COLUMBIA BANKING SYSTEM, INC.

Listed Company

COLBCIK 0000887343NasdaqLarge AcceleratedState Commercial BanksWashingtonFY ends Dec 31

Period

FY 2025

Revenue

$177.00M

Net Income

$550.00M

Total Assets

$66.83B

Equity

$7.84B

Shares Out

295.55M

Op. Cash Flow

$746.00M

Business

COLUMBIA BANKING SYSTEM, INC. is a registered financial holding company that operates principally through Umpqua Bank to provide commercial and consumer banking and related financial services. It offers commercial lending, treasury management and payments, deposit products, residential and consumer loans, wealth management, mortgage services, and commercial equipment leasing through its subsidiary FinPac. Key business divisions include Umpqua Bank’s retail and commercial banking teams, Global Payments & Deposits, and Wealth Management (Columbia Wealth Advisors, Columbia Trust Company, Columbia Private Bank). The Company serves markets across the western United States through branch networks, digital channels, and its website.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans and leases	2,458	2,320	2,114	1,050	891
Taxable	340	305	277	72	60
Exempt from federal income tax	34	28	24	5	6
Dividends	13	12	13	438,000	1
Interest on temporary investments and interest-bearing deposits	71	90	111	20	4
Total interest income	2,916	2,755	2,539	1,148	962
Interest on deposits	747	803	462	48	27
Interest on securities sold under agreement to repurchase and federal funds purchased	4	5	3	997,000	280,000
Interest on borrowings	128	190	243	9	—
Interest on junior and other subordinated debentures	34	39	38	20	12
Total interest expense	913	1,037	746	78	—
Net interest income	2,003	1,718	1,793	1,070	920
PROVISION FOR CREDIT LOSSES	150	106	213	84	−43
Net interest income after provision for credit losses	1,853	1,612	1,580	986	962
Revenue from contract with customer	177	149	134	86	83
Residential mortgage banking revenue, net	31	24	17	107	187
Gain on investment securities, net	6	0	2	2,000	8,000
Gain (loss) on loan and lease sales, net	1	−3	4	7	16
Gain (loss) on certain loans held for investment, at fair value	11	−10	3	—	—
Bank-owned life insurance income	25	19	16	8	8
Other income	47	32	28	−1	64
Total non-interest income	298	211	204	200	356
Salaries and employee benefits	672	589	616	441	481
Occupancy and equipment, net	216	182	183	138	138
Communications	14	14	16	10	12
Marketing	15	11	11	7	7
Services	57	53	53	51	49
Deposit costs	24	8	7	—	—
FDIC assessments	28	42	71	14	9
Intangible amortization	127	119	111	4	5
Merger and restructuring expense	148	24	172	17	—
Legal settlement	55	0	0	—	—
Other expenses	67	62	73	52	45
Total non-interest expense	1,423	1,104	1,313	735	760
Income before provision for income taxes	728	719	471	451	558
Provision for income taxes	178	185	122	114	138
Net income	550	534	349	337	420
Basic (in dollars per share)	2.31	2.56	1.79	2.6	3.22
Diluted (in dollars per share)	2.3	2.55	1.78	2.6	3.21
Basic (in shares)	238	208	195	129	130
Diluted (in shares)	239	209	196	130	131

