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.
Columbia Banking System EVP and Chief Accounting Officer Lakely Brock had 396 shares of Common Stock withheld to cover tax obligations, based on a value of $29.10 per share. This tax-withholding disposition is not an open-market sale. After the transaction, Brock directly holds 10,708 shares of Columbia Banking System common stock.
Columbia Banking System is asking shareholders to elect 12 directors and approve executive pay and auditor ratification at its virtual 2026 annual meeting. During 2025 the bank closed its Pacific Premier acquisition, expanded across the West and strengthened its balance sheet.
Assets reached $67 billion, loans $48 billion and deposits $54 billion as of December 31, 2025. Net income was $550 million while operating net income rose to $746 million. Net interest margin improved to 3.83% from 3.57% and customer deposits grew 37% to $48.8 billion, supporting reduced wholesale funding.
The company repurchased 3.7 million shares for $100 million and paid $1.45 in dividends per share. Governance highlights include a mostly independent board, a combined Chair and Chief Executive Officer role with a designated Lead Independent Director, and annual say‑on‑pay voting.
Columbia Banking System, Inc. filed a current report to announce the schedule for its first quarter 2026 financial results and investor call. The company plans to release results on April 23, 2026 after market close and will host a conference call at 2:00 p.m. PT (5:00 p.m. ET) that day.
Management will discuss first quarter 2026 financial results, provide an update on recent activities, and hold a live question-and-answer session. Investors can access a live audiocast, register for the call to receive dial-in details, and later listen to a replay via the company’s investor relations website.
Columbia Banking System Inc: The Vanguard Group filed Amendment No. 14 to a Schedule 13G/A reporting beneficial ownership of 0 shares of Columbia Banking System Inc common stock following an internal realignment effective January 12, 2026. The filing states certain Vanguard subsidiaries will report ownership separately and that The Vanguard Group, Inc. no longer is deemed to beneficially own securities held by those subsidiaries. The form is signed by Ashley Grim, Head of Global Fund Administration on March 26, 2026.
Columbia Banking System executive Kumi Yamamoto Baruffi reported a routine tax-related share disposition. On March 13, 2026, 937 shares of common stock were withheld by the issuer at a price of $26.23 per share to satisfy tax obligations tied to equity award vesting. After this withholding, Baruffi directly owned 53,715 shares of Columbia Banking System common stock. An earlier Form 4 had incorrectly labeled the transaction as an open-market sale; this amendment corrects the code to show it was a tax-withholding event rather than a discretionary sale.
Columbia Banking System executive Lakely Brock reported a routine tax-related share disposition. On March 13, shares of Common Stock were withheld by the issuer to satisfy tax obligations tied to an equity award vesting, totaling 211 shares at $26.23 per share. After this withholding, Brock directly holds 11,104 shares.
Columbia Banking System director Luis Machuca reported a compensation-related award of deferred compensation phantom stock. On this Form 4, Machuca acquired 659 units of Deferred Compensation Phantom Stock tied to Columbia Banking System common stock at a reference price of $26.83 per unit.
The units were credited under the company’s deferred compensation plan and are held as an indirect interest classified as deferred compensation. Following this award, Machuca’s deferred compensation phantom stock balance is 48,403 units. According to the plan terms, these amounts will be paid after his employment with the company ends.
Columbia Banking System Chair, CEO and President Clint Stein exercised 18,171 restricted stock units into common shares and had part of the shares withheld for taxes. The restricted stock units converted one-for-one into common stock, and the associated common stock transaction was valued at $26.23 per share.
Of the 18,171 common shares tied to this vesting, 7,151 shares were withheld to satisfy tax obligations, leaving a net increase of 11,020 shares in his direct holdings. After these compensation-related transactions, Stein directly holds 151,584 shares of Columbia Banking System common stock.
The restricted stock units come from a grant of 54,511 units awarded on February 25, 2025, which vests in three equal annual installments beginning on March 13, 2026. This filing reflects the first vesting installment and related tax withholding rather than an open-market purchase or sale.