Core Insights - Columbia Banking (COLB) reported $717 million in revenue for Q4 2025, marking a year-over-year increase of 47.2% and exceeding the Zacks Consensus Estimate by 3.3% [1] - The earnings per share (EPS) for the same quarter was $0.82, up from $0.71 a year ago, representing a surprise of 13.89% over the consensus estimate of $0.72 [1] Financial Performance Metrics - Net charge-offs to average loans and leases were 0.3%, matching the three-analyst average estimate [4] - Average balance of total interest-earning assets was $61.68 billion, slightly below the $61.73 billion average estimate [4] - Efficiency ratio stood at 57.3%, higher than the 51.9% average estimate [4] - Net interest margin was reported at 4.1%, exceeding the 3.7% average estimate [4] - Total non-performing loans and leases amounted to $198 million, better than the two-analyst average estimate of $209.76 million [4] - Total non-performing assets were $200 million, also better than the two-analyst average estimate of $212.79 million [4] - Net interest income reached $627 million, surpassing the $609.28 million average estimate [4] - Total noninterest income was $90 million, exceeding the $87.58 million average estimate [4] - Service charges on deposits were $24 million, above the $22.62 million average estimate [4] - Net interest income (FTE) was $629 million, compared to the $611.61 million average estimate [4] - Financial services and trust revenue was $15 million, higher than the $12.12 million average estimate [4] Stock Performance - Columbia Banking shares returned +3.8% over the past month, outperforming the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Financial Performance Highlights - The company's reported net income for the second quarter of 2025 was $152 million, with an operating net income of $160 million[42] - Pre-Provision Net Revenue (PPNR) for Q2 2025 was $233 million (reported) and $242 million (operating)[42] - The company's Return on Assets (ROA) was 1.19% (reported) and 1.25% (operating) for Q2 2025[42] - The Return on Tangible Common Equity was 16.03% (reported) and 16.85% (operating) for Q2 2025[42] - Net interest margin increased 15 basis points from the prior quarter to 3.75% for Q2 2025[88] Balance Sheet and Loan Portfolio - Total assets were $52 billion, loans were $38 billion, and deposits were $42 billion as of June 30, 2025[9] - Deposits were $42 billion as of June 30, 2025, with an average customer account balance of $36 thousand[46] - The total available-for-sale (AFS) securities portfolio had a book yield of 3.70% and an effective duration of 5.0 as of June 30, 2025[51] - Loans secured by office properties represented 8% of the total loan portfolio as of June 30, 2025[74] Acquisition of Pacific Premier Bancorp - The acquisition of Pacific Premier Bancorp is expected to close as early as September 1, 2025, creating a company with ~$70 billion in assets[31] - Pacific Premier stockholders will receive 0.9150 of a Columbia share for each Pacific Premier share in a 100% common stock transaction[31] - The acquisition is expected to be 14% accretive to 2026E EPS[31]