Columbia Banking System, Inc. · NASDAQ:COLB
Columbia Banking System — Q1 2026 Earnings Presentation
34 slides from Columbia Banking System's earnings presentation, Apr 23, 2026
Slide 1: 1st Quarter 2026 Earnings Presentation
1st Quarter 2026 Earnings Presentation April 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 1st Quarter 2026 8 Appendix 21 Loan Portfolio Slides 22 Liquidity Overview 26 Securities Portfolio 27 Summary Income Statements 28 Summary Balance Sheets 29 Non-GAAP Reconciliations 30
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) $8.4 billion base Dividend Yield(1) 5.1% ■ Compelling culture and Commun
Slide 5: Operating in Large, Attractive Western Markets
5 Operating in Large, Attractive Western Markets Established Presence throughout the West(1) Top Regional Bank in Northwest (WA, OR, ID)(1) Strong Foothold in Attractive Markets(1) (population in millions) Total Northwest Northwest Rank Bank (HQ State) Assets ($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: 1st Quarter 2026
» Q 1st Quarter 2026
Slide 9: First Quarter 2026 Performance Highlights
9 First Quarter 2026 Performance Highlights Reported Operating(1) ■ Seamlessly completed the systems conversion while minimizing impact to customers and consolidated nine branches related to our $192 million $209 million August 2025 acquisition of Pacific Premier. We continue to expect to Net Income
Slide 10: Net Income and Earnings-per-Share
10 Net Income and Earnings-per-Share Net Income Earnings-per-Share - diluted (“EPS”) $0.85 $243 $0.82 $215 $209 $0.73 $0.76 $0.72 $0.72 $204 $0.67 $0.66 $192 $ in millions $152 $160 $139 $0.41 $0.40 $87 $96 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 GAAP Net Inco
Slide 11: Key Earnings Drivers: Balance Sheet
11 Key Earnings Drivers: Balance Sheet % Change Q1 2026 Highlights (compared to Q4 2025) Sequ. Year over ($ in millions, except per-share data) Q1 2026 Q4 2025 Q1 2025 Quarter Year ■ Continued balance sheet optimization AVERAGE ASSETS: contributed to some minor contraction in Interest-bearing cash a
Slide 12: Net Interest Income and Net Interest Margin
12 Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin Net Interest Margin: Q4 2025 vs Q1 2026 $627 $594 4.06% $505 0.10% 3.96% $425 $446 4.06% 3.96% (0.11)% (0.02)% 3.84% (0.07)% 3.75% 3.60% Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q4 2025 Q4 Items¹ Loans¹ Deposit
Slide 13: Interest Rate Sensitivity
13 Interest Rate Sensitivity Interest Rate Simulation Impact on Net Interest Income at March 31, 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 0.1% 3.6% 0.7% 5.6% Funds Rate Bearing To
Slide 14: Non-Interest Income
14 Non-Interest Income Total Non-Interest Income Operating Non-Interest Income¹ $90 $88 $88 $81 $83 $81 $72 $77 $66 $56 $ in millions $72 $ in millions $66 $65 $66 $56 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Other Treasury Mgmt Card & Merchant Wealth Mgmt Depo
Slide 15: Non-Interest Expense
15 Non-Interest Expense Non-Interest Expense ("NIE") Non-Interest Expense: Q4 2025 vs Q1 2026 $412 $393 $394 $412 $6 $2 $373 $369 $394 $340 $(11) $(1) $(14) $ in millions $ in millions $307 $270 $278 $270 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q4 2025 Payroll Other Intangible Misc. Non- Q1 2026 GAA
Slide 16: Continued Strong Credit Quality
16 Continued Strong Credit Quality Allowance for Credit Losses ("ACL") ■ The remaining credit discount on loans of 1.32% 1.31% 1.34% 1.32% 1.28% $133 million as of March 31, 2026 1.01% 1.02% provides an additional 28 basis points of 1.17% 1.17% 1.00% loss absorption when added to the ACL of $157 $14
Slide 17: ACL Reflects Strong Portfolio Credit Metrics
17 ACL Reflects Strong Portfolio Credit Metrics Allowance for Credit Losses by Loan Segment Total ACL Remaining including Residential Credit Credit Lease & Commercial & Home Discount on Discount on ($ in millions) Commercial Equipment Real Estate Equity Consumer Total(1) Loans Loans(1) Balance as of
Slide 18: Capital Management
18 Capital Management Regulatory Capital Ratios: Bank & Holding Company as of March 31, 2026 Capital Deployment Supports Active Ratio Management 13.4% 13.6% 13.3% 14.0% 13.0% 13.3% 14.0% 12.9% 13.0% 12.0% 12.0% 11.6% 11.8% 12.0% 11.5% 11.5% 12.0% 11.5% 10.6% 10.8% 9.7% 9.3% 10.0% 10.0% 8.0% 8.0% 6.0
Slide 19: Diversified, High Quality Loan and Lease Portfolio
19 Diversified, High Quality Loan and Lease Portfolio Loan Composition Geographic Distribution Q1 2026 Activity ($ millions) C&I, 23% WA Other, 6% Puget Sound, 16% $1,243 Owner Occupied Portland Metro, 11% FinPac, 3% CRE, 15% ($269) $47,776 $64 $47,697 Mortgage, 11% Other, 17% OR Other, 11% $47.7 $4
Slide 20: Our Diversified Commercial Bank Business Model with a Strong Retail Network
