Columbia Banking System, Inc. · NASDAQ:COLB
Columbia Banking System — Q3 2026 Earnings Presentation
35 slides from Columbia Banking System's earnings presentation, Oct 22, 2026
Slide 1: Third Quarter 2026 Earnings Presentation
Third Quarter 2026 Earnings Presentation October 22, 2026
Slide 2: Disclaimer: Forward-Looking Statements
Disclaimer FORWARD-LOOKING STATEMENTS This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the acquisition of Pacific Premier Bancorp, Inc. (“Pacific Premier”) by Columb
Slide 3: Table of Contents
Table of Contents 3 Page Columbia Corporate Overview 4 Third Quarter 2026 8 Appendix 22 Loan Portfolio Slides 23 Liquidity Overview 27 Securities Portfolio 28 Summary Income Statements 29 Summary Balance Sheets 30 Non-GAAP Reconciliations 31
Slide 4: West-Focused Regional Powerhouse
West-Focused Regional Powerhouse 4 Completed Western Footprint(3) Why Columbia? ■ Business Bank of Choice strategy cultivates a granular, low-cost core deposit base ■ Compelling culture and Community Banking at Scale business model foster deep community ties while also attracting and retaining top b
Slide 5: Operating in Large, Attractive Western Markets
Operating in Large, Attractive Western Markets 5 Established Presence throughout the West(1) Northwest (population by market) Seattle, WA Portland, OR California and Nevada Los Angeles, CA Sacramento, CA Other West Phoenix, AZ Denver, CO 4.2mm 2.5mm 12.9mm 2.5mm 5.3mm 3.1mm Top Regional Bank in Nort
Slide 6: Opportunity to Increase Density and Gain Share throughout Our Footprint
Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Seattle 4,201 $143,050 $10,521 7.4 % Portland 2,547 65,428 5,396 8.3 % Boise 868 19,360 259 1.3 % Spokane 608 10,906 519 4.8 % Opportunity to Increase Density and Gain Share throughout Our Footprint 6 Improve Competitive Position in Ca
Slide 7: Leveraging Technology to Improve Collaboration and Performance
Leveraging Technology to Improve Collaboration and Performance 7 Enhancing the Customer Experience Driving Revenue GenerationCreating Operational Efficiencies ■ Building upon our best-in-class API market- place to expand our embedded banking capabilities and enabling commercial and business clients
Slide 8: Third Quarter 2026
Third Quarter 2026 8
Slide 9: YTD 2026 Performance Highlights
YTD 2026 Performance Highlights 9 ■ We continue to focus on operational enhancements, including optimizing our balance sheet, growing sustainable core fee income, and maintaining our cost-conscious culture and disciplined credit standards, in pursuit of consistent, repeatable returns and top-quartil
Slide 10: Third Quarter 2026 Performance Highlights
Third Quarter 2026 Performance Highlights 10 ■ During the third quarter, we opened two depository locations in Utah: a branch in Draper and a financial hub in Pleasant Grove. These openings support our continued organic expansion in key markets, while the closure of four branches reflects our ongoin
Slide 11: Net Income and Earnings-per-Share
Net Income and Earnings-per-Share 11 $ in m ill io ns Net Income $96 $215 $192 $208 $220 $204 $243 $209 $217 $229 GAAP Net Income Operating Net Income¹ Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ■ Columbia reported net income and EPS of $220 million and $0.78, respectively, for Q3 2026. On an operating
Slide 12: Key Earnings Drivers: Balance Sheet
Key Earnings Drivers: Balance Sheet (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (2) Regulatory capital ratios are estimates pending completion and filing of Columbia’s regulatory reports. % Change ($ in m
Slide 13: Net Interest Income and Net Interest Margin
Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin $505 $627 $594 $589 $615 3.84% 4.06% 3.96% 3.93% 4.11% Net Interest Income ($ in millions) Net Interest Margin Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Net Interest Margin: Q2 2026 vs Q3 2026 3.93% 0.03% 0.03% 0.0
Slide 14: Select Asset and Liability Maturity and Repricing Schedules
Select Asset and Liability Maturity and Repricing Schedules (in Months) at September 30, 2026 ($ in millions) <=3 4 to 6 7 to 12 13 to 24 25 to 36 >36 Total % Total(3) Loans Fixed (maturity)(2) $495 $238 $492 $843 $1,254 $11,396 $14,718 31% Floating (repricing)(2) 16,458 — — — — — 16,458 35% Adjusta
Slide 15: Non-Interest Income
Non-Interest Income 15 $ in m ill io ns Total Non-Interest Income $77 $90 $83 $88 $80 $72 $88 $81 $91 $87 GAAP Non-Interest Income Operating Non-Interest Income¹ Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ■ Non-interest income for Q3 2026 decreased $8 million from the prior quarter. Operating non-inter
Slide 16: Non-Interest Expense
Non-Interest Expense 16 $ in m ill io ns Non-Interest Expense ("NIE") $393 $412 $394 $375 $370 $307 $373 $369 $366 $365 GAAP Non-Interest Expense Operating Non-Interest Expense¹ Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 ■ Non-interest expense for Q3 2026 decreased $5 million from the prior quarter, du
Slide 17: Continued Strong Credit Quality
Continued Strong Credit Quality Provision Expense, Net Charge-Offs to Average Loans, and Nonperforming Assets to Total Assets $— $23 $28 $27 $33 $70 0.22% 0.25% 0.30% 0.25% 0.24% 0.29% 0.30% 0.40% 0.42% 0.39% Provision Expense ($mm) Acquisition-Related Provision Expense ($mm)¹ Net Charge-Offs / Aver
Slide 18: ACL Reflects Strong Portfolio Credit Metrics
ACL Reflects Strong Portfolio Credit Metrics (1) Total includes reserve for unfunded commitments of $18 million and $17 million as of September 30, 2026 and June 30, 2026, respectively. 18 ■ Our reserve coverage by loan segment and for the overall loan and lease portfolio reflects our robust underwr
Slide 19: Capital Management
Capital Management 19 Regulatory Capital Ratios: Bank & Holding Company as of September 30, 2026 9.7% 12.0% 12.0% 13.4% 9.3% 11.5% 11.5% 13.8% Columbia Bank Columbia Banking System Tier 1 Leverage CET1 Tier 1 Capital Total Risk-Based —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% ■ Columbia remains above
Slide 20: Diversified, High Quality Loan and Lease Portfolio
Diversified, High Quality Loan and Lease Portfolio $47,166 $1,232 ($94) ($972) ($417) $46,915 6/30/2026 Balance New Orig. Net Advances/ (Payments) Prepays/ Payoffs Other 9/30/2026 Balance 20 Mortgage, 11% FinPac, 3% C&I, 24% Owner Occupied CRE, 16% Non-OO CRE, 16% Multifamily, 21% Other Loan Categor
Slide 21: Diversified Commercial Bank Model Supports Granular, High-Quality Deposit Base
Our Diversified Commercial Bank Business Model with a Strong Retail Network Supports our Granular, High-Quality Deposit Base Non-interest, 33% Demand, 22% Money Market, 32% Savings, 5% Time, 8% Deposit Composition 21 ■ Deposits were $52.7 billion as of September 30, 2026 and represented by a granula
Slide 22: Appendix
Appendix 22 Page Loan Portfolio Slides 23 Liquidity Overview 27 Securities Portfolio 28 Summary Income Statements 29 Summary Balance Sheets 30 Non-GAAP Reconciliations 31
Slide 23: Granular Loan and Lease Portfolios with Strong Underlying Fundamentals
Granular Loan and Lease Portfolios with Strong Underlying Fundamentals Note: Portfolio statistics and delinquencies as of September 30, 2026. Annualized net charge-off rates for Q3 2026. Loan-to-value (“LTV”), FICO, and debt service coverage (“DSC”) ratios are based on weighted averages for portfoli
Slide 24: C&I and CRE Portfolio Composition
C&I and CRE Portfolio Composition Agriculture, 8.2% Contractors, 7.7% Finance/ Insurance, 9.5% Manufacturing, 7.5% Professional, 4.0% Public Admin, 5.5% Rental & Leasing, 5.9% Retail, 3.6% Support Services, 4.0% Transportation/ Warehousing, 6.9% Wholesale, 7.3% Gaming, 7.2% Dentists, 4.7% Other Heal
Slide 25: Balance Sheet Optimization: Below-Market-Rate Transactional Loans
Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off 25 Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of September 30, 2026 June 30, 2026 < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total ($ in millions) Balance Rate Balance Rate Bala
Slide 26: Office Portfolio Details
Office Portfolio Details Puget Sound, 14% WA Other, 4% Portland Metro, 11% OR Other, 14% Bay Area, 4% N. CA, 7% S. CA, 31% Other, 15% Office Portfolio Metrics at September 30, 2026 Average loan size $1.4 million Average LTV 57% DSC (non-owner occupied) 1.73x % with guaranty (by $ / by #) 87% / 87% P
Slide 27: Liquidity Overview
Liquidity Overview Total Available Liquidity at September 30, 2026 ($ in millions) Total off-balance sheet liquidity (available lines of credit): $19,609 Cash and equivalents, less reserve requirement 1,461 Excess collateral 4,955 Total available liquidity $26,025 TOTAL AVAILABLE LIQUIDITY AS A PERC
Slide 28: Available-for-Sale Securities Portfolio
Available-for-Sale Securities Portfolio as of September 30, 2026 ($ in millions) Current Par Amortized Cost Unrealized Gains Unrealized Losses Fair Value % of Total AFS Portfolio Effective Duration Book Yield U.S. Treasuries $230 $229 $0 ($3) $226 2 % 1.6 3.90 % U.S. Agencies 954 963 $0 ($53) $910 8
Slide 29: Summary Income Statements
Summary Income Statements Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. For the Quarter Ended ($ in millions, except per-share data) Q3 2026 Q2 2026 Q1 2026 Q4 2025 Q3
Slide 30: Summary Period-End Balance Sheets
Summary Period-End Balance Sheets Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. (2) Wholesale funding sources include public deposits - wholesale, brokered deposit
Slide 31: Non-GAAP Reconciliation: Tangible Capital
Non-GAAP Reconciliation: Tangible Capital ($ in millions, except per-share data) 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 Total shareholders' equity a $7,079 $7,552 $7,664 $7,840 $7,790 Less: Goodwill 1,482 1,482 1,482 1,482 1,481 Less: Other intangible assets, net 595 633 671 712 754 Tang
Slide 32: Non-GAAP Reconciliation: Adjustments and Average Balances
Non-GAAP Reconciliation: Adjustments and Average Balances For the Quarter Ended For the Nine Months Ended ($ in millions, except share data) 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Non-Interest Income Adjustments Gain on investment securities, net ($8) ($1) $— $2 $2 ($
Slide 33: Non-GAAP Reconciliation: Income Statements
Non-GAAP Reconciliation: Income Statements For the Quarter Ended For the Nine Months Ended ($ in millions) 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Net interest income c $615 $589 $594 $627 $505 $1,798 $1,376 Non-interest income (GAAP) d $80 $88 $83 $90 $77 $251 $208 Le
Slide 34: Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics
Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics For the Quarter Ended For the Nine Months Ended ($ in millions, except per-share data) 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Select Per-Share & Performance Metrics Earnings per share - basic j/r $0.7
Slide 35: Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted
Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted 35 For the Quarter Ended For the Nine Months Ended ($ in millions) 9/30/2026 6/30/2026 3/31/2026 12/31/2025 9/30/2025 9/30/2026 9/30/2025 Non-interest expense (GAAP) h $370 $375 $394 $412 $393 $1,139 $1,011 Less: Non-interest expense a
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