# EDGAR Filing Document

**Accession Number:** 0000887343
**File Stem:** 0000887343-26-000012
**Filing Date:** 2026-1
**Character Count:** 187535
**Document Hash:** 8894fc29b545bb9cb0cc9b882743ff54
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000887343-26-000012.hdr.sgml**: 20260122

**ACCESSION NUMBER**: 0000887343-26-000012

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 47

**CONFORMED PERIOD OF REPORT**: 20260122

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260122

**DATE AS OF CHANGE**: 20260122

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** COLUMBIA BANKING SYSTEM, INC.
- **CENTRAL INDEX KEY:** 0000887343
- **STANDARD INDUSTRIAL CLASSIFICATION:** STATE COMMERCIAL BANKS [6022]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 911422237
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-20288
- **FILM NUMBER:** 26552558

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 A STREET
- **CITY:** TACOMA
- **STATE:** WA
- **ZIP:** 98402
- **BUSINESS PHONE:** 2533051900

**MAIL ADDRESS:**
- **STREET 1:** 1301 A STREET
- **CITY:** TACOMA
- **STATE:** WA
- **ZIP:** 98402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** COLUMBIA BANKING SYSTEM INC
- **DATE OF NAME CHANGE:** 19930328

?xml version='1.0' encoding='ASCII'? colb-20260122

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

Pursuant to Section 13 or 15(d) of the Securities and Exchange Act of 1934

Date of Report: **January 22, 2026**

(Date of earliest event reported)

**Columbia Banking System, Inc.** 

(Exact Name of Registrant as Specified in Its Charter)

---

| | | |
|:---|:---|:---|
| **<u>Washington</u>** | **<u>000-20288</u>** | **<u>91-1422237</u>** |
| (State or Other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (I.R.S. Employer Identification Number) |

---

**1301 A Street**

**Tacoma, Washington 98402-4200**

(address of Principal Executive Offices)(Zip Code)

**(253) 305-1900**

(Registrant's Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ☐ ]&nbsp;&nbsp;&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ☐ ]&nbsp;&nbsp;&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

[ ☐ ]&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

[ ☐ ]&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| TITLE OF EACH CLASS | TRADING SYMBOL | NAME OF EXCHANGE |
| **Common Stock, No Par Value** | **COLB** | **The Nasdaq Stock Market LLC** |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company [ ☐ ]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]

------

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| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On January 22, 2026, Columbia Banking System, Inc. issued a press release announcing fourth quarter and full year 2025 financial results. The release is attached hereto as Exhibit 99.1. Columbia Banking System, Inc. will include final financial statements and additional analyses for the year ended December 31, 2025 as part of its annual report on Form 10-K covering that period. The information contained in this paragraph, as well as Exhibit 99.1 referenced herein, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended (the "Securities Act").

---

| | |
|:---|:---|
| **Item 7.01** | **Regulation FD Disclosure.** |

---

On January 22, 2026, Columbia Banking System, Inc. issued an investor slide presentation that it intends to review in conjunction with its earnings release conference call on January 22, 2026. The slides attached hereto as Exhibit 99.2 to this report and shall not be deemed to be "filed" for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

---

| | |
|:---|:---|
| **Item 9.01** | **Financial Statements and Exhibits.** |
| (d) | EXHIBITS |
| | <u>[99.1 Press Release announcing fourth quarter 2025 financial results dated January 22, 2026](colb-20251231ex991earnings.htm)</u> |
| | <u>[99.2 Fourth Quarter 2025 Investor Presentation](colb2025q4earningspresen.htm)</u> |
| | 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**<u>SIGNATURES</u>**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| | **Columbia Banking System, Inc.**<br>(Registrant) |
| Dated: January 22, 2026 | By: <u>/s/ Ivan A. Seda</u><br>&nbsp;&nbsp;&nbsp;&nbsp; Ivan A. Seda<br>&nbsp;&nbsp;&nbsp;&nbsp; Executive Vice President, Chief Financial Officer |

---

## Exhibit 99.1

**EXHIBIT 99.1**

---

| |
|:---|
| ![picture9a.gif](picture9a.gif) |
| ![picture9a.gif](picture9a.gif) |

---

---

| | | | |
|:---|:---|:---|:---|
| **COLUMBIA BANKING SYSTEM, INC. REPORTS FOURTH QUARTER 2025 RESULTS** | **COLUMBIA BANKING SYSTEM, INC. REPORTS FOURTH QUARTER 2025 RESULTS** | **COLUMBIA BANKING SYSTEM, INC. REPORTS FOURTH QUARTER 2025 RESULTS** | **COLUMBIA BANKING SYSTEM, INC. REPORTS FOURTH QUARTER 2025 RESULTS** |
| $215 million | $243 million | $0.72 | $0.82 |
| Net income | Operating net income<sup>1</sup> | Earnings per common share - diluted | Operating earnings per common share - diluted<sup>1</sup> |

---

---

| |
|:---|
| **CEO Commentary** |
| "Our fourth quarter performance marked a strong end to a tremendous year for Columbia, reflecting continued momentum across our businesses and our commitment to consistent, repeatable results," said Clint Stein, President and CEO. "Our operating performance was supported by disciplined balance sheet management, new and expanding customer relationships, and the first full-quarter contribution from Pacific Premier. We remain on track for a seamless systems conversion later this quarter, which will enable us to fully realize deal-related cost savings and achieve a clean expense run rate by the third quarter. Investments made throughout 2025 strengthened our western footprint and enhanced our long-term earnings power, and we entered 2026 with healthy pipelines, solid capital generation, and a clear path to continued operational improvement, all in support of long-term value creation and ongoing capital return to our shareholders." |
| &nbsp;&nbsp;**–Clint Stein, Chair, CEO & President of Columbia Banking System, Inc.** |

---

---

| | |
|:---|:---|
| **4Q25 HIGHLIGHTS (COMPARED TO 3Q25)** | **4Q25 HIGHLIGHTS (COMPARED TO 3Q25)** |
| Net Interest Income and NIM | • Net interest income increased by $122 million from the prior quarter, due to two additional months operating as a combined company and lower interest expense due to favorable funding mix trends. |
| Net Interest Income and NIM | • Net interest margin was 4.06%, up 22 basis points from the prior quarter, due to a favorable funding mix shift following the reduction in higher-cost funding sources during the prior quarter. The net interest margin also was impacted by two additional months operating as a combined company in the current period. |
| Non-Interest Income and Expense | • Non-interest income increased by $13 million. Excluding the impact of fair value and hedges,<sup>1</sup> non-interest income increased by $16 million, due to two additional months operating as a combined company and an increase in customer fee income. |
| Non-Interest Income and Expense | • Non-interest expense increased by $19 million, due to two additional months operating as a combined company, partially offset by lower merger expense. |
| Credit Quality | • Net charge-offs were 0.25% of average loans and leases (annualized), compared to 0.22% for the prior quarter.  |
| Credit Quality | • Provision expense was $23 million, compared to $70 million for the prior quarter, which was driven by the acquisition of Pacific Premier in the prior quarter. |
| Credit Quality | • Non-performing assets to total assets was 0.30%, compared to 0.29% as of September 30, 2025. |
| Capital | • Estimated total risk-based capital ratio of 13.6% and estimated common equity tier 1 risk-based capital ratio of 11.8%. |
| Capital | • Declared a quarterly cash dividend of $0.37 per common share on November 14, 2025, which was paid December 15, 2025. |
| Capital | • Repurchased $100 million of common stock under our current repurchase plan. |
| Notable Items | • Executed three successful small business and retail campaigns during 2025, generating $1.3 billion in new deposits to the bank during the year. Our next campaign begins in February. |

---

---

| | | | |
|:---|:---|:---|:---|
| **4Q25 KEY FINANCIAL DATA** | **4Q25 KEY FINANCIAL DATA** | **4Q25 KEY FINANCIAL DATA** | **4Q25 KEY FINANCIAL DATA** |
| PERFORMANCE METRICS | 4Q25 | 3Q25 | 4Q24 |
| Return on average assets | 1.27% | 0.67% | 1.10% |
| Return on average common equity | 10.92% | 6.19% | 10.91% |
| Return on average tangible common equity<sup>1</sup> | 15.24% | 8.58% | 15.41% |
| Operating return on average assets<sup>1</sup> | 1.44% | 1.42% | 1.15% |
| Operating return on average common equity<sup>1</sup>  | 12.34% | 13.15% | 11.40% |
| Operating return on average tangible common equity<sup>1</sup> | 17.22% | 18.24% | 16.11% |
| Net interest margin | 4.06% | 3.84% | 3.64% |
| Efficiency ratio | 57.30% | 67.29% | 54.61% |
| Operating efficiency ratio, as adjusted <sup>1</sup> | 51.39% | 52.32% | 52.51% |
| INCOME STATEMENT <br>($ in millions, excl. per share data) | 4Q25 | 3Q25 | 4Q24 |
| Net interest income | $627 | $505 | $437 |
| Provision for credit losses | $23 | $70 | $28 |
| Non-interest income | $90 | $77 | $50 |
| Non-interest expense | $412 | $393 | $267 |
| Pre-provision net revenue<sup>1</sup> | $305 | $189 | $220 |
| Operating pre-provision net revenue<sup>1</sup> | $342 | $270 | $229 |
| Earnings per common share - diluted | $0.72 | $0.40 | $0.68 |
| Operating earnings per common share - diluted<sup>1</sup> | $0.82 | $0.85 | $0.71 |
| Dividends paid per share | $0.37 | $0.36 | $0.36 |
| BALANCE SHEET <br>($ in millions, excl. per share data) | 4Q25 | 3Q25 | 4Q24 |
| Total assets | $66832 | $67496 | $51576 |
| Loans and leases | $47776 | $48462 | $37681 |
| Deposits | $54211 | $55771 | $41721 |
| Book value per common share | $26.54 | $26.04 | $24.43 |
| Tangible book value per common share<sup>1</sup> | $19.11 | $18.57 | $17.20 |

---

**Investor Contact**

Jacquelynne "Jacque" Bohlen, SVP/Director of Investor Relations, 503-727-4100, jacquebohlen@columbiabank.com

<sup>1</sup> "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

**<u>Organizational Update</u>**

Columbia Banking System, Inc. ("Columbia," the "Company," "we," or "our") closed its acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") on August 31, 2025, and integration efforts continue to progress smoothly. We remain on track to complete the systems conversion and branch consolidations during the first quarter of 2026. We continue to expect to realize all related cost savings by June 30, 2026.

The Columbia Board of Directors elected Clint Stein, President and Chief Executive Officer, to also serve as Chair of the Board, effective January 22, 2026, as previously announced. Maria Pope, the immediate past Chair of the Board, was also appointed, effective the same date, to serve as Lead Independent Director until the Company's 2026 annual meeting of shareholders. Following the annual meeting, Luis Machuca, the current Chair of the Company's Nominating and Governance Committee, will succeed Ms. Pope as Lead Independent Director. The Board's actions reflect its confidence in Mr. Stein's leadership and are intended to support continuity, accountability, and strong governance as Columbia executes on its long-term strategic priorities. "Clint has demonstrated steady, disciplined leadership and a clear strategic vision for Columbia," said Ms. Pope. "Combining the roles of Chair and CEO at this time will enhance alignment between the Board and management, further strengthening our ability to deliver long-term value for shareholders while remaining firmly committed to strong, independent oversight."

Ivan Seda assumed the role of Executive Vice President, Chief Financial Officer, effective December 31, 2025, as previously announced. Mr. Seda joined Columbia in August 2025 as Executive Vice President, Deputy Chief Financial Officer, supporting a seamless leadership transition. "Ivan's first five months with Columbia have already delivered meaningful contributions, and he has transitioned smoothly into his expanded role," stated Mr. Stein. "Recent strategic actions, including our acquisition of Pacific Premier and ongoing balance sheet optimization, have positioned Columbia for an exciting future. We have the resources, talent, and vision to excel across every market we serve, and I am confident Ivan will play a key role in driving consistent, repeatable performance and long-term value creation for our shareholders."

**<u>Net Interest Income</u>**

Net interest income was $627 million for the fourth quarter of 2025, up $122 million from the prior quarter. The increase largely reflects the impact of two additional months operating as a combined company in the current period. Lower interest expense due to a favorable shift in Columbia's funding mix during the prior quarter also contributed to the increase, as did an additional $5 million in interest income related to an accelerated loan repayment.

Columbia's net interest margin was 4.06% for the fourth quarter of 2025, up 22 basis points from the third quarter of 2025. Net interest margin benefited from lower funding costs, due to an increase in customer deposits and corresponding reduction in higher-cost funding sources during the third quarter. The net interest margin also was impacted by two additional months operating as a combined company, which includes an 8-basis point benefit related to the amortization of a premium on acquired time deposits, as described in the following paragraph, and a 3-basis point benefit related to an accelerated loan repayment.

The cost of interest-bearing deposits decreased 35 basis points from the prior quarter to 2.08% for the fourth quarter of 2025. The cost of interest-bearing deposits benefited from the amortization of a premium related to Pacific Premier's time deposits, which contributed $12 million to net interest income during the fourth quarter of 2025, compared to $4 million during the third quarter of 2025, favorably impacting deposit rates in each quarter. The premium was fully amortized as of December 31, 2025. Excluding this impact, the cost of interest-bearing deposits was 2.20% for the fourth quarter of 2025, compared to 2.09% for the month of December and 2.06% as of December 31, 2025. The declining cost of deposits reflects our proactive management of deposit rates ahead of and following reductions to the federal fund rates.

