secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2023-04-26T23:59:59+00:00
Accession:  0000887343-23-000214
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Columbia Banking posts $14M net loss in Q1, operating EPS $0.46; Umpqua merger closed
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- Net loss of $14M ($0.09 per share); operating net income of $72M ($0.46 per share).
- Completed merger with Umpqua Holdings on Feb 28, core systems conversion on Mar 20.
- Total assets $54.0B, loans $37.1B, deposits $41.6B; NIM 4.08% vs 4.01% prior qtr.
- Provision for credit losses $105.5M includes $88M initial provision for non-PCD loans.
- Merger-related expenses $116M; cost-savings target of $135M on track for end of Q3 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000214/0000887343-23-000214-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000214/colb-20230426.htm
  HTML page:      https://secwatch.observer/filing/0000887343-23-000214

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer