secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2024-07-25T23:59:59+00:00
Accession:  0000887343-24-000242
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Columbia Banking Q2 net income $120M reported, $140M operating; EPS $0.57/$0.67
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- Q2 2024 reported net income $120M ($0.57 diluted EPS); operating net income $140M ($0.67).
- Pre-provision net revenue (operating) $219M; ROA (operating) 1.08%, ROTCE (operating) 16.96%.
- Deposits $42B; CET1 ratio 9.9%; net charge-off rate 0.30% annualized; provision expense $31.8M.
- Expects Q4 2024 core expense run rate $965M-$985M annualized; 91% of cost savings realized by June 30.
- Launched targeted small business deposit campaigns; opened first retail location in Phoenix, AZ.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000242/0000887343-24-000242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000242/colb-20240725.htm
  HTML page:      https://secwatch.observer/filing/0000887343-24-000242

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