Columbia Banking System Inc

Columbia Bank announced the opening of a new commercial office and retail branch in Draper, Utah, marking the first of three new branches set to open in the Salt Lake City Metropolitan Area in 2026. The Draper location, situated 20 miles outside Salt Lake City, combines commercial and retail banking services in a 14,000 square foot facility along Utah's Silicon Slopes tech corridor. Columbia has steadily expanded its Utah presence since entering the market in 2022, and the Draper branch will be followed by additional locations in Pleasant Grove and the Sugar House neighborhood of Salt Lake City. The bank also recently expanded its market capabilities with the addition of a Salt Lake City-based commercial real estate group led by Steve Strong and David Griffin. Matt Quinney serves as Retail Branch Manager, previously leading Columbia's South Jordan branch, which was transitioned to the enhanced Draper location last month.

Columbia Banking System reported second-quarter revenue of $677 million, a 32.5% increase from $511 million a year earlier. Net income totaled $208 million, or $0.73 per share, compared with $152 million, or $0.73 per share, in the same period last year.

Columbia Banking System anticipates its net interest margin will move beyond 4% this year, while planning $150 million to $200 million in share repurchases for the third quarter. CEO Clint Stein said the company exceeded cost-saving targets from the Pac Premier acquisition and returned over $300 million to shareholders during the second quarter. CFO Ivan Seda reported earnings per share of $0.73 and operating EPS of $0.76, with net interest margin at 3.93%, and guided for noninterest revenue in the mid-$80 million range and noninterest expense between $330 million and $335 million for the third quarter. Net loans contracted to $47.2 billion from $47.7 billion amid elevated commercial real estate payoff activity, while new loan origination volume reached $1.3 billion. The company repurchased 6.6 million common shares for approximately $200 million, and tangible book value increased 1% to $19.22.

Columbia Banking reported quarterly earnings of $0.76 per share, beating the Zacks Consensus Estimate of $0.73 per share by 4.11%. The bank holding company posted revenues of $677 million for the quarter ended June 2026, missing the consensus estimate by 1.66% but up from $510.91 million a year ago. Over the last four quarters, Columbia Banking has surpassed consensus EPS estimates every time. Shares have gained about 16.7% year-to-date, outperforming the S&P 500's 9.6% increase. The current Zacks Rank for the stock is 4, indicating a Sell rating.

Columbia Bank and public benefit corporation ForgiveCo have partnered to eliminate $5 million in medical debt for over 2,000 veterans and their families across Los Angeles, Orange, Riverside, San Bernardino and San Diego counties. The initiative is part of Columbia Bank's commemoration of America's 250th anniversary. Recipients earning up to 80% of area median income with qualifying debt in collections will be randomly selected and notified by ForgiveCo, with no application required. In addition to debt relief, recipients will have access to complimentary financial counseling and educational resources. The bank is also awarding $100,000 in grants to four nonprofits supporting veterans and active-duty service members.