Columbia Banking Q4 net income $93.5M, EPS $0.45; NIM contracts to 3.78%

COLUMBIA BANKING SYSTEM, INC.

2023-FY EPS reported $1.78 revenue$134,259,000

GAAP EPS $0.45, operating EPS $0.44; net income $93.5M, down from $135.8M in Q3 2023.
Net interest margin 3.78%, down 13 bps QoQ as deposit costs rose; cost of deposits increased 53 bps to 2.54%.
Non-interest expense included $33M FDIC special assessment ($0.12 per share); efficiency ratio 64.81%.
Loans grew $271M (3% annualized); deposits flat; book value per share rose 8% to $23.95.
Annualized cost synergies from Umpqua merger reached $143M, exceeding $135M target by 6%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.7

COLUMBIA BANKING SYSTEM, INC. reported financial results for fourth quarter and full year 2023.

Period: fourth quarter and full year 2023
Result: reported results

Exact text from the filing

Columbia Banking System, Inc. issued a press release announcing fourth quarter and full year 2023 financial results.

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Source: SEC EDGAR

accession 0000887343-24-000024

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