TACOMA, Wash., July 23, 2026 /PRNewswire/ --

$208 million		$217 million		$0.73		$0.76
Net income		Operating net income¹		Earnings per common share - diluted		Operating earnings per common share - diluted¹

CEO Commentary

"Our second quarter results demonstrate the resilience of our franchise and reflect the value of disciplined execution across the company," said Clint Stein, Chairman, CEO & President. "While the operating environment remains dynamic, we continued to execute on our strategic priorities through prudent expense management, ongoing balance sheet optimization, and consistent capital returns to shareholders. Commercial loan balances continued to grow, reflecting the strength of our customer relationships and the trust we have built across our markets. We also continued to reposition the balance sheet in ways that support stronger long-term performance. Supported by our diversified business model, sound credit culture, and strong capital generation, we remain committed to delivering sustainable returns and creating long-term value for our shareholders."

Clint Stein, Chairman, CEO & President of Columbia Banking System, Inc.

2Q26 HIGHLIGHTS (COMPARED TO 1Q26)

Net Interest Income and NIM	• Net interest income decreased by $5 million from the prior quarter, due in part to $4 million of interest income reversals, alongside modest balance sheet deleveraging.
Net Interest Income and NIM	• Net interest margin was 3.93%, down 3 basis points from the prior quarter, as the interest income reversals mentioned above reduced the net interest margin by 3 basis points.

Non-Interest Income and Expense	• Non-interest income increased by $5 million, due primarily to higher treasury management and card-based fees, partially offset by quarterly changes in fair value adjustments and hedging activity. Results also include $3 million in death benefit proceeds related to a single policy.
Non-Interest Income and Expense	• Non-interest expense decreased by $19 million, due to lower merger expense and the realization of acquisition-related cost savings.

Credit Quality	• Net charge-offs were 0.25% of average loans and leases (annualized), compared to 0.30% for the prior quarter.
	• Provision expense was $27 million, compared to $28 million for the prior quarter.
	• Non-performing assets to total assets ratio was 0.42%, compared to 0.40% as of March 31, 2026.

Capital	• Estimated total risk-based capital ratio of 13.4% and estimated common equity tier 1 risk-based capital ratio of 11.6%.
	• Declared a quarterly cash dividend of $0.37 per common share on May 15, 2026, which was paid June 15, 2026.
	• Repurchased $199 million of common stock under our current repurchase plan.

Notable Items	• Our first small business and retail campaign of 2026, which began in February and ended April 30, 2026, brought over $600 million in new deposits to the bank and also was successful in generating new SBA lending relationships. Our second campaign began in June and has generated approximately $650 million in new deposit balances through mid- July.

2Q26 KEY FINANCIAL DATA

PERFORMANCE METRICS	2Q26	1Q26	2Q25
Return on average assets	1.27 %	1.18 %	1.19 %
Return on average common equity	10.99 %	10.00 %	11.56 %
Return on average tangible common equity¹	15.29 %	13.88 %	16.03 %
Operating return on average assets¹	1.33 %	1.28 %	1.25 %
Operating return on average common equity¹	11.46 %	10.89 %	12.16 %
Operating return on average tangible common equity¹	15.95 %	15.11 %	16.85 %
Net interest margin	3.93 %	3.96 %	3.75 %
Efficiency ratio	55.15 %	58.03 %	54.29 %
Operating efficiency ratio, as adjusted ¹	52.92 %	53.68 %	51.79 %

INCOME STATEMENT ($ in millions, excl. per share data)	2Q26	1Q26	2Q25
Net interest income	$589	$594	$446
Provision for credit losses	$27	$28	$30
Non-interest income	$88	$83	$65
Non-interest expense	$375	$394	$278
Pre-provision net revenue¹	$302	$283	$233
Operating pre-provision net revenue¹	$314	$306	$242
Earnings per common share - diluted	$0.73	$0.66	$0.73
Operating earnings per common share - diluted¹	$0.76	$0.72	$0.76
Dividends paid per share	$0.37	$0.37	$0.36

BALANCE SHEET ($ in millions, excl. per share data)	2Q26	1Q26	2Q25
Total assets	$65,380	$66,027	$51,901
Loans and leases	$47,166	$47,697	$37,637
Deposits	$52,056	$53,489	$41,743
Book value per common share	$26.70	$26.47	$25.41
Tangible book value per common share¹	$19.22	$19.03	$18.47

Organizational Update

Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") closed its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") on August 31, 2025, and completed the systems conversion and nine branch consolidations during the first quarter of 2026. All organizational changes and cost-related synergies were essentially complete as of June 30, 2026, including the achievement of our previously disclosed cost savings target associated with the Pacific Premier acquisition.

