Columbia Banking Q3 profit rises
COLB•Columbia Banking System reported higher year-over-year Q3 net income and EPS, with EPS of $0.78, net interest income of $615 million and a 4.11% net interest margin. It authorized a new $1.2 billion share repurchase program with no expiration date.
1. Quarterly results
Columbia Banking System said Q3 net income and EPS rose year over year, while net interest income increased from Q2. Q3 EPS was $0.78, net interest income was $615 million and net interest margin was 4.11%.
2. Buyback and outlook
The company completed its prior share repurchase plan and authorized a new $1.2 billion program with no expiration date. It expects to redeem about $240 million in junior subordinated debentures in Q4 2026 and early 2027, and said competitive pricing pressure and elevated payoffs may continue to affect loan growth.
3. Profit drivers
The company attributed improved profitability to balance sheet management and relationship-driven growth. Net interest income rose on higher income from loans and investment securities and lower funding costs; deposits increased with seasonal customer balances and new customer acquisition, while non-interest expense fell due to lower merger expense.
