Columbia Banking System, Inc. (NASDAQ:COLB) Q1 2024 Earnings Conference Call April 25, 2024 5:00 PM ET Company Participants Clint Stein - President and Chief Executive Officer Ron Farnsworth - Chief Financial Officer Frank Namdar - Chief Credit Officer Tory Nixon - President, Umpqua Bank Chris Merrywell - President, Umpqua Bank Conference Call Participants David Feaster - Raymond James Jared Shaw - Barclays Jeff Rulis - D.A. Davidson Ben Gerlinger - Citi Timur Braziler - Wells Fargo Brandon King - Truist An ...

Columbia Banking (COLB) reported $473.72 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 10.3%. EPS of $0.65 for the same period compares to $0.46 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $478.44 million, representing a surprise of -0.99%. The company delivered an EPS surprise of +22.64%, with the consensus EPS estimate being $0.53.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "n/m." 0 CEO Commentary "Our first quarter results reflect early progress on our targeted actions to improve our financial performance and drive shareholder value," said Clint Stein, President and CEO. "Enterprise-wide evaluations and targeted changes resulted in tighter expense control and stabilizing deposit costs in the latter part of the quarter. We will continue to exercise prudent expense management, and we ...

LAKE OSWEGO, Ore., April 8, 2024 /PRNewswire/ -- Umpqua Bank, a subsidiary of Columbia Banking System Inc., (Nasdaq: COLB) has been named to Newsweek's list of Most Trustworthy Companies in America for the second year in a row, ranking ninth in the bank category for 2024. The award, presented and announced on March 27th by Newsweek and industry ranking provider Statista Inc., is based on a comprehensive evaluation of customer, investor and employee trust. "We strive every day to build a culture that support ...

TACOMA, Wash., April 1, 2024 /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB), parent company of Umpqua Bank, today announced it will release first quarter 2024 financial results on Thursday, April 25, 2024, after market close. The Company will host a conference call for investors and analysts at 2:00 p.m. PT (5:00 p.m. ET) that same day. During the call, management will discuss Columbia's first quarter 2024 financial results and provide an update on recent activities. There will be a ...

TACOMA, Wash., Feb. 27, 2024 /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"Nasdaq: COLB) President and CEO Clint Stein is scheduled to present at the Raymond James & Associates 45th Annual Institutional Investors Conference on Tuesday, March 5, 2024, at 9:15 a.m. ET. Mr. Stein is also scheduled to present at the RBC Capital Markets Global Financial Institutions Conference on Wednesday, March 6, 2024, at 4:40 p.m. ET. An audiocast and replay of each event, which may contain forward-looking stateme ...

Retirement follows successful integration and systems conversion of Northwest's two premier banks LAKE OSWEGO, Ore., Feb. 26, 2024 /PRNewswire/ -- Umpqua Bank, a subsidiary of Columbia Banking System Inc. (Nasdaq: COLB), today announced the retirement of Eric Eid, Chief Integration Officer, effective April 1, 2024. Eid's retirement follows the recent closing of the bank's Integration Management Office, a division he co-led in support of the merger between Columbia Bank and Umpqua Bank. Eid Joined Columbia B ...

The Volcker Rule The Dodd-Frank Act prohibits banks and their affiliates from engaging in proprietary trading and investing in and sponsoring hedge funds and private equity funds. The statutory provision is commonly called the "Volcker Rule." The Volcker Rule does not significantly impact the operations of the Company and the Bank, as we do not have any significant engagement in the businesses prohibited by the Volcker Rule. 21 Table of Contents Interchange Fees The Company is subject to rules governing int ...

TACOMA, Wash., Feb. 9, 2024 /PRNewswire/ -- Columbia Banking System, Inc. ("Columbia"  Nasdaq: COLB), parent company of Umpqua Bank, today announced its Board of Directors has approved a quarterly cash dividend in the amount of $0.36 per common share, payable March 11, 2024, to shareholders of record as of February 23, 2024. "The fundamental strength of our franchise has enabled us to pay a steady dividend to our shareholders while continuing to increase our capital ratios," commented Clint Stein, President ...

Shares of Columbia Banking System (COLB -21.14%) fell 21% on Thursday after the parent company of Umpqua Bank on Wednesday delivered disappointing fourth-quarter 2023 results relative to Wall Street's expectations.On Columbia Banking's profit headwindsOn the bottom line, Columbia Banking's fourth-quarter operating earnings declined 43% year over year, to $0.44 per share, arriving significantly below consensus estimates for $0.79.Columbia Banking CEO Clint Stein called it a "noisy" quarter, as lower expenses ...