During the second quarter, we opened a branch in Colorado Springs and a financial hub in Las Vegas. We continue to strategically expand and refine our physical footprint to support relationship-driven growth, while funding these initiatives through targeted real estate optimization and other efficiency improvements.

Net Interest Income and Net Interest Margin

Net interest income was $589 million for the second quarter of 2026, down $5 million from the first quarter of 2026, due in part to $4 million of interest income reversals, alongside modest balance sheet deleveraging.

Columbia's net interest margin was 3.93% for the second quarter of 2026, down 3 basis points from the first quarter of 2026, as the interest income reversals mentioned above reduced the net interest margin by 3 basis points during the second quarter. Excluding this impact, net interest margin was consistent between periods, as higher yields on loans and leases partially offset a lower yield on taxable securities, driven by changes in prepayment speed expectations. Improved funding costs also contributed favorably to the net interest margin.

The cost of interest-bearing deposits decreased 8 basis points from the prior quarter to 1.96% for the second quarter of 2026, compared to 2.04% for the first quarter of 2026. The decrease during the second quarter reflects our active management of deposit rates and a lower mix of higher-cost brokered deposits. The cost of interest-bearing deposits was 1.95% for the month of June and 1.94% as of June 30, 2026.

Columbia's cost of interest-bearing liabilities decreased 3 basis points from the prior quarter to 2.21% for the second quarter of 2026, compared to 2.24% for the first quarter of 2026. The cost of interest-bearing liabilities was 2.22% for the month of June and 2.21% as of June 30, 2026. Refer to the Q2 2026 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.

Non-interest Income

Non-interest income was $88 million for the second quarter of 2026, up $5 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value loss of $3 million for the second quarter, compared to a net fair value gain of $2 million for the first quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $91 million² for the second quarter of 2026, up $10 million between periods, due primarily to higher treasury management and card-based fees. We also received $3 million in death benefit proceeds during the second quarter related to a single policy, which was recorded in other income.

Non-interest Expense

Non-interest expense was $375 million for the second quarter of 2026, down $19 million from the prior quarter, due to lower merger expense. Excluding merger and restructuring expense and exit and disposal costs, as detailed in our non-GAAP disclosures, non-interest expense was $366 million², down $3 million from the prior quarter, due to cost savings related to the Pacific Premier acquisition. Refer to the Q2 2026 Earnings Presentation for additional expense details.

Balance Sheet

Total consolidated assets were $65.4 billion as of June 30, 2026, compared to $66.0 billion as of March 31, 2026. The decrease reflects balance sheet optimization activity. Cash and cash equivalents were $1.8 billion as of June 30, 2026, compared to $2.1 billion as of March 31, 2026. Including secured off-balance sheet lines of credit, total available liquidity was $25.6 billion as of June 30, 2026, representing 39% of total assets, 49% of total deposits, and 125% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $11.1 billion as of June 30, 2026, compared to $10.9 billion as of March 31, 2026. The increase is due to the purchase of $462 million of investment securities, which offset paydowns and a decrease in the fair value of the portfolio. Refer to the Q2 2026 Earnings Presentation for additional details related to our investment securities portfolio and liquidity position.

Gross loans and leases were $47.2 billion as of June 30, 2026, compared to $47.7 billion as of March 31, 2026. The decrease reflects continued expected runoff in below-market-rate transactional loans and lower balances in non-owner occupied commercial real estate given elevated payoffs, due in part to competitive pricing pressure. Commercial loans, inclusive of owner-occupied commercial real estate, increased by 5% on an annualized basis relative to March 31, 2026, partially offsetting contraction in other portfolios. "Our bankers remained focused on relationship-driven activity during the second quarter, generating new business opportunities while continuing to manage the balance sheet with discipline," commented Tory Nixon, President of Columbia Bank. "Commercial relationship growth remained solid, and the continued runoff of lower-return transactional loans is reshaping our balance sheet as intended. Customer engagement remains healthy, and we remain encouraged by the quality of our pipelines and the opportunities we see across our western footprint." Refer to the Q2 2026 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans.

