Columbia (NASDAQ: COLB) Q1 2026 EPS reaches $0.66 as buybacks rise

Q: How did Columbia Banking System (COLB) perform in Q1 2026?

Columbia Banking System reported Q1 2026 net income of $192 million and diluted EPS of $0.66 . Operating net income was $209 million , reflecting higher revenue after the Pacific Premier acquisition, lower merger costs, and continued balance sheet optimization during the quarter.

Q: What were Columbia Banking System’s key profitability and margin metrics in Q1 2026?

Columbia posted a Q1 2026 net interest margin of 3.96% and net interest income of $594 million . Return on average assets was 1.18% , while return on average common equity reached 10.00% , indicating solid profitability supported by higher scale and cost control.

Q: How did loans, deposits, and liquidity trend for Columbia Banking System in Q1 2026?

At March 31, 2026, Columbia reported $47.7 billion in loans and leases and $53.5 billion in deposits. Total assets were $66.0 billion . Management highlighted balance sheet optimization, including reduced excess cash and lower reliance on wholesale funding during the quarter.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Columbia Banking System, Inc. reported solid first quarter 2026 results with mixed trends. Net income was $192 million and diluted EPS was $0.66, while operating net income reached $209 million and operating diluted EPS was $0.72.

Net interest income was $594 million and net interest margin was 3.96%, down 10 basis points from the prior quarter after one-time Q4 2025 benefits did not repeat. Non-interest income was $83 million, and non-interest expense declined to $394 million, helped by lower merger costs and acquisition-related savings.

Total assets were $66.0 billion, with loans and leases of $47.7 billion and deposits of $53.5 billion. Credit metrics remained controlled: net charge-offs were 0.30% of average loans and leases (annualized), non-performing assets were 0.40% of total assets, and the allowance for credit losses was 1.00% of loans and leases. Capital stayed strong, with an estimated total risk-based capital ratio of 13.3% and common equity tier 1 ratio of 11.5%. The company paid a quarterly dividend of $0.37 per share and repurchased 6.5 million shares for $200 million while progressing with integration of the Pacific Premier acquisition.

Insights

Results show strong profitability and capital, with modest margin pressure and higher credit costs.

Columbia Banking System delivered Q1 2026 net income of $192 million and diluted EPS of $0.66, with operating net income at $209 million. Revenue (GAAP) was $677 million, up 38% year over year, reflecting the Pacific Premier acquisition and core growth.

Net interest margin of 3.96% fell 10 basis points sequentially after prior-quarter one-time benefits, while the cost of interest-bearing deposits edged down to 2.04%. Non-interest expense decreased to $394 million, and operating efficiency metrics improved as merger and restructuring costs declined and cost savings were realized.

Credit remained manageable: net charge-offs were 0.30% of average loans and leases (annualized), and non-performing assets were 0.40% of total assets, with the allowance for credit losses at 1.00% of loans and leases. Capital ratios stayed comfortably above “well-capitalized” levels, even after $200 million of share repurchases and a $0.37 dividend, suggesting the bank maintained ample loss-absorbing capacity while returning capital.

8-K Event Classification

3 items: 2.02, 7.01, 9.01

3 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income: $192 million Operating net income: $209 million Diluted EPS: $0.66 +5 more

8 metrics

Net income $192 million Q1 2026 GAAP net income

Operating net income $209 million Q1 2026 non-GAAP operating net income

Diluted EPS $0.66 Q1 2026 earnings per common share – diluted

Net interest income $594 million Q1 2026 net interest income

Net interest margin 3.96% Q1 2026 net interest margin vs 4.06% in Q4 2025

Total assets $66.0 billion Total assets as of March 31, 2026

Loans and leases $47.7 billion Gross loans and leases as of March 31, 2026

CET1 capital ratio 11.5% Estimated common equity tier 1 risk-based capital ratio at March 31, 2026

Key Terms

net interest margin, pre-provision net revenue, allowance for credit losses, tangible book value per common share, +1 more

5 terms

net interest margin financial

"Columbia's net interest margin was 3.96% for the first quarter of 2026, down 10 basis points"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

pre-provision net revenue financial

"Pre-provision net revenue 1 | $283 | | $305 | | $151"

Pre-provision net revenue is a bank’s income from core operations — interest earned minus interest paid plus fees and other operating income, after operating costs — measured before setting aside funds for potential loan losses. Investors use it to gauge how well a bank’s everyday business generates money independent of one-time loss reserves, like judging a store’s sales and operating profit before accounting for an expected number of returned items.

allowance for credit losses financial

"The allowance for credit losses ("ACL") was $478 million, or 1.00% of loans and leases"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

non-performing assets financial

"Non-performing assets were $264 million, or 0.40% of total assets, as of March 31, 2026"

Loans or other credit exposures that are not producing expected income because borrowers have stopped making scheduled payments for a significant period (commonly around 90 days). Think of it like a business lending money that has gone quiet — the cash flow stops while the lender still carries the debt on its books. High levels of non-performing assets matter to investors because they reduce a lender’s earnings, tie up capital that could be used for growth, and signal higher risk of future losses.

Earnings Snapshot

Revenue (GAAP): $677 million

Q1 2026

Revenue (GAAP) $677 million +38% YoY

Net income (GAAP) $192 million +121% YoY

Diluted EPS (GAAP) $0.66 +61% YoY

Net interest margin 3.96% +0.36 pts YoY

Understanding 8-K Material Events →

04/23/2026 - 04:13 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report: April 23, 2026

(Date of earliest event reported)

Columbia Banking System, Inc.

(Exact Name of Registrant as Specified in Its Charter)


Washington	000-20288	91-1422237
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

1301 A Street

Tacoma, Washington 98402-4200

(address of Principal Executive Offices)(Zip Code)

(253) 305-1900

(Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ☐ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ☐ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ☐ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ☐ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


TITLE OF EACH CLASS	TRADING SYMBOL	NAME OF EXCHANGE
Common Stock, No Par Value	COLB	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ☐ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]


Item 2.02			Results of Operations and Financial Condition.

On April 23, 2026, Columbia Banking System, Inc. issued a press release announcing first quarter 2026 financial results. The release is attached hereto as Exhibit 99.1. Columbia Banking System, Inc. will include final financial statements and additional analyses for the quarter ended March 31, 2026 as part of its quarterly report on Form 10-Q covering that period. The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the “Securities Act”).


Item 7.01			Regulation FD Disclosure.

On April 23, 2026, Columbia Banking System, Inc. issued an investor slide presentation that it intends to review in conjunction with its earnings release conference call on April 23, 2026. The slides attached hereto as Exhibit 99.2 to this report and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.


Item 9.01			Financial Statements and Exhibits.
(d)			EXHIBITS
			99.1 Press Release announcing first quarter 2026 financial results dated April 23, 2026
			99.2 First Quarter 2026 Investor Presentation
			104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


			Columbia Banking System, Inc. (Registrant)

Dated: April 23, 2026			By: /s/ Ivan A. Seda Ivan A. Seda Executive Vice President, Chief Financial Officer

EXHIBIT 99.1

COLUMBIA BANKING SYSTEM, INC. REPORTS FIRST QUARTER 2026 RESULTS

$192 million

$209 million

$0.66

$0.72

Net income

Operating net income1

Earnings per common share - diluted

Operating earnings per common share - diluted1


CEO Commentary
"Our first quarter results reflect continued execution against the priorities we have previously outlined: delivering sustainable performance, strengthening our balance sheet, and returning excess capital to shareholders," said Clint Stein, Chair, CEO & President. "During the quarter, we increased capital returns, reflecting our confidence in earnings durability and ongoing capital generation. We also made further progress optimizing our balance sheet, as commercial loan growth and muted seasonal deposit trends contributed to the profitable remix of assets and liabilities, positioning Columbia for attractive returns over time. At the same time, our credit performance continues to benefit from disciplined underwriting and our diversified, relationship-based loan portfolio that is performing as designed. With these actions, we remain focused on delivering consistent, repeatable performance and creating long‑term value for our shareholders."
Clint Stein, Chair, CEO & President of Columbia Banking System, Inc.


1Q26 HIGHLIGHTS (COMPARED TO 4Q25)

Net Interest Income and NIM			•Net interest income decreased by $33 million from the prior quarter, which included $17 million of net interest income related to premium amortization on acquired time deposits and an accelerated loan repayment that did not repeat in the current quarter. The remaining decrease reflects lower average interest-earning asset balances, partially offset by a more profitable balance sheet mix.
			•Net interest margin was 3.96%, down 10 basis points from the prior quarter, which included an 11-basis point benefit related to premium amortization on acquired time deposits and an accelerated loan repayment, neither of which repeated in the current quarter.

Non-Interest Income and Expense			•Non-interest income decreased by $7 million, due in part to lower swap, syndication, and international banking revenue following strong performance in the prior quarter, as well as an expected slow down in customer activity that is typical for the first quarter.
			•Non-interest expense decreased by $18 million, due to lower merger expense and the realization of acquisition-related cost savings.

Credit Quality			•Net charge-offs were 0.30% of average loans and leases (annualized), compared to 0.25% for the prior quarter.
			•Provision expense was $28 million, compared to $23 million for the prior quarter.
			•Non-performing assets to total assets ratio was 0.40%, compared to 0.30% as of December 31, 2025.

Capital			•Estimated total risk-based capital ratio of 13.3% and estimated common equity tier 1 risk-based capital ratio of 11.5%.
			•Declared a quarterly cash dividend of $0.37 per common share on February 13, 2026, which was paid March 16, 2026.
			•Repurchased $200 million of common stock under our current repurchase plan.

Notable Items			•Our first small business and retail campaign of 2026, which runs through April 30, 2026, has brought nearly $450 million in new deposits to the bank through mid-April and has also been successful in generating new SBA lending relationships.


1Q26 KEY FINANCIAL DATA

PERFORMANCE METRICS	1Q26	4Q25	1Q25
Return on average assets	1.18%	1.27%	0.68%
Return on average common equity	10.00%	10.92%	6.73%
Return on average tangible common equity1	13.88%	15.24%	9.45%
Operating return on average assets1	1.28%	1.44%	1.10%
Operating return on average common equity1	10.89%	12.34%	10.87%
Operating return on average tangible common equity1	15.11%	17.22%	15.26%
Net interest margin	3.96%	4.06%	3.60%
Efficiency ratio	58.03%	57.30%	69.06%
Operating efficiency ratio, as adjusted 1	53.68%	51.39%	55.11%

INCOME STATEMENT ($ in millions, excl. per share data)	1Q26	4Q25	1Q25
Net interest income	$594	$627	$425
Provision for credit losses	$28	$23	$27
Non-interest income	$83	$90	$66
Non-interest expense	$394	$412	$340
Pre-provision net revenue1	$283	$305	$151
Operating pre-provision net revenue1	$306	$342	$211
Earnings per common share - diluted	$0.66	$0.72	$0.41
Operating earnings per common share - diluted1	$0.72	$0.82	$0.67
Dividends paid per share	$0.37	$0.37	$0.36

BALANCE SHEET ($ in millions, excl. per share data)	1Q26	4Q25	1Q25
Total assets	$66,027	$66,832	$51,519
Loans and leases	$47,697	$47,776	$37,616
Deposits	$53,489	$54,211	$42,218
Book value per common share	$26.47	$26.54	$24.93
Tangible book value per common share1	$19.03	$19.11	$17.86

Investor Contact

Jacquelynne "Jacque" Bohlen, SVP/Director of Investor Relations, 503-727-4100, jacquebohlen@columbiabank.com

1 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 2

Organizational Update

Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") closed its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") on August 31, 2025, and completed the systems conversion and nine branch consolidations during the first quarter of 2026. We continue to expect to realize all previously disclosed related cost savings by June 30, 2026.

Net Interest Income and Net Interest Margin

Net interest income was $594 million for the first quarter of 2026, down $33 million from the prior quarter, which included $5 million in interest income related to an accelerated loan repayment and a $12 million reduction to interest expense related to the amortization of a premium related to Pacific Premier's time deposits, neither of which repeated in the current quarter. The remaining decrease in net interest income between periods largely reflects lower average interest-earning asset balances, partially offset by an improved mix of higher-yielding loans and investment securities.

Columbia's net interest margin was 3.96% for the first quarter of 2026, down 10 basis points from the fourth quarter of 2025. The fourth quarter's net interest margin included an 8-basis point benefit related to the amortization of a premium on acquired time deposits and a 3-basis point benefit related to an accelerated loan repayment. Net interest margin was otherwise consistent between periods, as lower yields on loans and cash following reductions to the federal funds rate during the fourth quarter were offset by lower deposit costs.

The cost of interest-bearing deposits decreased 4 basis points from the prior quarter to 2.04% for the first quarter of 2026, compared to 2.08% for the fourth quarter of 2025. During the fourth quarter, we recorded a $12 million benefit to interest expense related to the amortization of a premium on acquired time deposits, which favorably impacted the cost of interest-bearing deposits by 12 basis points. The decrease during the first quarter reflects our active management of deposit rates ahead of and following reductions to the federal funds rate, as well as a lower mix of higher-cost brokered deposits. The cost of interest-bearing deposits was 2.02% for the month of March and 1.98% as of March 31, 2026.

Columbia's cost of interest-bearing liabilities decreased 3 basis points from the prior quarter to 2.24% for the first quarter of 2026, compared to 2.27% for the fourth quarter of 2025. The previously discussed premium amortization favorably impacted the cost of interest-bearing liabilities for the fourth quarter of 2025 by 11 basis points. The cost of interest-bearing liabilities was 2.23% for the month of March and 2.19% as of March 31, 2026. Please refer to the Q1 2026 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.

Non-interest Income

Non-interest income was $83 million for the first quarter of 2026, down $7 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value gain of $2 million for the first quarter, unchanged from the fourth quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $81 million2 for the first quarter of 2026, down $7 million between periods, due to lower swap, syndication, and international banking revenue following strong performance in the prior quarter, as well as an expected slowdown in customer activity that is typical for the first quarter.

Non-interest Expense

Non-interest expense was $394 million for the first quarter of 2026, down $18 million from the prior quarter, due to lower merger expense. Excluding merger and restructuring expense, exit and disposal costs, reversals of prior FDIC assessment expense, and other non-operating expense, as detailed in our non-GAAP disclosures, non-interest expense was $369 million2, down $4 million from the prior quarter, due to cost savings related to the Pacific Premier acquisition. Please refer to the Q1 2026 Earnings Presentation for additional expense details.

2 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 3

Balance Sheet

Total consolidated assets were $66.0 billion as of March 31, 2026, compared to $66.8 billion as of December 31, 2025. The decrease reflects balance sheet optimization activity, which includes the reduction of excess cash. Cash and cash equivalents were $2.1 billion as of March 31, 2026, compared to $2.4 billion as of December 31, 2025. Including secured off-balance sheet lines of credit, total available liquidity was $27.1 billion as of March 31, 2026, representing 41% of total assets, 51% of total deposits, and 129% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $10.9 billion as of March 31, 2026, compared to $11.1 billion as of December 31, 2025. The decrease is due to paydowns and a decrease in the fair value of the portfolio, partially offset by the purchase of $208 million of investment securities. Please refer to the Q1 2026 Earnings Presentation for additional details related to our investment securities portfolio and liquidity position.

Gross loans and leases were $47.7 billion as of March 31, 2026, compared to $47.8 billion as of December 31, 2025. The decrease reflects continued expected runoff in below-market-rate transactional loans. Commercial loans, inclusive of owner-occupied commercial real estate, increased by 6% on an annualized basis relative to December 31, 2025, partially offsetting contraction in other portfolios. "Our teams delivered a strong quarter, continuing to generate relationship-based commercial business while successfully supporting customers through a core systems conversion," commented Chris Merrywell, President of Columbia Bank. "Loan origination volume rose 38% from the prior-year quarter, driven by increased customer activity and the addition of bankers from Pacific Premier. Payoff activity also moderated following elevated levels in the latter part of 2025." Please refer to the Q1 2026 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans.

Total deposits were $53.5 billion as of March 31, 2026, compared to $54.2 billion as of December 31, 2025. The decrease reflects an intentional reduction in brokered deposits, which declined to $1.6 billion as of March 31, 2026, compared to $2.4 billion as of December 31, 2025. A $110 million increase in customer deposits and the deployment of excess cash contributed to our reduced reliance on wholesale funding sources. "Despite seasonal deposit pressure during the first quarter, our teams' focus on generating new business and strong quarter-end inflows supported growth in customer balances," stated Mr. Merrywell. "We remain focused on deepening customer relationships and strengthening our industry-leading core deposit franchise, while continuing to reduce brokered and non-relationship public deposits." We utilized borrowings, which were $3.4 billion as of March 31, 2026, compared to $3.2 billion as of December 31, 2025, to supplement funding needs. Please refer to the Q1 2026 Earnings Presentation for additional details related to deposit characteristics and flows.

Credit Quality

The allowance for credit losses ("ACL") was $478 million, or 1.00% of loans and leases, as of March 31, 2026, compared to $485 million, or 1.02% of loans and leases, as of December 31, 2025. The provision for credit losses was $28 million for the first quarter of 2026 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.

Net charge-offs were 0.30% of average loans and leases (annualized) for the first quarter of 2026, compared to 0.25% for the fourth quarter of 2026. Net charge-offs in the FinPac portfolio were $14 million for the first quarter, unchanged from the fourth quarter. Net charge-offs excluding the FinPac portfolio were $21 million for the first quarter, compared to $16 million for the fourth quarter. Non-performing assets were $264 million, or 0.40% of total assets, as of March 31, 2026, compared to $200 million, or 0.30% of total assets, as of December 31, 2025. The increase in net charge-offs and non-performing assets between periods was driven by an agricultural industry relationship. Please refer to the Q1 2026 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends.

Capital

Columbia's book value per common share was $26.47 as of March 31, 2026, compared to $26.54 as of December 31, 2025. During the first quarter, Columbia repurchased 6.5 million common shares under its current repurchase plan at an average price of $30.74. Book value also was impacted by the change in accumulated other comprehensive (loss) income ("AOCI") to $(291) million as of March 31, 2026, compared to $(233) million as of the prior quarter-end. The change in AOCI is due primarily to an increase in the tax-effected net unrealized loss on available-for-sale securities to $260 million as of March 31, 2026, compared to $199 million as of December 31, 2025. Tangible book value per common share3 was $19.03 as of March 31, 2026, compared to $19.11 as of December 31, 2025.

3 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 4

Columbia's estimated total risk-based capital ratio was 13.3% and its estimated common equity tier 1 risk-based capital ratio was 11.5% as of March 31, 2026, compared to 13.6% and 11.8%, respectively, as of December 31, 2025. Columbia remains above current “well-capitalized” regulatory minimums. The regulatory capital ratios as of March 31, 2026 are estimates, pending completion and filing of Columbia's regulatory reports.

Earnings Presentation and Conference Call Information

Columbia's Q1 2026 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com.

Columbia will host its first quarter 2026 earnings conference call on April 23, 2026 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its first quarter 2026 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time.

Join the audiocast: https://edge.media-server.com/mmc/p/y2c5ea4c/

Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx

About Columbia Banking System, Inc.

Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 5

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) diversion of management’s attention from ongoing business operations and opportunities, (ii) cost savings and any revenue or expense synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (iii) deposit attrition, customer or employee loss, and/or revenue loss as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 6


			TABLE INDEX
						Page
			Consolidated Statements of Income			7
			Consolidated Balance Sheets			8
			Financial Highlights			9
			Loan & Lease Portfolio Balances and Mix			10
			Deposit Portfolio Balances and Mix			11
			Credit Quality - Non-performing Assets			12
			Credit Quality - Allowance for Credit Losses			13
			Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates			14
			Residential Mortgage Banking Activity			15
			GAAP to Non-GAAP Reconciliation			16

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 7


Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
	Quarter Ended										% Change
($ in millions, shares in thousands)	Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Seq. Quarter		Year over Year
Interest income:
Loans and leases	$	684	$	722	$	619	$	564	$	553	(5)	%	24	%
Interest and dividends on investments:
Taxable	103		102		89		80		69		1	%	49	%
Exempt from federal income tax	12		12		8		7		7		—	%	71	%
Dividends	3		3		4		3		3		—	%	—	%
Temporary investments and interest bearing deposits	14		19		20		16		16		(26)	%	(13)	%
Total interest income	816		858		740		670		648		(5)	%	26	%
Interest expense:
Deposits	184		195		195		180		177		(6)	%	4	%
Securities sold under agreement to repurchase and federal funds purchased	1		1		1		1		1		—	%	—	%
Borrowings	30		27		30		35		36		11	%	(17)	%
Junior and other subordinated debentures	7		8		9		8		9		(13)	%	(22)	%
Total interest expense	222		231		235		224		223		(4)	%	—	%
Net interest income	594		627		505		446		425		(5)	%	40	%
Provision for credit losses	28		23		70		30		27		22	%	4	%
Non-interest income:
Service charges on deposits	20		24		21		20		19		(17)	%	5	%
Card-based fees	15		16		15		14		13		(6)	%	15	%
Financial services and trust revenue	15		15		9		6		5		—	%	200	%
Residential mortgage banking revenue, net	12		7		7		8		9		71	%	33	%
Gain on investment securities, net	—		2		2		—		2		(100)	%	(100)	%
Gain on loan and lease sales, net	1		1		—		—		—		—	%	nm
(Loss) gain on loans held for investment, at fair value	(2)		—		4		—		7		nm		(129)	%
BOLI income	9		9		6		5		5		—	%	80	%
Other income	13		16		13		12		6		(19)	%	117	%
Total non-interest income	83		90		77		65		66		(8)	%	26	%
Non-interest expense:
Salaries and employee benefits	196		201		171		155		145		(2)	%	35	%
Occupancy and equipment, net	66		67		54		47		48		(1)	%	38	%
FDIC assessments	9		4		8		8		8		125	%	13	%
Intangible amortization	41		42		31		26		28		(2)	%	46	%
Merger and restructuring expense	24		39		87		8		14		(38)	%	71	%
Legal settlement	—		—		—		—		55		nm		(100)	%
Other expenses	58		59		42		34		42		(2)	%	38	%
Total non-interest expense	394		412		393		278		340		(4)	%	16	%
Income before provision for income taxes	255		282		119		203		124		(10)	%	106	%
Provision for income taxes	63		67		23		51		37		(6)	%	70	%
Net income	$	192	$	215	$	96	$	152	$	87	(11)	%	121	%

Weighted average basic shares outstanding (in thousands)	290,933		295,376		237,838		209,125		208,800		(2)	%	39	%
Weighted average diluted shares outstanding (in thousands)	292,160		296,760		238,925		209,975		210,023		(2)	%	39	%
Earnings per common share – basic	$	0.66	$	0.72	$	0.40	$	0.73	$	0.41	(8)	%	61	%
Earnings per common share – diluted	$	0.66	$	0.72	$	0.40	$	0.73	$	0.41	(8)	%	61	%

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 8


Columbia Banking System, Inc.
Consolidated Balance Sheets
(Unaudited)
											% Change
($ in millions, shares in thousands)	Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Seq. Quarter		Year over Year
Assets:
Cash and due from banks	$	577	$	511	$	535	$	608	$	591	13	%	(2)	%
Interest-bearing cash and temporary investments	1,522		1,869		1,808		1,334		1,481		(19)	%	3	%
Investment securities:
Equity and other, at fair value	124		113		112		93		92		10	%	35	%
Available for sale, at fair value	10,915		11,112		11,013		8,653		8,229		(2)	%	33	%
Held to maturity, at amortized cost	18		18		18		2		2		—	%	nm
Loans held for sale	81		262		340		66		65		(69)	%	25	%
Loans and leases	47,697		47,776		48,462		37,637		37,616		—	%	27	%
Allowance for credit losses on loans and leases	(459)		(466)		(473)		(421)		(421)		(2)	%	9	%
Net loans and leases	47,238		47,310		47,989		37,216		37,195		—	%	27	%
Restricted equity securities	168		159		119		161		125		6	%	34	%
Premises and equipment, net	426		422		416		357		345		1	%	23	%

Goodwill	1,482		1,482		1,481		1,029		1,029		—	%	44	%
Other intangible assets, net	671		712		754		430		456		(6)	%	47	%

Bank-owned life insurance	1,222		1,218		1,199		705		701		—	%	74	%

Other assets	1,583		1,644		1,712		1,247		1,208		(4)	%	31	%
Total assets	$	66,027	$	66,832	$	67,496	$	51,901	$	51,519	(1)	%	28	%
Liabilities:
Deposits
Non-interest-bearing	$	17,635	$	17,419	$	17,810	$	13,220	$	13,414	1	%	31	%
Interest-bearing	35,854		36,792		37,961		28,523		28,804		(3)	%	24	%
Total deposits	53,489		54,211		55,771		41,743		42,218		(1)	%	27	%
Securities sold under agreements to repurchase	162		207		167		191		192		(22)	%	(16)	%
Borrowings	3,400		3,200		2,300		3,350		2,550		6	%	33	%
Junior subordinated debentures, at fair value	333		338		331		323		321		(1)	%	4	%
Junior and other subordinated debentures, at amortized cost	97		97		107		108		108		—	%	(10)	%


Other liabilities	882		939		1,030		844		892		(6)	%	(1)	%
Total liabilities	58,363		58,992		59,706		46,559		46,281		(1)	%	26	%
Shareholders' equity:

Common stock	7,896		8,099		8,189		5,826		5,823		(3)	%	36	%
Retained earnings (accumulated deficit)	59		(26)		(131)		(151)		(227)		nm		nm
Accumulated other comprehensive loss	(291)		(233)		(268)		(333)		(358)		25	%	(19)	%
Total shareholders' equity	7,664		7,840		7,790		5,342		5,238		(2)	%	46	%
Total liabilities and shareholders' equity	$	66,027	$	66,832	$	67,496	$	51,901	$	51,519	(1)	%	28	%

Common shares outstanding at period end (in thousands)	289,530		295,422		299,147		210,213		210,112		(2)	%	38	%

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 9


Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
	Quarter Ended															% Change
	Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Per Common Share Data:
Dividends	$	0.37		$	0.37		$	0.36		$	0.36		$	0.36		—	%	3	%
Book value	$	26.47		$	26.54		$	26.04		$	25.41		$	24.93		—	%	6	%
Tangible book value (1)	$	19.03		$	19.11		$	18.57		$	18.47		$	17.86		—	%	7	%

Performance Ratios:
Efficiency ratio (2)	58.03		%	57.30		%	67.29		%	54.29		%	69.06		%	0.73		(11.03)
Non-interest expense to average assets (1)	2.41		%	2.44		%	2.74		%	2.16		%	2.68		%	(0.03)		(0.27)
Return on average assets ("ROAA")	1.18		%	1.27		%	0.67		%	1.19		%	0.68		%	(0.09)		0.50
Pre-provision net revenue ("PPNR") ROAA (1)	1.73		%	1.80		%	1.32		%	1.81		%	1.19		%	(0.07)		0.54
Return on average common equity	10.00		%	10.92		%	6.19		%	11.56		%	6.73		%	(0.92)		3.27
Return on average tangible common equity (1)	13.88		%	15.24		%	8.58		%	16.03		%	9.45		%	(1.36)		4.43

