COLB

EX-99.1

2 colb-20260930ex991earnings.htm

PRESS RELEASE ANNOUNCING THIRD QUARTER 2026 FINANCIAL RESULTS

Document

EXHIBIT 99.1

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COLUMBIA BANKING SYSTEM, INC. REPORTS THIRD QUARTER 2026 RESULTS

$220 million$229 million$0.78$0.82

Net incomeOperating net income1Earnings per common share - diluted Operating earnings per common share - diluted1

0

CEO Commentary

"Our third quarter performance demonstrates the benefits of consistent execution and active balance sheet management," said Clint Stein, Chairman, CEO & President. "By remaining focused on relationship-driven growth, prudent loan and deposit pricing, and operational discipline, we continued to improve our profitability while maintaining strong credit quality and returning excess capital. Over the past year, we returned over $1 billion to our shareholders through dividends and share repurchases, completing our existing buyback authorization in the process. Our Board of Directors has authorized a new $1.2 billion share repurchase program, reflecting confidence in our long-term strategy and our outlook for continued excess capital generation. We remain focused on growing our franchise in ways that strengthen customer relationships, enhance the quality of our balance sheet, and support attractive long-term returns for our shareholders."

Clint Stein, Chairman, CEO & President of Columbia Banking System, Inc.

3Q26 HIGHLIGHTS (COMPARED TO 2Q26)

Net Interest Income and NIM •Net interest income increased by $26 million from the prior quarter, due to higher income on loans and investment securities and lower funding costs.

•Net interest margin was 4.11%, up 18 basis points from the prior quarter, due to higher yields on loans and investment securities and a favorable funding mix shift, as growth in customer deposits was used to pay down wholesale funding sources.

Non-Interest Income and Expense

•Non-interest income decreased by $8 million. Excluding the impact of fair value and hedges,1 non-interest income decreased by $4 million, due primarily to $3 million of death benefit proceeds recorded during the second quarter related to a single policy that did not recur in the third quarter.

•Non-interest expense decreased by $5 million, due to lower merger expense.

Credit Quality •Net charge-offs were 0.24% of average loans and leases (annualized), compared to 0.25% for the prior quarter.

•Provision expense was $33 million, compared to $27 million for the prior quarter.

•Non-performing assets to total assets ratio was 0.39%, compared to 0.42% as of June 30, 2026.

Capital •Estimated total risk-based capital ratio of 13.8% and estimated common equity tier 1 risk-based capital ratio of 11.5%.

•Declared a quarterly cash dividend of $0.37 per common share on August 14, 2026, which was paid September 14, 2026.

•Repurchased $199 million of common stock, completing our previously announced repurchase plan.

Notable Items •Our second customer deposit campaign of 2026, which began in June and ended in mid-August, brought over $700 million in new deposits to the bank.

•Our Board of Directors authorized the repurchase of up to $1.2 billion of common stock under a new repurchase plan, which has no expiration date.

3Q26 KEY FINANCIAL DATA

PERFORMANCE METRICS

3Q26

2Q26

3Q25

Return on average assets1.34%1.27%0.67%

Return on average common equity11.78%10.99%6.19%

Return on average tangible common equity1 16.43%15.29%8.58%

Operating return on average assets1 1.40%1.33%1.42%

Operating return on average common equity1 12.27%11.46%13.15%

Operating return on average tangible common equity1 17.11%15.95%18.24%

Net interest margin4.11%3.93%3.84%

Efficiency ratio53.08%55.15%67.29%

Operating efficiency ratio, as adjusted 1 51.34%52.92%52.32%

INCOME STATEMENT

($ in millions, excl. per share data)

3Q26

2Q26

3Q25

Net interest income$615$589$505

Provision for credit losses$33$27$70

Non-interest income$80$88$77

Non-interest expense$370$375$393

Pre-provision net revenue1

$325$302$189

Operating pre-provision net revenue1

$337$314$270

Earnings per common share - diluted $0.78$0.73$0.40

Operating earnings per common share - diluted1

$0.82$0.76$0.85

Dividends paid per share$0.37$0.37$0.36

BALANCE SHEET

($ in millions, excl. per share data)

3Q26

2Q26

3Q25

Total assets$65,135 $65,380 $67,496

Loans and leases$46,915 $47,166 $48,462

Deposits$52,740 $52,056 $55,771

Book value per common share$25.62$26.70$26.04

Tangible book value per common share1 $18.10$19.22$18.57

Investor Contact

Jacquelynne "Jacque" Bohlen, SVP/Director of Investor Relations, 503-727-4100, jacquebohlen@columbiabank.com

1 "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

Columbia Banking System, Inc. Reports Third Quarter 2026 Results

October 22, 2026

Page 2

Organizational Update

During the third quarter, Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") opened two depository locations in Utah: a branch in Dra

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