Columbia's cost of interest-bearing liabilities decreased 38 basis points from the prior quarter to 2.27% for the fourth quarter of 2025. Excluding the previously discussed premium amortization, the cost of interest-bearing liabilities was 2.38% for the fourth quarter of 2025, compared to 2.28% for both the month of December and as of December 31 2025. Please refer to the Q4 2025 Earnings Presentation for additional net interest margin change details and interest rate sensitivity information.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

**<u>Non-interest Income</u>**

Non-interest income was $90 million for the fourth quarter of 2025, up $13 million from the prior quarter. Quarterly changes in fair value adjustments and mortgage servicing rights ("MSR") hedging activity, which reflect interest rate fluctuations during the quarter, collectively resulted in a net fair value gain of $2 million for the fourth quarter, compared to a net fair value gain of $5 million for the third quarter, as detailed in our non-GAAP disclosures. Excluding these items, non-interest income was $88 million<sup>2</sup> for the fourth quarter of 2025, up $16 million between periods, as Pacific Premier contributed an additional $13 million to the quarter's run rate. Customer fee income, including swap and international banking revenue, drove the remainder of the increase.

**<u>Non-interest Expense</u>**

Non-interest expense was $412 million for the fourth quarter of 2025, up $19 million from the prior quarter, as two additional months operating as a combined company more than offset lower merger expense. Excluding merger and restructuring expense, exit and disposal costs, a $5 million reversal of prior FDIC assessment expense, and $4 million of other non-operating expense, as detailed in our non-GAAP disclosures, non-interest expense was $373 million<sup>2</sup>, up $66 million from the prior quarter, as Pacific Premier contributed an additional $62 million to the fourth quarter, as compared to the prior quarter's run rate. The Pacific Premier run rate includes deal-related cost savings. Other miscellaneous expenses, including marketing and software costs, contributed to the increase. Please refer to the Q4 2025 Earnings Presentation for additional expense details.

**<u>Balance Sheet</u>**

Total consolidated assets were $66.8 billion as of December 31, 2025, compared to $67.5 billion as of September 30, 2025. The decrease reflects balance sheet optimization activity and an accelerated level of loan repayments. Cash and cash equivalents were $2.4 billion as of December 31, 2025, compared to $2.3 billion as of September 30, 2025. Including secured off-balance sheet lines of credit, total available liquidity was $27.9 billion as of December 31, 2025, representing 42% of total assets, 51% of total deposits, and 141% of uninsured deposits. Available-for-sale securities, which are held on balance sheet at fair value, were $11.1 billion as of December 31, 2025, compared to $11.0 billion as of September 30, 2025. The increase is due to the purchase of $246 million of investment securities, partially offset by paydowns. Please refer to the Q4 2025 Earnings Presentation for additional details related to our securities portfolio and liquidity position.

Gross loans and leases were $47.8 billion as of December 31, 2025, compared to $48.5 billion as of September 30, 2025. The decrease reflects continued run-off in commercial development and below-market-rate transactional loans, as well as the sale of $45 million in acquired loans risk rated special mention. Commercial loans increased by 6% on an annualized basis relative to September 30, 2025, partially offsetting contraction in other portfolios. "Our ability to generate relationship-based commercial business was strengthened by the addition of bankers from Pacific Premier," commented Tory Nixon, President of Columbia Bank. "Loan origination volume increased 17% from the prior quarter, and full-year 2025 volume was up 22% compared to 2024, resulting in strong commercial loan growth, offset by the intentional reduction in transactional loan balances and elevated prepayment activity during the fourth quarter." Please refer to the Q4 2025 Earnings Presentation for additional details related to our loan portfolio, which include underwriting characteristics, the composition of our commercial portfolios, and disclosure related to transactional loans.

Total deposits were $54.2 billion as of December 31, 2025, compared to $55.8 billion as of September 30, 2025. The decrease reflects an intentional reduction in brokered and select public deposits, as alternative funding sources offered a more attractive interest rate. Seasonal reductions in customer deposit balances also contributed to the quarter's decline. "Momentum from the third quarter's exceptional customer deposit growth carried into the fourth quarter," stated Mr. Nixon. "However, balances followed seasonal norms in December, declining in the latter part of the month, due to company distributions, tax payments, and other year-end payouts." We utilized borrowings, which were $3.2 billion as of December 31, 2025, compared to $2.3 billion as of September 30, 2025, to supplement funding needs. Please refer to the Q4 2025 Earnings Presentation for additional details related to deposit characteristics and flows.

**<u>Credit Quality</u>**

The allowance for credit losses ("ACL") was $485 million, or 1.02% of loans and leases, as of December 31, 2025, compared to $492 million, or 1.01% of loans and leases, as of September 30, 2025. The provision for credit losses was $23 million for the fourth quarter of 2025 and reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models.

<sup>2</sup> "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

Net charge-offs were 0.25% of average loans and leases (annualized) for the fourth quarter of 2025, compared to 0.22% for the third quarter of 2025. Net charge-offs in the FinPac portfolio were $14 million in the fourth quarter, compared to $16 million in the third quarter. Net charge-offs excluding the FinPac portfolio were $16 million in the fourth quarter, compared to $6 million in the third quarter. Non-performing assets were $200 million, or 0.30% of total assets, as of December 31, 2025, compared to $199 million, or 0.29% of total assets, as of September 30, 2025. Please refer to the Q4 2025 Earnings Presentation for additional details related to the allowance for credit losses and other credit trends.

**<u>Capital</u>**

Columbia's book value per common share was $26.54 as of December 31, 2025, compared to $26.04 as of September 30, 2025. During the fourth quarter, Columbia repurchased 3.7 million common shares under its current repurchase plan at an average price of $27.07. Book value was also impacted by a favorable change in accumulated other comprehensive (loss) income ("AOCI") to $(233) million as of December 31, 2025, compared to $(268) million as of the prior quarter-end. The change in AOCI is due primarily to a decrease in the tax-effected net unrealized loss on available-for-sale securities to $199 million as of December 31, 2025, compared to $240 million as of September 30, 2025. Tangible book value per common share<sup>3</sup> was $19.11 as of December 31, 2025, compared to $18.57 as of September 30, 2025.

Columbia's estimated total risk-based capital ratio was 13.6% and its estimated common equity tier 1 risk-based capital ratio was 11.8% as of December 31, 2025, compared to 13.4% and 11.6%, respectively, as of September 30, 2025. Columbia remains above current "well-capitalized" regulatory minimums. The regulatory capital ratios as of December 31, 2025 are estimates, pending completion and filing of Columbia's regulatory reports.

**<u>Earnings Presentation and Conference Call Information</u>**

Columbia's Q4 2025 Earnings Presentation provides additional disclosure. A copy will be available on our investor relations page: www.columbiabankingsystem.com.

Columbia will host its fourth quarter 2025 earnings conference call on January 22, 2025 at 2:00 p.m. PT (5:00 p.m. ET). During the call, Columbia's management will provide an update on recent activities and discuss its fourth quarter 2025 financial results. Participants may join the audiocast or register for the call using the link below to receive dial-in details and their own unique PINs. It is recommended you join 10 minutes prior to the start time.

Join the audiocast: https://edge.media-server.com/mmc/p/r4vb6kw9/

Register for the call: https://register-conf.media-server.com/register/BIea441cbeb5cf482194e96ffe3b448071

Access the replay through Columbia's investor relations page: https://www.columbiabankingsystem.com/news-market-data/event-calendar/default.aspx

**<u>About Columbia Banking System, Inc.</u>**

Columbia Banking System, Inc. (Nasdaq: COLB) is headquartered in Tacoma, Washington and is the parent company of Columbia Bank, an award-winning western U.S. regional bank. Columbia Bank is the largest bank headquartered in the Northwest and one of the largest banks headquartered in the West with offices in Arizona, California, Colorado, Idaho, Nevada, Oregon, Texas, Utah, and Washington. Columbia Bank combines the resources, sophistication, and expertise of a national bank with a commitment to deliver superior, personalized service. The bank supports consumers and businesses through a full suite of services, including retail and commercial banking, Small Business Administration lending, institutional and corporate banking, and equipment leasing. Columbia Bank customers also have access to comprehensive investment and wealth management expertise as well as healthcare and private banking through Columbia Wealth Management. Learn more at www.columbiabankingsystem.com.

<sup>3</sup> "Non-GAAP" financial measure. See GAAP to Non-GAAP Reconciliation for additional information.

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

**<u>Forward-Looking Statements</u>**

This press release includes forward-looking statements within the meaning of the "Safe-Harbor" provisions of the Private Securities Litigation Reform Act of 1995, which management believes are a benefit to shareholders. These statements are necessarily subject to risk and uncertainty and actual results could differ materially due to various risk factors, including those set forth from time to time in our filings with the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements and we undertake no obligation to update any such statements. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In this press release we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) diversion of management's attention from ongoing business operations and opportunities, (ii) cost savings and any revenue or expense synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, (iii) deposit attrition, customer or employee loss, and/or revenue loss as a result of the Transaction, and (iv) shareholder litigation that could negatively impact our business and operations; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors.