Total deposits were $52.1 billion as of June 30, 2026, compared to $53.5 billion as of March 31, 2026. The decrease reflects intentional reductions in brokered deposits and wholesale public deposits, which declined to $978 million and $928 million, respectively, as of June 30, 2026, compared to $1.6 billion and $1.2 billion, respectively, as of March 31, 2026. Customer deposit contraction in April due to seasonal tax payments also contributed to the decline between periods. "Seasonal factors reduced deposit balances early in the quarter, with balances stabilizing in May and June despite increasing competition," stated Mr. Nixon. "Our teams continue to emphasize relationship banking, serving our customers through advice-driven conversations and tailored solutions, while preserving the strength of our core deposit franchise. Meeting the evolving needs of our customers remains at the center of the value we provide." We utilized borrowings, which were $4.3 billion as of June 30, 2026, compared to $3.4 billion as of March 31, 2026, to supplement funding needs. Refer to the Q2 2026 Earnings Presentation for additional details related to deposit characteristics and flows.

Credit Quality

The allowance for credit losses ("ACL") was $475 million, or 1.01% of loans and leases, as of June 30, 2026, compared to $478 million, or 1.00% of loans and leases, as of March 31, 2026. The provision for credit losses was $27 million for the second quarter of 2026 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.

Net charge-offs were 0.25% of average loans and leases (annualized) for the second quarter of 2026, compared to 0.30% for the first quarter of 2026. Net charge-offs in the FinPac portfolio were $15 million for the second quarter, compared to $14 million for the first quarter. Net charge-offs excluding the FinPac portfolio were $15 million for the second quarter, compared to $21 million for the first quarter. Non-performing assets were $273 million, or 0.42% of total assets, as of June 30, 2026, compared to $264 million, or 0.40% of total assets, as of March 31, 2026. Refer to the Q2 2026 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends.

Capital

Columbia's book value per common share was $26.70 as of June 30, 2026, compared to $26.47 as of March 31, 2026. During the second quarter, Columbia repurchased 6.6 million common shares under its current repurchase plan at an average price of $29.93, representing 2.3% of outstanding common shares. Book value also was impacted by the change in accumulated other comprehensive (loss) income ("AOCI") to $(310) million as of June 30, 2026, compared to $(291) million as of the prior quarter-end. The change in AOCI is due primarily to an increase in the tax-effected net unrealized loss on available-for-sale securities to $275 million as of June 30, 2026, compared to $260 million as of March 31, 2026. Tangible book value per common share³ was $19.22 as of June 30, 2026, compared to $19.03 as of March 31, 2026.

Columbia's estimated total risk-based capital ratio was 13.4% and its estimated common equity tier 1 risk-based capital ratio was 11.6% as of June 30, 2026, compared to 13.5% and 11.7%, respectively, as of March 31, 2026. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of June 30, 2026 are estimates, pending completion and filing of Columbia's regulatory reports.

Earnings Presentation and Conference Call Information

Columbia's Q2 2026 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com.

Columbia will host its second quarter 2026 earnings conference call on July 23, 2026 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its second quarter 2026 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time.

Join the audiocast: https://edge.media-server.com/mmc/p/thdt6a5z/

Register for the call: https://register-conf.media-server.com/register/BIb20bf1c21e7e4dcd93e446da448dd1e9

Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx

About Columbia Banking System, Inc.

Columbia Banking System, Inc. (NASDAQ:COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning preeminent regional bank with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.

Forward-Looking Statements

This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) any revenue synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, and (ii) deposit attrition as a result of the Transaction; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors.

_________________________

¹ "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

² "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

³ "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

TABLE INDEX
	Page
Consolidated Statements of Income	7
Consolidated Balance Sheets	8
Financial Highlights	10
Loan & Lease Portfolio Balances and Mix	11
Deposit Portfolio Balances and Mix	13
Credit Quality - Non-performing Assets	14
Credit Quality - Allowance for Credit Losses	15
Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates	17
Residential Mortgage Banking Activity	19
GAAP to Non-GAAP Reconciliation	21

Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
	Quarter Ended					% Change
*($ in millions, shares in thousands)*	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Seq. Quarter	Year over Year
Interest income:
Loans and leases	$ 683	$ 684	$ 722	$ 619	$ 564	— %	21 %
Interest and dividends on investments:
Taxable	98	103	102	89	80	(5) %	23 %
Exempt from federal income tax	12	12	12	8	7	— %	71 %
Dividends	4	3	3	4	3	33 %	33 %
Temporary investments and interest bearing deposits	13	14	19	20	16	(7) %	(19) %
Total interest income	810	816	858	740	670	(1) %	21 %
Interest expense:
Deposits	173	184	195	195	180	(6) %	(4) %
Securities sold under agreement to repurchase and federal funds purchased	1	1	1	1	1	— %	— %
Borrowings	39	30	27	30	35	30 %	11 %
Junior and other subordinated debentures	8	7	8	9	8	14 %	— %
Total interest expense	221	222	231	235	224	— %	(1) %
Net interest income	589	594	627	505	446	(1) %	32 %
Provision for credit losses	27	28	23	70	30	(4) %	(10) %
Non-interest income:
Service charges on deposits	23	20	24	21	20	15 %	15 %
Card-based fees	17	15	16	15	14	13 %	21 %
Financial services and trust revenue	15	15	15	9	6	— %	150 %
Residential mortgage banking revenue, net	7	12	7	7	8	(42) %	(13) %
(Loss) gain on investment securities, net	(1)	—	2	2	—	nm	nm
Gain on loan and lease sales, net	—	1	1	—	—	(100) %	nm
(Loss) gain on loans held for investment, at fair value	(1)	(2)	—	4	—	(50) %	nm
BOLI income	9	9	9	6	5	— %	80 %
Other income	19	13	16	13	12	46 %	58 %
Total non-interest income	88	83	90	77	65	6 %	35 %
Non-interest expense:
Salaries and employee benefits	196	196	201	171	155	— %	26 %
Occupancy and equipment, net	65	66	67	54	47	(2) %	38 %
FDIC assessments	9	9	4	8	8	— %	13 %
Intangible amortization	38	41	42	31	26	(7) %	46 %
Merger and restructuring expense	9	24	39	87	8	(63) %	13 %
Other expenses	58	58	59	42	34	— %	71 %
Total non-interest expense	375	394	412	393	278	(5) %	35 %
Income before provision for income taxes	275	255	282	119	203	8 %	35 %
Provision for income taxes	67	63	67	23	51	6 %	31 %
Net income	$ 208	$ 192	$ 215	$ 96	$ 152	8 %	37 %

Weighted average basic shares outstanding (in thousands)	285,558	290,933	295,376	237,838	209,125	(2) %	37 %
Weighted average diluted shares outstanding (in thousands)	286,472	292,160	296,760	238,925	209,975	(2) %	36 %
Earnings per common share – basic	$ 0.73	$ 0.66	$ 0.72	$ 0.40	$ 0.73	11 %	— %
Earnings per common share – diluted	$ 0.73	$ 0.66	$ 0.72	$ 0.40	$ 0.73	11 %	— %

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc.
Consolidated Statements of Income
(Unaudited)
	Six Months Ended		% Change
*($ in millions, shares in thousands)*	Jun 30, 2026	Jun 30, 2025	Year over Year
Interest income:
Loans and leases	$ 1,367	$ 1,117	22 %
Interest and dividends on investments:
Taxable	201	149	35 %
Exempt from federal income tax	24	14	71 %
Dividends	7	6	17 %
Temporary investments and interest bearing deposits	27	32	(16) %
Total interest income	1,626	1,318	23 %
Interest expense:
Deposits	357	357	0 %
Securities sold under agreement to repurchase and federal funds purchased	2	2	0 %
Borrowings	69	71	(3) %
Junior and other subordinated debentures	15	17	(12) %
Total interest expense	443	447	(1) %
Net interest income	1,183	871	36 %
Provision for credit losses	55	57	(4) %
Non-interest income:
Service charges on deposits	43	39	10 %
Card-based fees	32	27	19 %
Financial services and trust revenue	30	11	173 %
Residential mortgage banking revenue, net	19	17	12 %
(Loss) gain on investment securities, net	(1)	2	(150) %
Gain on loan and lease sales, net	1	—	nm
(Loss) gain on loans held for investment, at fair value	(3)	7	(143) %
BOLI income	18	10	80 %
Other income	32	18	78 %
Total non-interest income	171	131	31 %
Non-interest expense:
Salaries and employee benefits	392	300	31 %
Occupancy and equipment, net	131	95	38 %
FDIC assessments	18	16	13 %
Intangible amortization	79	54	46 %
Merger and restructuring expense	33	23	43 %
Legal settlement	—	55	(100) %
Other expenses	116	75	55 %
Total non-interest expense	769	618	24 %
Income before provision for income taxes	530	327	62 %
Provision for income taxes	130	88	48 %
Net income	$ 400	$ 239	67 %

Weighted average basic shares outstanding (in thousands)	288,130	208,964	38 %
Weighted average diluted shares outstanding (in thousands)	289,212	209,965	38 %
Earnings per common share – basic	$ 1.39	$ 1.14	22 %
Earnings per common share – diluted	$ 1.38	$ 1.14	21 %

