Columbia Banking System, Inc. · NASDAQ:COLB
Columbia Banking System — Q4 2025 Earnings Presentation
32 slides from Columbia Banking System's earnings presentation, Jan 22, 2026
Slide 1: 4th Quarter 2025 Earnings Presentation
4th Quarter 2025 Earnings Presentation January 22, 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: West-Focused Regional Powerhouse
3 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) $8.8 billion base Dividend Yield(1) 5.0% ■ Compelling culture and Commun
Slide 4: Operating in Large, Attractive Western Markets
4 Operating in Large, Attractive Western Markets Established Presence throughout the West(1) Top Regional Bank in Northwest (WA, OR, ID)(1) Strong Foothold in Attractive Markets(1) (population in millions) Total Northwest Northwest Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr ■ Our market
Slide 5: Opportunity to Increase Density and Gain Share throughout Our Footprint
5 Opportunity to Increase Density and Gain Share throughout Our Footprint Enhance Density in the Northwest Improve Competitive Position in California Broaden Presence in Other Western Markets Population Deposits ($mm) COLB Population Deposits ($mm) COLB Population Deposits ($mm) COLB MSA(1) (000s) M
Slide 6: Leveraging Technology to Improve Collaboration and Performance
6 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 7: Financial Highlights
» Q Financial Highlights
Slide 8: Fourth Quarter 2025 Performance Highlights
8 Fourth Quarter 2025 Performance Highlights Reported Operating(1) ■ Closed our acquisition of Pacific Premier on August 31, 2025, and integration efforts continue to progress smoothly. We remain on $215 million $243 million track to complete the systems conversion and branch consolidations Net Inco
Slide 9: YTD 2025 Performance Highlights
9 YTD 2025 Performance Highlights Reported Operating(1) ■ Our results for the twelve months ended December 31, 2025 were impacted by merger expense and the initial provision associated with $550 million $746 million our acquisition of Pacific Premier in Q3 2025. On an operating basis, Net Income Net
Slide 10: Diversified Commercial Bank Business Model Supports Granular Deposit Base
10 Our Diversified Commercial Bank Business Model with a Strong Retail Network Supports our Granular, High-Quality Deposit Base Enterprise-wide Deposit Composition Deposits by Category Customer Deposit Composition(1) Commercial - Small Business, 28% Non-interest, 32% Demand, 20% Non-interest, 34% Co
Slide 11: Securities Portfolio Overview
11 Securities Portfolio Overview Available-for-Sale Securities Portfolio as of December 31, 2025 Available-for-Sale Securities Portfolio % at Gain / Loss as of December 31, 2025 % of Total Current Amortized Unrealized Unrealized AFS Effective Unrealized ($ in millions) Par Cost Gains Losses Fair Val
Slide 12: Loan Roll Forward Activity
12 Loan Roll Forward Activity Three Months Ended December 31, 2025 Twelve Months Ended December 31, 2025 $1,388 $48,462 $10 $47,776 $11,520 $47,776 ($173) ($1,032) ($879) $ in millions $ in millions $4,485 $37,681 ($746) ($2,914) ($2,249) Beginning New Net Prepayments Payoffs or Other Ending Beginni
Slide 13: Diversified, High Quality Loan and Lease Portfolio
13 Diversified, High Quality Loan and Lease Portfolio Mortgage Portfolio Composition at December 31, 2025 Owner Occupied CRE • Portfolio average loan size of $1.2 million • Portfolio average loan size of $470,000 Multifamily, 22% • 4Q25 average loan size of $2.2 million • 4Q25 average loan size of $
Slide 14: C&I and CRE Portfolio Composition
14 C&I and CRE Portfolio Composition C&I Portfolio Composition(1) CRE Portfolio Composition(1) Other, 10.6% Special Purpose, 7.5% Other Healthcare, 4.6% Hotel/Motel, 3.8% Retail, 10.0% Agriculture, 8.5% Dentists, 5.3% Other, 10.3% Gaming, 9.1% Contractors, 8.1% Industrial, 14.6% $12.0 $25.8 Office,
Slide 15: Office Portfolio Details
15 Office Portfolio Details Office Portfolio Metrics at December 31, 2025 Number of Loans by Balance ■ Loans secured by office properties represented 8% of our total loan portfolio Average loan size $1.4 million 1,855 1,746 1,719 as of December 31, 2025. Average LTV 57% ■ Our office portfolio is 45%
Slide 16: Continued Strong Credit Quality
16 Continued Strong Credit Quality Allowance for Credit Losses ("ACL") ■ The remaining credit discount on loans of 1.33% 1.32% 1.31% 1.34% 1.32% $144 million as of December 31, 2025 1.01% provides an additional 30 basis points of 1.17% 1.17% 1.17% 1.02% loss absorption when added to the ACL of $157
Slide 17: ACL Reflects Strong Portfolio Credit Metrics