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

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| | |
|:---|:---|
| TABLE INDEX | TABLE INDEX |
|  | Page |
| <u>[Consolidated Statements of Income](#i8f4a91415be64e72b280db27363fc8f2_13)</u> | <u>[7](#i8f4a91415be64e72b280db27363fc8f2_13)</u> |
| <u>[Consolidated Balance Sheets](#i8f4a91415be64e72b280db27363fc8f2_19)</u> | <u>[9](#i8f4a91415be64e72b280db27363fc8f2_19)</u> |
| <u>[Financial Highlights](#i8f4a91415be64e72b280db27363fc8f2_22)</u> | <u>[10](#i8f4a91415be64e72b280db27363fc8f2_22)</u> |
| <u>[Loan & Lease Portfolio Balances and Mix](#i8f4a91415be64e72b280db27363fc8f2_28)</u> | <u>[12](#i8f4a91415be64e72b280db27363fc8f2_28)</u> |
| <u>[Deposit Portfolio Balances and Mix](#i8f4a91415be64e72b280db27363fc8f2_31)</u> | <u>[13](#i8f4a91415be64e72b280db27363fc8f2_31)</u> |
| <u>[Credit Quality - Non-performing Assets](#i8f4a91415be64e72b280db27363fc8f2_34)</u> | <u>[14](#i8f4a91415be64e72b280db27363fc8f2_34)</u> |
| <u>[Credit Quality - Allowance for Credit Losses](#i8f4a91415be64e72b280db27363fc8f2_37)</u> | <u>[15](#i8f4a91415be64e72b280db27363fc8f2_37)</u> |
| <u>[Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates](#i8f4a91415be64e72b280db27363fc8f2_43)</u> | <u>[17](#i8f4a91415be64e72b280db27363fc8f2_43)</u> |
| <u>[Residential Mortgage Banking Activity](#i8f4a91415be64e72b280db27363fc8f2_49)</u> | <u>[19](#i8f4a91415be64e72b280db27363fc8f2_49)</u> |
| <u>[GAAP to Non-GAAP Reconciliation](#i8f4a91415be64e72b280db27363fc8f2_58)</u> | <u>[21](#i8f4a91415be64e72b280db27363fc8f2_58)</u> |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions, shares in thousands)*** | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Seq.<br>Quarter** | **Year over Year** |
| Interest income: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans and leases | 722 | 619 | 564 | 553 | 572 | 17% | 26% |
| &nbsp;&nbsp;&nbsp;Interest and dividends on investments: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | 102 | 89 | 80 | 69 | 75 | 15% | 36% |
| &nbsp;&nbsp;&nbsp;&nbsp;Exempt from federal income tax | 12 | 8 | 7 | 7 | 7 | 50% | 71% |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | 3 | 4 | 3 | 3 | 3 | (25)% | —% |
| &nbsp;&nbsp;&nbsp;Temporary investments and interest bearing deposits | 19 | 20 | 16 | 16 | 19 | (5)% | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 858 | 740 | 670 | 648 | 676 | 16% | 27% |
| Interest expense: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 195 | 195 | 180 | 177 | 189 | —% | 3% |
| &nbsp;&nbsp;&nbsp;Securities sold under agreement to repurchase and federal funds purchased | 1 | 1 | 1 | 1 | 1 | —% | —% |
| &nbsp;&nbsp;&nbsp;Borrowings | 27 | 30 | 35 | 36 | 40 | (10)% | (33)% |
| &nbsp;&nbsp;&nbsp;Junior and other subordinated debentures | 8 | 9 | 8 | 9 | 9 | (11)% | (11)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 231 | 235 | 224 | 223 | 239 | (2)% | (3)% |
| Net interest income | 627 | 505 | 446 | 425 | 437 | 24% | 43% |
| Provision for credit losses | 23 | 70 | 30 | 27 | 28 | (67)% | (18)% |
| Non-interest income: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | 24 | 21 | 20 | 19 | 18 | 14% | 33% |
| &nbsp;&nbsp;&nbsp;Card-based fees | 16 | 15 | 14 | 13 | 15 | 7% | 7% |
| &nbsp;&nbsp;&nbsp;Financial services and trust revenue | 15 | 9 | 6 | 5 | 5 | 67% | 200% |
| &nbsp;&nbsp;&nbsp;Residential mortgage banking revenue, net | 7 | 7 | 8 | 9 | 7 | —% | —% |
| &nbsp;&nbsp;&nbsp;Gain (loss) on investment securities, net | 2 | 2 |  | 2 | (1) | —% | nm |
| &nbsp;&nbsp;&nbsp;Gain (loss) on loan and lease sales, net | 1 |  |  |  | (2) | nm | nm |
| &nbsp;&nbsp;&nbsp;Gain (loss) on loans held for investment, at fair value |  | 4 |  | 7 | (7) | (100)% | nm |
| &nbsp;&nbsp;&nbsp;BOLI income | 9 | 6 | 5 | 5 | 5 | 50% | 80% |
| &nbsp;&nbsp;&nbsp;Other income | 16 | 13 | 12 | 6 | 10 | 23% | 60% |
| Total non-interest income | 90 | 77 | 65 | 66 | 50 | 17% | 80% |
| Non-interest expense: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 201 | 171 | 155 | 145 | 142 | 18% | 42% |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment, net | 67 | 54 | 47 | 48 | 47 | 24% | 43% |
| &nbsp;&nbsp;&nbsp;Intangible amortization | 42 | 31 | 26 | 28 | 29 | 35% | 45% |
| &nbsp;&nbsp;&nbsp;FDIC assessments | 4 | 8 | 8 | 8 | 8 | (50)% | (50)% |
| &nbsp;&nbsp;&nbsp;Merger and restructuring expense | 39 | 87 | 8 | 14 | 2 | (55)% | nm |
| &nbsp;&nbsp;&nbsp;Legal settlement |  |  |  | 55 |  | nm | nm |
| &nbsp;&nbsp;&nbsp;Other expenses | 59 | 42 | 34 | 42 | 39 | 40% | 51% |
| Total non-interest expense | 412 | 393 | 278 | 340 | 267 | 5% | 54% |
| Income before provision for income taxes | 282 | 119 | 203 | 124 | 192 | 137% | 47% |
| Provision for income taxes | 67 | 23 | 51 | 37 | 49 | 191% | 37% |
| &nbsp;&nbsp;&nbsp;Net income | 215 | 96 | 152 | 87 | 143 | 124% | 50% |
| Weighted average basic shares outstanding (*in thousands*) | 295376 | 237838 | 209125 | 208800 | 208548 | 24% | 42% |
| Weighted average diluted shares outstanding (*in thousands*) | 296760 | 238925 | 209975 | 210023 | 209889 | 24% | 41% |
| Earnings per common share – basic | 0.72 | 0.40 | 0.73 | 0.41 | 0.69 | 80% | 4% |
| Earnings per common share – diluted | 0.72 | 0.40 | 0.73 | 0.41 | 0.68 | 80% | 6% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** | **Consolidated Statements of Income** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Year Ended** | **Year Ended** | **% Change** |
| ***($ in millions, shares in thousands)*** | **Dec 31, 2025** | **Dec 31, 2024** | **Year over Year** |
| Interest income: |  |  |  |
| &nbsp;&nbsp;&nbsp;Loans and leases | 2458 | 2320 | 6% |
| &nbsp;&nbsp;&nbsp;Interest and dividends on investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Taxable | 340 | 305 | 11% |
| &nbsp;&nbsp;&nbsp;&nbsp;Exempt from federal income tax | 34 | 28 | 21% |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends | 13 | 12 | 8% |
| &nbsp;&nbsp;&nbsp;Temporary investments and interest bearing deposits | 71 | 90 | (21)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 2916 | 2755 | 6% |
| Interest expense: |  |  |  |
| &nbsp;&nbsp;&nbsp;Deposits | 747 | 803 | (7)% |
| &nbsp;&nbsp;&nbsp;Securities sold under agreement to repurchase and federal funds purchased | 4 | 5 | (20)% |
| &nbsp;&nbsp;&nbsp;Borrowings | 128 | 190 | (33)% |
| &nbsp;&nbsp;&nbsp;Junior and other subordinated debentures | 34 | 39 | (13)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 913 | 1037 | (12)% |
| Net interest income | 2003 | 1718 | 17% |
| Provision for credit losses | 150 | 106 | 42% |
| Non-interest income: |  |  |  |
| &nbsp;&nbsp;&nbsp;Service charges on deposits | 84 | 72 | 17% |
| &nbsp;&nbsp;&nbsp;Card-based fees | 58 | 57 | 2% |
| &nbsp;&nbsp;&nbsp;Financial services and trust revenue | 35 | 20 | 75% |
| &nbsp;&nbsp;&nbsp;Residential mortgage banking revenue, net | 31 | 24 | 29% |
| &nbsp;&nbsp;&nbsp;Gain on investment securities, net | 6 |  | nm |
| &nbsp;&nbsp;Gain (loss) on loan and lease sales, net | 1 | (3) | nm |
| &nbsp;&nbsp;Gain (loss) on loans held for investment, at fair value | 11 | (10) | nm |
| &nbsp;&nbsp;&nbsp;BOLI income | 25 | 19 | 32% |
| &nbsp;&nbsp;&nbsp;Other income | 47 | 32 | 47% |
| Total non-interest income | 298 | 211 | 41% |
| Non-interest expense: |  |  |  |
| &nbsp;&nbsp;&nbsp;Salaries and employee benefits | 672 | 589 | 14% |
| &nbsp;&nbsp;&nbsp;Occupancy and equipment, net | 216 | 182 | 19% |
| &nbsp;&nbsp;&nbsp;Intangible amortization | 127 | 119 | 7% |
| &nbsp;&nbsp;&nbsp;FDIC assessments | 28 | 42 | (33)% |
| &nbsp;&nbsp;&nbsp;Merger and restructuring expense | 148 | 24 | nm |
| &nbsp;&nbsp;&nbsp;Legal settlement | 55 |  | nm |
| &nbsp;&nbsp;&nbsp;Other expenses | 177 | 148 | 20% |
| Total non-interest expense | 1423 | 1104 | 29% |
| Income before provision for income taxes | 728 | 719 | 1% |
| Provision for income taxes | 178 | 185 | (4)% |
| &nbsp;&nbsp;&nbsp;Net income | 550 | 534 | 3% |
| Weighted average basic shares outstanding *(in thousands)* | 238022 | 208463 | 14% |
| Weighted average diluted shares outstanding *(in thousands*) | 239121 | 209337 | 14% |
| Earnings per common share – basic | 2.31 | 2.56 | (10)% |
| Earnings per common share – diluted | 2.30 | 2.55 | (10)% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** | **Consolidated Balance Sheets** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | | | | | **% Change** | **% Change** |
| ***($ in millions, shares in thousands)*** |<br>**Dec 31, 2025** |<br>**Sep 30, 2025** |<br>**Jun 30, 2025** |<br>**Mar 31, 2025** |<br>**Dec 31, 2024** | **Seq.<br>Quarter** | **Year over Year** |
| **Assets:** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Cash and due from banks | 511 | 535 | 608 | 591 | 497 | (4)% | 3% |
| &nbsp;&nbsp;&nbsp;Interest-bearing cash and temporary investments | 1869 | 1808 | 1334 | 1481 | 1381 | 3% | 35% |
| &nbsp;&nbsp;&nbsp;Investment securities: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Equity and other, at fair value | 113 | 112 | 93 | 92 | 78 | 1% | 45% |
| &nbsp;&nbsp;&nbsp;&nbsp;Available for sale, at fair value | 11112 | 11013 | 8653 | 8229 | 8275 | 1% | 34% |
| &nbsp;&nbsp;&nbsp;&nbsp;Held to maturity, at amortized cost | 18 | 18 | 2 | 2 | 2 | —% | nm |
| &nbsp;&nbsp;&nbsp;Loans held for sale | 262 | 340 | 66 | 65 | 72 | (23)% | 264% |
| &nbsp;&nbsp;&nbsp;Loans and leases | 47776 | 48462 | 37637 | 37616 | 37681 | (1)% | 27% |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses on loans and leases | (466) | (473) | (421) | (421) | (425) | (1)% | 10% |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans and leases | 47310 | 47989 | 37216 | 37195 | 37256 | (1)% | 27% |
| &nbsp;&nbsp;&nbsp;Restricted equity securities | 159 | 119 | 161 | 125 | 150 | 34% | 6% |
| &nbsp;&nbsp;&nbsp;Premises and equipment, net | 422 | 416 | 357 | 345 | 349 | 1% | 21% |
| &nbsp;&nbsp;&nbsp;Goodwill | 1482 | 1481 | 1029 | 1029 | 1029 | —% | 44% |
| &nbsp;&nbsp;&nbsp;Other intangible assets, net | 712 | 754 | 430 | 456 | 484 | (6)% | 47% |
| &nbsp;&nbsp;&nbsp;Bank-owned life insurance | 1218 | 1199 | 705 | 701 | 694 | 2% | 76% |
| &nbsp;&nbsp;&nbsp;Other assets | 1644 | 1712 | 1247 | 1208 | 1309 | (4)% | 26% |
| Total assets | 66832 | 67496 | 51901 | 51519 | 51576 | (1)% | 30% |
| **Liabilities:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Deposits |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-interest-bearing | 17419 | 17810 | 13220 | 13414 | 13308 | (2)% | 31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 36792 | 37961 | 28523 | 28804 | 28413 | (3)% | 29% |
| &nbsp;&nbsp;&nbsp;&nbsp; Total deposits | 54211 | 55771 | 41743 | 42218 | 41721 | (3)% | 30% |
| &nbsp;&nbsp;&nbsp;Securities sold under agreements to repurchase | 207 | 167 | 191 | 192 | 237 | 24% | (13)% |
| &nbsp;&nbsp;&nbsp;Borrowings | 3200 | 2300 | 3350 | 2550 | 3100 | 39% | 3% |
| &nbsp;&nbsp;&nbsp;Junior subordinated debentures, at fair value | 338 | 331 | 323 | 321 | 331 | 2% | 2% |
| &nbsp;&nbsp;&nbsp;Junior and other subordinated debentures, at amortized cost | 97 | 107 | 108 | 108 | 108 | (9)% | (10)% |
| &nbsp;&nbsp;&nbsp;Other liabilities | 939 | 1030 | 844 | 892 | 961 | (9)% | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 58992 | 59706 | 46559 | 46281 | 46458 | (1)% | 27% |
| **Shareholders' equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stock | 8099 | 8189 | 5826 | 5823 | 5817 | (1)% | 39% |
| &nbsp;&nbsp;&nbsp;Accumulated deficit | (26) | (131) | (151) | (227) | (237) | (80)% | (89)% |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss | (233) | (268) | (333) | (358) | (462) | (13)% | (50)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total shareholders' equity | 7840 | 7790 | 5342 | 5238 | 5118 | 1% | 53% |
| Total liabilities and shareholders' equity | 66832 | 67496 | 51901 | 51519 | 51576 | (1)% | 30% |
| Common shares outstanding at period end *(in thousands*) | 295422 | 299147 | 210213 | 210112 | 209536 | (1)% | 41% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **<u>Per Common Share Data:</u>**  | | | | | | | |
| &nbsp;&nbsp;&nbsp;Dividends | $0.37 | $0.36 | $0.36 | $0.36 | $0.36 | 3% | 3% |
| &nbsp;&nbsp;&nbsp;Book value | $26.54 | $26.04 | $25.41 | $24.93 | $24.43 | 2% | 9% |
| &nbsp;&nbsp;&nbsp;Tangible book value <sup>(1)</sup> | $19.11 | $18.57 | $18.47 | $17.86 | $17.20 | 3% | 11% |
| **<u>Performance Ratios:</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Efficiency ratio <sup>(2)</sup> | 57.30% | 67.29% | 54.29% | 69.06% | 54.61% | (9.99) | 2.69 |
| &nbsp;&nbsp;&nbsp;Non-interest expense to average assets <sup>(1)</sup> | 2.44% | 2.74% | 2.16% | 2.68% | 2.06% | (0.30) | 0.38 |
| &nbsp;&nbsp;&nbsp;Return on average assets ("ROAA") | 1.27% | 0.67% | 1.19% | 0.68% | 1.10% | 0.60 | 0.17 |
| &nbsp;&nbsp;&nbsp;Pre-provision net revenue ("PPNR") ROAA <sup>(1)</sup> | 1.80% | 1.32% | 1.81% | 1.19% | 1.70% | 0.48 | 0.10 |
| &nbsp;&nbsp;&nbsp;Return on average common equity | 10.92% | 6.19% | 11.56% | 6.73% | 10.91% | 4.73 | 0.01 |
| &nbsp;&nbsp;&nbsp;Return on average tangible common equity <sup>(1)</sup> | 15.24% | 8.58% | 16.03% | 9.45% | 15.41% | 6.66 | (0.17) |
| **<u>Performance Ratios - Operating:</u>** <sup>(1)</sup> |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Operating efficiency ratio, as adjusted <sup>(1),</sup> <sup>(2)</sup> | 51.39% | 52.32% | 51.79% | 55.11% | 52.51% | (0.93) | (1.12) |
| &nbsp;&nbsp;&nbsp;Operating non-interest expense to average assets <sup>(1)</sup> | 2.20% | 2.14% | 2.10% | 2.13% | 2.03% | 0.06 | 0.17 |
| &nbsp;&nbsp;&nbsp;Operating ROAA <sup>(1)</sup> | 1.44% | 1.42% | 1.25% | 1.10% | 1.15% | 0.02 | 0.29 |
| &nbsp;&nbsp;&nbsp;Operating PPNR ROAA <sup>(1)</sup> | 2.02% | 1.89% | 1.88% | 1.67% | 1.77% | 0.13 | 0.25 |
| &nbsp;&nbsp;&nbsp;Operating return on average common equity <sup>(1)</sup> | 12.34% | 13.15% | 12.16% | 10.87% | 11.40% | (0.81) | 0.94 |
| &nbsp;&nbsp;&nbsp;Operating return on average tangible common equity <sup>(1)</sup> | 17.22% | 18.24% | 16.85% | 15.26% | 16.11% | (1.02) | 1.11 |
| **<u>Average Balance Sheet Yields, Rates, & Ratios:</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Yield on loans and leases | 5.92% | 5.96% | 6.00% | 5.92% | 6.05% | (0.04) | (0.13) |
| &nbsp;&nbsp;&nbsp;Yield on earning assets <sup>(2)</sup> | 5.55% | 5.62% | 5.62% | 5.49% | 5.63% | (0.07) | (0.08) |
| &nbsp;&nbsp;&nbsp;Cost of interest bearing deposits | 2.08% | 2.43% | 2.52% | 2.52% | 2.66% | (0.35) | (0.58) |
| &nbsp;&nbsp;&nbsp;Cost of interest bearing liabilities | 2.27% | 2.65% | 2.78% | 2.80% | 2.98% | (0.38) | (0.71) |
| &nbsp;&nbsp;&nbsp;Cost of total deposits | 1.40% | 1.66% | 1.73% | 1.72% | 1.80% | (0.26) | (0.40) |
| &nbsp;&nbsp;&nbsp;Cost of total funding <sup>(3)</sup> | 1.57% | 1.87% | 1.98% | 1.99% | 2.09% | (0.30) | (0.52) |
| &nbsp;&nbsp;&nbsp;Net interest margin <sup>(2)</sup> | 4.06% | 3.84% | 3.75% | 3.60% | 3.64% | 0.22 | 0.42 |
| &nbsp;&nbsp;&nbsp;Average interest bearing cash / Average interest earning assets | 3.12% | 3.41% | 2.97% | 3.13% | 3.29% | (0.29) | (0.17) |
| &nbsp;&nbsp;&nbsp;Average loans and leases / Average interest earning assets | 78.12% | 78.39% | 78.64% | 78.93% | 78.42% | (0.27) | (0.30) |
| &nbsp;&nbsp;&nbsp;Average loans and leases / Average total deposits | 87.34% | 88.39% | 90.07% | 90.36% | 89.77% | (1.05) | (2.43) |
| &nbsp;&nbsp;&nbsp;Average non-interest bearing deposits / Average total deposits | 32.45% | 31.41% | 31.39% | 31.75% | 32.45% | 1.04 |  |
| &nbsp;&nbsp;&nbsp;Average total deposits / Average total funding <sup>(3)</sup> | 94.52% | 93.47% | 91.92% | 91.86% | 91.88% | 1.05 | 2.64 |
| **<u>Select Credit & Capital Ratios:</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Non-performing loans and leases to total loans and leases | 0.41% | 0.40% | 0.47% | 0.47% | 0.44% | 0.01 | (0.03) |
| &nbsp;&nbsp;&nbsp;Non-performing assets to total assets | 0.30% | 0.29% | 0.35% | 0.35% | 0.33% | 0.01 | (0.03) |
| &nbsp;&nbsp;&nbsp;Allowance for credit losses to loans and leases | 1.02% | 1.01% | 1.17% | 1.17% | 1.17% | 0.01 | (0.15) |
| &nbsp;&nbsp;&nbsp;Total risk-based capital ratio <sup>(4)</sup> | 13.6% | 13.4% | 13.0% | 12.9% | 12.8% | 0.20 | 0.80 |
| &nbsp;&nbsp;&nbsp;Common equity tier 1 risk-based capital ratio <sup>(4)</sup> | 11.8% | 11.6% | 10.8% | 10.6% | 10.5% | 0.20 | 1.30 |

