secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2024-01-24T23:59:59+00:00
Accession:  0000887343-24-000024
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000024/0000887343-24-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000024/colb-20240124.htm
  HTML page:      https://secwatch.observer/filing/0000887343-24-000024

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