Why Columbia Banking System Stock Plunged Today

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 ...