---

<sup>(1)</sup> See GAAP to Non-GAAP Reconciliation.

<sup>(2)</sup> Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.

<sup>(3)</sup> Total funding = total deposits + total borrowings.

<sup>(4)</sup> Estimated holding company ratios.

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | |
|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Financial Highlights** | **Financial Highlights** | **Financial Highlights** | **Financial Highlights** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Year Ended** | **Year Ended** | **% Change** |
| | **Dec 31, 2025** | **Dec 31, 2024** | **Year over Year** |
| **<u>Per Common Share Data:</u>** | | | |
| &nbsp;&nbsp;&nbsp;Dividends | $1.45 | $1.44 | 0.69% |
| **<u>Performance Ratios:</u>** |  |  |  |
| &nbsp;&nbsp;&nbsp;Efficiency ratio <sup>(2)</sup> | 61.68% | 57.14% | 4.54 |
| &nbsp;&nbsp;&nbsp;Non-interest expense to average assets <sup>(1)</sup> | 2.51% | 2.13% | 0.38 |
| &nbsp;&nbsp;&nbsp;Return on average assets | 0.97% | 1.03% | (0.06) |
| &nbsp;&nbsp;&nbsp;PPNR ROAA <sup>(1)</sup> | 1.55% | 1.59% | (0.04) |
| &nbsp;&nbsp;&nbsp;Return on average common equity | 8.98% | 10.55% | (1.57) |
| &nbsp;&nbsp;&nbsp;Return on average tangible common equity <sup>(1)</sup> | 12.51% | 15.31% | (2.80) |
| **<u>Performance Ratios - Operating:</u>** <sup>(1)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;Operating efficiency ratio, as adjusted <sup>(1),</sup> <sup>(2)</sup> | 52.54% | 54.22% | (1.68) |
| &nbsp;&nbsp;&nbsp;Operating non-interest expense to average assets <sup>(1)</sup> | 2.15% | 2.06% | 0.09 |
| &nbsp;&nbsp;&nbsp;Operating ROAA <sup>(1)</sup> | 1.31% | 1.09% | 0.22 |
| &nbsp;&nbsp;&nbsp;Operating PPNR ROAA <sup>(1)</sup> | 1.88% | 1.68% | 0.20 |
| &nbsp;&nbsp;&nbsp;Operating return on average common equity <sup>(1)</sup> | 12.18% | 11.23% | 0.95 |
| &nbsp;&nbsp;&nbsp;Operating return on average tangible common equity <sup>(1)</sup> | 16.97% | 16.30% | 0.67 |
| **<u>Average Balance Sheet Yields, Rates, & Ratios:</u>** |  |  |  |
| &nbsp;&nbsp;&nbsp;Yield on loans and leases | 5.95% | 6.15% | (0.20) |
| &nbsp;&nbsp;&nbsp;Yield on earning assets <sup>(2)</sup> | 5.57% | 5.73% | (0.16) |
| &nbsp;&nbsp;&nbsp;Cost of interest bearing deposits | 2.36% | 2.87% | (0.51) |
| &nbsp;&nbsp;&nbsp;Cost of interest bearing liabilities | 2.61% | 3.21% | (0.60) |
| &nbsp;&nbsp;&nbsp;Cost of total deposits | 1.61% | 1.93% | (0.32) |
| &nbsp;&nbsp;&nbsp;Cost of total funding <sup>(3)</sup> | 1.83% | 2.26% | (0.43) |
| &nbsp;&nbsp;&nbsp;Net interest margin <sup>(2)</sup> | 3.83% | 3.57% | 0.26 |
| &nbsp;&nbsp;&nbsp;Average interest bearing cash / Average interest earning assets | 3.16% | 3.53% | (0.37) |
| &nbsp;&nbsp;&nbsp;Average loans and leases / Average interest earning assets | 78.49% | 78.12% | 0.37 |
| &nbsp;&nbsp;&nbsp;Average loans and leases / Average total deposits | 88.89% | 90.30% | (1.41) |
| &nbsp;&nbsp;&nbsp;Average non-interest bearing deposits / Average total deposits | 31.79% | 32.70% | (0.91) |
| &nbsp;&nbsp;&nbsp;Average total deposits / Average total funding <sup>(3)</sup> | 93.07% | 90.59% | 2.48 |

---

<sup>(1)</sup> See GAAP to Non-GAAP Reconciliation.

<sup>(2)</sup> Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate.

<sup>(3)</sup> Total funding = Total deposits + Total borrowings.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** | **Loan & Lease Portfolio Balances and Mix** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **% Change** | **% Change** |
| ***($ in millions)*** | **Amount** | **Amount** | **Amount** | **Amount** | **Amount** | **Seq. Quarter** | **Year over Year** |
| **<u>Loans and leases:</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied term | $8206 | $8444 | $6190 | $6179 | $6278 | (3)% | 31% |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied term | 7314 | 7361 | 5320 | 5303 | 5270 | (1)% | 39% |
| &nbsp;&nbsp;&nbsp;&nbsp;Multifamily | 10281 | 10377 | 5735 | 5831 | 5804 | (1)% | 77% |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction & development | 1707 | 2071 | 2070 | 2071 | 1983 | (18)% | (14)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential development | 362 | 367 | 286 | 252 | 232 | (1)% | 56% |
| &nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Term | 6713 | 6590 | 5353 | 5490 | 5538 | 2% | 21% |
| &nbsp;&nbsp;&nbsp;&nbsp;Lines of credit & other | 3643 | 3582 | 2951 | 2754 | 2770 | 2% | 32% |
| &nbsp;&nbsp;&nbsp;&nbsp;Leases & equipment finance | 1599 | 1614 | 1641 | 1644 | 1661 | (1)% | (4)% |
| &nbsp;&nbsp;&nbsp;Residential: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage | 5624 | 5722 | 5830 | 5878 | 5933 | (2)% | (5)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity loans & lines | 2149 | 2153 | 2083 | 2039 | 2032 | —% | 6% |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer & other | 178 | 181 | 178 | 175 | 180 | (2)% | (1)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases, net of deferred fees and costs | $47776 | $48462 | $37637 | $37616 | $37681 | (1)% | 27% |
| **<u>Loans and leases mix:</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-owner occupied term | 17% | 18% | 16% | 16% | 17% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Owner occupied term | 15% | 15% | 14% | 14% | 14% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Multifamily | 22% | 21% | 15% | 15% | 15% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction & development | 4% | 4% | 6% | 6% | 5% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential development | 1% | 1% | 1% | 1% | 1% |  |  |
| &nbsp;&nbsp;&nbsp;Commercial: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Term | 14% | 14% | 14% | 15% | 15% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Lines of credit & other | 8% | 7% | 8% | 7% | 7% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Leases & equipment finance | 3% | 3% | 4% | 4% | 4% |  |  |
| &nbsp;&nbsp;&nbsp;Residential: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage | 12% | 12% | 15% | 16% | 16% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity loans & lines | 4% | 4% | 6% | 5% | 5% |  |  |
| Consumer & other | —% | 1% | 1% | 1% | 1% |  |  |
| &nbsp;&nbsp;&nbsp;Total | 100% | 100% | 100% | 100% | 100% |  |  |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** | **Deposit Portfolio Balances and Mix** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **% Change** | **% Change** |
| ***($ in millions)*** | **Amount** | **Amount** | **Amount** | **Amount** | **Amount** | **Seq. Quarter** | **Year over Year** |
| **<u>Deposits:</u>** | | | | | | | |
| &nbsp;&nbsp;&nbsp;Demand, non-interest bearing | $17419 | $17810 | $13220 | $13414 | $13308 | (2)% | 31% |
| &nbsp;&nbsp;&nbsp;Demand, interest bearing | 10763 | 11675 | 8335 | 8494 | 8476 | (8)% | 27% |
| &nbsp;&nbsp;&nbsp;Money market | 17013 | 16816 | 11694 | 11971 | 11475 | 1% | 48% |
| &nbsp;&nbsp;&nbsp;Savings | 2442 | 2504 | 2276 | 2337 | 2360 | (2)% | 3% |
| &nbsp;&nbsp;&nbsp;Time | 6574 | 6966 | 6218 | 6002 | 6102 | (6)% | 8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | $54211 | $55771 | $41743 | $42218 | $41721 | (3)% | 30% |
| Total core deposits <sup>(1)</sup> | $50174 | $51535 | $37294 | $38079 | $37488 | (3)% | 34% |
| **<u>Deposit mix:</u>** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand, non-interest bearing | 32% | 32% | 32% | 32% | 32% |  |  |
| &nbsp;&nbsp;&nbsp;Demand, interest bearing | 20% | 21% | 20% | 20% | 20% |  |  |
| &nbsp;&nbsp;&nbsp;Money market | 31% | 30% | 28% | 28% | 27% |  |  |
| &nbsp;&nbsp;&nbsp;Savings | 5% | 5% | 5% | 6% | 6% |  |  |
| &nbsp;&nbsp;&nbsp;Time | 12% | 12% | 15% | 14% | 15% |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total | 100% | 100% | 100% | 100% | 100% |  |  |

---

<sup>(1)</sup> Core deposits are defined as total deposits less time deposits greater than $250,000 and all brokered deposits.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** | **Credit Quality – Non-performing Assets** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions)*** | **Dec 31, 2025** | **Dec 31, 2025** | **Sep 30, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **<u>Non-performing assets:</u>** <sup>(1)</sup> | | | | | | | | | | | | |
| Loans and leases on non-accrual status: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | $| 50 | $| 53 | $| 31 | $| 42 | $| 39 | (6)% | 28% |
| &nbsp;&nbsp;&nbsp;Commercial | 66 | 66 | 67 | 67 | 67 | 67 | 80 | 80 | 57 | 57 | (1)% | 16% |
| Total loans and leases on non-accrual status | 116 | 116 | 120 | 120 | 98 | 98 | 122 | 122 | 96 | 96 | (3)% | 21% |
| Loans and leases past due 90+ days and accruing: <sup>(2)</sup> |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | 2 | 2 |  |  |  |  |  |  |  |  | nm | nm |
| &nbsp;&nbsp;&nbsp;Commercial | 8 | 8 | 5 | 5 | 5 | 5 |  |  | 5 | 5 | 60% | 60% |
| &nbsp;&nbsp;&nbsp;Residential <sup>(2)</sup> | 72 | 72 | 71 | 71 | 74 | 74 | 53 | 53 | 66 | 66 | 1% | 9% |
| Total loans and leases past due 90+ days and accruing <sup>(2)</sup> | 82 | 82 | 76 | 76 | 79 | 79 | 53 | 53 | 71 | 71 | 8% | 15% |
| Total non-performing loans and leases <sup>(1), (2)</sup> | 198 | 198 | 196 | 196 | 177 | 177 | 175 | 175 | 167 | 167 | 1% | 19% |
| Other real estate owned | 2 | 2 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | (33)% | (33)% |
| Total non-performing assets <sup>(1), (2)</sup> | $| 200 | $| 199 | $| 180 | $| 178 | $| 170 | 1% | 18% |
| Loans and leases past due 31-89 days | $| 94 | $| 85 | $| 142 | $| 158 | $| 105 | 11% | (10)% |
| Loans and leases past due 31-89 days to total loans and leases | 0.20 | 0.20% | 0.18 | 0.18% | 0.38 | 0.38% | 0.42 | 0.42% | 0.28 | 0.28% | 0.02 | (0.08) |
| Non-performing loans and leases to total loans and leases <sup>(1), (2)</sup> | 0.41 | 0.41% | 0.40 | 0.40% | 0.47 | 0.47% | 0.47 | 0.47% | 0.44 | 0.44% | 0.01 | (0.03) |
| Non-performing assets to total assets <sup>(1), (2)</sup> | 0.30 | 0.30% | 0.29 | 0.29% | 0.35 | 0.35% | 0.35 | 0.35% | 0.33 | 0.33% | 0.01 | (0.03) |
| Non-accrual loans and leases to total loan and leases <sup>(2)</sup> | 0.24 | 0.24% | 0.25 | 0.25% | 0.26 | 0.26% | 0.33 | 0.33% | 0.26 | 0.26% | (0.01) | (0.02) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |  |

---

<sup>(1)</sup> Non-accrual and 90+ days past due loans include government guarantees of $79 million, $70 million, $68 million, $67 million, and $74 million at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025, and December 31, 2024, respectively.

