Columbia Banking System, Inc. · NASDAQ:COLB
Columbia Banking System — Q2 2026 Earnings Presentation
35 slides from Columbia Banking System's earnings presentation, Jul 23, 2026
Slide 1: 2nd Quarter 2026 Earnings Presentation
2nd Quarter 2026 Earnings Presentation July 23, 2026
Slide 2: Disclaimer
2 Disclaimer FORWARD-LOOKING STATEMENTS This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the acquisition of Pacific Premier Bancorp, Inc. (“Pacific Premier”) by Colu
Slide 3: Table of Contents
3 Table of Contents Page Columbia Corporate Overview 4 2nd Quarter 2026 8 Appendix 22 Loan Portfolio Slides 23 Liquidity Overview 27 Securities Portfolio 28 Summary Income Statements 29 Summary Balance Sheets 30 Non-GAAP Reconciliations 31
Slide 4: West-Focused Regional Powerhouse
4 West-Focused Regional Powerhouse Columbia at a Glance Completed Western Footprint(3) Why Columbia? Ticker COLB ■ Business Bank of Choice strategy Corporate cultivates a granular, low-cost core deposit Market Capitalization(1) $9.2 billion base Dividend Yield(1) 4.5% ■ Compelling culture and Commun
Slide 5: Operating in Large, Attractive Western Markets
5 Operating in Large, Attractive Western Markets Established Presence throughout the West(1) Top Regional Bank in Northwest (WA, OR, ID)(1) Strong Foothold in Attractive Markets(1) (population in millions) Total Northwest Northwest Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr ■ Our market
Slide 6: Opportunity to Increase Density and Gain Share throughout Our Footprint
6 Opportunity to Increase Density and Gain Share throughout Our Footprint Enhance Density in the Northwest Improve Competitive Position in California Broaden Presence in Other Western Markets Population Deposits ($mm) COLB Population Deposits ($mm) COLB Population Deposits ($mm) COLB MSA(1) (000s) M
Slide 7: Leveraging Technology to Improve Collaboration and Performance
7 Leveraging Technology to Improve Collaboration and Performance Creating Operational Efficiencies Enhancing the Customer Experience Driving Revenue Generation ■ Embracing AI capabilities to improve ■ Offering differentiated small business and ■ Building upon our recently acquired, best- associate p
Slide 8: 2nd Quarter 2026
» Q 2nd Quarter 2026
Slide 9: YTD 2026 Performance Highlights
9 YTD 2026 Performance Highlights Reported Operating(1) ■ We continue to focus on operational enhancements, including balance sheet optimization, growing sustainable core fee income, and $400 million $426 million maintaining our cost-conscious culture and disciplined credit Net Income Net Income sta
Slide 10: Second Quarter 2026 Performance Highlights
10 Second Quarter 2026 Performance Highlights Reported Operating(1) ■ During the second quarter, we opened a branch in Colorado Springs and a financial hub in Las Vegas. We continue to strategically $208 million $217 million expand and refine our physical footprint to support relationship- Net Incom
Slide 11: Net Income and Earnings-per-Share
11 Net Income and Earnings-per-Share Net Income Earnings-per-Share - diluted (“EPS”) $0.85 $243 $0.82 $0.73 $0.76 $0.73 $0.76 $204 $215 $209 $208 $217 $0.72 $0.66 $0.72 $192 $ in millions $152 $160 $0.40 $96 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 GAAP Net Inc
Slide 12: Key Earnings Drivers: Balance Sheet
12 Key Earnings Drivers: Balance Sheet % Change Q2 2026 Highlights (compared to Q1 2026) Sequ. Year over ($ in millions, except per-share data) Q2 2026 Q1 2026 Q2 2025 Quarter Year ■ Balance sheet optimization continued to AVERAGE ASSETS: drive minor contraction in average interest- Interest-bearing
Slide 13: Net Interest Income and Net Interest Margin
13 Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin Net Interest Margin: Q1 2026 vs Q2 2026 $627 $594 $589 $505 3.96% 0.09% $446 4.06% 0.01% 3.93% 3.96% 3.93% 3.84% (0.03)% (0.04)% (0.06)% 3.75% Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q1 2026 Interest Loans¹ In
