secwatch.observer — SEC 8-K summary
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Issuer:     COLUMBIA BANKING SYSTEM, INC. (COLB)
CIK:        0000887343
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000887343-24-000256
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Columbia Banking Q3 net income $146M, EPS $0.70; announces $70M net cost savings
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- Q3 2024 GAAP net income $146M ($0.70 diluted EPS); operating net income $143M ($0.69).
- YTD 2024 GAAP net income $390M ($1.87 EPS); operating net income $418M ($2.00).
- Completed cost review; identified $82M gross savings ($70M net). Q4 2024 core expense run rate expected $965M–$985M annualized.
- Q3 net charge-offs 0.32% annualized; provision $28.8M. ACL $438M (1.17% of loans) plus $65M credit discount.
- Total risk-based capital ratio 12.5%, CET1 10.3% as of Sep 30, 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000256/0000887343-24-000256-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/887343/000088734324000256/colb-20241024.htm
  HTML page:      https://secwatch.observer/filing/0000887343-24-000256

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