Financial Data and Key Metrics Changes - The company reported Q3 EPS of $0.70 and operating EPS of $0.69 per share, with an operating return on tangible equity of 16% and operating PPNR of $221 million [10] - Total deposits remained flat, with a seasonal increase in noninterest-bearing DDA and strong growth in interest-bearing deposits, leading to a 20% reduction in brokered deposits [10][11] - Tangible book value per share increased by 10% to $17.81, driven by a 50% reduction in accumulated other comprehensive loss [11] Business Line Data and Key Metrics Changes - Customer deposit balances increased by $602 million, reflecting successful small business campaigns and a 20% reduction in brokered deposits [20] - Loan balances declined by $207 million, primarily due to a strategic reduction in transactional real estate loans [21] - Core fee income pipelines expanded, with treasury management and commercial card income increasing by 12% and 19% year-to-date, respectively [22] Market Data and Key Metrics Changes - The company successfully entered and grew in newer markets such as Arizona, Colorado, and Utah, while also enhancing its presence in established regions [6][7] - The company opened its second retail branch in Arizona and plans to open a third location, indicating ongoing market expansion efforts [7] Company Strategy and Development Direction - The company aims to regain long-term top quartile performance by focusing on operational efficiency and reducing costs, achieving $270 million in gross expense reductions to date [3][4] - There is a commitment to relationship banking, with a focus on balanced growth with new and existing customers while reducing exposure to transactional loans [8] - The company is actively evaluating opportunities for organic growth and potential M&A, with a focus on maximizing performance from existing operations [32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's future, emphasizing the focus on driving balanced growth and regaining top performance [8] - The company expects continued reductions in interest-bearing deposit costs and a stable net interest margin, despite the challenges posed by the current economic environment [12][13] - Management highlighted the importance of maintaining a cost-conscious culture while supporting reinvestments for future growth [5] Other Important Information - The company reported a provision for credit loss of $29 million for the quarter, with a robust overall allowance for credit loss at 1.17% of total loans [13] - Total GAAP expense for the quarter was $271 million, with operating expenses reflecting continued efficiency initiatives [14] Q&A Session Summary Question: Core margin and near-term thoughts on core NIM - Management indicated that normalized deposit flows will be key to NIM performance, with expectations for stability in the fourth quarter [25] Question: Adjusted expense annualized run rate - Management expressed confidence in hitting the low end of the expense range for Q4, with expectations for continued reinvestments [26] Question: Potential for stock buyback - Management is actively evaluating capital return options, including stock buybacks, but emphasized the importance of maintaining regulatory capital levels [27] Question: Small business campaigns and their targeting - Management confirmed that small business campaigns have been broad-based across all markets, contributing to high retention rates [29] Question: Loan yield repricing dynamics - Management discussed the stability of the loan pipeline and the potential for continued growth in relationship-driven commercial loans [33] Question: Credit quality and normalization of FinPac - Management reported improvements in credit quality, with expectations for further normalization in the FinPac portfolio [46][47] Question: Securities accretion and prepayment trends - Management indicated that prepayment levels are expected to stabilize, with no significant increases anticipated unless market conditions change [50] Question: Cycle-to-date beta and funding dynamics - Management expects that deposit beta will mirror previous cycles, with ongoing adjustments based on market conditions [53]

EXHIBIT 99.1 | --- | --- | --- | --- | |---------------------------|-------------------------------------------|--------------------------------------------------------|------------------------------------------------| | COLUMBIA \n$146 million | BANKING SYSTEM, INC. \n$143 million | REPORTS THIRD QUARTER \n$0.70 | 2024 RESULTS \n$0.69 | | Net income | 1 | Operating net income Earnings per diluted common share | Operating earnings per diluted common share 1 | CEO Commentary "Our third quarter results reflec ...

Columbia Banking (COLB) reported $496.38 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 5.4%. EPS of $0.69 for the same period compares to $0.79 a year ago.The reported revenue represents a surprise of +3.67% over the Zacks Consensus Estimate of $478.8 million. With the consensus EPS estimate being $0.61, the EPS surprise was +13.11%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Columbia Banking (COLB) came out with quarterly earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.61 per share. This compares to earnings of $0.79 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 13.11%. A quarter ago, it was expected that this bank holding company would post earnings of $0.57 per share when it actually produced earnings of $0.67, delivering a surprise of 17.54%.Over the last four quarters ...

The upcoming report from Columbia Banking (COLB) is expected to reveal quarterly earnings of $0.61 per share, indicating a decline of 22.8% compared to the year-ago period. Analysts forecast revenues of $478.8 million, representing a decrease of 8.8% year over year.The consensus EPS estimate for the quarter has been revised 1% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.Ahead ...

During times of turbulence and uncertainty in the markets, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yie ...

The price-to-earnings (P/E) ratio is broadly considered the yardstick for evaluating the fair market value of a stock. It is preferred by many investors while handpicking stocks trading at attractive prices. However, even this universally used valuation multiple is not without its limitations. Although P/E is by far the most popular equity valuation ratio, a more complicated metric called EV-toEBITDA does a better job of valuing a firm. Often viewed as a better substitute to P/E, this ratio offers a clearer ...

Here at Zacks, we focus on our proven ranking system, which places an emphasis on earnings estimates and estimate revisions, to find winning stocks. But we also understand that investors develop their own strategies, so we are constantly looking at the latest trends in value, growth, and momentum to find strong companies for our readers. Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use a variety of methods, including tried-a ...

TACOMA, Wash., Sept. 30, 2024 /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB), parent company of Umpqua Bank, today announced it will release third quarter 2024 financial results on Thursday, October 24, 2024, before market open. The Company will host a conference call for investors and analysts at 8:30 a.m. PT (11:30 a.m. ET) that same day. During the call, management will discuss Columbia's third quarter 2024 financial results and provide an update on recent activities. There will b ...

Columbia Banking System, Inc.'s (COLB) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024. This expansion will support the bank's plan to improve its services across Arizona to cater to the needs of customers. COLB's Subsidiary Strengthens Presence in Arizona Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers ...