COLUMBIA BANKING SYSTEM INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
COLB$30.85-0.5%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Comprehensive Income
| (in thousands) | 2023 | 2022 | 2021 |
|---|---|---|---|
| Net income | $348,715 | $336,752 | $420,300 |
| Available for sale securities: | |||
| Unrealized gains (losses) arising during the period | 109,221 | (548,193) | (124,970) |
| Income tax (expense) benefit related to unrealized gains (losses) | (28,411) | 140,995 | 32,142 |
| Reclassification adjustment for net realized gains in earnings | (13) | (2) | (8) |
| Income tax expense related to realized gains | 3 | 1 | 2 |
| Net change in unrealized gains (losses) for available for sale securities | 80,800 | (407,199) | (92,834) |
| Junior subordinated debentures, at fair value: | |||
| Unrealized gains (losses) arising during the period | 7,866 | (28,842) | (37,899) |
| Income tax (expense) benefit related to unrealized gains (losses) | (2,045) | 7,418 | 9,747 |
| Net change in unrealized gains (losses) for junior subordinated debentures, at fair value | 5,821 | (21,424) | (28,152) |
| Pension plan liability adjustment: | |||
| Amortization of unrecognized net actuarial gain included in net periodic pension cost | 136 | — | — |
| Income tax expense related to unrecognized actuarial loss | (35) | — | — |
| Net change in pension plan liability adjustment | 101 | — | — |
| Other comprehensive income (loss), net of tax | 86,722 | (428,623) | (120,986) |
| Comprehensive income (loss) | $435,437 | $(91,871) | $299,314 |
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