Strong Loan Growth and …

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• Earnings Per Share (EPS): $0.66 reported, $0.72 operating for Q1 2026.

• Pre-Provision Net Revenue: Increased 45% compared to Q1 2025.

• Operating Net Income: Increased 50% compared to Q1 2025.

• Average Earning Assets: $60.8 billion during Q1 2026.

• Net Interest Margin: 3.96% for Q1 2026.

• Net Interest Income: $83 million GAAP basis, $81 million operating basis for Q1 2026.

• Non-Interest Income: Up 44% relative to Q1 2025.

• Non-Interest Expense: $369 million on an operating basis for Q1 2026.

• Provision Expense: $28 million for Q1 2026.

• Allowance for Credit Losses: 1% coverage of total loans at quarter end.

• Common Shares Repurchased: 6.5 million, returning $200 million to shareholders in Q1 2026.

• Commercial Loan Origination Volume: $1.2 billion, up 38% from the year-ago quarter.

• Customer Deposits: Increased by $110 million as of March 31, 2026.

• Total Deposits: $53.5 billion as of March 31, 2026.

• Return on Average Assets (ROAA): 1.3% for Q1 2026.

• Return on Tangible Common Equity (ROTCE): Over 15% for Q1 2026.

Release Date: April 23, 2026

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

• Columbia Banking System Inc (NASDAQ:COLB) successfully completed the Pac Premier Systems conversion and consolidated nine branches, achieving significant cost savings.

• The company reported strong commercial loan origination volume, with a 38% increase from the previous year, contributing to a 6% annualized growth in the commercial loan portfolio.

• Columbia Banking System Inc (NASDAQ:COLB) reduced reliance on wholesale funding as customer deposit balances expanded, improving the funding mix and positioning the balance sheet for sustained returns.

• The company utilized AI to enhance efficiency, automating traditionally manual tasks during the systems conversion, which improved execution and productivity.

• Columbia Banking System Inc (NASDAQ:COLB) increased its pace of share buybacks, returning $200 million to shareholders, reflecting confidence in the company’s stock as a valuable investment.

• Net interest margin decreased from 4.06% in the previous quarter to 3.96%, although it was at the top end of the expected range.

• The company experienced a modest uptick in CRE exposure due to acquired portfolios, although it continues to decline.

• Provision expense was $28 million for the quarter, reflecting loan portfolio runoff and credit migration trends.

• The agricultural industry relationship drove a modest increase in net charge-offs and non-performing assets.

• Tangible book value declined slightly due to higher accumulated other comprehensive loss on the securities portfolio given interest rate changes.

Q: Can you discuss the $1.2 billion in loan originations and the general trends driving this growth? A: Torran Nixon, Senior Executive Vice President, President of Commercial Banking – Umpqua Bank, explained that the $1.2 billion in commercial loan originations represents about a 35% growth from Q1 2025. This growth is attributed to a significant effort by bankers to bring new relationships into the bank, with growth spread across various regions, including the Pacific Northwest and Southern California.

Q: What are your expectations for net interest margin (NIM) in the medium term, and how is deposit pricing competition affecting this? A: Ivan Seda, Chief Financial Officer, stated that the NIM is expected to grow modestly in Q2, crossing over 4% at some point in the quarter. The bank has been optimizing its balance sheet, replacing low-yield transactional loans with higher-yield relationship lending. Christopher Merrywell, Senior Executive Vice President and President of Consumer Banking, added that they are disciplined in deposit pricing, constantly monitoring competition and looking for opportunities to trim costs.

Q: How did the integration and conversion of Pacific Premier go, and what feedback have you received from clients? A: Clint Stein, Chairman of the Board, President, Chief Executive Officer, noted that the conversion went smoothly with no customer disruption, marking it as one of the best they’ve had. Torran Nixon added that there was high retention of both associates and customers, with strong momentum in Southern California. Christopher Merrywell mentioned positive client feedback, with many praising the conversion process.

Q: Can you provide more details on the credit side, particularly regarding non-accrual additions and net charge-offs in the agricultural book? A: Frank Namdar, Chief Credit Officer, explained that the uptick in non-accruals was centered on one customer relationship in the hop industry, affected by high input costs and tight margins. This was not seen as systemic, and the charge-off was interrelated with this relationship.

Q: What is your outlook for deposit growth, and do you have any campaigns planned to maintain momentum? A: Christopher Merrywell stated that the current deposit campaign will end soon, with plans to relaunch in June and another campaign in the fall. These campaigns focus on deepening business relationships without special products or pricing, using existing offerings to drive growth.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.