COLUMBIA BANKING SYSTEM INC
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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FY2024 · Filed Feb 25, 2025
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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Consolidated Statements of Cash Flow
| COLUMBIA BANKING SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2024, 2023, and 2022 | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $533,675 | $348,715 | $336,752 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred income tax expense | 30,839 | 12,895 | 14,383 |
| (Accretion) amortization of investment (discounts) premiums, net | (78,465) | (67,702) | 6,601 |
| Gain on sale of investment securities, net | (24) | (13) | (2) |
| Provision for credit losses | 105,924 | 213,199 | 84,016 |
| Change in cash surrender value of bank-owned life insurance | (19,083) | (15,962) | (8,353) |
| Depreciation, amortization and accretion | 149,869 | 144,252 | 28,305 |
| Gain on sale of premises and equipment | (2,908) | (31,472) | (2,747) |
| Additions to residential mortgage servicing rights carried at fair value | (6,452) | (5,347) | (24,137) |
| Change in fair value of residential mortgage servicing rights carried at fair value | 7,337 | 23,816 | (37,265) |
| Stock-based compensation | 20,426 | 18,073 | 9,753 |
| Net (increase) decrease in equity and other investments | (1,530) | (448) | 1,156 |
| Loss (gain) on equity securities, net | 392 | (2,300) | 7,099 |
| (Gain) loss on sale of loans and leases, net | (4,982) | (10,200) | 1,953 |
| Change in fair value of loans held for sale | (19) | 341 | 10,670 |
| Origination of loans held for sale | (563,918) | (441,568) | (1,839,466) |
| Proceeds from sales of loans held for sale | 528,206 | 602,634 | 2,076,548 |
| Change in other assets and liabilities: | |||
| Net (increase) decrease in other assets | (38,088) | (24,163) | 169,540 |
| Net (decrease) increase in other liabilities | (2,333) | (94,910) | 230,223 |
| Net cash provided by operating activities | 658,866 | 669,840 | 1,065,029 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of investment securities available for sale | (69,611) | (926,216) | (276,812) |
| Proceeds from investment securities available for sale | 552,369 | 1,694,850 | 396,100 |
| Purchases of restricted equity securities | (144,001) | (290,817) | (180,543) |
| Redemption of restricted equity securities | 173,251 | 260,697 | 144,315 |
| Net change in loans and leases | (516,630) | (1,335,189) | (3,744,493) |
| Proceeds from sales of loans and leases | 145,680 | 748,264 | 148,978 |
| Change in premises and equipment | (35,665) | 40,688 | (27,086) |
| Proceeds from bank-owned life insurance death benefits | 5,804 | 4,799 | 4,339 |
| Purchase of bank-owned life insurance | — | (28,243) | — |
| Proceeds from sale of mortgage servicing rights | — | 57,305 | — |
| Cash received in the Merger | — | 274,587 | — |
| Other | 3,374 | 1,011 | 2,110 |
| Net cash provided by (used in) investing activities | 114,571 | 501,736 | (3,533,092) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Net increase (decrease) in deposit liabilities | 113,712 | (651,130) | 470,945 |
| Net decrease in federal funds purchased | — | (14,000) | — |
| Net decrease in securities sold under agreements to repurchase | (15,492) | (126,675) | (183,478) |
| Proceeds from borrowings | 4,900,000 | 17,350,000 | 1,650,000 |
| Repayment of borrowings | (5,750,000) | (16,586,522) | (750,000) |
| Net proceeds from issuance of common stock | — | 1,185 | 54 |
| Dividends paid on common stock | (300,221) | (270,261) | (182,273) |
| Repurchase and retirement of common stock | (5,715) | (6,282) | (4,163) |
| Net cash (used in) provided by financing activities | (1,057,716) | (303,685) | 1,001,085 |
| Net (decrease) increase in cash and cash equivalents | (284,279) | 867,891 | (1,466,978) |
| Cash and cash equivalents, beginning of period | 2,162,534 | 1,294,643 | 2,761,621 |
| Cash and cash equivalents, end of period | $1,878,255 | $2,162,534 | $1,294,643 |
| COLUMBIA BANKING SYSTEM, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS For the Years Ended December 31, 2024, 2023, and 2022 (Continued) | |||
|---|---|---|---|
| (in thousands) | 2024 | 2023 | 2022 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash paid during the period for: | |||
| Interest | $1,077,870 | $692,991 | $71,209 |
| Income taxes | $101,476 | $138,910 | $71,804 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
| Changes in unrealized gains and losses on investment securities available for sale, net of taxes | $(111,597) | $80,800 | $(407,199) |
| Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | $(10,961) | $5,821 | $(21,424) |
| Transfer of loans to loans held for sale | $— | $118,085 | $— |
| Transfer of loans held for sale to loans held for investment | $2,746 | $5,754 | $25,057 |
| Acquisitions: | |||
| Assets acquired | $— | $19,230,586 | $— |
| Liabilities assumed | — | (17,920,542) | — |
| Net assets acquired | $— | $1,310,044 | $— |
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