Performance Ratios - Operating: (1)
Operating efficiency ratio, as adjusted (1), (2)	53.68		%	51.39		%	52.32		%	51.79		%	55.11		%	2.29		(1.43)
Operating non-interest expense to average assets (1)	2.26		%	2.20		%	2.14		%	2.10		%	2.13		%	0.06		0.13
Operating ROAA (1)	1.28		%	1.44		%	1.42		%	1.25		%	1.10		%	(0.16)		0.18
Operating PPNR ROAA (1)	1.87		%	2.02		%	1.89		%	1.88		%	1.67		%	(0.15)		0.20
Operating return on average common equity (1)	10.89		%	12.34		%	13.15		%	12.16		%	10.87		%	(1.45)		0.02
Operating return on average tangible common equity (1)	15.11		%	17.22		%	18.24		%	16.85		%	15.26		%	(2.11)		(0.15)

Average Balance Sheet Yields, Rates, & Ratios:
Yield on loans and leases	5.78		%	5.92		%	5.96		%	6.00		%	5.92		%	(0.14)		(0.14)
Yield on earning assets (2)	5.44		%	5.55		%	5.62		%	5.62		%	5.49		%	(0.11)		(0.05)
Cost of interest bearing deposits	2.04		%	2.08		%	2.43		%	2.52		%	2.52		%	(0.04)		(0.48)
Cost of interest bearing liabilities	2.24		%	2.27		%	2.65		%	2.78		%	2.80		%	(0.03)		(0.56)
Cost of total deposits	1.39		%	1.40		%	1.66		%	1.73		%	1.72		%	(0.01)		(0.33)
Cost of total funding (3)	1.56		%	1.57		%	1.87		%	1.98		%	1.99		%	(0.01)		(0.43)
Net interest margin (2)	3.96		%	4.06		%	3.84		%	3.75		%	3.60		%	(0.10)		0.36
Average interest bearing cash / Average interest earning assets	2.59		%	3.12		%	3.41		%	2.97		%	3.13		%	(0.53)		(0.54)
Average loans and leases / Average interest earning assets	78.44		%	78.12		%	78.39		%	78.64		%	78.93		%	0.32		(0.49)
Average loans and leases / Average total deposits	88.58		%	87.34		%	88.39		%	90.07		%	90.36		%	1.24		(1.78)
Average non-interest bearing deposits / Average total deposits	32.26		%	32.45		%	31.41		%	31.39		%	31.75		%	(0.19)		0.51
Average total deposits / Average total funding (3)	93.58		%	94.52		%	93.47		%	91.92		%	91.86		%	(0.94)		1.72

Select Credit & Capital Ratios:
Non-performing loans and leases to total loans and leases	0.55		%	0.41		%	0.40		%	0.47		%	0.47		%	0.14		0.08
Non-performing assets to total assets	0.40		%	0.30		%	0.29		%	0.35		%	0.35		%	0.10		0.05
Allowance for credit losses to loans and leases	1.00		%	1.02		%	1.01		%	1.17		%	1.17		%	(0.02)		(0.17)
Total risk-based capital ratio (4)	13.3		%	13.6		%	13.4		%	13.0		%	12.9		%	(0.30)		0.40
Common equity tier 1 risk-based capital ratio (4)	11.5		%	11.8		%	11.6		%	10.8		%	10.6		%	(0.30)		0.90

(1) See GAAP to Non-GAAP Reconciliation.

(2) Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.

(3) Total funding = total deposits + total borrowings.

(4) Estimated holding company ratios.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 10


Columbia Banking System, Inc.
Loan & Lease Portfolio Balances and Mix
(Unaudited)
	Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			% Change
($ in millions)	Amount			Amount			Amount			Amount			Amount			Seq. Quarter		Year over Year
Loans and leases:
Commercial real estate:
Non-owner occupied term	$	8,113		$	8,206		$	8,444		$	6,190		$	6,179		(1)	%	31	%
Owner occupied term	7,258			7,314			7,361			5,320			5,303			(1)	%	37	%
Multifamily	10,173			10,281			10,377			5,735			5,831			(1)	%	74	%
Construction & development	1,670			1,707			2,071			2,070			2,071			(2)	%	(19)	%
Residential development	373			362			367			286			252			3	%	48	%
Commercial:
Term	6,887			6,713			6,590			5,353			5,490			3	%	25	%
Lines of credit & other	3,804			3,643			3,582			2,951			2,754			4	%	38	%
Leases & equipment finance	1,619			1,599			1,614			1,641			1,644			1	%	(2)	%
Residential:
Mortgage	5,483			5,624			5,722			5,830			5,878			(3)	%	(7)	%
Home equity loans & lines	2,147			2,149			2,153			2,083			2,039			—	%	5	%
Consumer & other	170			178			181			178			175			(4)	%	(3)	%
Total loans and leases, net of deferred fees and costs	$	47,697		$	47,776		$	48,462		$	37,637		$	37,616		—	%	27	%

Loans and leases mix:
Commercial real estate:
Non-owner occupied term	17		%	17		%	18		%	16		%	16		%
Owner occupied term	15		%	15		%	15		%	14		%	14		%
Multifamily	21		%	22		%	21		%	15		%	15		%
Construction & development	4		%	4		%	4		%	6		%	6		%
Residential development	1		%	1		%	1		%	1		%	1		%
Commercial:
Term	15		%	14		%	14		%	14		%	15		%
Lines of credit & other	8		%	8		%	7		%	8		%	7		%
Leases & equipment finance	3		%	3		%	3		%	4		%	4		%
Residential:
Mortgage	11		%	12		%	12		%	15		%	16		%
Home equity loans & lines	5		%	4		%	4		%	6		%	5		%
Consumer & other	—		%	—		%	1		%	1		%	1		%
Total	100		%	100		%	100		%	100		%	100		%

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 11


Columbia Banking System, Inc.
Deposit Portfolio Balances and Mix
(Unaudited)
	Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			% Change
($ in millions)	Amount			Amount			Amount			Amount			Amount			Seq. Quarter		Year over Year
Deposits:
Demand, non-interest bearing	$	17,635		$	17,419		$	17,810		$	13,220		$	13,414		1	%	31	%
Demand, interest bearing	10,860			10,763			11,675			8,335			8,494			1	%	28	%
Money market	16,843			17,013			16,816			11,694			11,971			(1)	%	41	%
Savings	2,437			2,442			2,504			2,276			2,337			0	%	4	%
Time	5,714			6,574			6,966			6,218			6,002			(13)	%	(5)	%
Total	$	53,489		$	54,211		$	55,771		$	41,743		$	42,218		(1)	%	27	%

Total core deposits (1)	$	50,245		$	50,174		$	51,535		$	37,294		$	38,079		—	%	32	%

Deposit mix:
Demand, non-interest bearing	33		%	32		%	32		%	32		%	32		%
Demand, interest bearing	20		%	20		%	21		%	20		%	20		%
Money market	31		%	31		%	30		%	28		%	28		%
Savings	5		%	5		%	5		%	5		%	6		%
Time	11		%	12		%	12		%	15		%	14		%
Total	100		%	100		%	100		%	100		%	100		%

(1) Core deposits are defined as total deposits less time deposits greater than $250,000 and all brokered deposits.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 12


Columbia Banking System, Inc.
Credit Quality – Non-performing Assets
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Non-performing assets: (1)
Loans and leases on non-accrual status:
	Commercial real estate	$	91		$	50		$	53		$	31		$	42		82	%	117	%
	Commercial	96			66			67			67			80			45	%	20	%


	Total loans and leases on non-accrual status	187			116			120			98			122			61	%	53	%
Loans and leases past due 90+ days and accruing: (2)
	Commercial real estate	3			2			—			—			—			50	%	nm
	Commercial	2			8			5			5			—			(75)	%	nm
	Residential (2)	69			72			71			74			53			(4)	%	30	%

	Total loans and leases past due 90+ days and accruing (2)	74			82			76			79			53			(10)	%	40	%
Total non-performing loans and leases (1), (2)		261			198			196			177			175			32	%	49	%
Other real estate owned		3			2			3			3			3			50	%	0	%
Total non-performing assets (1), (2)		$	264		$	200		$	199		$	180		$	178		32	%	48	%


Loans and leases past due 31-89 days		$	168		$	94		$	85		$	142		$	158		79	%	6	%
Loans and leases past due 31-89 days to total loans and leases		0.35		%	0.20		%	0.18		%	0.38		%	0.42		%	0.15		(0.07)
Non-performing loans and leases to total loans and leases (1), (2)		0.55		%	0.41		%	0.40		%	0.47		%	0.47		%	0.14		0.08
Non-performing assets to total assets (1), (2)		0.40		%	0.30		%	0.29		%	0.35		%	0.35		%	0.10		0.05
Non-accrual loans and leases to total loan and leases (2)		0.39		%	0.24		%	0.25		%	0.26		%	0.33		%	0.15		0.06

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

(1) Non-accrual and 90+ days past due loans include government guarantees of $88 million, $79 million, $70 million, $68 million, and $67 million at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

(2) Excludes certain mortgage loans guaranteed by GNMA, which Columbia has the unilateral right to repurchase but has not done so, totaling $4 million, $3 million, $2 million, $2 million, and $3 million at March 31, 2026, December 31, 2025, September 30, 2025, June 30, 2025, and March 31, 2025, respectively.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 13


Columbia Banking System, Inc.
Credit Quality – Allowance for Credit Losses
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Allowance for credit losses on loans and leases (ACLLL)
Balance, beginning of period		$	466		$	473		$	421		$	421		$	425		(1)	%	10	%
Initial ACL recorded for PCD loans acquired during the period		—			—			5			—			—			nm		nm
Provision for credit losses on loans and leases		28			23			69			29			26			22	%	8	%
Charge-offs
	Commercial real estate	—			(8)			(3)			—			—			nm		nm
	Commercial	(39)			(23)			(22)			(33)			(33)			70	%	18	%
	Residential	—			(1)			—			—			(1)			nm		nm
	Consumer & other	(1)			(1)			(2)			(1)			(1)			0	%	0	%
	Total charge-offs	(40)			(33)			(27)			(34)			(35)			21	%	14	%
Recoveries

	Commercial	4			3			4			5			4			33	%	0	%

	Consumer & other	1			—			1			—			1			nm		0	%
	Total recoveries	5			3			5			5			5			67	%	0	%
Net (charge-offs) recoveries
	Commercial real estate	—			(8)			(3)			—			—			nm		nm
	Commercial	(35)			(20)			(18)			(28)			(29)			75	%	21	%
	Residential	—			(1)			—			—			(1)			nm		nm
	Consumer & other	—			(1)			(1)			(1)			—			nm		nm
	Total net charge-offs	(35)			(30)			(22)			(29)			(30)			17	%	17	%
Balance, end of period		$	459		$	466		$	473		$	421		$	421		(2)	%	9	%
Reserve for unfunded commitments
Balance, beginning of period		$	19		$	19		$	18		$	17		$	16		0	%	19	%
Provision for credit losses on unfunded commitments		—			—			1			1			1			nm		(100)	%
Balance, end of period		19			19			19			18			17			0	%	12	%
Total Allowance for credit losses (ACL)		$	478		$	485		$	492		$	439		$	438		(1)	%	9	%

Net charge-offs to average loans and leases (annualized)		0.30		%	0.25		%	0.22		%	0.31		%	0.32		%	0.05		(0.02)
Recoveries to gross charge-offs		12.50		%	9.09		%	18.52		%	15.19		%	14.05		%	3.41		(1.55)
ACLLL to loans and leases		0.96		%	0.98		%	0.98		%	1.12		%	1.12		%	(0.02)		(0.16)
ACL to loans and leases		1.00		%	1.02		%	1.01		%	1.17		%	1.17		%	(0.02)		(0.17)

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 14


Columbia Banking System, Inc.
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates
(Unaudited)
	Quarter Ended
	March 31, 2026						December 31, 2025						March 31, 2025
($ in millions)	Average Balance		Interest Income or Expense		Average Yields or Rates		Average Balance		Interest Income or Expense		Average Yields or Rates		Average Balance		Interest Income or Expense		Average Yields or Rates
INTEREST-EARNING ASSETS:
Loans held for sale	$	189	$	3	5.17	%	$	306	$	5	5.51	%	$	59	$	1	6.32	%
Loans and leases (1)	47,714		681		5.78	%	48,186		717		5.92	%	37,679		552		5.92	%
Taxable securities	10,097		106		4.22	%	9,996		105		4.23	%	7,691		72		3.72	%
Non-taxable securities (2)	1,253		14		4.51	%	1,268		14		4.53	%	817		8		3.87	%
Temporary investments and interest-bearing cash	1,578		14		3.65	%	1,923		19		3.82	%	1,494		16		4.45	%
Total interest-earning assets (1), (2)	60,831		$	818	5.44	%	61,679		$	860	5.55	%	47,740		$	649	5.49	%
Goodwill and other intangible assets	2,175						2,217						1,502
Other assets	3,209						3,218						2,211
Total assets	$	66,215					$	67,114					$	51,453
INTEREST-BEARING LIABILITIES:
Interest-bearing demand deposits	$	10,780	$	43	1.60	%	$	11,052	$	51	1.81	%	$	8,371	$	46	2.26	%
Money market deposits	16,848		88		2.12	%	17,010		94		2.22	%	11,603		69		2.40	%
Savings deposits	2,443		1		0.12	%	2,463		1		0.12	%	2,350		1		0.10	%
Time deposits (3)	6,414		52		3.32	%	6,741		49		2.88	%	6,136		61		4.01	%
Total interest-bearing deposits	36,485		184		2.04	%	37,266		195		2.08	%	28,460		177		2.52	%
Repurchase agreements and federal funds purchased	187		1		1.86	%	184		1		2.16	%	216		1		1.83	%
Borrowings	3,071		30		3.96	%	2,581		27		4.20	%	3,039		36		4.82	%
Junior and other subordinated debentures	435		7		7.03	%	436		8		7.53	%	438		9		7.94	%
Total interest-bearing liabilities	40,178		$	222	2.24	%	40,467		$	231	2.27	%	32,153		$	223	2.80	%
Non-interest-bearing deposits	17,378						17,902						13,239
Other liabilities	873						931						844
Total liabilities	58,429						59,300						46,236
Common equity	7,786						7,814						5,217
Total liabilities and shareholders' equity	$	66,215					$	67,114					$	51,453
NET INTEREST INCOME (2)			$	596					$	629					$	426
NET INTEREST SPREAD (2)					3.20	%					3.28	%					2.69	%
NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN (1), (2)					3.96	%					4.06	%					3.60	%

(1)Non-accrual loans and leases are included in the average balance.

(2)Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $2 million for the three months ended March 31, 2026, as compared to $2 million for the three months ended December 31, 2025 and $1 million for the three months ended March 31, 2025.

(3)Includes the amortization of a premium on acquired time deposits that reduced interest expense by $12 million for the three months ended December 31, 2025. There was no amortization for the three months ended March 31, 2026 or March 31, 2025.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 15


Columbia Banking System, Inc.
Residential Mortgage Banking Activity
(Unaudited)
	Quarter Ended															%
($ in millions)	Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Residential mortgage banking revenue:
Origination and sale	$	5		$	5		$	5		$	5		$	4		—	%	25	%
Servicing	6			6			5			6			6			—	%	—	%
Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time	(3)			(3)			(3)			(3)			(3)			—	%	—	%
Changes due to valuation inputs or assumptions	6			(1)			—			(2)			(1)			nm		nm
MSR hedge (loss) gain	(2)			—			—			2			3			nm		(167)	%
Total	$	12		$	7		$	7		$	8		$	9		71	%	33	%

Closed loan volume for sale	$	171		$	176		$	166		$	164		$	136		(3)	%	26	%
Gain on sale margin	2.92		%	2.84		%	3.01		%	2.77		%	3.23		%	0.08		-0.31

Residential mortgage servicing rights:
Balance, beginning of period	$	99		$	101		$	103		$	106		$	108		(2)	%	(8)	%
Additions for new MSR capitalized	3			2			1			2			2			50	%	50	%

Change in fair value of MSR asset:
Changes due to collection/realization of expected cash flows over time	(3)			(3)			(3)			(3)			(3)			—	%	—	%
Changes due to valuation inputs or assumptions	6			(1)			—			(2)			(1)			nm		nm
Balance, end of period	$	105		$	99		$	101		$	103		$	106		6	%	(1)	%

Residential mortgage loans serviced for others	$	7,812		$	7,755		$	7,797		$	7,852		$	7,888		1	%	(1)	%
MSR as % of serviced portfolio	1.34		%	1.28		%	1.30		%	1.31		%	1.34		%	0.06		—

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 16

Non-GAAP Financial Measures

In addition to results presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names.


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation
Tangible Capital, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions, except per-share data)		Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Total shareholders' equity	a	$	7,664		$	7,840		$	7,790		$	5,342		$	5,238		(2)	%	46	%
Less: Goodwill		1,482			1,482			1,481			1,029			1,029			—	%	44	%
Less: Other intangible assets, net		671			712			754			430			456			(6)	%	47	%
Tangible common shareholders' equity	b	$	5,511		$	5,646		$	5,555		$	3,883		$	3,753		(2)	%	47	%

Total assets	c	$	66,027		$	66,832		$	67,496		$	51,901		$	51,519		(1)	%	28	%
Less: Goodwill		1,482			1,482			1,481			1,029			1,029			—	%	44	%
Less: Other intangible assets, net		671			712			754			430			456			(6)	%	47	%
Tangible assets	d	$	63,874		$	64,638		$	65,261		$	50,442		$	50,034		(1)	%	28	%
Common shares outstanding at period end (in thousands)	e	289,530			295,422			299,147			210,213			210,112			(2)	%	38	%

Total shareholders' equity to total assets ratio	a / c	11.61		%	11.73		%	11.54		%	10.29		%	10.17		%	(0.12)		1.44
Tangible common equity to tangible assets ratio	b / d	8.63		%	8.73		%	8.51		%	7.70		%	7.50		%	(0.10)		1.13
Book value per common share	a / e	$	26.47		$	26.54		$	26.04		$	25.41		$	24.93		—	%	6	%
Tangible book value per common share	b / e	$	19.03		$	19.11		$	18.57		$	18.47		$	17.86		—	%	7	%

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 17


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Income Statements, as adjusted
(Unaudited)
		Quarter Ended										% Change
($ in millions)		Mar 31, 2026		Dec 31, 2025		Sep 30, 2025		Jun 30, 2025		Mar 31, 2025		Seq. Quarter		Year over Year
Non-Interest Income Adjustments
Gain on investment securities, net		$	—	$	2	$	2	$	—	$	2	(100)	%	(100)	%
Gain (loss) on swap derivatives		—		1		(1)		(1)		(1)		(100)	%	nm
(Loss) gain on loans held for investment, at fair value		(2)		—		4		—		7		nm		(129)	%
Change in fair value of MSR due to valuation inputs or assumptions		6		(1)		—		(2)		(1)		nm		nm
MSR hedge (loss) gain		(2)		—		—		2		3		nm		(167)	%
Total non-interest income adjustments	a	$	2	$	2	$	5	$	(1)	$	10	—	%	(80)	%

Non-Interest Expense Adjustments
Merger and restructuring expense		$	24	$	39	$	87	$	8	$	14	(38)	%	71	%
Exit and disposal costs		1		1		—		—		1		0	%	—	%
FDIC special assessment		—		(5)		(1)		—		—		nm		nm
Legal settlement and other non-operating expense		—		4		—		—		55		(100)	%	(100)	%
Total non-interest expense adjustments	b	$	25	$	39	$	86	$	8	$	70	(36)	%	(64)	%

Net interest income	c	$	594	$	627	$	505	$	446	$	425	(5)	%	40	%

Non-interest income (GAAP)	d	$	83	$	90	$	77	$	65	$	66	(8)	%	26	%
Less: Non-interest income adjustments	a	(2)		(2)		(5)		1		(10)		—	%	(80)	%
Operating non-interest income (non-GAAP)	e	$	81	$	88	$	72	$	66	$	56	(8)	%	45	%

Revenue (GAAP)	f=c+d	$	677	$	717	$	582	$	511	$	491	(6)	%	38	%
Operating revenue (non-GAAP)	g=c+e	$	675	$	715	$	577	$	512	$	481	(6)	%	40	%

Non-interest expense (GAAP)	h	$	394	$	412	$	393	$	278	$	340	(4)	%	16	%
Less: Non-interest expense adjustments	b	(25)		(39)		(86)		(8)		(70)		(36)	%	(64)	%
Operating non-interest expense (non-GAAP)	i	$	369	$	373	$	307	$	270	$	270	(1)	%	37	%

Net income (GAAP)	j	$	192	$	215	$	96	$	152	$	87	(11)	%	121	%
Provision for income taxes		63		67		23		51		37		(6)	%	70	%
Income before provision for income taxes		255		282		119		203		124		(10)	%	106	%
Provision for credit losses		28		23		70		30		27		22	%	4	%
Pre-provision net revenue (PPNR) (non-GAAP)	k	283		305		189		233		151		(7)	%	87	%
Less: Non-interest income adjustments	a	(2)		(2)		(5)		1		(10)		—	%	(80)	%
Add: Non-interest expense adjustments	b	25		39		86		8		70		(36)	%	(64)	%
Operating PPNR (non-GAAP)	l	$	306	$	342	$	270	$	242	$	211	(11)	%	45	%

Net income (GAAP)	j	$	192	$	215	$	96	$	152	$	87	(11)	%	121	%
Acquisition-related provision expense		—		—		70		—		—		nm		nm
Less: Non-interest income adjustments	a	(2)		(2)		(5)		1		(10)		—	%	(80)	%
Add: Non-interest expense adjustments	b	25		39		86		8		70		(36)	%	(64)	%
Tax effect of adjustments		(6)		(9)		(43)		(1)		(8)		(33)	%	(25)	%
Operating net income (non-GAAP)	m	$	209	$	243	$	204	$	160	$	139	(14)	%	50	%

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 18


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Average Balances, Earnings Per Share, and Performance Metrics, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions, shares in thousands)		Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Average assets	n	$	66,215		$	67,114		$	56,823		$	51,552		$	51,453		(1)	%	29	%
Less: Average goodwill and other intangible assets, net		2,175			2,217			1,719			1,472			1,502			(2)	%	45	%
Average tangible assets	o	$	64,040		$	64,897		$	55,104		$	50,080		$	49,951		(1)	%	28	%

Average common shareholders' equity	p	$	7,786		$	7,814		$	6,157		$	5,287		$	5,217		0	%	49	%
Less: Average goodwill and other intangible assets, net		2,175			2,217			1,719			1,472			1,502			(2)	%	45	%
Average tangible common equity	q	$	5,611		$	5,597		$	4,438		$	3,815		$	3,715		0	%	51	%

Weighted average basic shares outstanding (in thousands)	r	290,933			295,376			237,838			209,125			208,800			(2)	%	39	%
Weighted average diluted shares outstanding (in thousands)	s	292,160			296,760			238,925			209,975			210,023			(2)	%	39	%

Select Per-Share & Performance Metrics
Earnings per share - basic	j / r	$	0.66		$	0.72		$	0.40		$	0.73		$	0.41		(8)	%	61	%
Earnings per share - diluted	j / s	$	0.66		$	0.72		$	0.40		$	0.73		$	0.41		(8)	%	61	%
Efficiency ratio (1)	h / f	58.03		%	57.30		%	67.29		%	54.29		%	69.06		%	0.73		(11.03)
Non-interest expense to average assets	h / n	2.41		%	2.44		%	2.74		%	2.16		%	2.68		%	(0.03)		(0.27)
Return on average assets	j / n	1.18		%	1.27		%	0.67		%	1.19		%	0.68		%	(0.09)		0.50
Return on average tangible assets	j / o	1.22		%	1.31		%	0.69		%	1.22		%	0.70		%	(0.09)		0.52
PPNR return on average assets	k / n	1.73		%	1.80		%	1.32		%	1.81		%	1.19		%	(0.07)		0.54
Return on average common equity	j / p	10.00		%	10.92		%	6.19		%	11.56		%	6.73		%	(0.92)		3.27
Return on average tangible common equity	j / q	13.88		%	15.24		%	8.58		%	16.03		%	9.45		%	(1.36)		4.43

Operating Per-Share & Performance Metrics
Operating earnings per share - basic	m / r	$	0.72		$	0.82		$	0.86		$	0.77		$	0.67		(12)	%	7	%
Operating earnings per share - diluted	m / s	$	0.72		$	0.82		$	0.85		$	0.76		$	0.67		(12)	%	7	%
Operating efficiency ratio, as adjusted (1)	u / y	53.68		%	51.39		%	52.32		%	51.79		%	55.11		%	2.29		(1.43)
Operating non-interest expense to average assets	i / n	2.26		%	2.20		%	2.14		%	2.10		%	2.13		%	0.06		0.13
Operating return on average assets	m / n	1.28		%	1.44		%	1.42		%	1.25		%	1.10		%	(0.16)		0.18
Operating return on average tangible assets	m / o	1.32		%	1.49		%	1.47		%	1.28		%	1.13		%	(0.17)		0.19
Operating PPNR return on average assets	l / n	1.87		%	2.02		%	1.89		%	1.88		%	1.67		%	(0.15)		0.20
Operating return on average common equity	m / p	10.89		%	12.34		%	13.15		%	12.16		%	10.87		%	(1.45)		0.02
Operating return on average tangible common equity	m / q	15.11		%	17.22		%	18.24		%	16.85		%	15.26		%	(2.11)		(0.15)

(1) Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

Columbia Banking System, Inc. Reports First Quarter 2026 Results

April 23, 2026

Page 19


Columbia Banking System, Inc.
GAAP to Non-GAAP Reconciliation - Continued
Operating Efficiency Ratio, as adjusted
(Unaudited)
		Quarter Ended															% Change
($ in millions)		Mar 31, 2026			Dec 31, 2025			Sep 30, 2025			Jun 30, 2025			Mar 31, 2025			Seq. Quarter		Year over Year
Non-interest expense (GAAP)	h	$	394		$	412		$	393		$	278		$	340		(4)	%	16	%
Less: Non-interest expense adjustments	b	(25)			(39)			(86)			(8)			(70)			(36)	%	(64)	%
Operating non-interest expense (non-GAAP)	i	369			373			307			270			270			(1)	%	37	%
Less: B&O taxes	t	(4)			(3)			(3)			(3)			(3)			33	%	33	%
Operating non-interest expense, excluding B&O taxes (non-GAAP)	u	$	365		$	370		$	304		$	267		$	267		(1)	%	37	%

Net interest income (tax equivalent) (1)	v	$	596		$	629		$	507		$	447		$	426		(5)	%	40	%
Non-interest income (GAAP)	d	83			90			77			65			66			(8)	%	26	%
Add: BOLI tax equivalent adjustment (1)	w	3			3			2			2			1			—	%	200	%
Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent)	x	682			722			586			514			493			(6)	%	38	%
Less: Non-interest income adjustments	a	(2)			(2)			(5)			1			(10)			—	%	(80)	%
Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)	y	$	680		$	720		$	581		$	515		$	483		(6)	%	41	%

Efficiency ratio (1)	h / f	58.03		%	57.30		%	67.29		%	54.29		%	69.06		%	0.73		(11.03)
Operating efficiency ratio, as adjusted (non-GAAP) (1)	u / y	53.68		%	51.39		%	52.32		%	51.79		%	55.11		%	2.29		(1.43)

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

(1) Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

1st Quarter 2026 Earnings Presentation April 23, 2026

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 Columbia Banking System, Inc. (“Columbia”) the plans, objectives, expectations and intentions of Columbia and other statements that are not historical facts. Such statements are subject to numerous assumptions, risks, and uncertainties. All statements other than statements of historical fact, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “believe,” “intend,” “estimate,” “plan,” “believe,” “target,” “goal,” or similar expressions, or future or conditional verbs such as “will,” “may,” “might,” “should,” “would,” “could,” or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. In this presentation we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) diversion of management’s attention from ongoing business operations and opportunities, (ii) cost savings and any revenue or expense synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (iii) deposit attrition, customer or employee loss, and/or revenue loss as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors. NON-GAAP FINANCIAL MEASURES In addition to results presented in accordance with GAAP, this presentation contains certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the Appendix. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies’ non-GAAP financial measures having the same or similar names. 2

Table of Contents 3 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

West-Focused Regional Powerhouse 4 Completed Western Footprint(3) Why Columbia? ■ Business Bank of Choice strategy cultivates a granular, low-cost core deposit base ■ Compelling culture and Community Banking at Scale business model foster deep community ties while also attracting and retaining top banking talent ■ Scaled western franchise is difficult to replicate and provides scarcity value ■ Opportunity to organically gain share in California and growing metros in the West while increasing density in the Northwest ■ Strong credit quality is supported by a diversified, well-structured, and conservatively underwritten loan portfolio ■ Solid capital generation supports long-term organic growth and return to shareholders Columbia at a Glance C or po ra te Ticker COLB Market Capitalization(1) $8.4 billion Dividend Yield(1) 5.1% Fi na nc ia ls a s of M ar ch 3 1, 2 02 6 Assets $66.0 billion Loans $47.7 billion Deposits $53.5 billion Common Equity Tier 1 Capital Ratio(2) 11.5% Total Capital Ratio(2) 13.3% (1) Market data as of April 22, 2026. (2) Regulatory capital ratios are estimates pending completion and filing of Columbia’s regulatory reports. (3) Columbia is headquartered in Tacoma, Washington and operates nearly 350 branches throughout the Western United States, as well as a Homeowners Association (“HOA”) office in Texas (not pictured).

Operating in Large, Attractive Western Markets 5 Established Presence throughout the West(1) Northwest (population in millions) Seattle, WA Portland, OR California and Nevada Los Angeles, CA Sacramento, CA Other West Phoenix, AZ Denver, CO 4.2mm 2.5mm 12.9mm 2.5mm 5.3mm 3.0mm Top Regional Bank in Northwest (WA, OR, ID)(1) Total Northwest Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr 1 Bank of America (NC) $3,412 $58 16.5 % 2 U.S. Bancorp (MN) 692 51 14.4 % 3 JPMorgan (NY) 4,425 44 12.4 % 4 Wells Fargo (CA) 2,149 40 11.3 % 5 COLB (WA) 67 35 9.8 % 6 KeyCorp (OH) 184 19 5.3 % 7 WaFd (WA) 27 13 3.6 % 8 Banner Corp. (WA) 16 11 3.1 % 4th Largest Regional Bank HQ’d in Footprint(1) Total Eight-State Footprint Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr 1 Western Alliance (AZ) $93 $70 1.9 % 2 Zions (UT) 89 59 1.6 % 3 East West (CA) 80 51 1.4 % 4 COLB (WA) 67 56 1.5 % 5 Banc of California (CA) 35 22 0.6 % 6 WaFd (WA) 27 19 0.5 % 7 Cathay General (CA) 24 16 0.4 % 8 Mechanics (CA) 22 19 0.5 % Strong Foothold in Attractive Markets(1) ■ Our market share in the Northwest stands with large national and super regional banks, at nearly 10% ■ Our foothold in top western markets and scaled franchise provide us the opportunity to increase share in California, Arizona, Colorado, and Utah ■ Densely populated metropolitan areas provide opportunity for our bankers to take market share as we grow where businesses are growing ■ Current household income in our footprint is 110% of the national average, and the five-year growth rate of 13.0% compares favorably to 11.3% nationally Boise, ID Salt Lake City, UT Las Vegas, NV 0.9mm 2.4mm 1.3mm (1) Population, household income, and asset data sourced from S&P Global Market Intelligence. Total assets as of December 31, 2025 and adjusted to a pro forma basis for recently closed acquisitions, if applicable. Deposits and market share data sourced from the Federal Deposit Insurance Corporation (“FDIC”) as of June 30, 2025 and adjusted to a pro forma basis. Groups represent banks headquartered in the United States, and money center banks are excluded from the footprint analysis (bottom table).

Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Seattle 4,201 $140,795 $7,662 5.4 % Portland 2,547 65,434 5,513 8.4 % Boise 868 17,945 224 1.3 % Spokane 608 14,405 4,045 28.1 % Opportunity to Increase Density and Gain Share throughout Our Footprint 6 Improve Competitive Position in California Broaden Presence in Other Western MarketsEnhance Density in the Northwest Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Phoenix 5,286 $180,133 $209 0.1 % Denver 3,080 107,870 58 0.1 % Salt Lake City 1,316 85,459 21 <0.1% Las Vegas 2,444 81,196 98 0.1 % Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Los Angeles 12,907 $651,914 $10,190 1.6 % Sacramento 2,472 94,585 1,884 2.0 % San Francisco 4,643 456,511 480 0.1 % San Diego 3,304 107,742 873 0.8 % (1) Population, deposit, and market share data sourced from S&P Global Market Intelligence. Deposits and market share data as of June 30, 2025, and adjusted to a pro forma basis by S&P.

Leveraging Technology to Improve Collaboration and Performance 7 Enhancing the Customer Experience Driving Revenue GenerationCreating Operational Efficiencies ■ Building upon our recently acquired, best- in-class API marketplace to expand our embedded banking capabilities ■ Enhancing relationship banking with AI- powered "Smart Leads” provides opportunities to generate fee income through predictive analytics ■ Continuing to invest in new payment technologies, including instant payment platforms, integrated receivables and payables, and Zelle for Business ■ Deploying digital international banking solutions, including an online foreign exchange portal for real time FX quotes and trades ■ Offering differentiated small business and commercial online banking platforms by integrating technologies ■ Enhancing fraud protection and prevention measures to minimize customer losses, reduce customer friction, and increase core fee income for the bank ■ Updating our online account opening process to make it easier and more convenient for customers ■ Strengthening our bank security and risk management with advanced authentication technology to safeguard our customers across digital platforms ■ Embracing AI capabilities to improve associate productivity ■ Accelerating application development through automation of code generation, debugging, and documentation ■ Deploying AI-powered virtual assistants to augment human agents in our contact center ■ Automating tasks and streamlining operations to enhance efficiency and improve the customer experience; our goal is to be the most convenient bank for our associates (internally) and our customers (externally) Our customer-focused technology stack is built on resilient, scalable, and secure systems to advance our Business Bank of Choice operating strategy. We embrace technology to not only create operational efficiencies, but also to support an elevated customer experience and to drive additional revenue opportunities through needs-based solutions.

1st Quarter 2026 8

First Quarter 2026 Performance Highlights 9 ■ Seamlessly completed the systems conversion while minimizing impact to customers and consolidated nine branches related to our August 2025 acquisition of Pacific Premier. We continue to expect to realize all previously disclosed related cost savings by June 30, 2026. ■ Our first small business and retail campaign of 2026, which began in February and runs through April 30, 2026, has brought nearly $450 million in new deposits to the bank through mid-April and also has been successful in generating new SBA lending relationships. ■ Columbia repurchased 6.5 million common shares under its current repurchase plan during Q1 2026, returning $200 million in capital to our shareholders beyond our regular quarterly dividend. Our existing share repurchase authorization had $400 million remaining as of March 31, 2026. ■ Continued to deploy AI and automation across the organization. A key development during Q1 2026 improved the efficiency of our business online banking enrollment, accelerating a process that previously took two days down to two minutes. Reported Operating(1) $192 million $209 million Net Income Net Income $283 million $306 million Pre-Provision Net Revenue(1) Pre-Provision Net Revenue $0.66 $0.72 Earnings-per-Share - Diluted Earnings-per-Share - Diluted 1.18% 1.28% Return on Assets Return on Assets 1.73% 1.87% PPNR Return on Assets(1) PPNR Return on Assets 10.00% 10.89% Return on Equity Return on Equity 13.88% 15.11% Return on Tangible Common Equity(1) Return on Tangible Common Equity (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement for each is provided in the Appendix of this slide presentation.

Net Income and Earnings-per-Share 10 $ in m ill io ns Net Income $87 $152 $96 $215 $192 $139 $160 $204 $243 $209 GAAP Net Income Operating Net Income¹ Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ■ Columbia reported net income and EPS of $192 million and $0.66, respectively, for Q1 2026. On an operating basis,(1) net income and EPS were $209 million and $0.72, respectively. ■ The increase from Q1 2025 reflects the addition of Pacific Premier, continued progress on our balance sheet optimization targets, and disciplined expense management. ■ The decrease from Q4 2025 reflects the anticipated normalization in income, given $17 million in net interest income items that did not repeat, as detailed on the Net Interest Income and Net Interest Margin slide, and particularly strong revenue for Q4 2025. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. Non-operating items include gain (loss) on investment securities, gain (loss) on swap derivatives, gain (loss) on loans held for investment at fair value, change in fair value of MSR due to valuation inputs or assumptions, MSR hedge gain (loss), merger and restructuring expense, exit and disposal costs, an FDIC special assessment, a legal settlement, and other non-operating expenses. These items are detailed in the “Non-GAAP Reconciliation” section of the Appendix. Earnings-per-Share - diluted (“EPS”) $0.41 $0.73 $0.40 $0.72 $0.66$0.67 $0.76 $0.85 $0.82 $0.72 GAAP EPS - diluted Operating EPS - diluted¹ Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026

Key Earnings Drivers: Balance Sheet (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (2) Regulatory capital ratios are estimates pending completion and filing of Columbia’s regulatory reports. % Change ($ in millions, except per-share data) Q1 2026 Q4 2025 Q1 2025 Sequ. Quarter Year over Year AVERAGE ASSETS: Interest-bearing cash and temporary investments $1,578 $1,923 $1,494 (17.9) % 5.6 % Investment securities 11,350 11,264 8,508 0.8 % 33.4 % Loans and leases, gross 47,714 48,186 37,679 (1.0) % 26.6 % Total interest-earning assets 60,831 61,679 47,740 (1.4) % 27.4 % AVERAGE LIABILITIES AND EQUITY: Deposits, excluding brokered time deposits $52,225 $53,363 $39,202 (2.1) % 33.2 % Brokered time deposits + Borrowings 4,709 4,386 5,536 7.4 % (14.9) % Total shareholders' equity 7,786 7,814 5,217 (0.4) % 49.2 % RATIOS AND PER-SHARE METRICS: Dividend per-common share $0.37 $0.37 $0.36 — % 2.8 % Percentage of common shares repurchased during quarter 2.2 % 1.2 % — % 1.00 2.20 Book value per common share $26.47 $26.54 $24.93 (0.3) % 6.2 % Tangible book value per common share(1) $19.03 $19.11 $17.86 (0.4) % 6.6 % Common equity to assets ratio 11.6% 11.7% 10.2% (0.10) 1.40 Tangible common equity to tangible assets ratio(1) 8.6% 8.7% 7.5% (0.10) 1.10 Common equity tier 1 ratio(2) 11.5% 11.8% 10.6% (0.30) 0.90 Total risk-based capital ratio(2) 13.3% 13.6% 12.9% (0.30) 0.40 11 Q1 2026 Highlights (compared to Q4 2025) ■ Continued balance sheet optimization contributed to some minor contraction in average interest-earning assets to $60.8 billion for Q1 2026. We modestly reduced cash, utilizing excess balances to reduce wholesale funding sources. ■ Wholesale funding declined by $560 million between December 31, 2025 and March 31, 2026, though balances were higher on an average basis during Q1 2026, due to seasonal customer deposit declines late in December. ■ Average loan balances contracted modestly during Q1 2026 to $47.7 billion, as runoff in the transactional portfolio was not fully offset by commercial loan growth, which contributes to the profitable remix of our balance sheet. ■ We increased share repurchase activity during Q1 2026, buying back 2.2% of outstanding common shares during the quarter.

Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin $425 $446 $505 $627 $594 3.60% 3.75% 3.84% 4.06% 3.96% Net Interest Income ($ in millions) Net Interest Margin Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Net Interest Margin: Q4 2025 vs Q1 2026 4.06% (0.11)% (0.07)% 0.10% (0.02)% 3.96% Q4 2025 Reported Q4 Items¹ Loans¹ Deposits¹ Term Debt Q1 2026 Reported 12 ■ Net interest margin decreased 10 basis points from the prior quarter to 3.96% for Q1 2026. Net interest margin for Q4 2025 included an 8-basis point benefit related to the amortization of a premium on acquired time deposits and a 3-basis point benefit related to an accelerated loan repayment, neither of which repeated in Q1 2026. Net interest margin was otherwise consistent between periods, as lower yields on loans and cash following reductions to the federal funds rate during Q4 2025 were offset by lower deposit costs. ■ The cost of interest-bearing deposits decreased 4 basis points from the prior quarter to 2.04% for Q1 2026. The cost of interest-bearing liabilities decreased 3 basis points from the prior quarter to 2.24% for Q1 2026. The declining cost of deposits reflects our active management of deposit rates ahead of and following reductions to the federal funds rate, partially offset by the previously discussed premium amortization, which favorably impacted the cost of interest-bearing deposits and interest-bearing liabilities by 12 basis points and 11 basis points, respectively, during Q4 2025. (1) Net interest margin for Q4 2025 includes an 8-basis point benefit related to the amortization of a premium on acquired time deposits and a 3-basis point benefit related to an accelerated loan repayment, which did not repeat in Q1 2026. These impacts are presented collectively in “Q4 Items,” and “Loans” and “Deposits” are presented excluding these impacts.

Select Asset and Liability Maturity and Repricing Schedules (in Months) at March 31, 2026 ($ in millions) <=3 4 to 6 7 to 12 13 to 24 25 to 36 >36 Total % Total(3) Loans Fixed (maturity)(2) $518 $254 $445 $1,009 $1,056 $12,028 $15,310 32% Floating (repricing)(2) 15,873 — — — — — 15,873 33% Adjustable (repricing) 1,449 1,518 1,906 2,403 2,358 7,450 17,084 35% Total Loans $17,840 $1,772 $2,351 $3,412 $3,414 $19,478 $48,267 100% Time deposits (maturity)(4) $3,078 $1,910 $629 $68 $9 $20 $5,714 Average rate(4) 3.35% 3.12% 2.50% 0.54% 0.39% 0.22% 3.13% Term debt (maturity) $3,400 $— $— $— $— $— $3,400 Average rate 3.86% 3.86% Interest Rate Sensitivity 13 Note: Tables may not foot due to rounding. Loan totals on this slide do not include purchase accounting adjustments. Deferred fees and costs also drive variances between loan totals on this slide and loan totals in the earnings press release. (1) For the scenarios shown, the interest rate simulations assume a parallel and sustained shift in market interest rates ratably over a twelve-month period (ramp) or immediately (shock). The simulation repricing betas applied to interest-bearing deposits in the rising rate and declining rate scenarios are 50% and 50%, respectively, for March 31, 2026. Additional data related to interest rate simulations are available in Columbia’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025. (2) Commercial tranche loans that mature in one month are included in the floating rate loan category, not the fixed rate loan category, as these loans reprice in a manner similar to floating rate loans. (3) Floating rate loans are indexed to prime (9% of the total loan portfolio) and 1-month underlying interest rates (24% of the total loan portfolio). When adjustable rate loans reprice, they are indexed to interest rates that span 1-month tenors to 10-year tenors as well as the prime rate; the most prevalent underlying index rates are 6-month tenors (17% of the total loan portfolio), 1-year tenors (9% of the portfolio), and 5-year tenors (7% of the total loan portfolio). (4) Time deposits maturing in 3 months or less include $2.1 billion in customer CDs at an average rate of 3.17% and $1.0 billion in brokered CDs at an average rate of 3.72%. (5) Deposit and funding repricing beta data present combined company results as if historical Columbia and historical Umpqua Holdings Corporation were one company for all periods through December 31, 2022; subsequent time periods present data on a legal basis given the merger. The beta presentation is calculated in this manner for comparison purposes. (6) The cost of interest-bearing deposits, total deposits, and total funding for the three months ended December 31, 2025 is calculated excluding a $12 million benefit related to the amortization of a premium on acquired time deposits. On a reported basis, which includes the benefit of the premium amortization, the cost of these items was 2.08%, 1.40%, and 1.57%. This benefit to net interest income did not repeat after the three months ended December 31, 2025. Interest Rate Simulation Impact on Net Interest Income at March 31, 2026(1) Ramp Shock Year 1 Year 2 Year 1 Year 2 Up 200 basis points 0.1% 3.6% 0.7% 5.6% Up 100 basis points 0.0% 1.7% 0.4% 2.7% Down 100 basis points 0.2% (1.4)% 0.0% (2.4)% Down 200 basis points 2.0% (1.7)% 1.6% (3.8)% Down 300 basis points 5.3% (1.4)% 4.8% (4.8)% Deposit and Funding Repricing Betas During Current Rate Cycle Effective Fed Funds Rate (Daily Avg.) Cost of: Three Months Ended Interest- Bearing Deposits Total Deposits Total Funding December 31, 2021(5) 0.08% 0.10% 0.05% 0.09% December 31, 2022(5) 3.65% 0.62% 0.35% 0.51% December 31, 2023 5.33% 2.54% 1.63% 2.05% June 30, 2024 5.33% 2.97% 2.01% 2.34% Variance: Q2 2024 less Q4 2021 5.25% 2.87% 1.96% 2.25% Repricing Betas: Rising Rate Cycle 55% 37% 43% December 31, 2024 4.66% 2.66% 1.80% 2.09% December 31, 2025(6) 3.90% 2.20% 1.48% 1.65% March 31, 2026 3.64% 2.04% 1.39% 1.56% Variance: Q1 2026 less Q2 2024 (1.69)% (0.93)% (0.62)% (0.78)% Repricing Betas: Declining Rate Cycle-to-Date 55% 37% 46%

Non-Interest Income 14 $ in m ill io ns Total Non-Interest Income $66 $65 $77 $90 $83 $56 $66 $72 $88 $81 GAAP Non-Interest Income Operating Non-Interest Income¹ Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ■ Non-interest income for Q1 2026 decreased $7 million from the prior quarter. Operating non-interest income(1) also decreased $7 million from the prior quarter to $81 million, due to lower swap, syndication, and international banking revenue following strong performance in the prior quarter, as well as an expected slowdown in customer activity that is typical for the first quarter. ■ Our Business Bank of Choice strategy incorporates a collaborative team approach to deliver needs-based solutions to our customers, which deepens relationships and provides growth in sustainable core fee income. Our trends reflect a growing contribution from treasury management, card & merchant activity, wealth management, and other product revenue over the trailing 12 months. $ in m ill io ns Operating Non-Interest Income¹ $56 $66 $72 $88 $81 Other Treasury Mgmt Card & Merchant Wealth Mgmt Deposit Services Mortgage Loan Income Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. Non-operating non-interest income items include gain (loss) on investment securities, gain (loss) on swap derivatives, gain (loss) on loans held for investment at fair value, change in fair value of MSR due to valuation inputs or assumptions, and MSR hedge gain (loss). These items are detailed in the “Non-GAAP Reconciliation” section of the Appendix.

Non-Interest Expense 15 $ in m ill io ns Non-Interest Expense ("NIE") $340 $278 $393 $412 $394 $270 $270 $307 $373 $369 GAAP Non-Interest Expense Operating Non-Interest Expense¹ Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ■ Non-interest expense for Q1 2026 decreased $18 million from the prior quarter, due to lower merger expense. Operating non-interest expense(1) decreased $4 million from the prior quarter to $369 million, due to cost savings related to the Pacific Premier acquisition, partially offset by seasonally higher payroll taxes. We completed the systems conversion and nine branch consolidations during Q1 2026, and we continue to expect to realize all previously disclosed related cost savings by June 30, 2026. ■ Our cost-conscious culture provides expense offsets to continued investment in customer-focused technology, experienced bankers, and strategic locations. These investments create operational efficiency and bring additional revenue opportunities to the bank in support of our Business Bank of Choice strategy. $ in m ill io ns Non-Interest Expense: Q4 2025 vs Q1 2026 $412 $6 $(11) $(1) $2 $(14) $394 Q4 2025 NIE Payroll Taxes Other Comp. Intangible Amort. Misc. Other Non- operating¹ Q1 2026 NIE (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. Non-operating expense items include merger and restructuring expense, exit and disposal costs, an FDIC special assessment, a legal settlement, and other non-operating expenses. These items are detailed in the “Non-GAAP Reconciliation” section of the Appendix.

Continued Strong Credit Quality Provision Expense, Net Charge-Offs to Average Loans, and Nonperforming Assets to Total Assets $27 $30 $— $23 $28 $70 0.32% 0.31% 0.22% 0.25% 0.30% 0.35% 0.35% 0.29% 0.30% 0.40% Provision Expense ($mm) Acquisition-Related Provision Expense ($mm)¹ Net Charge-Offs / Average Loans (annualized) Non-Performing Assets / Total Assets Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 16 Allowance for Credit Losses ("ACL") $438 $439 $492 $485 $478 $57 $52 $157 $144 $133 1.17% 1.17% 1.01% 1.02% 1.00% 1.32% 1.31% 1.34% 1.32% 1.28% ACL ($mm) Credit Discount ($mm) ACL / Total Loans and Leases ACL + Credit Discount / Total Loans and Leases Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 ■ The remaining credit discount on loans of $133 million as of March 31, 2026 provides an additional 28 basis points of loss absorption when added to the ACL of $478 million. ■ Net charge-offs in the FinPac portfolio were $14 million in Q1 2026, unchanged from Q4 2025. Net charge-offs excluding the FinPac portfolio were $21 million, or 0.19% of average bank loans, in Q1 2026, compared to $16 million, or 0.12% of average bank loans, in Q4 2025. ■ Nonperforming loans of $261 million as of March 31, 2026 include $88 million of loans with government guarantees. (1) Acquisition-related provision expense of $70 million was booked in Q3 2025, related to non-purchased credit deteriorated (“PCD”) loans and unfunded commitments acquired during Q3 2025. Non-acquisition-related provision expense was $0 for Q3 2025.

ACL Reflects Strong Portfolio Credit Metrics (1) Total includes reserve for unfunded commitments of $19 million as of both March 31, 2026 and December 31, 2025. 17 ■ Our reserve coverage by loan segment and for the overall loan and lease portfolio reflects our robust underwriting criteria and ongoing, routine portfolio monitoring activities. For example, we stress applicable variables, such as interest rates, cash flows, and occupancy, at inception and loan review and limit borrower proceeds as a result. These factors contribute to lower LTVs and higher DSC ratios, which are taken into consideration in the estimation of our ACL. ■ The quarter’s provision expense of $28 million reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models. We used components of Moody’s Analytics’ February 2026 consensus economic forecast and Moody’s Analytics’ February 2026 S2 scenario to estimate our ACL as of March 31, 2026. Allowance for Credit Losses by Loan Segment ($ in millions) Commercial Lease & Equipment Commercial Real Estate Residential & Home Equity Consumer Total(1) Remaining Credit Discount on Loans Total ACL including Credit Discount on Loans(1) Balance as of December 31, 2025 $142 $91 $208 $35 $9 $485 $144 $629 Q1 2026 Net charge-offs (21) (14) — — — (35) Q1 2026 Reserve build (release) 1 15 15 (1) (2) 28 Balance as of March 31, 2026 $122 $92 $223 $34 $7 $478 $133 $611 % of Loans and leases outstanding 1.14% 5.68% 0.81% 0.45% 4.13% 1.00% 1.28%

Capital Management 18 Regulatory Capital Ratios: Bank & Holding Company as of March 31, 2026 9.7% 12.0% 12.0% 13.0% 9.3% 11.5% 11.5% 13.3% Columbia Bank Columbia Banking System Tier 1 Leverage CET1 Tier 1 Capital Total Risk-Based —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% ■ Columbia remains above current “well-capitalized” regulatory minimums and our long-term target ratios. ■ Columbia repurchased 6.5 million common shares under its current repurchase plan at an average price of $30.74 during the three months ended March 31, 2026. ■ We expect to organically generate capital above what is required to support prudent growth and our regular dividend. We intend to continue returning excess capital to our shareholders through our existing share repurchase authorization, which had $400 million remaining as of March 31, 2026. We regard share repurchases as an additional tool to prudently and proactively manage our capital ratios in 2026 and beyond. Note: Columbia Bank and Columbia Banking System, Inc. long-term capital ratio targets reflect a targeted excess level of capital above regulatory well-capitalized minimums inclusive of the capital conservation buffer (“CCB”) where applicable. The minimum capital ratios to be considered well capitalized inclusive of the CCB are 7.0%, 8.5%, and 10.5% for the common equity tier 1 (“CET1”) ratio, tier 1 capital ratio, and total risk-based capital ratio, respectively. The CCB does not apply to the tier 1 leverage ratio, which has a well-capitalized minimum level of 5.0%. All regulatory capital ratios as of March 31, 2026 are estimates pending completion and filing of Columbia’s and Columbia Bank’s regulatory reports. Capital Deployment Supports Active Ratio Management 10.6% 10.8% 11.6% 11.8% 11.5% 12.9% 13.0% 13.4% 13.6% 13.3% COLB: CET1 Ratio COLB: Total RBC Ratio 3/31/2025 6/30/2025 9/30/2025 12/31/2025 03/31/2026 —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 12% Long-Term Target 10% Long-Term Target 9% Long-Term Target 6.5% Long-Term Target

Diversified, High Quality Loan and Lease Portfolio $47,776 $1,243 ($269) ($1,116) $64 $47,697 12/31/2025 Balance New Orig. Net Advances/ (Payments) Prepays/ Payoffs Other 3/31/2026 Balance 19 Mortgage, 11% FinPac, 3% C&I, 23% Owner Occupied CRE, 15% Non-OO CRE, 17% Multifamily, 21% Other Loan Categories, 10% Q1 2026 Activity ($ millions) Other, 17% Puget Sound, 16% WA Other, 6% Portland Metro, 11% OR Other, 11% Bay Area, 6% Northern CA, 8% Southern CA, 25% Geographic Distribution ■ Loans and leases were $47.7 billion as of March 31, 2026, compared to $47.8 billion as of December 31, 2025, as commercial loan growth only partially offset runoff in below-market rate transactional loans.(1) ■ Commercial loans, inclusive of owner-occupied commercial real estate (“CRE”), increased by 6% on an annualized basis relative to December 31, 2025, contributing to the continued remix of our loan portfolio toward higher-return, relationship-based lending. ■ New origination volume in Q1 2026 was up 38% relative to Q1 2025, reflecting increased customer activity and the addition of bankers from Pacific Premier. Loan Composition $47.7 Billion $47.7 Billion Note: Totals may not foot due to rounding. (1) See the Appendix of this slide presentation for additional details related to the below-market rate transactional loan portfolio.

Our Diversified Commercial Bank Business Model with a Strong Retail Network Supports our Granular, High-Quality Deposit Base Non-interest, 33% Demand, 20% Money Market, 31%Savings, 5% Time, 11% Enterprise-wide Deposit Composition 20 ■ Deposits were $53.5 billion as of March 31, 2026 and represented by a granular base that is diversified by business line, industry, and geography. Our average customer account balance is $44 thousand.(1) ■ Our use of public and brokered deposits as a source of funding beyond term debt impacts the composition of our enterprise-wide deposit portfolio. We believe our customer deposit composition(1) is more illustrative of the quality of Columbia’s core deposit franchise. Our bankers’ activity is geared toward protecting the quality of our relationship-based franchise while generating net customer balance growth to reduce the need for non- core funding sources over time. Commercial, 29% Commercial - Small Business, 25% Consumer, 37% Brokered, 3% Public & Other, 6% Deposits by Category Customer Deposit Composition(1) Non-interest, 34% Demand, 20% Money Market, 31%Savings, 5% Time, 10% (1) Excludes all public, administrative, and brokered deposits, as detailed on the “Liquidity Overview” slide in the Appendix. Excluded balances accounted for 9% of total deposits as of March 31, 2026. This is a non-GAAP financial measure. $53.5 Billion $53.5 Billion $48.9 Billion

Appendix 21 Page Loan Portfolio Slides 22 Liquidity Overview 26 Securities Portfolio 27 Summary Income Statements 28 Summary Balance Sheets 29 Non-GAAP Reconciliations 30

Granular Loan and Lease Portfolios with Strong Underlying Fundamentals Note: Portfolio statistics and delinquencies as of March 31, 2026. Annualized net charge-off rates for Q1 2026. Loan-to-value (“LTV”), FICO, and debt service coverage (“DSC”) ratios are based on weighted averages for portfolios where data are available. LTV represents average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding. ■ Portfolio average loan size of $469,000 ■ 1Q26 average loan size of $506,000 ■ Total delinquencies of 1.51% ■ Annualized net charge-off (recovery) rate of 0.00% ■ Portfolio average FICO of 759 and LTV of 60% ■ 1Q26 average FICO of 774 and LTV of 63% Non-owner Occupied CRE ■ Portfolio average loan size of $1.8 million ■ 1Q26 average loan size of $1.4 million ■ Total delinquencies of 0.65% ■ Annualized net charge-off (recovery) rate of 0.01% ■ Portfolio average LTV of 50% and DSC of 1.87 ■ 1Q26 average LTV of 53% and DSC of 1.30 Commercial & Industrial ■ Portfolio average loan size of $811,000 ■ 1Q26 average loan size of $1.0 million ■ Total delinquencies of 0.93% ■ Annualized net charge-off (recovery) rate of 0.80% Multifamily ■ Portfolio average loan size of $2.3 million ■ 1Q26 average loan size of $2.4 million ■ Total delinquencies of 0.11% ■ Annualized net charge-off (recovery) rate of 0.00% ■ Portfolio average LTV of 54% and DSC of 1.54 ■ 1Q26 average LTV of 76% and DSC of 1.49 Owner Occupied CRE ■ Portfolio average loan size of $1.2 million ■ 1Q26 average loan size of $1.4 million ■ Total delinquencies of 0.97% ■ Annualized net charge-off (recovery) rate of 0.01% ■ Portfolio average LTV of 55% ■ 1Q26 average LTV of 61% Lease & Equipment Finance (FinPac) ■ Portfolio average loan & lease size of $41,000 ■ 1Q26 average loan & lease size of $51,000 ■ Total delinquencies of 3.23% ■ Annualized net charge-off (recovery) rate of 3.49% ■ Portfolio average yield: ~10% Mortgage 22

C&I and CRE Portfolio Composition Agriculture, 8.3% Contractors, 8.2% Finance/ Insurance, 8.0% Manufacturing, 7.9% Professional, 3.7% Public Admin, 5.7% Rental & Leasing, 6.1% Retail, 3.4% Support Services, 4.4% Transportation/ Warehousing, 6.5% Wholesale, 7.2% Gaming, 7.5% Dentists, 5.0% Other Healthcare, 4.9% Franchise/ QSR, 2.8% Other, 10.4% Office, 13.7% Multifamily, 40.1% Industrial, 14.6% Retail, 9.9% Special Purpose, 7.4% Hotel/Motel, 3.8% Other, 10.5% CRE Portfolio Composition(1)C&I Portfolio Composition(1) Note: Data as of March 31, 2026.Totals may not foot due to rounding. QSR = Quick service restaurants. (1) C&I portfolio composition includes term, lines of credit & other, and leases & equipment finance balances. CRE portfolio composition includes non-owner occupied term and owner occupied term balances as well as multifamily balances. (2) Owner occupied and non-owner occupied disclosure relates to commercial real estate portfolio excluding multifamily loans. 47% Owner Occupied / 53% Non-Owner Occupied(2)Commercial Line Utilization: 38% 23 $12.3 Billion $25.5 Billion

Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off 24 Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of March 31, 2026 December 31, 2025 < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total ($ in millions) Balance Rate Balance Rate Balance Rate Balance Rate Balance Rate Balance Rate Transactional Loans(1) Non-owner occupied CRE $215 5.15% $101 4.60% $43 4.67% $151 4.32% $511 4.75% $547 4.79% Multifamily 2,310 4.55% 747 3.80% 931 3.59% 1,113 3.84% 5,101 4.11% 5,242 4.14% Residential mortgage 312 4.31% 272 3.99% 229 3.88% 1,198 3.70% 2,010 3.86% 2,063 3.87% Total Transactional Loans $2,836 4.57% $1,119 3.92% $1,204 3.68% $2,462 3.80% $7,621 4.09% $7,852 4.11% Non-transactional loans and leases 40,646 40,688 Total Loans and Leases $48,267 $48,540 Prioritizing Relationships & Profitability ■ Our relationship-based lending verticals and a strong core deposit base remain the cornerstone of our franchise. Past transactional lending and the wholesale sources that fund these assets have muted the balance sheet’s profitability, but they have not diluted the quality of our core franchise. ■ As below-market-rate transactional loans reach their repricing date, our profitability will improve, as loans will either reprice higher and remain on balance sheet or refinance elsewhere, exiting the balance sheet, with proceeds used to reduce higher-cost funding. ■ Current interest rates make outright asset sales unattractive given a lengthy payback period. However, longer term, we may sell loans opportunistically if payback periods are short and align with value preservation and creation.Note: Tables may not foot due to rounding. Loan totals on this slide do not include purchase accounting adjustments. Deferred fees and costs also drive variances between loan totals on this slide and loan totals in the earnings press release. (1) Below-market-rate transactional loans are defined as loans where the customer relationship had a zero deposit balance as of the initial measurement date. Presented interest rates reflect loan coupon rates.

Office Portfolio Details Puget Sound, 16% WA Other, 4% Portland Metro, 11% OR Other, 13%Bay Area, 5% N. CA, 8% S. CA, 31% Other, 12% Office Portfolio Metrics at March 31, 2026 Average loan size $1.4 million Average LTV 57% DSC (non-owner occupied) 1.78x % with guaranty (by $ / by #) 86% / 86% Past due 30-89 days $2.7mm / 0.08% of office Nonaccrual $30.2mm / 0.83% of office Special mention $51.2mm / 1.41% of office Classified $78.3mm / 2.17% of office Number of Loans by Balance Geography 25 ■ Loans secured by office properties represented 7% of our total loan portfolio as of March 31, 2026. ■ Our office portfolio is 45% owner occupied, 52% non-owner occupied, and 3% construction. Dental and other healthcare loans compose 23% of our office portfolio. ■ The average loan size in our office portfolio is $1.4 million. ■ Delinquencies were at a very low level as of March 31, 2026, and the majority of our loans contain a guaranty. ■ Excluding floating rate loans, only 10% of our office portfolio reprices through 2027. Loans repricing in 2026 and 2027 have average balances of $0.8 million and $1.2 million, respectively. 1,746 441 71 38 7 6 <$1mm $1-5mm $5-10mm $10-20mm $20-30mm >$30mm 2026, 5% 2027, 5% 2028, 3% 2029 & After, 13% Fixed Rate¹, 68% Floating Rate, 6% Repricing Schedule (1) Loans with a swap component are displayed as a fixed rate loan if the swap maturity is equal to the maturity of the loan. If the swap matures prior to the loan, the loan is displayed as adjustable with the rate resetting at the time of the swap maturity. 2026, 5% 2027, 9% 2028, 8% 2029 & After, 78% Maturity Schedule , 19 8 9 6 7 1,842 623 9 6 10 4

Liquidity Overview Total Available Liquidity at March 31, 2026 ($ in millions) Total off-balance sheet liquidity (available lines of credit): $20,359 Cash and equivalents, less reserve requirement 1,925 Excess collateral 4,817 Total available liquidity $27,100 TOTAL AVAILABLE LIQUIDITY AS A PERCENTAGE OF: Assets of $66.0 billion at March 31, 2026 41 % Deposits of $53.5 billion at March 31, 2026 51 % Uninsured deposits of $20.9 billion at March 31, 2026 129 % Total Off-Balance Sheet Liquidity Available at March 31, 2026 ($ in millions) Gross Availability Utilization Net Availability FHLB lines $17,003 $3,579 $13,424 Federal Reserve Discount Window 6,235 — 6,235 Uncommitted lines of credit 700 — 700 Total off-balance sheet liquidity $23,938 $3,579 $20,359 26 ■ Deposits declined during Q1 2026, due to an intentional reduction in brokered deposits. Customer deposit balances increased despite seasonal pressure, due to new business generation and strong quarter-end inflows. Further, the Homeowners Association (“HOA”) business we acquired from Pacific Premier provided a counter-cyclical benefit, as related balances increased nearly $160 million during the quarter. Select Balance Sheet Items Three Months Ended Sequential Quarter Change ($ in millions) Q1 2026 Q4 2025 Q1 2025 Q1 2026 Commercial deposits $15,800 $15,945 $11,260 ($145) Small business deposits 13,447 13,068 8,104 379 Consumer deposits 19,621 19,745 16,642 (124) Total customer deposits 48,868 48,758 36,006 110 Public deposits - non-interest bearing 712 729 697 (17) Public deposits - interest bearing 2,079 2,185 2,352 (106) Total public deposits 2,791 2,914 3,049 (123) Administrative deposits 235 184 174 51 Brokered deposits 1,595 2,355 2,989 (760) Total deposits $53,489 $54,211 $42,218 ($722) Term debt $3,400 $3,200 $2,550 $200 Cash & cash equivalents $2,099 $2,380 $2,072 ($281) Available-for-sale securities $10,915 $11,112 $8,229 ($197) Loans and leases $47,697 $47,776 $37,616 ($79) Note: Tables may not foot due to rounding.

Available-for-Sale Securities Portfolio as of March 31, 2026 ($ in millions) Current Par Amortized Cost Unrealized Gains Unrealized Losses Fair Value % of Total AFS Portfolio Effective Duration Book Yield U.S. Treasuries $185 $185 $0 ($1) $184 2 % 1.5 3.47 % U.S. Agencies 1,031 1,041 $3 ($39) 1,006 9 % 2.6 2.57 % Mortgage-backed securities - residential agency 4,342 3,993 $8 ($224) 3,777 35 % 6.2 3.94 % Collateralized mortgage obligations(1) 1,834 1,681 $10 ($85) 1,606 15 % 5.5 4.11 % Obligations of states and political subdivisions 1,853 1,577 $26 ($20) 1,583 15 % 5.9 4.03 % Commercial mortgage-backed securities - agency 2,859 2,784 $16 ($41) 2,760 25 % 3.7 4.58 % Total available for sale securities $12,103 $11,262 $63 ($410) $10,915 5.1 4.00 % Percentage of current par 93% 1% (3%) 90% 27 Securities Portfolio Overview Note: Table may not foot due to rounding. (1) Portfolio includes $226 million in high-quality non-agency collateralized mortgage obligations (“CMO”) that were in a small unrealized gain position as of March 31, 2026 (amortized cost of $223 million). The remaining $1.4 billion of the portfolio is comprised primarily of residential agency CMOs. ■ The total available-for-sale (“AFS”) securities portfolio had a book yield of 4.00% and an effective duration of 5.1 as of March 31, 2026, compared to 3.99% and 5.2, respectively, as of December 31, 2025. ■ As of March 31, 2026, 42% of the AFS securities portfolio (by fair value) was in an unrealized gain position and had a weighted average book yield of 4.79%. The remaining 58% of the portfolio was in an unrealized loss position and had a weighted average book yield of 3.46%.