<sup>(2)</sup> Excludes certain mortgage loans guaranteed by GNMA, which Columbia has the unilateral right to repurchase but has not done so, totaling $3 million, $2 million, $2 million, $3 million, and $2 million at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025, and December 31, 2024, respectively.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions)*** | **Dec 31, 2025** | **Dec 31, 2025** | **Sep 30, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **Allowance for credit losses on loans and leases (ACLLL)** | | | | | | | | | | | | |
| Balance, beginning of period | $| 473 | $| 421 | $| 421 | $| 425 | $| 420 | 12% | 13% |
| Initial ACL recorded for PCD loans acquired during the period |  |  | 5 | 5 |  |  |  |  |  |  | (100)% | nm |
| Provision for credit losses on loans and leases  | 23 | 23 | 69 | 69 | 29 | 29 | 26 | 26 | 30 | 30 | (67)% | (23)% |
| &nbsp;&nbsp;Charge-offs |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | (8) | (8) | (3) | (3) |  |  |  |  | (3) | (3) | 167% | 167% |
| &nbsp;&nbsp;&nbsp;Commercial | (23) | (23) | (22) | (22) | (33) | (33) | (33) | (33) | (26) | (26) | 5% | (12)% |
| &nbsp;&nbsp;&nbsp;Residential | (1) | (1) |  |  |  |  | (1) | (1) |  |  | nm | nm |
| &nbsp;&nbsp;&nbsp;Consumer & other | (1) | (1) | (2) | (2) | (1) | (1) | (1) | (1) | (1) | (1) | (50)% | 0% |
| Total charge-offs | (33) | (33) | (27) | (27) | (34) | (34) | (35) | (35) | (30) | (30) | 22% | 10% |
| &nbsp;&nbsp;&nbsp;Recoveries |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | 3 | 3 | 4 | 4 | 5 | 5 | 4 | 4 | 4 | 4 | (25)% | (25)% |
| &nbsp;&nbsp;&nbsp;Consumer & other |  |  | 1 | 1 |  |  | 1 | 1 | 1 | 1 | (100)% | (100)% |
| Total recoveries | 3 | 3 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | (40)% | (40)% |
| &nbsp;&nbsp;&nbsp;Net (charge-offs) recoveries |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | (8) | (8) | (3) | (3) |  |  |  |  | (3) | (3) | 167% | 167% |
| &nbsp;&nbsp;&nbsp;Commercial | (20) | (20) | (18) | (18) | (28) | (28) | (29) | (29) | (22) | (22) | 11% | (9)% |
| &nbsp;&nbsp;&nbsp;Residential | (1) | (1) |  |  |  |  | (1) | (1) |  |  | nm | nm |
| &nbsp;&nbsp;&nbsp;Consumer & other | (1) | (1) | (1) | (1) | (1) | (1) |  |  |  |  | 0% | nm |
| Total net charge-offs | (30) | (30) | (22) | (22) | (29) | (29) | (30) | (30) | (25) | (25) | 36% | 20% |
| Balance, end of period | $| 466 | $| 473 | $| 421 | $| 421 | $| 425 | (1)% | 10% |
| **Reserve for unfunded commitments** |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Balance, beginning of period | $| 19 | $| 18 | $| 17 | $| 16 | $| 18 | 6% | 6% |
| &nbsp;&nbsp;&nbsp;Provision (recapture) for credit losses on unfunded commitments |  |  | 1 | 1 | 1 | 1 | 1 | 1 | (2) | (2) | (100)% | nm |
| &nbsp;&nbsp;&nbsp;Balance, end of period | 19 | 19 | 19 | 19 | 18 | 18 | 17 | 17 | 16 | 16 | 0% | 19% |
| **Total Allowance for credit losses (ACL)** | $| 485 | $| 492 | $| 439 | $| 438 | $| 441 | (1)% | 10% |
| Net charge-offs to average loans and leases (annualized) | 0.25 | 0.25% | 0.22 | 0.22% | 0.31 | 0.31% | 0.32 | 0.32% | 0.27 | 0.27% | 0.03 | (0.02) |
| Recoveries to gross charge-offs | 9.09 | 9.09% | 18.52 | 18.52% | 15.19 | 15.19% | 14.05 | 14.05% | 15.23 | 15.23% | (9.43) | (6.14) |
| ACLLL to loans and leases | 0.98 | 0.98% | 0.98 | 0.98% | 1.12 | 1.12% | 1.12 | 1.12% | 1.13 | 1.13% |  | (0.15) |
| ACL to loans and leases | 1.02 | 1.02% | 1.01 | 1.01% | 1.17 | 1.17% | 1.17 | 1.17% | 1.17 | 1.17% | 0.01 | (0.15) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |  |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** | **Credit Quality – Allowance for Credit Losses** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **% Change** |
| ***($ in millions)*** | **Dec 31, 2025** | **Dec 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Year over Year** |
| **Allowance for credit losses on loans and leases (ACLLL)** | | | | | |
| &nbsp;&nbsp;&nbsp;Balance, beginning of period | $| 425 | $| 441 | (4)% |
| &nbsp;&nbsp;&nbsp;Initial ACL recorded for PCD loans acquired during the period | 5 | 5 |  |  | nm |
| &nbsp;&nbsp;Provision for credit losses on loans and leases  | 147 | 147 | 113 | 113 | 30% |
| &nbsp;&nbsp;&nbsp;Charge-offs |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | (11) | (11) | (4) | (4) | 175% |
| &nbsp;&nbsp;&nbsp;Commercial | (111) | (111) | (139) | (139) | (20)% |
| &nbsp;&nbsp;&nbsp;Residential | (2) | (2) | (2) | (2) | 0% |
| &nbsp;&nbsp;&nbsp;Consumer & other | (5) | (5) | (6) | (6) | (17)% |
| Total charge-offs | (129) | (129) | (151) | (151) | (15)% |
| &nbsp;&nbsp;&nbsp;Recoveries |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate |  |  | 1 | 1 | (100)% |
| &nbsp;&nbsp;&nbsp;Commercial | 16 | 16 | 18 | 18 | (11)% |
| &nbsp;&nbsp;&nbsp;Residential |  |  | 1 | 1 | (100)% |
| &nbsp;&nbsp;&nbsp;Consumer & other | 2 | 2 | 2 | 2 | 0% |
| Total recoveries | 18 | 18 | 22 | 22 | (18)% |
| &nbsp;&nbsp;&nbsp;Net (charge-offs) recoveries |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | (11) | (11) | (3) | (3) | 267% |
| &nbsp;&nbsp;&nbsp;Commercial | (95) | (95) | (121) | (121) | (21)% |
| &nbsp;&nbsp;&nbsp;Residential | (2) | (2) | (1) | (1) | 100% |
| &nbsp;&nbsp;&nbsp;Consumer & other | (3) | (3) | (4) | (4) | (25)% |
| Total net charge-offs | (111) | (111) | (129) | (129) | (14)% |
| &nbsp;&nbsp;&nbsp;Balance, end of period | $| 466 | $| 425 | 10% |
| **Reserve for unfunded commitments** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Balance, beginning of period | $| 16 | $| 23 | (30)% |
| &nbsp;&nbsp;&nbsp;Provision (recapture) for credit losses on unfunded commitments | 3 | 3 | (7) | (7) | nm |
| &nbsp;&nbsp;&nbsp;&nbsp;Balance, end of period | 19 | 19 | 16 | 16 | 19% |
| **Total Allowance for credit losses (ACL)** | $| 485 | $| 441 | 10% |
| Net charge-offs to average loans and leases (annualized) | 0.27 | 0.27% | 0.34 | 0.34% | (0.07) |
| Recoveries to gross charge-offs | 13.95 | 13.95% | 14.54 | 14.54% | (0.59) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** |
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **September 30, 2025** | **September 30, 2025** | **September 30, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| ***($ in millions)*** | **Average Balance** | **Interest Income or Expense** | **Average Yields or Rates** | **Average Balance** | **Interest Income or Expense** | **Average Yields or Rates** | **Average Balance** | **Interest Income or Expense** | **Average Yields or Rates** |
| **INTEREST-EARNING ASSETS:** | | | | | | | | | |
| Loans held for sale | $306 | $5 | 5.51% | $80 | $1 | 7.14% | $77 | $1 | 6.35% |
| Loans and leases <sup>(1)</sup> | 48186 | 717 | 5.92% | 41164 | 618 | 5.96% | 37539 | 571 | 6.05% |
| Taxable securities | 9996 | 105 | 4.23% | 8523 | 93 | 4.35% | 7851 | 78 | 3.97% |
| Non-taxable securities <sup>(2)</sup> | 1268 | 14 | 4.53% | 950 | 10 | 4.26% | 831 | 8 | 3.80% |
| Temporary investments and interest-bearing cash | 1923 | 19 | 3.82% | 1793 | 20 | 4.40% | 1573 | 19 | 4.80% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets <sup>(1), (2)</sup> | 61679 | $860 | 5.55% | 52510 | $742 | 5.62% | 47871 | $677 | 5.63% |
| Goodwill and other intangible assets | 2217 |  |  | 1719 |  |  | 1528 |  |  |
| Other assets | 3218 |  |  | 2594 |  |  | 2189 |  |  |
| Total assets | $67114 |  |  | $56823 |  |  | $51588 |  |  |
| **INTEREST-BEARING LIABILITIES:** |  |  |  |  |  |  |  |  |  |
| Interest-bearing demand deposits | $11052 | $51 | 1.81% | $9630 | $53 | 2.17% | $8563 | $52 | 2.43% |
| Money market deposits | 17010 | 94 | 2.22% | 13476 | 83 | 2.46% | 11441 | 73 | 2.53% |
| Savings deposits | 2463 | 1 | 0.12% | 2358 | 1 | 0.16% | 2393 | 1 | 0.11% |
| Time deposits | 6741 | 49 | 2.88% | 6481 | 58 | 3.57% | 5849 | 63 | 4.30% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 37266 | 195 | 2.08% | 31945 | 195 | 2.43% | 28246 | 189 | 2.66% |
| Repurchase agreements and federal funds purchased | 184 | 1 | 2.16% | 176 | 1 | 2.15% | 198 | 1 | 1.95% |
| Borrowings | 2581 | 27 | 4.20% | 2648 | 30 | 4.54% | 3076 | 40 | 5.16% |
| Junior and other subordinated debentures | 436 | 8 | 7.53% | 430 | 9 | 7.99% | 420 | 9 | 8.81% |
| Total interest-bearing liabilities | 40467 | $231 | 2.27% | 35199 | $235 | 2.65% | 31940 | $239 | 2.98% |
| Non-interest-bearing deposits | 17902 |  |  | 14627 |  |  | 13569 |  |  |
| Other liabilities | 931 |  |  | 840 |  |  | 853 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities | 59300 |  |  | 50666 |  |  | 46362 |  |  |
| Common equity | 7814 |  |  | 6157 |  |  | 5226 |  |  |
| Total liabilities and shareholders' equity | $67114 |  |  | $56823 |  |  | $51588 |  |  |
| **NET INTEREST INCOME** <sup>(2)</sup> |  | $629 |  |  | $507 |  |  | $438 |  |
| **NET INTEREST SPREAD** <sup>(2)</sup> |  |  | 3.28% |  |  | 2.97% |  |  | 2.65% |
| **NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN** <sup>(1), (2)</sup> |  |  | 4.06% |  |  | 3.84% |  |  | 3.64% |

---

<sup>(1)</sup> Non-accrual loans and leases are included in the average balance.

