COLUMBIA BANKING SYSTEM INC
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
COLB$30.85-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three Months Ended | ||
|---|---|---|
| (in thousands, except per share amounts) | March 31, 2024 | March 31, 2023 |
| INTEREST INCOME | ||
| Interest and fees on loans and leases | $575,044 | $413,525 |
| Interest and dividends on investment securities: | ||
| Taxable | 75,017 | 39,729 |
| Exempt from federal income tax | 6,904 | 3,397 |
| Dividends | 3,707 | 719 |
| Interest on temporary investments and interest-bearing deposits | 23,553 | 18,581 |
| Total interest income | 684,225 | 475,951 |
| INTEREST EXPENSE | ||
| Interest on deposits | 198,435 | 63,613 |
| Interest on securities sold under agreement to repurchase and federal funds purchased | 1,266 | 406 |
| Interest on borrowings | 51,275 | 28,764 |
| Interest on junior and other subordinated debentures | 9,887 | 8,470 |
| Total interest expense | 260,863 | 101,253 |
| Net interest income | 423,362 | 374,698 |
| PROVISION FOR CREDIT LOSSES | 17,136 | 105,539 |
| Net interest income after provision for credit losses | 406,226 | 269,159 |
| NON-INTEREST INCOME | ||
| Service charges on deposits | 16,064 | 14,312 |
| Card-based fees | 13,183 | 11,561 |
| Financial services and trust revenue | 4,464 | 1,297 |
| Residential mortgage banking revenue, net | 4,634 | 7,816 |
| Gain on sale of debt securities, net | 12 | — |
| (Loss) gain on equity securities, net | (1,565) | 2,416 |
| Gain on loan and lease sales, net | 221 | 940 |
| Bank-owned life insurance income | 4,639 | 2,790 |
| Other income | 8,705 | 13,603 |
| Total non-interest income | 50,357 | 54,735 |
| NON-INTEREST EXPENSE | ||
| Salaries and employee benefits | 154,538 | 136,092 |
| Occupancy and equipment, net | 45,291 | 41,700 |
| Communications | 3,782 | 3,026 |
| Marketing | 1,936 | 1,059 |
| Services | 13,422 | 12,843 |
| FDIC assessments | 14,460 | 6,113 |
| Intangible amortization | 32,091 | 12,660 |
| Merger-related expenses | 4,478 | 115,898 |
| Other expenses | 17,518 | 13,427 |
| Total non-interest expense | 287,516 | 342,818 |
| Income (loss) before provision for income taxes | 169,067 | (18,924) |
| Provision (benefit) for income taxes | 44,987 | (4,886) |
| Net income (loss) | $124,080 | $(14,038) |
| Earnings (loss) per common share: | ||
| Basic | $0.60 | ($0.09) |
| Diluted | $0.59 | ($0.09) |
| Weighted average number of common shares outstanding: | ||
| Basic | 208,260 | 156,383 |
| Diluted | 208,956 | 156,383 |
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