Summary Income Statements Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. For the Quarter Ended ($ in millions, except per-share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Net interest income before provision $594 $627 $505 $446 $425 Provision for credit losses 28 23 70 30 27 Net interest income after provision 566 604 435 416 398 Non-interest income 83 90 77 65 66 Non-interest expense 394 412 393 278 340 Income before provision for income taxes 255 282 119 203 124 Provision for income taxes 63 67 23 51 37 Net income $192 $215 $96 $152 $87 Earnings per share, diluted $0.66 $0.72 $0.40 $0.73 $0.41 Operating non-interest expense(1) $369 $373 $307 $270 $270 Pre-provision net revenue(1) $283 $305 $189 $233 $151 Operating pre-provision net revenue(1) $306 $342 $270 $242 $211 Operating net income(1) $209 $243 $204 $160 $139 Operating earnings per share, diluted(1) $0.72 $0.82 $0.85 $0.76 $0.67 28 Q1 2026 Highlights (compared to Q4 2025) ■ Net interest income decreased by $33 million, as the prior quarter included $17 million of net interest income related to premium amortization on acquired time deposits and an accelerated loan repayment that did not repeat in the current quarter. The remaining decrease reflects lower average interest-earning asset balances. ■ Non-interest income decreased by $7 million, due in part to lower swap, syndication, and international banking revenue following strong performance in the prior quarter, as well as an expected slow down in customer activity that is typical for the first quarter. ■ Non-interest expense decreased by $18 million, due to lower merger expense. ■ Provision expense was $28 million, compared to $23 million for the prior quarter.

Summary Period-End Balance Sheets Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. ($ in millions, except per-share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 ASSETS: Total assets $66,027 $66,832 $67,496 $51,901 $51,519 Interest bearing cash and temporary investments 1,522 1,869 1,808 1,334 1,481 Investment securities available for sale, fair value 10,915 11,112 11,013 8,653 8,229 Loans and leases, gross 47,697 47,776 48,462 37,637 37,616 Allowance for credit losses on loans and leases (459) (466) (473) (421) (421) Goodwill and other intangibles, net 2,153 2,194 2,235 1,459 1,485 LIABILITIES AND EQUITY: Deposits 53,489 54,211 55,771 41,743 42,218 Securities sold under agreements to repurchase 162 207 167 191 192 Borrowings 3,400 3,200 2,300 3,350 2,550 Total shareholders' equity 7,664 7,840 7,790 5,342 5,238 RATIOS AND PER-SHARE METRICS: Loan to deposit ratio 89.2% 88.1% 86.9% 90.2% 89.1% Book value per common share $26.47 $26.54 $26.04 $25.41 $24.93 Tangible book value per common share(1) $19.03 $19.11 $18.57 $18.47 $17.86 Common equity to assets ratio 11.6% 11.7% 11.5% 10.3% 10.2% Tangible common equity to tangible assets ratio(1) 8.6% 8.7% 8.5% 7.7% 7.5% 29 Q1 2026 Highlights (compared to Q4 2025) ■ Loan balances decreased in Q1 2026, due to continued runoff in transactional loans, partially offset by growth in commercial loans. The commercial loan portfolio, inclusive of owner-occupied CRE, increased by 6% on an annualized basis relative to December 31, 2025. ■ Total deposits decreased, due to an intentional reduction in brokered deposits, as customer deposits increased by $110 million despite anticipated seasonal pressure, due in part to the counter-cyclical impact of our HOA business. ■ Book value and tangible book value(1) declined just slightly relative to December 31, 2025, due to an increase in accumulated other comprehensive loss. Book value and tangible book value increased 6% and 7%, respectively, relative to March 31, 2025.

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 Tangible common shareholders’ equity b $5,511 $5,646 $5,555 $3,883 $3,753 Total assets c $66,027 $66,832 $67,496 $51,901 $51,519 Less: Goodwill 1,482 1,482 1,481 1,029 1,029 Less: Other intangible assets, net 671 712 754 430 456 Tangible assets d $63,874 $64,638 $65,261 $50,442 $50,034 Common shares outstanding at period end (in thousands) e 289,530 295,422 299,147 210,213 210,112 Total shareholders' equity to total assets ratio a / c 11.61 % 11.73 % 11.54 % 10.29 % 10.17 % Tangible common equity to tangible assets ratio b / d 8.63 % 8.73 % 8.51 % 7.70 % 7.50 % Book value per common share a / e $26.47 $26.54 $26.04 $25.41 $24.93 Tangible book value per common share b / e $19.03 $19.11 $18.57 $18.47 $17.86 30

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) Gain (loss) on loans held for investment, at fair value (2) — 4 — 7 Change in fair value of MSR due to valuation inputs or assumptions 6 (1) — (2) (1) MSR hedge gain (loss) (2) — — 2 3 Total non-interest income adjustments a $2 $2 $5 ($1) $10 Non-Interest Expense Adjustments Merger and restructuring expense $24 $39 $87 $8 $14 Exit and disposal costs 1 1 — — 1 FDIC special assessment — (5) (1) — — Legal settlement and other non-operating expense — 4 — — 55 Total non-interest expense adjustments b $25 $39 $86 $8 $70 Average Assets n $66,215 $67,114 $56,823 $51,552 $51,453 Less: Average goodwill and other intangible assets, net 2,175 2,217 1,719 1,472 1,502 Average tangible assets o $64,040 $64,897 $55,104 $50,080 $49,951 Average common shareholders’ equity p $7,786 $7,814 $6,157 $5,287 $5,217 Less: Average goodwill and other intangible assets, net 2,175 2,217 1,719 1,472 1,502 Average tangible common equity q $5,611 $5,597 $4,438 $3,815 $3,715 Weighted average basic shares outstanding (in thousands) r 290,933 295,376 237,838 209,125 208,800 Weighted average diluted shares outstanding (in thousands) s 292,160 296,760 238,925 209,975 210,023 31

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 non-interest income (non-GAAP) e $81 $88 $72 $66 $56 Revenue (GAAP) f=c+d $677 $717 $582 $511 $491 Operating revenue (non-GAAP) g=c+e $675 $715 $577 $512 $481 Non-interest expense (GAAP) h $394 $412 $393 $278 $340 Less: Non-interest expense adjustments b (25) (39) (86) (8) (70) Operating non-interest expense (non-GAAP) i $369 $373 $307 $270 $270 Net income (GAAP) j $192 $215 $96 $152 $87 Provision for income taxes 63 67 23 51 37 Income before provision for income taxes 255 282 119 203 124 Provision for credit losses 28 23 70 30 27 Pre-provision net revenue (PPNR) (non-GAAP) k 283 305 189 233 151 Less: Non-interest income adjustments a (2) (2) (5) 1 (10) Add: Non-interest expense adjustments b 25 39 86 8 70 Operating PPNR (non-GAAP) l $306 $342 $270 $242 $211 Net income (GAAP) j $192 $215 $96 $152 $87 Acquisition-related provision expense — — 70 — — Less: Non-interest income adjustments a (2) (2) (5) 1 (10) Add: Non-interest expense adjustments b 25 39 86 8 70 Tax effect of adjustments (6) (9) (43) (1) (8) Operating net income (non-GAAP) m $209 $243 $204 $160 $139 32

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 share - diluted j/s $0.66 $0.72 $0.40 $0.73 $0.41 Efficiency ratio(1) h/f 58.03 % 57.30 % 67.29 % 54.29 % 69.06 % Non-interest expense to average assets h/n 2.41 % 2.44 % 2.74 % 2.16 % 2.68 % Return on average assets j/n 1.18 % 1.27 % 0.67 % 1.19 % 0.68 % Return on average tangible assets j/o 1.22 % 1.31 % 0.69 % 1.22 % 0.70 % PPNR return on average assets k/n 1.73 % 1.80 % 1.32 % 1.81 % 1.19 % Return on average common equity j/p 10.00 % 10.92 % 6.19 % 11.56 % 6.73 % Return on average tangible common equity j/q 13.88 % 15.24 % 8.58 % 16.03 % 9.45 % Operating Per-Share & Performance Metrics Operating earnings per share - basic m/r $0.72 $0.82 $0.86 $0.77 $0.67 Operating earnings per share - diluted m/s $0.72 $0.82 $0.85 $0.76 $0.67 Operating efficiency ratio, as adjusted(1) u/y 53.68 % 51.39 % 52.32 % 51.79 % 55.11 % Operating non-interest expense to average assets i/n 2.26 % 2.20 % 2.14 % 2.10 % 2.13 % Operating return on average assets m/n 1.28 % 1.44 % 1.42 % 1.25 % 1.10 % Operating return on average tangible assets m/o 1.32 % 1.49 % 1.47 % 1.28 % 1.13 % Operating PPNR return on average assets l/n 1.87 % 2.02 % 1.89 % 1.88 % 1.67 % Operating return on average common equity m/p 10.89 % 12.34 % 13.15 % 12.16 % 10.87 % Operating return on average tangible common equity m/q 15.11 % 17.22 % 18.24 % 16.85 % 15.26 % (1) Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation. 33

Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted 34 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 expense (non-GAAP) i 369 373 307 270 270 Less: B&O taxes t (4) (3) (3) (3) (3) Operating non-interest expense, excluding B&O taxes (non- GAAP) u $365 $370 $304 $267 $267 Net interest income (tax equivalent)(1) v $596 $629 $507 $447 $426 Non-interest income (GAAP) d 83 90 77 65 66 Add: BOLI tax equivalent adjustment(1) w 3 3 2 2 1 Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) x 682 722 586 514 493 Less: non-interest income adjustments a (2) (2) (5) 1 (10) Total Adjusted operating revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP) y $680 $720 $581 $515 $483 Efficiency ratio(1) h/f 58.03 % 57.30 % 67.29 % 54.29 % 69.06 % Operating efficiency ratio, as adjusted (non-GAAP)(1) u/y 53.68 % 51.39 % 52.32 % 51.79 % 55.11 % (1) Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

Source: View Original Filing on SEC EDGAR

FAQ

How did Columbia Banking System (COLB) perform in Q1 2026?

Columbia Banking System reported Q1 2026 net income of $192 million and diluted EPS of $0.66. Operating net income was $209 million, reflecting higher revenue after the Pacific Premier acquisition, lower merger costs, and continued balance sheet optimization during the quarter.

What were Columbia Banking System’s key profitability and margin metrics in Q1 2026?

Columbia posted a Q1 2026 net interest margin of 3.96% and net interest income of $594 million. Return on average assets was 1.18%, while return on average common equity reached 10.00%, indicating solid profitability supported by higher scale and cost control.

How did loans, deposits, and liquidity trend for Columbia Banking System in Q1 2026?

At March 31, 2026, Columbia reported $47.7 billion in loans and leases and $53.5 billion in deposits. Total assets were $66.0 billion. Management highlighted balance sheet optimization, including reduced excess cash and lower reliance on wholesale funding during the quarter.

What were Columbia Banking System’s credit quality metrics in Q1 2026?

Credit quality remained controlled, with net charge-offs at 0.30% of average loans and leases (annualized) and non-performing assets at 0.40% of total assets. The allowance for credit losses was $478 million, equal to 1.00% of loans and leases, providing a meaningful credit buffer.

How strong were Columbia Banking System’s capital ratios and shareholder returns in Q1 2026?

Columbia ended Q1 2026 with an estimated total risk-based capital ratio of 13.3% and common equity tier 1 ratio of 11.5%. The company paid a $0.37 quarterly dividend per share and repurchased 6.5 million shares for $200 million under its existing repurchase plan.

What progress did Columbia Banking System report on the Pacific Premier acquisition integration?

Columbia closed the Pacific Premier acquisition on August 31, 2025 and completed systems conversion and nine branch consolidations in Q1 2026. The company stated it continues to expect realization of all previously disclosed acquisition-related cost savings by June 30, 2026.

Filing Exhibits & Attachments

5 documents

Columbia (NASDAQ: COLB) Q1 2026 EPS reaches $0.66 as buybacks rise

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8-K Event Classification

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Earnings Snapshot

FAQ

How did Columbia Banking System (COLB) perform in Q1 2026?

What were Columbia Banking System’s key profitability and margin metrics in Q1 2026?

How did loans, deposits, and liquidity trend for Columbia Banking System in Q1 2026?

What were Columbia Banking System’s credit quality metrics in Q1 2026?

How strong were Columbia Banking System’s capital ratios and shareholder returns in Q1 2026?

What progress did Columbia Banking System report on the Pacific Premier acquisition integration?

Filing Exhibits & Attachments

Press Releases

Other Documents

Columbia (NASDAQ: COLB) Q1 2026 EPS reaches $0.66 as buybacks rise

Rhea-AI Filing Summary

Positive

Negative

Insights

Banking sector analyst neutral

8-K Event Classification

Key Figures

Key Terms

Earnings Snapshot

FAQ

How did Columbia Banking System (COLB) perform in Q1 2026?

What were Columbia Banking System’s key profitability and margin metrics in Q1 2026?

How did loans, deposits, and liquidity trend for Columbia Banking System in Q1 2026?

What were Columbia Banking System’s credit quality metrics in Q1 2026?

How strong were Columbia Banking System’s capital ratios and shareholder returns in Q1 2026?

What progress did Columbia Banking System report on the Pacific Premier acquisition integration?

Filing Exhibits & Attachments

Press Releases

Other Documents