secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0000887343-23-000291
Event type: earnings
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Columbia Banking Q2 net income $133M; adjusted EPS $0.81; NIM and FY guidance lowered
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000291/0000887343-23-000291-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000291/colb-20230719.htm
  HTML page:      https://secwatch.observer/filing/0000887343-23-000291

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