Columbia Banking System (COLB) investor relations material

Executive summary

• Q3 net income was $220 million and operating net income was $229 million; diluted EPS was $0.78 and operating diluted EPS was $0.82.

• Balance-sheet optimization lifted NIM to 4.11%; deposits grew, wholesale funding declined, and loan balances contracted modestly amid transactional-loan runoff and CRE payoffs.

• Pacific Premier integration was described as complete; identified cost savings of $132 million-$133 million exceeded the $127 million target.

Financial highlights

• Net interest income was $615 million, up $26 million QoQ and 22% YoY; GAAP revenue was $695 million and GAAP net income rose 6% QoQ and 129% YoY.

• Operating PPNR was $337 million; operating net income was $229 million versus $217 million QoQ and $204 million YoY, while operating diluted EPS was $0.82.

• GAAP non-interest income was $80 million and operating non-interest income was $87 million; operating non-interest expense was $365 million, down $1 million QoQ.

• Nine-month GAAP net income was $620 million, PPNR $910 million, and diluted EPS $2.16; operating net income was $655 million, PPNR $957 million, and diluted EPS $2.29.

• Provision expense was $33 million versus $27 million in Q2, reflecting portfolio runoff, credit migration, charge-offs, and updated economic forecasts; credit metrics were characterized as stable and healthy.

Outlook and guidance

• Q4 NIM guidance is ~4.05%; NIM is expected to remain in the low-4% range for the next several quarters, with expansion anticipated into 2027.

• Q4 non-interest revenue is expected in the mid-$80 million range; non-interest expense guidance is $330 million-$335 million, excluding CDI amortization.

• Loans are expected flat to slightly down in Q4 and Q1; C&I growth is expected in the low-to-mid-single-digit range absent a major macro headwind.

• Q4 buybacks are expected at $150 million-$200 million; ~2% expense growth in 2027 is a reasonable planning assumption, with investment and offset discipline.

• Priorities include relationship-led lending, sustainable core fee growth, disciplined pricing and credit standards, balance-sheet optimization, and operational efficiency.