<sup>(2)</sup> Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $2 million for the three months ended December 31, 2025, as compared to $2 million for the three months ended September 30, 2025 and $1 million for the three months ended December 31, 2024.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** | **Consolidated Average Balance Sheets, Net Interest Income, and Yields/Rates** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** |
| | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** | **December 31, 2024** | **December 31, 2024** | **December 31, 2024** |
| ***($ in millions)*** | **Average Balance** | **Interest Income or Expense** | **Average Yields or Rates** | **Average Balance** | **Interest Income or Expense** | **Average Yields or Rates** |
| **INTEREST-EARNING ASSETS:** | | | | | | |
| Loans held for sale | $129 | $8 | 5.98% | $69 | $4 | 6.50% |
| Loans and leases <sup>(1)</sup> | 41198 | 2450 | 5.95% | 37585 | 2316 | 6.15% |
| Taxable securities | 8543 | 353 | 4.14% | 7929 | 317 | 4.00% |
| Non-taxable securities <sup>(2)</sup> | 960 | 40 | 4.20% | 834 | 32 | 3.78% |
| Temporary investments and interest-bearing cash | 1659 | 71 | 4.26% | 1696 | 90 | 5.32% |
| &nbsp;&nbsp;&nbsp;Total interest-earning assets <sup>(1), (2)</sup> | 52489 | $2922 | 5.57% | 48113 | $2759 | 5.73% |
| Goodwill and other intangible assets | 1729 |  |  | 1574 |  |  |
| Other assets | 2561 |  |  | 2228 |  |  |
| &nbsp;&nbsp;&nbsp;Total assets | $56779 |  |  | $51915 |  |  |
| **INTEREST-BEARING LIABILITIES:** |  |  |  |  |  |  |
| Interest-bearing demand deposits | $9391 | $198 | 2.11% | $8266 | $215 | 2.60% |
| Money market deposits | 13483 | 319 | 2.37% | 10998 | 300 | 2.73% |
| Savings deposits | 2365 | 3 | 0.13% | 2529 | 3 | 0.13% |
| Time deposits | 6373 | 227 | 3.56% | 6220 | 285 | 4.58% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 31612 | 747 | 2.36% | 28013 | 803 | 2.87% |
| Repurchase agreements and federal funds purchased | 190 | 4 | 2.11% | 212 | 5 | 2.30% |
| Borrowings | 2830 | 128 | 4.53% | 3692 | 190 | 5.15% |
| Junior and other subordinated debentures | 433 | 34 | 7.87% | 419 | 39 | 9.28% |
| &nbsp;&nbsp;&nbsp;Total interest-bearing liabilities | 35065 | $913 | 2.61% | 32336 | $1037 | 3.21% |
| Non-interest-bearing deposits | 14735 |  |  | 13609 |  |  |
| Other liabilities | 853 |  |  | 910 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities | 50653 |  |  | 46855 |  |  |
| Common equity | 6126 |  |  | 5060 |  |  |
| &nbsp;&nbsp;&nbsp;Total liabilities and shareholders' equity | $56779 |  |  | $51915 |  |  |
| **NET INTEREST INCOME** <sup>(2)</sup> |  | $2009 |  |  | $1722 |  |
| **NET INTEREST SPREAD** <sup>(2)</sup> |  |  | 2.96% |  |  | 2.52% |
| **NET INTEREST INCOME TO EARNING ASSETS OR NET INTEREST MARGIN** <sup>(1), (2)</sup> |  |  | 3.83% |  |  | 3.57% |

---

<sup>(1)</sup> Non-accrual loans and leases are included in the average balance.

<sup>(2)</sup> Tax-exempt income was adjusted to a tax equivalent basis at a 21% tax rate. The amount of such adjustment was an addition to recorded income of approximately $6 million for the year ended December 31, 2025, as compared to $4 million for the year ended December 31, 2024.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **%** | **%** |
| ***($ in millions)*** | **Dec 31, 2025** | **Dec 31, 2025** | **Sep 30, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **<u>Residential mortgage banking revenue:</u>** | | | | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Origination and sale | $| 5 | $| 5 | $| 5 | $| 4 | $| 5 | —% | —% |
| &nbsp;&nbsp;&nbsp;Servicing | 6 | 6 | 5 | 5 | 6 | 6 | 6 | 6 | 6 | 6 | 20% | —% |
| Change in fair value of MSR asset: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Changes due to collection/realization of expected cash flows over time | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | —% | —% |
| &nbsp;&nbsp;&nbsp;Changes due to valuation inputs or assumptions | (1) | (1) |  |  | (2) | (2) | (1) | (1) | 7 | 7 | nm | (114)% |
| MSR hedge gain (loss) |  |  |  |  | 2 | 2 | 3 | 3 | (8) | (8) | nm | nm |
| Total | $| 7 | $| 7 | $| 8 | $| 9 | $| 7 | —% | —% |
| Closed loan volume for sale | $| 176 | $| 166 | $| 164 | $| 136 | $| 175 | 6% | 1% |
| Gain on sale margin | 2.84 | 2.84% | 3.01 | 3.01% | 2.77 | 2.77% | 3.23 | 3.23% | 2.58 | 2.58% | -0.17 | 0.26 |
| **<u>Residential mortgage servicing rights:</u>** |  |  |  |  |  |  |  |  |  |  |  |  |
| Balance, beginning of period | $| 101 | $| 103 | $| 106 | $| 108 | $| 102 | (2)% | (1)% |
| Additions for new MSR capitalized | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 100% | —% |
| Change in fair value of MSR asset: |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Changes due to collection/realization of expected cash flows over time | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | —% | —% |
| &nbsp;&nbsp;&nbsp;Changes due to valuation inputs or assumptions | (1) | (1) |  |  | (2) | (2) | (1) | (1) | 7 | 7 | nm | (114)% |
| Balance, end of period | $| 99 | $| 101 | $| 103 | $| 106 | $| 108 | (2)% | (8)% |
| Residential mortgage loans serviced for others | $| 7755 | $| 7797 | $| 7852 | $| 7888 | $| 7939 | (1)% | (2)% |
| MSR as % of serviced portfolio | 1.28 | 1.28% | 1.30 | 1.30% | 1.31 | 1.31% | 1.34 | 1.34% | 1.36 | 1.36% | (0.02) | (0.08) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** | **Residential Mortgage Banking Activity** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **% Change** |
| ***($ in millions)*** | **Dec 31, 2025** | **Dec 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Year over Year** |
| **<u>Residential mortgage banking revenue:</u>** | | | | | |
| &nbsp;&nbsp;&nbsp;Origination and sale | $| 19 | $| 16 | 19% |
| &nbsp;&nbsp;&nbsp;Servicing | 23 | 23 | 24 | 24 | (4)% |
| Change in fair value of MSR asset: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Changes due to collection/realization of expected cash flows over time | (12) | (12) | (12) | (12) | 0% |
| &nbsp;&nbsp;&nbsp;Changes due to valuation inputs or assumptions | (4) | (4) | 5 | 5 | (180)% |
| &nbsp;&nbsp;&nbsp;MSR hedge gain (loss) | 5 | 5 | (9) | (9) | nm |
| Total | $| 31 | $| 24 | 29% |
| Closed loan volume for sale | $| 642 | $| 564 | 14% |
| Gain on sale margin | 2.96 | 2.96% | 2.86 | 2.86% | 0.10 |
| **<u>Residential mortgage servicing rights:</u>** |  |  |  |  |  |
| Balance, beginning of period | $| 108 | $| 109 | (1)% |
| Additions for new MSR capitalized | 7 | 7 | 6 | 6 | 17% |
| Change in fair value of MSR asset: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Changes due to collection/realization of expected cash flows over time | (12) | (12) | (12) | (12) | 0% |
| &nbsp;&nbsp;&nbsp;Changes due to valuation inputs or assumptions | (4) | (4) | 5 | 5 | (180)% |
| Balance, end of period | $| 99 | $| 108 | (8)% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

**<u>Non-GAAP Financial Measures</u>**

In addition to results presented in accordance with generally accepted accounting principles in the United States of America ("GAAP"), this press release contains certain non-GAAP financial measures. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names.

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** | **GAAP to Non-GAAP Reconciliation** |
| **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** | **Tangible Capital, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions, except per-share data)*** | | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **Total shareholders' equity** | **a** | $**7840** | $**7790** | $**5342** | $**5238** | $**5118** | 1% | 53% |
| &nbsp;&nbsp;&nbsp;Less: Goodwill |  | 1482 | 1481 | 1029 | 1029 | 1029 | —% | 44% |
| &nbsp;&nbsp;&nbsp;Less: Other intangible assets, net |  | 712 | 754 | 430 | 456 | 484 | (6)% | 47% |
| **Tangible common shareholders' equity** | **b** | $**5646** | $**5555** | $**3883** | $**3753** | $**3605** | 2% | 57% |
| **Total assets** | **c** | $**66832** | $**67496** | $**51901** | $**51519** | $**51576** | (1)% | 30% |
| &nbsp;&nbsp;&nbsp;Less: Goodwill |  | 1482 | 1481 | 1029 | 1029 | 1029 | —% | 44% |
| &nbsp;&nbsp;&nbsp;Less: Other intangible assets, net |  | 712 | 754 | 430 | 456 | 484 | (6)% | 47% |
| **Tangible assets** | **d** | $**64638** | $**65261** | $**50442** | $**50034** | $**50063** | (1)% | 29% |
| **Common shares outstanding at period end** *(in thousands)* | **e** | **295422** | **299147** | **210213** | **210112** | **209536** | (1)% | 41% |
| Total shareholders' equity to total assets ratio | **a / c** | 11.73% | 11.54% | 10.29% | 10.17% | 9.92% | 0.19 | 1.81 |
| Tangible common equity to tangible assets ratio | **b / d** | 8.73% | 8.51% | 7.70% | 7.50% | 7.20% | 0.22 | 1.53 |
| Book value per common share | **a / e** | $26.54 | $26.04 | $25.41 | $24.93 | $24.43 | 2% | 9% |
| Tangible book value per common share | **b / e** | $19.11 | $18.57 | $18.47 | $17.86 | $17.20 | 3% | 11% |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions)*** | | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **<u>Non-Interest Income Adjustments</u>** | | | | | | | | | |
| &nbsp;&nbsp;&nbsp;Gain (loss) on investment securities, net |  | 2 | 2 | $|  | 2 | (1) | —% | nm |
| &nbsp;&nbsp;&nbsp;Gain (loss) on swap derivatives |  | 1 | (1) | (1) | (1) | (1) | 3 | nm | (67)% |
| &nbsp;&nbsp;&nbsp;Gain (loss) on loans held for investment, at fair value |  |  | 4 |  |  | 7 | (7) | (100)% | nm |
| &nbsp;&nbsp;&nbsp;Change in fair value of MSR due to valuation inputs or assumptions |  | (1) |  | (2) | (2) | (1) | 7 | nm | (114)% |
| &nbsp;&nbsp;&nbsp;MSR hedge gain (loss) |  |  |  | 2 | 2 | 3 | (8) | nm | nm |
| **Total non-interest income adjustments** | **a** | **2** | **5** | **$** | **(1)** | **10** | **(6)** | (60)% | nm |
| **<u>Non-Interest Expense Adjustments</u>** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Merger and restructuring expense |  | 39 | 87 | $| 8 | 14 | 2 | (55)% | nm |
| &nbsp;&nbsp;&nbsp;Exit and disposal costs |  | 1 |  |  |  | 1 | 1 | nm | —% |
| &nbsp;&nbsp;&nbsp;FDIC special assessment |  | (5) | (1) |  |  |  |  | 400% | nm |
| &nbsp;&nbsp;&nbsp;Legal settlement and other non-operating expense |  | 4 |  |  |  | 55 |  | nm | nm |
| **Total non-interest expense adjustments** | **b** | **39** | **86** | **$** | **8** | **70** | **3** | (55)% | nm |
| **Net interest income** | **c** | **627** | **505** | **$** | **446** | **425** | **437** | 24% | 43% |
| **Non-interest income (GAAP)** | **d** | **90** | **77** | **$** | **65** | **66** | **50** | 17% | 80% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (2) | (5) | 1 | 1 | (10) | 6 | (60)% | (133)% |
| **Operating non-interest income (non-GAAP)** | **e** | **88** | **72** | **$** | **66** | **56** | **56** | 22% | 57% |
| **Revenue (GAAP)** | **f=c+d** | **717** | **582** | **$** | **511** | **491** | **487** | 23% | 47% |
| **Operating revenue (non-GAAP)** | **g=c+e** | **715** | **577** | **$** | **512** | **481** | **493** | 24% | 45% |
| **Non-interest expense (GAAP)** | **h** | **412** | **393** | **$** | **278** | **340** | **267** | 5% | 54% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest expense adjustments | **b** | (39) | (86) | (8) | (8) | (70) | (3) | (55)% | nm |
| **Operating non-interest expense (non-GAAP)** | **i** | **373** | **307** | **$** | **270** | **270** | **264** | 21% | 41% |
| **Net income (GAAP)** | **j** | **215** | **96** | **$** | **152** | **87** | **143** | 124% | 50% |
| Provision for income taxes |  | 67 | 23 | 51 | 51 | 37 | 49 | 191% | 37% |
| Income before provision for income taxes |  | 282 | 119 | 203 | 203 | 124 | 192 | 137% | 47% |
| Provision for credit losses |  | 23 | 70 | 30 | 30 | 27 | 28 | (67)% | (18)% |
| **Pre-provision net revenue (PPNR) (non-GAAP)** | **k** | **305** | **189** | **233** | **233** | **151** | **220** | 61% | 39% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (2) | (5) | 1 | 1 | (10) | 6 | (60)% | (133)% |
| &nbsp;&nbsp;&nbsp;Add: Non-interest expense adjustments | **b** | 39 | 86 | 8 | 8 | 70 | 3 | (55)% | nm |
| **Operating PPNR (non-GAAP)** | **l** | **342** | **270** | **$** | **242** | **211** | **229** | 27% | 49% |
| **Net income (GAAP)** | **j** | **215** | **96** | **$** | **152** | **87** | **143** | 124% | 50% |
| &nbsp;&nbsp;&nbsp;Acquisition-related provision expense |  |  | 70 |  |  |  |  | (100)% | nm |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (2) | (5) | 1 | 1 | (10) | 6 | (60)% | (133)% |
| &nbsp;&nbsp;&nbsp;Add: Non-interest expense adjustments | **b** | 39 | 86 | 8 | 8 | 70 | 3 | (55)% | nm |
| &nbsp;&nbsp;&nbsp;Tax effect of adjustments |  | (9) | (43) | (1) | (1) | (8) | (2) | (79)% | 350% |
| **Operating net income (non-GAAP)** | **m** | **243** | **204** | **$** | **160** | **139** | **150** | 19% | 62% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions, shares in thousands)*** | | **Dec 31, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **Average assets** | **n** | $**67114** | $**56823** | $**51552** | $**51453** | $**51588** | 18% | 30% |
| &nbsp;&nbsp;&nbsp;Less: Average goodwill and other intangible assets, net |  | 2217 | 1719 | 1472 | 1502 | 1528 | 29% | 45% |
| **Average tangible assets** | **o** | $**64897** | $**55104** | $**50080** | $**49951** | $**50060** | 18% | 30% |
| **Average common shareholders' equity** | **p** | $**7814** | $**6157** | $**5287** | $**5217** | $**5226** | 27% | 50% |
| &nbsp;&nbsp;&nbsp;Less: Average goodwill and other intangible assets, net |  | 2217 | 1719 | 1472 | 1502 | 1528 | 29% | 45% |
| **Average tangible common equity** | **q** | $**5597** | $**4438** | $**3815** | $**3715** | $**3698** | 26% | 51% |
| **Weighted average basic shares outstanding** *(in thousands)*  | **r** | **295376** | **237838** | **209125** | **208800** | **208548** | 24% | 42% |
| **Weighted average diluted shares outstanding** *(in thousands)* | **s** | **296760** | **238925** | **209975** | **210023** | **209889** | 24% | 41% |
| **<u>Select Per-Share & Performance Metrics</u>** |  |  |  |  |  |  |  |  |
| Earnings per share - basic | **j / r** | $0.72 | $0.40 | $0.73 | $0.41 | $0.69 | 80% | 4% |
| Earnings per share - diluted | **j / s** | $0.72 | $0.40 | $0.73 | $0.41 | $0.68 | 80% | 6% |
| Efficiency ratio <sup>(1)</sup> | **h / f** | 57.30% | 67.29% | 54.29% | 69.06% | 54.61% | (9.99) | 2.69 |
| Non-interest expense to average assets | **h / n** | 2.44% | 2.74% | 2.16% | 2.68% | 2.06% | (0.30) | 0.38 |
| Return on average assets | **j / n** | 1.27% | 0.67% | 1.19% | 0.68% | 1.10% | 0.60 | 0.17 |
| Return on average tangible assets | **j / o** | 1.31% | 0.69% | 1.22% | 0.70% | 1.14% | 0.62 | 0.17 |
| PPNR return on average assets | **k / n** | 1.80% | 1.32% | 1.81% | 1.19% | 1.70% | 0.48 | 0.10 |
| Return on average common equity | **j / p** | 10.92% | 6.19% | 11.56% | 6.73% | 10.91% | 4.73 | 0.01 |
| Return on average tangible common equity | **j / q** | 15.24% | 8.58% | 16.03% | 9.45% | 15.41% | 6.66 | (0.17) |
| **<u>Operating Per-Share & Performance Metrics</u>** |  |  |  |  |  |  |  |  |
| Operating earnings per share - basic  | **m / r** | $0.82 | $0.86 | $0.77 | $0.67 | $0.72 | (5)% | 14% |
| Operating earnings per share - diluted | **m / s** | $0.82 | $0.85 | $0.76 | $0.67 | $0.71 | (4)% | 15% |
| Operating efficiency ratio, as adjusted <sup>(1)</sup> | **u / y** | 51.39% | 52.32% | 51.79% | 55.11% | 52.51% | (0.93) | (1.12) |
| Operating non-interest expense to average assets | **i / n** | 2.20% | 2.14% | 2.10% | 2.13% | 2.03% | 0.06 | 0.17 |
| Operating return on average assets | **m / n** | 1.44% | 1.42% | 1.25% | 1.10% | 1.15% | 0.02 | 0.29 |
| Operating return on average tangible assets | **m / o** | 1.49% | 1.47% | 1.28% | 1.13% | 1.19% | 0.02 | 0.30 |
| Operating PPNR return on average assets | **l / n** | 2.02% | 1.89% | 1.88% | 1.67% | 1.77% | 0.13 | 0.25 |
| Operating return on average common equity | **m / p** | 12.34% | 13.15% | 12.16% | 10.87% | 11.40% | (0.81) | 0.94 |
| Operating return on average tangible common equity | **m / q** | 17.22% | 18.24% | 16.85% | 15.26% | 16.11% | (1.02) | 1.11 |

---

<sup>(1)</sup> Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **Quarter Ended** | **% Change** | **% Change** |
| ***($ in millions)*** | | **Dec 31, 2025** | **Dec 31, 2025** | **Sep 30, 2025** | **Sep 30, 2025** | **Jun 30, 2025** | **Jun 30, 2025** | **Mar 31, 2025** | **Mar 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Seq. Quarter** | **Year over Year** |
| **Non-interest expense (GAAP)** | **h** | **$** | **412** | **$** | **393** | **$** | **278** | **$** | **340** | **$** | **267** | 5% | 54% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest expense adjustments | **b** | (39) | (39) | (86) | (86) | (8) | (8) | (70) | (70) | (3) | (3) | (55)% | nm |
| **Operating non-interest expense (non-GAAP)** | **i** | 373 | 373 | 307 | 307 | 270 | 270 | 270 | 270 | 264 | 264 | 21% | 41% |
| &nbsp;&nbsp;&nbsp;Less: B&O taxes | **t** | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (3) | (4) | (4) | —% | (25)% |
| **Operating non-interest expense, excluding B&O taxes (non-GAAP)** | **u** | **$** | **370** | **$** | **304** | **$** | **267** | **$** | **267** | **$** | **260** | 22% | 42% |
| **Net interest income (tax equivalent)** <sup>(1)</sup> | **v** | **$** | **629** | **$** | **507** | **$** | **447** | **$** | **426** | **$** | **438** | 24% | 44% |
| **Non-interest income (GAAP)** | **d** | **90** | **90** | **77** | **77** | **65** | **65** | **66** | **66** | **50** | **50** | 17% | 80% |
| &nbsp;&nbsp;&nbsp;Add: BOLI tax equivalent adjustment <sup>(1)</sup> | **w** | 3 | 3 | 2 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 50% | 200% |
| &nbsp;&nbsp;&nbsp;Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) | **x** | 722 | 722 | 586 | 586 | 514 | 514 | 493 | 493 | 489 | 489 | 23% | 48% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (2) | (2) | (5) | (5) | 1 | 1 | (10) | (10) | 6 | 6 | (60)% | (133)% |
| **Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)** | **y** | **$** | **720** | **$** | **581** | **$** | **515** | **$** | **483** | **$** | **495** | 24% | 45% |
| Efficiency ratio <sup>(1)</sup> | **h / f** | 57.30 | 57.30% | 67.29 | 67.29% | 54.29 | 54.29% | 69.06 | 69.06% | 54.61 | 54.61% | (9.99) | 2.69 |
| Operating efficiency ratio, as adjusted (non-GAAP) <sup>(1)</sup> | **u / y** | 51.39 | 51.39% | 52.32 | 52.32% | 51.79 | 51.79% | 55.11 | 55.11% | 52.51 | 52.51% | (0.93) | (1.12) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

<sup>(1)</sup> Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

------

Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** | **Income Statements, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Year Ended** | **Year Ended** | **Year Ended** | **% Change** |
| ***($ in millions)*** | | **Dec 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Year over Year** |
| **<u>Non-Interest Income Adjustments</u>** | | | | | |
| &nbsp;&nbsp;&nbsp;Gain on investment securities, net |  | 6 | $|  | nm |
| &nbsp;&nbsp;&nbsp;(Loss) gain on swap derivatives |  | (2) | 1 | 1 | (300)% |
| &nbsp;&nbsp;&nbsp;Gain (loss) on loans held for investment, at fair value |  | 11 | (10) | (10) | nm |
| &nbsp;&nbsp;&nbsp;Change in fair value of MSR due to valuation inputs or assumptions |  | (4) | 5 | 5 | (180)% |
| &nbsp;&nbsp;&nbsp;MSR hedge gain (loss) |  | 5 | (9) | (9) | nm |
| **Total non-interest income adjustments** | **a** | **16** | **$** | **(13)** | nm |
| **<u>Non-Interest Expense Adjustments</u>** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Merger and restructuring expense |  | 148 | $| 24 | nm |
| &nbsp;&nbsp;&nbsp;Exit and disposal costs |  | 2 | 4 | 4 | (50)% |
| &nbsp;&nbsp;&nbsp;FDIC special assessment  |  | (6) | 5 | 5 | (220)% |
| &nbsp;&nbsp;&nbsp;Legal settlement and other non-operating expense |  | 59 |  |  | nm |
| **Total non-interest expense adjustments** | **b** | **203** | **$** | **33** | nm |
| **Net interest income** | **c** | **2003** | **$** | **1718** | 17% |
| **Non-interest income (GAAP)** | **d** | **298** | **$** | **211** | 41% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (16) | 13 | 13 | (223)% |
| **Operating non-interest income (non-GAAP)** | **e** | **282** | **$** | **224** | 26% |
| **Revenue (GAAP)** | **f=c+d** | **2301** | **$** | **1929** | 19% |
| **Operating revenue (non-GAAP)** | **g=c+e** | **2285** | **$** | **1942** | 18% |
| **Non-interest expense (GAAP)** | **h** | **1423** | **$** | **1104** | 29% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest expense adjustments | **b** | (203) | (33) | (33) | nm |
| **Operating non-interest expense (non-GAAP)** | **i** | **1220** | **$** | **1071** | 14% |
| **Net income (GAAP)** | **j** | **550** | **$** | **534** | 3% |
| Provision for income taxes |  | 178 | 185 | 185 | (4)% |
| Income before provision for income taxes |  | 728 | 719 | 719 | 1% |
| Provision for credit losses |  | 150 | 106 | 106 | 42% |
| **Pre-provision net revenue (PPNR) (non-GAAP)** | **k** | **878** | **825** | **825** | 6% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (16) | 13 | 13 | (223)% |
| &nbsp;&nbsp;&nbsp;Add: Non-interest expense adjustments | **b** | 203 | 33 | 33 | nm |
| **Operating PPNR (non-GAAP)** | **l** | **1065** | **$** | **871** | 22% |
| **Net income (GAAP)** | **j** | **550** | **$** | **534** | 3% |
| &nbsp;&nbsp;&nbsp;Acquisition-related provision expense |  | 70 |  |  | nm |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (16) | 13 | 13 | (223)% |
| &nbsp;&nbsp;&nbsp;Add: Non-interest expense adjustments | **b** | 203 | 33 | 33 | nm |
| &nbsp;&nbsp;&nbsp;Tax effect of adjustments |  | (61) | (12) | (12) | 408% |
| **Operating net income (non-GAAP)** | **m** | **746** | **$** | **568** | 31% |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |  |
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** | **Average Balances, Earnings Per Share, and Performance Metrics, as adjusted** |  |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |  |
| | | **Year Ended** | **Year Ended** | **% Change** |  |
| ***($ in millions, shares in thousands)*** | | **Dec 31, 2025** | **Dec 31, 2024** | **Year over Year** |  |
| **Average assets** | **n** | $**56779** | $**51915** | 9% |  |
| &nbsp;&nbsp;&nbsp;Less: Average goodwill and other intangible assets, net |  | 1729 | 1574 | 10% |  |
| **Average tangible assets** | **o** | $**55050** | $**50341** | 9% |  |
| **Average common shareholders' equity** | **p** | $**6126** | $**5060** | 21% |  |
| &nbsp;&nbsp;&nbsp;Less: Average goodwill and other intangible assets, net |  | 1729 | 1574 | 10% |  |
| **Average tangible common equity** | **q** | $**4397** | $**3486** | 26% |  |
| **Weighted average basic shares outstanding** | **r** | **238022** | **208463** | 14% |  |
| **Weighted average diluted shares outstanding** | **s** | **239121** | **209337** | 14% |  |
| **<u>Select Per-Share & Performance Metrics</u>** |  |  |  |  |  |
| Earnings per share - basic | **j / r** | $2.31 | $2.56 | (10)% |  |
| Earnings per share - diluted | **j / s** | $2.30 | $2.55 | (10)% |  |
| Efficiency ratio <sup>(1)</sup> | **h / f** | 61.68% | 57.14% | 4.54 |  |
| Non-interest expense to average assets | **h/n** | 2.51% | 2.13% | 0.38 |  |
| Return on average assets | **j / n** | 0.97% | 1.03% | (0.06) |  |
| Return on average tangible assets | **j / o** | 1.00% | 1.06% | (0.06) |  |
| PPNR return on average assets | **k/n** | 1.55% | 1.59% | (0.04) |  |
| Return on average common equity | **j / p** | 8.98% | 10.55% | (1.57) |  |
| Return on average tangible common equity | **j / q** | 12.51% | 15.31% | (2.80) |  |
| **<u>Operating Per-Share & Performance Metrics</u>** |  |  |  |  |  |
| Operating earnings per share - basic  | **m / r** | $3.13 | $2.73 | 15% |  |
| Operating earnings per share - diluted | **m / s** | $3.12 | $2.71 | 15% |  |
| Operating efficiency ratio, as adjusted <sup>(1)</sup> | **u / y** | 52.54% | 54.22% | (1.68) |  |
| Operating non-interest expense to average assets | **i/n** | 2.15% | 2.06% | 0.09 |  |
| Operating return on average assets  | **m / n** | 1.31% | 1.09% | 0.22 |  |
| Operating return on average tangible assets  | **m / o** | 1.36% | 1.13% | 0.23 |  |
| Operating PPNR return on average assets  | **l / n** | 1.88% | 1.68% | 0.20 |  |
| Operating return on average common equity  | **m / p** | 12.18% | 11.23% | 0.95 |  |
| Operating return on average tangible common equity  | **m / q** | 16.97% | 16.30% | 0.67 |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(1)</sup> Tax-exempt interest was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