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	511	497	498	327	153
Interest-bearing cash and temporary investments	1,869	1,381	1,664	967	671
Total cash and cash equivalents	2,380	1,878	2,163	1,295	825
Equity and other, at fair value	113	78	77	73	—
Available for sale, at fair value	11,112	8,275	8,830	3,196	5,911
Held to maturity, at amortized cost	18	2	2	2	—
Loans held for sale	262	72	31	72	10
Loans and leases	47,776	37,681	37,442	—	—
Allowance for credit losses on loans and leases	−466	−425	−441	−301	—
Net loans and leases	47,310	37,256	37,001	—	—
Restricted equity securities	159	150	179	47	10
Premises and equipment, net	422	349	339	176	172
Goodwill	1,482	1,029	1,000	0	823
Other intangible assets, net	712	484	604	5	—
Bank-owned life insurance	1,218	694	681	332	—
Other assets	1,644	1,309	666	400	455
Total assets	66,832	51,576	52,174	31,849	20,945
Non-interest-bearing	17,419	13,308	14,256	10,289	8,857
Interest-bearing	36,792	28,413	27,351	16,777	9,153
Total deposits	54,211	41,721	41,607	27,066	18,010
Securities sold under agreements to repurchase	207	237	252	309	86
Borrowings	3,200	3,100	4,000	906	—
Junior subordinated debentures, at fair value	338	331	316	324	—
Junior and other subordinated debentures, at amortized cost	97	108	108	—	—
Other liabilities	939	961	815	585	233
Total liabilities	58,992	46,458	47,179	29,369	18,357
COMMITMENTS AND CONTINGENCIES (Note 16)	—	—	—	—	—
Preferred stock, no par value, shares authorized: 2,000, issued and outstanding: 0	0	0	0	0	—
Common stock, no par value, shares authorized in 2025 and 2024: 520,000; issued and outstanding: 295,422 in 2025 and 209,536 in 2024	8,099	5,817	5,803	3,450	1,930
Accumulated deficit	−26	−237	−468	−544	694
Accumulated other comprehensive loss	−233	−462	−340	−427	35
Total shareholders' equity	7,840	5,118	4,995	2,480	2,589
Total liabilities and shareholders' equity	66,832	51,576	52,174	31,849	20,945

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense	54	31	13	14	41
Accretion of investment discounts, net	−92	−78	−68	7	14
Change in cash surrender value of bank-owned life insurance	−26	−19	−16	−8	−8
Depreciation, amortization and accretion, net	141	150	144	28	31
Gain on sale of premises and equipment	−7	−3	−31	−3	−574,000
Additions to residential mortgage servicing rights carried at fair value	−7	−6	−5	−24	−39
Change in fair value of residential mortgage servicing rights carried at fair value	16	7	24	−37	—
Stock-based compensation	33	20	18	10	11
Net increase in equity and other investments	−12	−2	−1	1	352,000
Gain on investment securities, net	−6	0	−2	—	—
Gain on sale of loans and leases, net	−15	−5	−10	2	−146
Change in fair value of loans held for sale	15	0	0	11	21
Origination of loans held for sale	−642	−564	−442	−1,839	−4,747
Proceeds from sales of loans held for sale	748	528	603	2,077	4,953
Net decrease (increase) in other assets	75	−38	−24	170	153
Net decrease in other liabilities	−229	−2	−95	230	−9
Net cash provided by operating activities	746	659	670	1,065	663
Purchases of investment securities available for sale	−2,402	−70	−926	−277	−1,839
Proceeds from investment securities available for sale	2,771	552	1,695	396	89
Purchases of restricted equity securities	−301	−144	−291	−181	−53,000
Redemption of restricted equity securities	390	173	261	144	31
Net change in loans and leases	745	−517	−1,335	−3,744	−735
Proceeds from sales of loans and leases	138	146	748	149	247
Purchases of premises and equipment, net of proceeds from sales	−40	−36	41	—	—
Proceeds from bank-owned life insurance death benefits	9	6	5	4	4
Purchase of bank-owned life insurance	−16	0	−28	0	0
Proceeds from sale of mortgage servicing rights	0	0	57	0	—
Cash received in an acquisition	874	0	274	0	0
Other	4	4	1	2	2
Net cash provided by investing activities	2,172	114	502	−3,533	−1,534
Net (decrease) increase in deposit liabilities	−2,035	114	−651	471	1,973
Net decrease in federal funds purchased	0	0	−14	0	0
Net decrease in securities sold under agreements to repurchase	−30	−16	−127	−183	117
Proceeds from borrowings	11,675	4,900	17,350	1,650	0
Repayment of borrowings	−11,575	−5,750	−16,587	−750	−765
Repayment of subordinated debentures	−10	0	0	0	−35
Net proceeds from issuance of common stock under ESPP	3	0	1	54,000	34,000
Dividends paid on common stock	−335	−300	−270	−182	−184
Repurchase and retirement of common stock	−109	−6	−6	−4	−81
Net cash used in financing activities	−2,416	−1,058	−304	1,001	1,060
Net increase (decrease) in cash and cash equivalents	502	−285	868	−1,467	188
Interest	930	1,078	693	71	43
Income taxes	123	101	139	72	105
Transfer of loans held for investment to loans held for sale	295	0	118	0	0
Transfer of loans held for sale to loans held for investment	13	3	6	25	316

Filings

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