COLUMBIA BANKING SYSTEM, INC.COLB

COLUMBIA BANKING SYSTEM, INC. Goodwill & Intangibles Disclosure

10-KFiled Feb 26, 20262 min read
Goodwill and Other Intangible Assets
Goodwill represents the excess of the total acquisition price paid over the fair value of the assets acquired, net of fair value of liabilities assumed in connection with mergers and acquisitions. In 2025, the Company recorded $453 million of goodwill associated with the acquisition of Pacific Premier. Additional information on the acquisition and purchase price allocations is provided in Note 2 – Business Combinations.

The Company performed its annual impairment assessment as of October 31 and concluded that there was no impairment. As of December 31, 2025, 2024, and 2023, it was determined there were no events or circumstances which would more likely than not reduce the fair value of our reporting unit below its carrying amount.

The following table presents the changes in the carrying amount of goodwill:
(in millions)Goodwill
Balance, December 31, 2024
$1,029 
  Acquisitions and adjustments453 
Balance, December 31, 2025
$1,482 

Core deposit intangible assets values were determined based on the present value of the expected cost savings attributable to the core deposit funding relative to an alternative source of funding. In 2025, the Company recorded $355 million of core deposit intangibles associated with the acquisition of Pacific Premier.

The intangible assets are being amortized on an accelerated basis over a period of 10 years. No impairment losses have been recognized in the periods presented.

The following table summarizes other intangible assets as of the dates presented:
(in millions)
Gross Carrying Amount
Accumulated AmortizationNet Carrying Amount
December 31, 2025
$1,065 $(353)$712 
December 31, 2024$710 $(226)$484 

Amortization expense recognized on intangible assets was $127 million, $119 million, and $111 million for the years ended December 31, 2025, 2024, 2023, respectively.
The table below presents the forecasted amortization expense for intangible assets as of December 31, 2025:
(in millions)
YearExpected Amortization
2026
$155 
2027136 
2028116 
202997 
203077 
Thereafter131 
Total intangible assets$712 

Historical Timeline

Fiscal YearFiled
2025Feb 26, 2026Showing above
2024Feb 25, 2025
2023Feb 27, 2024
2022Feb 24, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Mar 1, 2018

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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