20 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% Demand, 20% Commer
Slide 21: Appendix
21 Appendix Page Loan Portfolio Slides 22 Liquidity Overview 26 Securities Portfolio 27 Summary Income Statements 28 Summary Balance Sheets 29 Non-GAAP Reconciliations 30
Slide 22: Granular Loan and Lease Portfolios with Strong Underlying Fundamentals
22 Granular Loan and Lease Portfolios with Strong Underlying Fundamentals Commercial & Industrial Owner Occupied CRE Lease & Equipment Finance (FinPac) ■ Portfolio average loan size of $811,000 ■ Portfolio average loan size of $1.2 million ■ Portfolio average loan & lease size of $41,000 ■ 1Q26 aver
Slide 23: C&I and CRE Portfolio Composition
23 C&I and CRE Portfolio Composition C&I Portfolio Composition(1) CRE Portfolio Composition(1) Other, 10.4% Special Purpose, 7.4% Franchise/ QSR, 2.8% Hotel/Motel, 3.8% Other Healthcare, 4.9% Retail, 9.9% Agriculture, 8.3% Other, 10.5% Dentists, 5.0% Contractors, 8.2% Gaming, 7.5% Industrial, 14.6%
Slide 24: Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off
24 Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of March 31, 2026 December 31, 2025 Prioritizing Relationships & Profitability < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total ■ O
Slide 25: Office Portfolio Details
25 Office Portfolio Details Office Portfolio Metrics at March 31, 2026 Number of Loans by Balance ■ Loans secured by office properties represented 7% of our total loan portfolio Average loan size $1.4 million 1,842 1,746 1,719 as of March 31, 2026. Average LTV 57% ■ Our office portfolio is 45% owner
Slide 26: Liquidity Overview
26 Liquidity Overview Select Balance Sheet Items Total Off-Balance Sheet Liquidity Available at March 31, 2026 Sequential Gross Net Quarter ($ in millions) Availability Utilization Availability Three Months Ended Change FHLB lines $17,003 $3,579 $13,424 ($ in millions) Q1 2026 Q4 2025 Q1 2025 Q1 202
Slide 27: Securities Portfolio Overview
27 Securities Portfolio Overview Available-for-Sale Securities Portfolio as of March 31, 2026 Current Amortized Unrealized Unrealized Fair % of Total Effective Book ($ in millions) Par Cost Gains Losses Value AFS Portfolio Duration Yield U.S. Treasuries $185 $185 $0 ($1) $184 2% 1.5 3.47 % U.S. Agen
Slide 28: Summary Income Statements
28 Summary Income Statements For the Quarter Ended Q1 2026 Highlights (compared to Q4 2025) ($ in millions, except per-share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 ■ Net interest income decreased by $33 Net interest income before provision $594 $627 $505 $446 $425 million, as the prior quarte
Slide 29: Summary Period-End Balance Sheets
29 Summary Period-End Balance Sheets ($ in millions, except per-share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q1 2026 Highlights (compared to Q4 2025) ASSETS: ■ Loan balances decreased in Q1 2026, due Total assets $66,027 $66,832 $67,496 $51,901 $51,519 to continued runoff in transactional loa
Slide 30: Non-GAAP Reconciliation: Tangible Capital
30 Non-GAAP Reconciliation: Tangible Capital ($ in millions, except per-share data) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Total shareholders' equity a $7,664 $7,840 $7,790 $5,342 $5,238 Less: Goodwill 1,482 1,482 1,481 1,029 1,029 Less: Other intangible assets, net 671 712 754 430 456 T
Slide 31: Non-GAAP Reconciliation: Adjustments and Average Balances
31 Non-GAAP Reconciliation: Adjustments and Average Balances For the Quarter Ended ($ in millions, except share data) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Non-Interest Income Adjustments Gain on investment securities, net $— $2 $2 $— $2 Gain (loss) on swap derivatives — 1 (1) (1) (1) G
Slide 32: Non-GAAP Reconciliation: Income Statements
32 Non-GAAP Reconciliation: Income Statements For the Quarter Ended ($ in millions) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Net interest income c $594 $627 $505 $446 $425 Non-interest income (GAAP) d $83 $90 $77 $65 $66 Less: Non-interest income adjustments a (2) (2) (5) 1 (10) Operating
Slide 33: Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics
33 Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics For the Quarter Ended ($ in millions, except per-share data) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Select Per-Share & Performance Metrics Earnings per share - basic j/r $0.66 $0.72 $0.40 $0.73 $0.41 Earnings per shar
Slide 34: Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted
34 Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted For the Quarter Ended ($ in millions) 3/31/2026 12/31/2025 9/30/2025 6/30/2025 3/31/2025 Non-interest expense (GAAP) h $394 $412 $393 $278 $340 Less: Non-interest expense adjustments b (25) (39) (86) (8) (70) Operating non-interest
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