Slide 14: Interest Rate Sensitivity
14 Interest Rate Sensitivity Interest Rate Simulation Impact on Net Interest Income at June 30, 2026(1) Deposit and Funding Repricing Betas During Current Rate Cycle Ramp Shock Cost of: Year 1 Year 2 Year 1 Year 2 Effective Fed Interest- Up 200 basis points 0.0% 3.4% 0.7% 5.4% Funds Rate Bearing Tot
Slide 15: Non-Interest Income
15 Non-Interest Income Total Non-Interest Income Operating Non-Interest Income¹ $91 $88 $91 $90 $88 $88 $81 $83 $81 $72 $77 $66 $ in millions $72 $ in millions $65 $66 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Other Treasury Mgmt Card & Merchant Wealth Mgmt Depo
Slide 16: Non-Interest Expense
16 Non-Interest Expense Non-Interest Expense ("NIE") Non-Interest Expense: Q1 2026 vs Q2 2026 $412 $393 $394 $373 $369 $375 $394 $2 $4 $366 $375 $(5) $(2) $(2) $ in millions $(16) $ in millions $307 $278 $270 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q1 2026 Payroll Annual Software Intangible Misc. No
Slide 17: Continued Strong Credit Quality
17 Continued Strong Credit Quality Allowance for Credit Losses ("ACL") ■ The remaining credit discount on loans of 1.31% 1.34% 1.32% 1.28% 1.26% $120 million as of June 30, 2026 provides 1.01% 1.02% 1.00% an additional 25 basis points of loss 1.17% 1.01% absorption when added to the ACL of $157 $144
Slide 18: ACL Reflects Strong Portfolio Credit Metrics
18 ACL Reflects Strong Portfolio Credit Metrics Allowance for Credit Losses by Loan Segment Total ACL Remaining including Residential Credit Credit Lease & Commercial & Home Discount on Discount on ($ in millions) Commercial Equipment Real Estate Equity Consumer Total(1) Loans Loans(1) Balance as of
Slide 19: Capital Management
19 Capital Management Regulatory Capital Ratios: Bank & Holding Company as of June 30, 2026 Capital Deployment Supports Active Ratio Management 13.4% 13.6% 13.5% 13.4% 14.0% 13.0% 13.4% 14.0% 13.0% 12.1% 12.1% 11.8% 11.7% 11.6% 11.6% 11.6% 11.6% 12.0% 12.0% 10.8% 9.7% 9.3% 10.0% 10.0% 8.0% 8.0% 6.0%
Slide 20: Diversified, High Quality Loan and Lease Portfolio
20 Diversified, High Quality Loan and Lease Portfolio Loan Composition Geographic Distribution Q2 2026 Activity ($ millions) C&I, 23% WA Other, 6% Puget Sound, 16% $1,303 Owner Occupied Portland Metro, 11% FinPac, 3% CRE, 16% ($250) $47,697 Mortgage, 11% Other, 18% $47.2 $47.2 OR Other, 11% $28 $47,
Slide 21: Diversified Commercial Bank Model Supports Granular, High-Quality Deposit Base
21 Our Diversified Commercial Bank Business Model with a Strong Retail Network Supports our Granular, High-Quality Deposit Base Enterprise-wide Deposit Composition Deposits by Category Customer Deposit Composition(1) Commercial - Non-interest, 33% Small Business, Non-interest, 34% Commercial, 31% De
Slide 22: Appendix
22 Appendix Page Loan Portfolio Slides 23 Liquidity Overview 27 Securities Portfolio 28 Summary Income Statements 29 Summary Balance Sheets 30 Non-GAAP Reconciliations 31
Slide 23: Granular Loan and Lease Portfolios with Strong Underlying Fundamentals
23 Granular Loan and Lease Portfolios with Strong Underlying Fundamentals Commercial & Industrial Owner Occupied CRE Lease & Equipment Finance (FinPac) ■ Portfolio average loan size of $821,000 ■ Portfolio average loan size of $1.2 million ■ Portfolio average loan & lease size of $41,000 ■ 2Q26 aver
Slide 24: C&I and CRE Portfolio Composition
24 C&I and CRE Portfolio Composition C&I Portfolio Composition(1) CRE Portfolio Composition(1) Other, 10.5% Special Purpose, 7.4% Franchise/ QSR, 2.8% Retail, 9.7% Hotel/Motel, 3.7% Other Healthcare, 4.6% Agriculture, 8.7% Other, 10.1% Dentists, 4.9% Contractors, 8.2% Gaming, 7.3% Industrial, 14.9%
