June 30, 2026, compared to $478 million, or 1.00% of loans and leases, as of March 31, 2026. The provision for credit losses was $27 million for the second quarter of 2026 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models. Net charge-offs were 0.25% of average loans and leases (annualized) for the second quarter of 2026, compared to 0.30% for the first quarter of 2026. Net charge-offs in the FinPac portfolio were $15 million for the second quarter, compared to $14 million for the first quarter. Net charge-offs excluding the FinPac portfolio were $15 million for the second quarter, compared to $21 million for the first quarter. Non-performing assets were $273 million, or 0.42% of total assets, as of June 30, 2026, compared to $264 million, or 0.40% of total assets, as of March 31, 2026. Refer to the Q2 2026 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends. CapitalColumbia's book value per common share was $26.70 as of June 30, 2026, compared to $26.47 as of March 31, 2026. During the second quarter, Columbia repurchased 6.6 million common shares under its current repurchase plan at an average price of $29.93, representing 2.3% of outstanding common shares. Book value also was impacted by the change in accumulated other comprehensive (loss) income ("AOCI") to $(310) million as of June 30, 2026, compared to $(291) million as of the prior quarter-end. The change in AOCI is due primarily to an increase in the tax-effected net unrealized loss on available-for-sale securities to $275 million as of June 30, 2026, compared to $260 million as of March 31, 2026. Tangible book value per common share3 was $19.22 as of June 30, 2026, compared to $19.03 as of March 31, 2026. Columbia's estimated total risk-based capital ratio was 13.4% and its estimated common equity tier 1 risk-based capital ratio was 11.6% as of June 30, 2026, compared to 13.5% and 11.7%, respectively, as of March 31, 2026. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of June 30, 2026 are estimates, pending completion and filing of Columbia's regulatory reports. Earnings Presentation and Conference Call InformationColumbia's Q2 2026 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com. Columbia will host its second quarter 2026 earnings conference call on July 23, 2026 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its second quarter 2026 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time. Join the audiocast: https://edge.media-server.com/mmc/p/thdt6a5z/Register for the call: https://register-conf.media-server.com/register/BIb20bf1c21e7e4dcd93e446da448dd1e9Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx About Columbia Banking System, Inc.Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com. Forward-Looking StatementsThis press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) any revenue synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (ii) deposit attrition as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors. Loans and leases$ 1,367$ 1,11722 %Interest and dividends on investments:Taxable20114935 %Exempt from federal income tax241471 %Dividends7617 %Temporary investments and interest bearing deposits2732(16) %Total interest income1,6261,31823 %Interest expense:Deposits3573570 %Securities sold under agreement to repurchase and federal funds purchased220 %Borrowings6971(3) %Junior and other subordinated debentures1517(12) %Total interest expense443447(1) %Net interest income1,18387136 %Provision for credit losses5557(4) %Non-interest income:Service charges on deposits433910 %Card-based fees322719 %Financial services and trust revenue3011173 %Residential mortgage banking revenue, net191712 %(Loss) gain on investment securities, net(1)2(150) %Gain on loan and lease sales, net1—nm(Loss) gain on loans held for investment, at fair value(3)7(143) %BOLI income181080 %Other income321878 %Total non-interest income17113131 %Non-interest expense:Salaries and employee benefits39230031 %Occupancy and equipment, net1319538 %FDIC assessments181613 %Intangible amortization795446 %Merger and restructuring expense332343 %Legal settlement—55(100) %Other expenses1167555 %Total non-interest expense76961824 %Income before provision for income taxes53032762 %Provision for income taxes1308848 %Net income$ 400$ 23967 %Weighted average basic shares outstanding (in thousands)288,130208,96438 %Weighted average diluted shares outstanding (in thousands)289,212209,96538 %Earnings per common share – basic$ 1.39$ 1.1422 %Earnings per common share – diluted$ 1.38$ 1.1421 %nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." Non-GAAP Financial MeasuresIn 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. View original content to download multimedia:https://www.prnewswire.com/news-releases/columbia-banking-system-inc-reports-second-quarter-2026-results-302833484.html

