Columbia Banking System (COLB) Q3 2026 earnings summary

Executive summary

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

• Net interest margin expanded to 4.11% as balance-sheet optimization, deposit growth, and lower wholesale funding supported profitability.

• Loan balances contracted modestly amid transactional-loan runoff and CRE payoffs, while relationship-based commercial lending grew.

• Pacific Premier integration was substantially complete, with identified cost savings of $132M-$133M versus a $127M target.

Financial highlights

• Net interest income was $615M, up $26M QoQ; GAAP revenue was $695M, net income $220M, and diluted EPS $0.78.

• Operating PPNR was $337M, operating net income $229M, and operating diluted EPS $0.82; operating expense was $365M.

• Operating PPNR rose 7% QoQ and 25% YoY; operating net income rose 6% QoQ and 12% YoY.

• GAAP non-interest income was $80M and operating non-interest income $87M; GAAP and operating non-interest expense were $370M and $365M, respectively.

• 9M net income was $620M and diluted EPS $2.16; operating net income was $655M and operating diluted EPS $2.29.

Outlook and guidance

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

• Q4 non-interest revenue is expected in the mid-$80M range; non-interest expense guidance is $330M-$335M, 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 $150M-$200M; ~2% 2027 expense growth is a reasonable planning assumption, with investment and offset discipline continuing.

• Strategy prioritizes relationship-led lending and deposits, sustainable fee growth, balance-sheet optimization, disciplined credit standards, and operational efficiency.