COLUMBIA BANKING SYSTEM INC

For the period ended Dec 31, 2023. Filed Feb 27, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 27, 2024

COLB$31.00+1.7%Stored close · as of Nov 9, 2026

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Contents

Consolidated Statements of Operations

(in thousands, except per share amounts)	2023	2022	2021
INTEREST INCOME
Interest and fees on loans and leases	$2,113,615	$1,050,258	$890,515
Interest and dividends on investment securities:
Taxable	276,841	72,264	60,399
Exempt from federal income tax	24,109	5,351	5,947
Dividends	13,103	438	1,318
Interest on temporary investments and interest-bearing deposits	111,659	19,706	3,864
Total interest income	2,539,327	1,148,017	962,043
INTEREST EXPENSE
Interest on deposits	461,654	48,195	27,151
Interest on securities sold under agreement to repurchase and federal funds purchased	3,923	997	280
Interest on borrowings	242,914	8,920	2,838
Interest on junior and other subordinated debentures	37,665	19,889	12,127
Total interest expense	746,156	78,001	42,396
Net interest income	1,793,171	1,070,016	919,647
PROVISION (RECAPTURE) FOR CREDIT LOSSES	213,199	84,016	(42,651)
Net interest income after provision (recapture) for credit losses	1,579,972	986,000	962,298
NON-INTEREST INCOME
Service charges on deposits	65,525	48,365	42,086
Card-based fees	55,263	37,370	36,114
Financial services and trust revenue	13,471	90	5,112
Residential mortgage banking revenue, net	16,789	106,859	186,811
Gain on sale of debt securities, net	13	2	8
Gain (loss) on equity securities, net	2,300	(7,099)	(1,511)
Gain on loan and lease sales, net	4,414	6,696	15,715
Bank owned life insurance income	15,624	8,253	8,302
Other income (loss)	30,528	(1,008)	63,681
Total non-interest income	203,927	199,528	356,318
NON-INTEREST EXPENSE
Salaries and employee benefits	616,103	441,226	480,820
Occupancy and equipment, net	183,480	138,451	137,546
Communications	16,252	10,429	11,564
Marketing	11,399	6,540	7,381
Services	57,641	51,323	48,800
FDIC assessments	71,402	13,964	9,238
Intangible amortization	111,296	4,095	4,520
Merger-related expenses	171,659	17,356	15,183
Other expenses	73,468	51,566	45,404
Total non-interest expense	1,312,700	734,950	760,456
Income before provision for income taxes	471,199	450,578	558,160
Provision for income taxes	122,484	113,826	137,860
Net income	$348,715	$336,752	$420,300
Earnings per common share(1):
Basic	$1.79	$2.60	$3.22
Diluted	$1.78	$2.60	$3.21
Weighted average number of common shares outstanding(1):
Basic	195,304	129,277	130,499
Diluted	195,871	129,732	131,030

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.