COLUMBIA BANKING SYSTEM, INC. REPORTS FOURTH QUARTER 2024 RESULTS

1. Columbia's Q4 2024 net income was $143 million, reflecting a strong performance. 2. Net interest margin increased to 3.64%, supported by reduced deposit costs. 3. Commercial loan growth was 3% for 2024, showing solid demand. 4. Non-interest income declined by $16 million from the prior quarter. 5. The company has plans to open five new branches in strategic markets.

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Why Bullish?

Columbia's strong financial performance and strategic expansion generally support stock price growth.

How important is it?

The article discusses Columbia's earnings and financial strategies, which are crucial for investors.

Why Long Term?

Sustained loan growth and branch expansion strategies suggest long-term profitability increases.

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Columbia Banking System Announces 4Q24 Results

TACOMA, Wash., Jan. 23, 2025 /PRNewswire/ --

Key Financials

Net income: $143 million
Operating net income: $150 million 1
Earnings per diluted common share: $0.68
Operating earnings per diluted common share: $0.71 1

CEO Commentary

"Our fourth quarter and 2024 results reflect significant strides toward top-quartile performance," said Clint Stein, President and CEO. "Our optimized expense base, improved pricing strategies, and targeted franchise investments have not only strengthened our financial position but also supported our commitment to deliver exceptional value to our customers and shareholders alike."

– Clint Stein, President and CEO of Columbia Banking System, Inc.

4Q24 Highlights (Compared to 3Q24)

Net Interest Income and NIM

Net interest income increased by $7 million from the prior quarter.
Net interest margin was 3.64%, up 8 basis points from the prior quarter.

Non-Interest Income and Expense

Non-interest income decreased by $16 million.
Non-interest expense decreased by $5 million.

Credit Quality

Net charge-offs were 0.27% of average loans and leases.
Provision expense of $28 million compares to $29 million in the prior quarter.

Capital

Estimated total risk-based capital ratio of 12.6%.
Declared a quarterly cash dividend of $0.36 per common share.

Notable Items

Executed three successful small business campaigns in 2024.
Plans include the opening of five additional locations in strategic growth markets.

4Q24 Key Financial Data

Metric	4Q24	3Q24	4Q23
Return on average assets	1.10%	1.12%	0.72%
Net interest income	$437,373	$430,218	$453,623