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Sep 30, 2023
Columbia Banking System Q3 2023 Earnings Report
Columbia Banking System reported strong Q3 2023 results, driven by customer focus and balanced growth.
Key Takeaways
Columbia Banking System reported a net income of $136 million, or $0.65 per diluted common share, and operating net income of $164 million, or $0.79 per diluted common share. The results highlight stabilizing customer deposit trends, relationship-driven growth in the loan portfolio, and customer-based fee income. The company achieved $140 million in annualized net merger-related cost savings through quarter end.
Net income of $136 million, or $0.65 per diluted common share.
Operating net income of $164 million, or $0.79 per diluted common share.
Consolidated asset balances of $52 billion at quarter end.
Achieved $140 million in annualized net merger-related cost savings, surpassing the original target.
Columbia Banking System
Columbia Banking System
Forward Guidance
Columbia expects its capital position to continue to build over time, supporting the growing franchise and increasing flexibility for capital return.