COLUMBIA BANKING SYSTEM INC

For the period ended Dec 31, 2024. Filed Feb 25, 2025.

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.

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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Contents

Consolidated Statements of Income

(in thousands, except per share amounts)	2024	2023	2022
INTEREST INCOME
Interest and fees on loans and leases	$2,320,364	$2,113,615	$1,050,258
Interest and dividends on investment securities:
Taxable	305,173	276,841	72,264
Exempt from federal income tax	27,515	24,109	5,351
Dividends	11,961	13,103	438
Interest on temporary investments and interest-bearing deposits	90,227	111,659	19,706
Total interest income	2,755,240	2,539,327	1,148,017
INTEREST EXPENSE
Interest on deposits	802,806	461,654	48,195
Interest on securities sold under agreement to repurchase and federal funds purchased	4,873	3,923	997
Interest on borrowings	190,241	242,914	8,920
Interest on junior and other subordinated debentures	38,918	37,665	19,889
Total interest expense	1,036,838	746,156	78,001
Net interest income	1,718,402	1,793,171	1,070,016
PROVISION FOR CREDIT LOSSES	105,924	213,199	84,016
Net interest income after provision for credit losses	1,612,478	1,579,972	986,000
NON-INTEREST INCOME
Service charges on deposits	71,517	65,525	48,365
Card-based fees	57,089	55,263	37,370
Financial services and trust revenue	20,208	13,471	90
Residential mortgage banking revenue, net	24,108	16,789	106,859
Gain on sale of debt securities, net	24	13	2
(Loss) gain on equity securities, net	(392)	2,300	(7,099)
(Loss) gain on loan and lease sales, net	(2,853)	4,414	6,696
Bank-owned life insurance income	18,760	15,624	8,253
Other income (loss)	22,505	30,528	(1,008)
Total non-interest income	210,966	203,927	199,528
NON-INTEREST EXPENSE
Salaries and employee benefits	588,830	616,103	441,226
Occupancy and equipment, net	182,372	183,480	138,451
Communications	13,871	16,252	10,429
Marketing	11,036	11,399	6,540
Services	57,614	57,641	51,323
FDIC assessments	41,577	71,402	13,964
Intangible amortization	119,431	111,296	4,095
Merger and restructuring expense	23,713	171,659	17,356
Other expenses	66,250	73,468	51,566
Total non-interest expense	1,104,694	1,312,700	734,950
Income before provision for income taxes	718,750	471,199	450,578
Provision for income taxes	185,075	122,484	113,826
Net income	$533,675	$348,715	$336,752
Earnings per common share (1):
Basic	$2.56	$1.79	$2.60
Diluted	$2.55	$1.78	$2.60
Weighted average number of common shares outstanding (1):
Basic	208,463	195,304	129,277
Diluted	209,337	195,871	129,732

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.