secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0000887343-23-000304
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000304/0000887343-23-000304-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734323000304/colb-20231018.htm
  HTML page:      https://secwatch.observer/filing/0000887343-23-000304

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