Columbia Banking Q3 net income $135.8M, EPS $0.65; cost synergies exceed target

COLUMBIA BANKING SYSTEM, INC.

2023-Q3 EPS reported $1.33

GAAP net income of $135.8M ($0.65 diluted EPS) vs Q2 net income of $133.4M ($0.64).
Operating net income $164.3M ($0.79 diluted EPS); operating ROTCE 20.48%.
Net interest margin 3.91%, down 2 bps from Q2 on higher funding costs.
Total deposits $41.6B, up from $40.8B in Q2; loan growth $121M (excluding $159M mortgage sale).
Annualized cost synergies reached $140M, exceeding original $135M target; non-interest expense down $24M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COLUMBIA BANKING SYSTEM, INC. reported financial results for third quarter 2023.

Period: third quarter 2023
Result: reported results

Exact text from the filing

On October 18, 2023, Columbia Banking System, Inc. issued a press release announcing third quarter 2023 financial results.

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COLUMBIA BANKING SYSTEM, INC. filing history →

Source: SEC EDGAR

accession 0000887343-23-000304

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