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc.
Consolidated Balance Sheets
(Unaudited)
						% Change
*($ in millions, shares in thousands)*	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Seq. Quarter	Year over Year
Assets:
Cash and due from banks	$ 648	$ 577	$ 511	$ 535	$ 608	12 %	7 %
Interest-bearing cash and temporary investments	1,121	1,522	1,869	1,808	1,334	(26) %	(16) %
Investment securities:
Equity and other, at fair value	126	124	113	112	93	2 %	35 %
Available for sale, at fair value	11,131	10,915	11,112	11,013	8,653	2 %	29 %
Held to maturity, at amortized cost	17	18	18	18	2	(6) %	nm
Loans held for sale	61	81	262	340	66	(25) %	(8) %
Loans and leases	47,166	47,697	47,776	48,462	37,637	(1) %	25 %
Allowance for credit losses on loans and leases	(458)	(459)	(466)	(473)	(421)	— %	9 %
Net loans and leases	46,708	47,238	47,310	47,989	37,216	(1) %	26 %
Restricted equity securities	207	168	159	119	161	23 %	29 %
Premises and equipment, net	424	426	422	416	357	— %	19 %
Goodwill	1,482	1,482	1,482	1,481	1,029	— %	44 %
Other intangible assets, net	633	671	712	754	430	(6) %	47 %
Bank-owned life insurance	1,227	1,222	1,218	1,199	705	— %	74 %
Other assets	1,595	1,583	1,644	1,712	1,247	1 %	28 %
Total assets	$ 65,380	$ 66,027	$ 66,832	$ 67,496	$ 51,901	(1) %	26 %
Liabilities:
Deposits
Non-interest-bearing	$ 17,218	$ 17,635	$ 17,419	$ 17,810	$ 13,220	(2) %	30 %
Interest-bearing	34,838	35,854	36,792	37,961	28,523	(3) %	22 %
Total deposits	52,056	53,489	54,211	55,771	41,743	(3) %	25 %
Securities sold under agreements to repurchase	189	162	207	167	191	17 %	(1) %
Borrowings	4,250	3,400	3,200	2,300	3,350	25 %	27 %
Junior subordinated debentures, at fair value	339	333	338	331	323	2 %	5 %
Junior and other subordinated debentures, at amortized cost	97	97	97	107	108	— %	(10) %
Other liabilities	897	882	939	1,030	844	2 %	6 %
Total liabilities	57,828	58,363	58,992	59,706	46,559	(1) %	24 %
Shareholders' equity:
Common stock	7,702	7,896	8,099	8,189	5,826	(2) %	32 %
Retained earnings (accumulated deficit)	160	59	(26)	(131)	(151)	171 %	nm
Accumulated other comprehensive loss	(310)	(291)	(233)	(268)	(333)	7 %	(7) %
Total shareholders' equity	7,552	7,664	7,840	7,790	5,342	(1) %	41 %
Total liabilities and shareholders' equity	$ 65,380	$ 66,027	$ 66,832	$ 67,496	$ 51,901	(1) %	26 %

Common shares outstanding at period end (in thousands)	282,817	289,530	295,422	299,147	210,213	(2) %	35 %

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm."

Columbia Banking System, Inc.
Financial Highlights
(Unaudited)
	Quarter Ended					% Change
	Jun 30, 2026	Mar 31, 2026	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Seq. Quarter	Year over Year
Per Common Share Data:
Dividends	$ 0.37	$ 0.37	$ 0.37	$ 0.36	$ 0.36	— %	3 %
Book value	$ 26.70	$ 26.47	$ 26.54	$ 26.04	$ 25.41	1 %	5 %
Tangible book value ⁽¹⁾	$ 19.22	$ 19.03	$ 19.11	$ 18.57	$ 18.47	1 %	4 %

Performance Ratios:
Efficiency ratio ⁽²⁾	55.15 %	58.03 %	57.30 %	67.29 %	54.29 %	(2.88)	0.86
Non-interest expense to average assets ⁽¹⁾	2.29 %	2.41 %	2.44 %	2.74 %	2.16 %	(0.12)	0.13
Return on average assets ("ROAA")	1.27 %	1.18 %	1.27 %	0.67 %	1.19 %	0.09	0.08
Pre-provision net revenue ("PPNR") ROAA ⁽¹⁾	1.85 %	1.73 %	1.80 %	1.32 %	1.81 %	0.12	0.04
Return on average common equity	10.99 %	10.00 %	10.92 %	6.19 %	11.56 %	0.99	(0.57)
Return on average tangible common equity ⁽¹⁾	15.29 %	13.88 %	15.24 %	8.58 %	16.03 %	1.41	(0.74)

Performance Ratios - Operating: ⁽¹⁾