COLUMBIA BANKING SYSTEM, INC. 8-K

Summary

Q2 2026 results. GAAP net income rose 37% Y/Y to $208M; operating net income was $217M. Pacific Premier integration changes and cost-related synergies were essentially complete by 6/30/2026 as Columbia continued balance-sheet optimization and relationship-based commercial lending.

Key Figures

• Net interest income was $589M, up 32% Y/Y but down $5M Q/Q, partly due to $4M of interest-income reversals and modest deleveraging. The reversals reduced net interest margin by 3 bp; the 3.93% margin was otherwise consistent Q/Q, with improved funding costs offsetting lower taxable-securities yields.
• Non-interest income rose $5M Q/Q to $88M, mainly on higher treasury-management and card fees; it included $3M in death-benefit proceeds. Non-interest expense fell $19M to $375M as merger expense declined and acquisition-related savings were realized; adjusted operating expense was $366M, down $3M Q/Q.
• Loans and leases fell 1% Q/Q to $47.2B and deposits fell 3% to $52.1B, reflecting runoff in lower-return loans, elevated commercial real estate payoffs, intentional reductions in brokered and wholesale public deposits, and seasonal tax outflows. Borrowings rose to $4.25B from $3.40B; available liquidity was $25.6B. Non-performing assets increased to $273M, or 0.42% of assets from 0.40%, while annualized net charge-offs declined to 0.25% from 0.30%.
• Columbia repurchased 6.6M shares for $199M at an average $29.93 per share, equal to 2.3% of outstanding shares; $202M remained under the authorization. The quarterly dividend was $0.37 per share.

Guidance

No guidance in this filing.

Investor Takeaways

• Watch whether commercial relationship growth can continue to offset transactional-loan runoff and commercial real estate payoffs.
• Deposit stabilization and credit trends—particularly non-performing assets—will indicate how balance-sheet optimization and funding changes develop.