Columbia Banking System, Inc. reported second quarter 2026 net income of $208 million and diluted EPS of $0.73, with operating net income of $217 million and operating diluted EPS of $0.76 for the quarter ended June 30, 2026.
Net interest income was $589 million and net interest margin was 3.93%, slightly lower than the prior quarter, while non-interest income rose to $88 million and non-interest expense declined to $375 million, improving the efficiency ratio to 55.15%. Return on average assets was 1.27% and return on average common equity was 10.99%. Credit metrics remained stable, with net charge-offs at 0.25% of average loans and leases (annualized), an allowance for credit losses of $475 million (1.01% of loans and leases), and non-performing assets at 0.42% of total assets.
Total assets were $65.4 billion, loans and leases $47.2 billion, and deposits $52.1 billion, reflecting balance sheet optimization, including reductions in brokered and wholesale public deposits and higher borrowings of $4.3 billion. The company declared a quarterly dividend of $0.37 per share and repurchased $199 million of common stock (6.6 million shares at an average price of $29.93). Book value per share was $26.70, tangible book value per share $19.22, and estimated regulatory capital ratios remained strong, with a 13.4% total risk-based capital ratio and 11.6% common equity tier 1 ratio. Integration of the Pacific Premier acquisition and related cost synergies were essentially complete by quarter-end.
Columbia Banking System EVP Aaron James Deer, Chief Strategy and Innovation Officer, bought 886 shares of common stock in an open-market transaction recorded as an ESPP purchase at $25.37 per share. After this transaction, he directly owns 42,761 common shares, indicating a small incremental increase in his personal stake.
Columbia Banking System, Inc. announced the schedule for its second quarter 2026 financial results and investor communications. The company plans to release Q2 2026 earnings on Thursday, July 23, 2026, after the market closes.
Management will host a conference call for investors and analysts on July 23, 2026, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results and provide an update on recent activities, followed by a live question-and-answer session. Participants can register for either a dial-in line or a listen-only audiocast, and a replay will be available through the investor relations section of Columbia’s website.
MACHUCA LUIS reported acquisition or exercise transactions in this Form 4 filing.
Columbia Banking System director Luis Machuca received a compensation-related award of 563 units of Deferred Compensation Phantom Stock tied to Columbia common stock. The award was valued at $31.78 per unit on the grant date and is held as an indirect deferred compensation position.
Following this grant, Machuca’s deferred compensation account reflects a total of 48,966 phantom stock units. According to the company’s deferred compensation plan, these phantom stock units will be settled after he ceases serving as a director, in line with the plan’s terms, rather than through current market trading.
Columbia Banking System EVP Chief Marketing Officer David Moore Devine reported selling 3,872 shares of Common Stock in open-market transactions. The trades occurred on June 8, 2026 at prices around $29.77 per share. These were routine stock sales and he continues to hold a direct stake in the company after the transactions.
COLB submitted a Form 144 notifying a proposed sale of 3,872 shares of Common Stock. The filing lists the shares as restricted stock vesting under compensation arrangements, with vesting lots of 1,094, 1,484, 696, and 598 shares tied to dates from 01/01/2024 through 02/15/2026.
The notice names Fidelity Brokerage Services LLC and records a transaction date of 06/08/2026 on the NASDAQ entry. The filing advises these restricted shares are the securities proposed for sale under the Form 144 notice.
Varnado Anddria reported acquisition or exercise transactions in this Form 4 filing.
COLUMBIA BANKING SYSTEM, INC. director Anddria Varnado received a grant of 3,949 shares of Common Stock on May 14, 2026. The shares were awarded at a reported price of $0.00 per share, indicating a compensation-related equity award rather than an open-market purchase. Following this grant, Varnado directly holds 30,894 shares of the company’s common stock.
Terry Hilliard C. III reported acquisition or exercise transactions in this Form 4 filing.
COLUMBIA BANKING SYSTEM, INC. director Terry C. Hilliard III received a grant of 3,949 shares of Common Stock on May 14, 2026. The award was recorded at a price of $0.00 per share, indicating a compensation-related stock grant rather than an open-market purchase. Following this grant, Hilliard directly holds 55,514 shares of Common Stock.
STUDENMUND JAYNIE M reported acquisition or exercise transactions in this Form 4 filing.
Columbia Banking System director Jaynie M. Studenmund reported a compensation-related stock grant. She received 3,949 shares of Columbia Banking System common stock as a grant or award at a stated price of $0.00 per share, increasing her direct holdings to 21,807 shares. A separate line shows 3,843 shares held indirectly through an IRA, which reflects an existing position rather than a new market transaction.
SEATON ELIZABETH WHITEHEAD reported acquisition or exercise transactions in this Form 4 filing.
COLUMBIA BANKING SYSTEM, INC. director Elizabeth Whitehead Seaton reported a routine equity grant and a change in how some shares are held. She received 3,949 shares of common stock as a grant, bringing her directly held shares to 3,949. A footnote explains that 32,566 shares previously reported as directly owned are now indirectly beneficially owned through a trust.