earnings
confidence high
sentiment neutral
materiality 0.85
Columbia Banking Q2 net income $133M; adjusted EPS $0.81; NIM and FY guidance lowered
COLUMBIA BANKING SYSTEM, INC.
2023-Q2 EPS reported
$0.65
- GAAP diluted EPS $0.64 vs ($0.09) in Q1; operating EPS $0.81.
- Net interest margin (GAAP) 3.93%, down 15bp QoQ; adjusted NIM 3.32%, down 41bp.
- FY2023 adjusted NIM guidance cut to 3.20-3.40% from 3.55-3.65%.
- Cost synergies of $105M annualized realized; on track for $135M+ by Q3.
- Deposits declined $751M QoQ to $40.8B; loans flat excluding $373M sale.