Columbia Banking System targets Q4 2024 core expense run rate of $965M-$985M; provides operational update

COLUMBIA BANKING SYSTEM, INC.

Q4 2024 core expense run rate target $965M-$985M annualized (excludes CDI amortization and non-operating items).
Q4 2023 operating PPNR $212M; operating ROA 0.89%; tangible book value $16.12 per share (up 13% QoQ).
Deposit cost 1.63% in Q4 2023 (top quartile of peers); non-interest deposits 34% of total; uninsured deposits 33%.
Available liquidity $18.7B (138% of uninsured deposits); loan-to-deposit ratio 90%; CET1 ratio 9.6%.
Near-term actions include branch consolidation, deposit rate management, and FinPac cost rationalization.

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