Columbia Banking System Q4 2023 Earnings Report

Columbia Banking System reported net income of $94 million, or $0.45 per diluted common share, and operating net income of $91 million, or $0.44 per diluted common share for Q4 2023.

Key Takeaways

Columbia Banking System reported fourth quarter 2023 results, with net income of $94 million, or $0.45 per diluted common share. The quarter was impacted by a $33 million FDIC special assessment and some one-time expense items. Net interest income decreased to $454 million due primarily to higher deposit costs. The company is focusing on optimizing performance and driving shareholder value.

Net income of $94 million, or $0.45 per diluted common share

Operating net income of $91 million, or $0.44 per diluted common share

Consolidated asset balances of $52 billion at quarter end

Loan balances of $37 billion and deposit balances of $42 billion at quarter end