COLB earnings analysis
What we found in COLB's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Columbia delivered sequential EPS growth, with diluted EPS of $0.73 versus $0.66 in Q1, supported by completed Pacific Premier cost savings and stronger fee income; total Q2 revenue was flat at $677 million. Year-to-date profitability and margin trends improved substantially versus 2025, but Q2 NIM contracted 3 basis points and revenue missed the supplied consensus estimate. The principal offset is deteriorating reported credit quality, alongside a funding mix that reduced brokered deposits but increased FHLB advances.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue stable sequentially at $677 million
- Q2 revenue was $677 million, comprising $589 million of net interest income and $88 million of non-interest income. Revenue was effectively flat sequentially: net interest income declined $5 million while fee income increased $5 million versus Q1.
- EPS increased 11% sequentially
- Diluted EPS rose to $0.73 in Q2 from $0.66 in Q1, while net income increased $16 million to $208 million. The improvement was driven principally by a $19 million sequential reduction in non-interest expense.
- Acquisition cost savings improved expenses
- Non-interest expense fell 5% sequentially to $375 million, led by a $15 million reduction in merger and restructuring expense. Management states all previously disclosed Pacific Premier cost savings had been realized as of June 30, 2026.
- Year-to-date margin expanded despite Q2 dip
- Year-to-date net interest margin expanded to 3.94% from 3.67% a year earlier, as the cost of interest-bearing liabilities fell 56 basis points to 2.23%. Q2 NIM was modestly lower sequentially, at 3.93% versus 3.96%, due principally to interest-income reversals.
- Wholesale-deposit reliance declined
- The balance sheet continues to be optimized: brokered deposits declined to $978 million, or 2% of deposits, from $2.4 billion, or 4%, at year-end. Available liquidity totaled $25.6 billion, equal to 49% of total deposits.
- Commercial growth offsets planned loan runoff
- Commercial loans and leases grew $460 million from year-end to $12.4 billion, while total loans and leases declined $610 million to $47.2 billion as lower-yielding transactional loans ran off. Management expects the portfolio to keep shifting toward relationship-based lending.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Non-performing assets increased sharply
- Credit quality weakened: non-performing assets increased to $273 million, or 0.42% of assets, from $200 million, or 0.30%, at December 31, 2025. Non-performing loans rose to $268 million from $198 million, primarily tied to a single agricultural relationship.
- Funding mix relies more on short-term FHLB debt
- Deposit optimization has increased near-term borrowing exposure: deposits fell $2.2 billion to $52.1 billion while FHLB advances rose to $4.3 billion from $3.2 billion. All $4.3 billion of FHLB advances mature within one year.
- No formal risk-factor update; CRE remains material
- The company reported no material change in risk factors from its Form 10-K for the year ended December 31, 2025. Nevertheless, its $27.0 billion CRE portfolio includes $3.6 billion of office loans and $11.2 billion of multifamily loans, leaving results sensitive to commercial real-estate and refinancing conditions.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.73
What they said about what is next.
The 10-Q contains no explicit numeric revenue or EPS guidance. Management expects liquidity at both the Bank and parent company to remain satisfactory through 2026, while noting deposit balances may fluctuate due to pricing pressure and customer behavior.
The filing reads about the same as the one before it.
What came before.
- 10-Q · May 5, 2026
- Columbia Banking System reported a solid first quarter with revenues of $677 million and diluted EPS of $0.72, both ahead of expectations, leading to a positive sentiment overall. Although net interest income dipped due…
- 10-K · February 26, 2026
- Columbia completed its acquisition of Pacific Premier on August 31, 2025 and unified branding to "Columbia Bank" effective September 1, 2025, expanding its footprint (including into Texas via an HOA office). The company…
- 10-Q · May 6, 2025
- Columbia reported total revenue of $491,372,000 and diluted EPS of $0.41 for the quarter ended March 31, 2025. Net interest income was stable at $424,995,000 while non-interest income rose to $66,377,000, but a…
- 10-Q · August 3, 2023
- Columbia Banking System reported a Q2 2023 quarter driven by merger-related scale: total revenue (net interest income plus non‑interest income) was $523,653,000 and net income was $133,377,000, with diluted EPS of…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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