17 ACL Reflects Strong Portfolio Credit Metrics Allowance for Credit Losses by Loan Segment Total ACL Remaining including Residential Credit Credit Lease & Commercial & Home Discount on Discount on ($ 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 December 31, 2025 Capital Ratios Continued to Trend Up 13.2% 13.6% 13.4% 13.6% 14.0% 14.0% 12.8% 12.9% 13.0% 12.3% 12.3% 11.8% 11.8% 11.6% 11.8% 12.0% 12.0% 10.6% 10.8% 10.5% 9.7% 9.4% 10.0% 10.0% 8.0% 8.0% 6.0% 6.0% 4.0%
Slide 19: Net Interest Income and Net Interest Margin
19 Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin Net Interest Margin: Q3 2025 vs Q4 2025 $627 0.07% 4.06% 0.22% $505 $437 $425 $446 4.06% 3.84% 3.84% 3.75% (0.04)% (0.03)% 3.64% 3.60% Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q3 2025 Loans Cash Deposits Term D
Slide 20: Interest Rate Sensitivity
20 Interest Rate Sensitivity Interest Rate Simulation Impact on Net Interest Income at December 31, 2025(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% 0.4% 5.3% Funds Rate Bearing
Slide 21: Non-Interest Income
21 Non-Interest Income Total Non-Interest Income Operating Non-Interest Income¹ $90 $88 $88 $77 $72 $66 $72 $56 $56 $ in millions $66 $65 $66 $ in millions $56 $56 $50 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Other Treasury Mgmt Card & Merchant Wealth Mgmt Depo
Slide 22: Non-Interest Expense
22 Non-Interest Expense Non-Interest Expense ("NIE") Non-Interest Expense: Q3 2025 vs Q4 2025 $412 $393 $62 $2 $1 $1 $373 $412 $393 $340 $(47) $ in millions $ in millions $307 $278 $267 $264 $270 $270 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q3 2025 Pacific Software Marketing Misc. Non- Q4 2025 GAAP
Slide 23: Appendix
Appendix 23
Slide 24: Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off
24 Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of December 31, 2025 September 30, 2025 Prioritizing Relationships & Profitability < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total
Slide 25: Liquidity Overview
25 Liquidity Overview Select Balance Sheet Items Total Off-Balance Sheet Liquidity Available at December 31, 2025 Sequential Gross Net Quarter ($ in millions) Availability Utilization Availability Three Months Ended Change FHLB lines $17,188 $3,379 $13,809 ($ in millions) Q4 2025 Q3 2025 Q4 2024 Q4
Slide 26: Summary Income Statements
26 Summary Income Statements For the Quarter Ended Q4 2025 Highlights (compared to Q3 2025) ($ in millions, except per-share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 ■ Net interest income increased by $122 Net interest income before provision $627 $505 $446 $425 $437 million, due to two additio
Slide 27: Summary Period-End Balance Sheets
27 Summary Period-End Balance Sheets ($ in millions, except per-share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q4 2025 Highlights (compared to Q3 2025) ASSETS: ■ Loan balances decreased in Q4 2025, due Total assets $66,832 $67,496 $51,901 $51,519 $51,576 to continued run-off in commercial Inter
Slide 28: Non-GAAP Reconciliation: Tangible Capital
28 Non-GAAP Reconciliation: Tangible Capital ($ in millions, except per-share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 Total shareholders' equity a $7,840 $7,790 $5,342 $5,238 $5,118 Less: Goodwill 1,482 1,481 1,029 1,029 1,029 Less: Other intangible assets, net 712 754 430 456 484
Slide 29: Non-GAAP Reconciliation: Adjustments and Average Balances
29 Non-GAAP Reconciliation: Adjustments and Average Balances For the Quarter Ended For the Year Ended ($ in millions, except share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Non-Interest Income Adjustments Gain on investment securities, net $2 $2 $— $2 ($1) $6 $—
Slide 30: Non-GAAP Reconciliation: Income Statements
30 Non-GAAP Reconciliation: Income Statements For the Quarter Ended For the Year Ended ($ in millions) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Net interest income c $627 $505 $446 $425 $437 $2,003 $1,718 Non-interest income (GAAP) d $90 $77 $65 $66 $50 $298 $211 Les
Slide 31: Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics
31 Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics For the Quarter Ended For the Year Ended ($ in millions, except per-share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Select Per-Share & Performance Metrics Earnings per share - basic j/r $0.72
Slide 32: Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted
32 Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted For the Quarter Ended For the Year Ended ($ in millions) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Non-interest expense (GAAP) h $412 $393 $278 $340 $267 $1,423 $1,104 Less: Non-interest expense adjus
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