Regional banking company Columbia Banking System (NASDAQ:COLB) fell short of the market’s revenue expectations in Q2 CY2026, but sales rose 32.1% year on year to $677 million. Its non-GAAP profit of $0.76 per share was 4.7% above analysts’ consensus estimates. Is now the time to buy Columbia Banking System? Find out in our full research report. Net Interest Income: $589 million vs analyst estimates of $602.4 million (31.9% year-on-year growth, 2.2% miss) Net Interest Margin: 3.9% vs analyst estimates of 4% (6.9 basis point miss) Revenue: $677 million vs analyst estimates of $688.3 million (32.1% year-on-year growth, 1.6% miss) Efficiency Ratio: 55.2% vs analyst estimates of 54.3% (87.9 basis point miss) Adjusted EPS: $0.76 vs analyst estimates of $0.73 (4.7% beat) Tangible Book Value per Share: $19.22 vs analyst estimates of $19.30 (4.1% year-on-year growth, in line) Market Capitalization: $9.45 billion "Our second quarter results demonstrate the resilience of our franchise and reflect the value of disciplined execution across the company," said Clint Stein, Chairman, CEO & President. Created through the merger of two Pacific Northwest banking institutions with deep regional roots, Columbia Banking System (NASDAQ:COLB) operates Umpqua Bank, providing commercial, consumer, and wealth management services across eight western states. In general, banks make money from two primary sources. The first is net interest income, which is interest earned on loans, mortgages, and investments in securities minus interest paid out on deposits. The second source is non-interest income, which can come from bank account, credit card, wealth management, investment banking, and trading fees. Luckily, Columbia Banking System’s revenue grew at an incredible 34.4% compounded annual growth rate over the last five years. Its growth beat the average banking company and shows its offerings resonate with customers. Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Columbia Banking System’s annualized revenue growth of 14.8% over the last two years is below its five-year trend, but we still think the results suggest healthy demand. Note: Quarters not shown were determined to be outliers because they were impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business. This quarter, Columbia Banking System pulled off a wonderful 32.1% year-on-year revenue growth rate, but its $677 million of revenue fell short of Wall Street’s rosy estimates. Net interest income made up 89.8% of the company’s total revenue during the last five years, meaning Columbia Banking System barely relies on non-interest income to drive its overall growth. Net interest income commands greater market attention due to its reliability and consistency, whereas non-interest income is often seen as lower-quality revenue that lacks the same dependable characteristics. ONE MORE THING: 3 Hidden Platforms Growing 3X Faster than Amazon, Google, and PayPal. Amazon, Google, and Meta all followed the same playbook: Dominate an ignored market. Build an unbeatable moat. Scale until you’re unstoppable. These three platforms are running that exact playbook right now. The early investors in Amazon made fortunes. The early investors in these could do the same. Get All 3 Stocks Here for FREE. Banks profit by intermediating between depositors and borrowers, making them fundamentally balance sheet-driven enterprises. Market participants emphasize balance sheet quality and sustained book value growth when evaluating these institutions. Because of this, tangible book value per share (TBVPS) emerges as the critical performance benchmark. By excluding intangible assets with uncertain liquidation values, this metric captures real, liquid net worth per share. Other (and more commonly known) per-share metrics like EPS can sometimes be murky due to M&A or accounting rules allowing for loan losses to be spread out. Columbia Banking System’s TBVPS declined at a 1.7% annual clip over the last five years. However, TBVPS growth has accelerated recently, growing by 8.7% annually over the last two years from $16.26 to $19.22 per share. Over the next 12 months, Consensus estimates call for Columbia Banking System’s TBVPS to grow by 10.2% to $21.19, mediocre growth rate. We struggled to find many positives in these results. Its net interest income missed and its revenue fell short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock traded down 4.4% to $30.88 immediately following the results. Columbia Banking System’s latest earnings report disappointed. One quarter doesn’t define a company’s quality, so let’s explore whether the stock is a buy at the current price. When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it’s free.