Slide 25: Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off
25 Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of June 30, 2026 March 31, 2026 Prioritizing Relationships & Profitability < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total ■ Our r
Slide 26: Office Portfolio Details
26 Office Portfolio Details Office Portfolio Metrics at June 30, 2026 Number of Loans by Balance ■ Loans secured by office properties represented 8% of our total loan portfolio Average loan size $1.4 million 1,818 1,746 1,719 as of June 30, 2026. Average LTV 57% ■ Our office portfolio is 47% owner D
Slide 27: Liquidity Overview
27 Liquidity Overview Select Balance Sheet Items Total Off-Balance Sheet Liquidity Available at June 30, 2026 Sequential Gross Net Quarter ($ in millions) Availability Utilization Availability Three Months Ended Change FHLB lines $16,808 $4,429 $12,379 ($ in millions) Q2 2026 Q1 2026 Q2 2025 Q2 2026
Slide 28: Securities Portfolio Overview
28 Securities Portfolio Overview Available-for-Sale Securities Portfolio as of June 30, 2026 Current Amortized Unrealized Unrealized Fair % of Total Effective Book ($ in millions) Par Cost Gains Losses Value AFS Portfolio Duration Yield U.S. Treasuries $260 $259 $0 ($1) $258 2% 1.4 3.54 % U.S. Agenc
Slide 29: Summary Income Statements
29 Summary Income Statements For the Quarter Ended Q2 2026 Highlights (compared to Q1 2026) ($ in millions, except per-share data) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 ■ Net interest income decreased by Net interest income before provision $589 $594 $627 $505 $446 $5 million from the prior quarte
Slide 30: Summary Period-End Balance Sheets
30 Summary Period-End Balance Sheets ($ in millions, except per-share data) Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q2 2026 Highlights (compared to Q1 2026) ASSETS: ■ Loan balances decreased in Q2 2026, as Total assets $65,380 $66,027 $66,832 $67,496 $51,901 commercial loan growth only partially off
Slide 31: Non-GAAP Reconciliation: Tangible Capital
31 Non-GAAP Reconciliation: Tangible Capital ($ in millions, except per-share data) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 Total shareholders' equity a $7,552 $7,664 $7,840 $7,790 $5,342 Less: Goodwill 1,482 1,482 1,482 1,481 1,029 Less: Other intangible assets, net 633 671 712 754 430 T
Slide 32: Non-GAAP Reconciliation: Adjustments and Average Balances
32 Non-GAAP Reconciliation: Adjustments and Average Balances For the Quarter Ended For the Six Months Ended ($ in millions, except share data) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Non-Interest Income Adjustments Gain on investment securities, net ($1) $— $2 $2 $— ($
Slide 33: Non-GAAP Reconciliation: Income Statements
33 Non-GAAP Reconciliation: Income Statements For the Quarter Ended For the Six Months Ended ($ in millions) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Net interest income c $589 $594 $627 $505 $446 $1,183 $871 Non-interest income (GAAP) d $88 $83 $90 $77 $65 $171 $131 Le
Slide 34: Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics
34 Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics For the Quarter Ended For the Six Months Ended ($ in millions, except per-share data) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Select Per-Share & Performance Metrics Earnings per share - basic j/r $0
Slide 35: Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted
35 Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted For the Quarter Ended For the Six Months Ended ($ in millions) 6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025 6/30/2026 6/30/2025 Non-interest expense (GAAP) h $375 $394 $412 $393 $278 $769 $618 Less: Non-interest expense adjust
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