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Columbia Banking System, Inc. Reports Fourth Quarter 2025 Results

January 22, 2026

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** | **Columbia Banking System, Inc.** |
| **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** | **GAAP to Non-GAAP Reconciliation - Continued** |
| **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** | **Operating Efficiency Ratio, as adjusted** |
| **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** | **(Unaudited)** |
| | | **Year Ended** | **Year Ended** | **Year Ended** | **Year Ended** | **% change** |
| ***($ in millions)*** | | **Dec 31, 2025** | **Dec 31, 2025** | **Dec 31, 2024** | **Dec 31, 2024** | **Year over Year** |
| **Non-interest expense (GAAP)** | **h** | **$** | **1423** | **$** | **1104** | 29% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest expense adjustments | **b** | (203) | (203) | (33) | (33) | nm |
| **Operating non-interest expense (non-GAAP)** | **i** | 1220 | 1220 | 1071 | 1071 | 14% |
| &nbsp;&nbsp;&nbsp;Less: B&O taxes | **t** | (12) | (12) | (13) | (13) | (8)% |
| **Operating non-interest expense, excluding B&O taxes (non-GAAP)** | **u** | **$** | **1208** | **$** | **1058** | 14% |
| **Net interest income (tax equivalent)** <sup>(1)</sup> | **v** | **$** | **2009** | **$** | **1722** | 17% |
| **Non-interest income (GAAP)** | **d** | **298** | **298** | **211** | **211** | 41% |
| &nbsp;&nbsp;&nbsp;Add: BOLI tax equivalent adjustment <sup>(1)</sup> | **w** | 8 | 8 | 6 | 6 | 33% |
| &nbsp;&nbsp;&nbsp;Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) | **x** | 2315 | 2315 | 1939 | 1939 | 19% |
| &nbsp;&nbsp;&nbsp;Less: Non-interest income adjustments | **a** | (16) | (16) | 13 | 13 | (223)% |
| **Total Adjusted Operating Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP)** | **y** | **$** | **2299** | **$** | **1952** | 18% |
| Efficiency ratio <sup>(1)</sup> | **h /f** | 61.68 | 61.68% | 57.14 | 57.14% | 4.54 |
| Operating efficiency ratio, as adjusted (non-GAAP) <sup>(1)</sup> | **u / y** | 52.54 | 52.54% | 54.22 | 54.22% | (1.68) |
| nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." | nm = Percentage changes greater than +/-500% are considered not meaningful and are presented as "nm." |

---

<sup>(1)</sup> Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

## Exhibit 99.2

![](colb2025q4earningspresen001.jpg)

4th Quarter 2025 Earnings Presentation January 22, 2026

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![](colb2025q4earningspresen002.jpg)

Disclaimer FORWARD-LOOKING STATEMENTS This communication may contain certain forward-looking statements, including, but not limited to, certain plans, expectations, goals, projections, and statements about the benefits of the acquisition of Pacific Premier Bancorp, Inc. ("Pacific Premier") by Columbia Banking System, Inc. ("Columbia") the plans, objectives, expectations and intentions of Columbia and other statements that are not historical facts. Such statements are subject to numerous assumptions, risks, and uncertainties. All statements other than statements of historical fact, including statements about beliefs and expectations, are forward-looking statements. Forward-looking statements may be identified by words such as "expect," "anticipate," "believe," "intend," "estimate," "plan," "believe," "target," "goal," or similar expressions, or future or conditional verbs such as "will," "may," "might," "should," "would," "could," or similar variations. The forward-looking statements are intended to be subject to the safe harbor provided by Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995. In this presentation we make forward-looking statements about strategic and growth initiatives and the result of such activity. Risks and uncertainties that could cause results to differ from forward-looking statements we make include, without limitation: current and future economic and market conditions, including the effects of declines in housing and commercial real estate prices, high unemployment rates, renewed inflation and any recession or slowdown in economic growth particularly in the western United States; economic forecast variables that are either materially worse or better than end of quarter projections and deterioration in the economy that could result in increased loan and lease losses, especially those risks associated with concentrations in real estate related loans; risks related to our acquisition of Pacific Premier (the "Transaction"), including, among others, (i) diversion of management's attention from ongoing business operations and opportunities, (ii) cost savings and any revenue or expense synergies from the Transaction may not be fully realized or may take longer than anticipated to be realized, (iii) deposit attrition, customer or employee loss, and/or revenue loss as a result of the Transaction, and (iv) shareholder litigation that could negatively impact our business and operations; the impact of proposed or imposed tariffs by the U.S. government and retaliatory tariffs proposed or imposed by U.S. trading partners that could have an adverse impact on customers; our ability to effectively manage problem credits; the impact of bank failures or adverse developments at other banks on general investor sentiment regarding the liquidity and stability of banks; changes in interest rates that could significantly reduce net interest income and negatively affect asset yields and valuations and funding sources; changes in the scope and cost of FDIC insurance and other coverage; our ability to successfully implement efficiency and operational excellence initiatives; our ability to successfully develop and market new products and technology; changes in laws or regulations; potential adverse reactions or changes to business or employee relationships; the effect of geopolitical instability, including wars, conflicts and terrorist attacks; and natural disasters and other similar unexpected events outside of our control. We also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of Columbia, market conditions, capital requirements, applicable law and regulations (including federal securities laws and federal banking and state regulations), and other factors deemed relevant by Columbia's Board of Directors. NON-GAAP FINANCIAL MEASURES In addition to results presented in accordance with GAAP, this presentation contains certain non-GAAP financial measures. A reconciliation of GAAP to non-GAAP measures is included in the Appendix. The Company believes presenting certain non-GAAP financial measures provides investors with information useful in understanding our financial performance, our performance trends, and our financial position. We utilize these measures for internal planning and forecasting purposes, and operating pre-provision net revenue and operating return on tangible common equity are also used as part of our incentive compensation program for our executive officers. We, as well as securities analysts, investors, and other interested parties, also use these measures to compare peer company operating performance. We believe that our presentation and discussion, together with the accompanying reconciliations, provides a complete understanding of factors and trends affecting our business and allows investors to view performance in a manner similar to management. These non-GAAP measures should not be considered a substitution for GAAP basis measures and results, and we strongly encourage investors to review our consolidated financial statements in their entirety and not to rely on any single financial measure. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures with other companies' non-GAAP financial measures having the same or similar names. 2

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![](colb2025q4earningspresen003.jpg)

West-Focused Regional Powerhouse 3 Completed Western Footprint(3) Why Columbia? ■ Business Bank of Choice strategy cultivates a granular, low-cost core deposit base ■ Compelling culture and Community Banking at Scale business model foster deep community ties while also attracting and retaining top banking talent ■ Scaled western franchise is difficult to replicate and provides scarcity value ■ Opportunity to organically gain share in California and growing metros in the West while increasing density in the Northwest ■ Strong credit quality is supported by a diversified, well-structured, and conservatively underwritten loan portfolio ■ Solid capital generation supports long-term organic growth and return to shareholders Columbia at a Glance C or po ra te Ticker COLB Market Capitalization(1) $8.8 billion Dividend Yield(1) 5.0% Fi na nc ia ls a s of D ec em be r 3 1, 2 02 5 Assets $66.8 billion Loans $47.8 billion Deposits $54.2 billion Common Equity Tier 1 Capital Ratio(2) 11.8% Total Capital Ratio(2) 13.6% (1) Market data as of January 21, 2026. (2) Regulatory capital ratios are estimates pending completion and filing of Columbia's regulatory reports. (3) Columbia is headquartered in Tacoma, Washington and operates approximately 350 branches throughout the Western United States.

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![](colb2025q4earningspresen004.jpg)

Operating in Large, Attractive Western Markets 4 Established Presence throughout the West(1) Northwest (population in millions) Seattle, WA Portland, OR California and Nevada Los Angeles, CA Sacramento, CA Other West Phoenix, AZ Denver, CO 4.2mm 2.5mm 12.9mm 2.5mm 5.3mm 3.0mm Top Regional Bank in Northwest (WA, OR, ID)(1) Total Northwest Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr 1 Bank of America (NC) $3,404 $58 16.5 % 2 U.S. Bancorp (MN) 695 51 14.4 % 3 JPMorgan (NY) 4,560 44 12.4 % 4 Wells Fargo (CA) 2,063 40 11.3 % 5 COLB (WA) 67 35 9.8 % 6 KeyCorp (OH) 187 19 5.3 % 7 WaFd (WA) 27 13 3.6 % 8 Banner Corp. (WA) 17 11 3.1 % 4th Largest Regional Bank HQ'd in Footprint(1) Total Eight-State Footprint Rank Bank (HQ State) Assets ($B) Deposits ($B) Mkt Shr 1 Western Alliance (AZ) $91 $70 1.9 % 2 Zions (UT) 89 59 1.6 % 3 East West (CA) 80 51 1.4 % 4 COLB (WA) 67 56 1.5 % 5 Banc of California (CA) 34 22 0.6 % 6 WaFd (WA) 27 19 0.5 % 7 Cathay General (CA) 24 16 0.4 % 8 Mechanics (CA) 23 19 0.5 % Strong Foothold in Attractive Markets(1) ■ Our market share in the Northwest stands with large national and super regional banks, at nearly 10% ■ Our foothold in top western markets and scaled franchise provide us the opportunity to increase share in California, Arizona, Colorado, and Utah ■ Densely populated metropolitan areas provide opportunity for our bankers to take market share as we grow where businesses are growing ■ Current household income in our footprint is 110% of the national average, and the five-year growth rate of 13.0% compares favorably to 11.3% nationally Boise, ID Salt Lake City, UT Las Vegas, NV 0.9mm 2.4mm 1.3mm (1) Population, household income, and asset data sourced from S&P Global Market Intelligence. Total assets as of September 30, 2025 and adjusted to a pro forma basis for recently closed acquisitions, if applicable. Deposits and market share data sourced from the Federal Deposit Insurance Corporation ("FDIC") as of June 30, 2025 and adjusted to a pro forma basis. Groups represent banks headquartered in the United States, and money center banks are excluded from the footprint analysis (bottom table).

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![](colb2025q4earningspresen005.jpg)

Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Seattle 4,201 $140,795 $7,662 5.4 % Portland 2,547 65,434 5,513 8.4 % Boise 868 17,945 224 1.3 % Spokane 608 14,405 4,045 28.1 % Opportunity to Increase Density and Gain Share throughout Our Footprint 5 Improve Competitive Position in California Broaden Presence in Other Western MarketsEnhance Density in the Northwest Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Phoenix 5,286 $180,133 $209 0.1 % Denver 3,080 107,870 58 0.1 % Salt Lake City 1,316 85,459 21 <0.1% Las Vegas 2,444 81,196 98 0.1 % Population Deposits ($mm) COLB MSA(1) (000s) Market COLB Mkt Shr Los Angeles 12,907 $651,914 $10,190 1.6 % Sacramento 2,472 94,585 1,884 2.0 % San Francisco 4,643 456,511 480 0.1 % San Diego 3,304 107,742 873 0.8 % (1) Population, deposit, and market share data sourced from S&P Global Market Intelligence. Deposits and market share data as of June 30, 2025, and adjusted to a pro forma basis by S&P.

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![](colb2025q4earningspresen006.jpg)

Leveraging Technology to Improve Collaboration and Performance 6 Enhancing the Customer Experience Driving Revenue Generation Creating Operational Efficiencies ■ Building upon our recently acquired, best- in-class API marketplace to expand our embedded banking capabilities ■ Enhancing relationship banking with AI- powered "Smart Leads" provides opportunities to generate fee income through predictive analytics ■ Continuing to invest in new payment technologies, including instant payment platforms, integrated receivables and payables, and Zelle for Business ■ Deploying digital international banking solutions, including an online foreign exchange portal for real time FX quotes and trades ■ Offering differentiated small business and commercial online banking platforms by integrating technologies ■ Enhancing fraud protection and prevention measures to minimize customer losses and increase core fee income for the bank ■ Updating our online account opening process to make it easier and more convenient for customers ■ Strengthening our bank security and risk management with advanced authentication technology to safeguard our customers across digital platforms ■ Embracing AI capabilities to improve associate productivity ■ Accelerating application development through automation of code generation, debugging, and documentation ■ Deploying AI-powered virtual assistants to augment human agents in our contact center ■ Automating tasks and streamlining operations to enhance efficiency and improve the customer experience; our goal is to be the most convenient bank for our associates (internally) and our customers (externally) Our customer-focused technology stack is built on resilient, scalable, and secure systems to advance our Business Bank of Choice operating strategy. We embrace technology to not only create operational efficiencies, but also to support an elevated customer experience and to drive additional revenue opportunities through needs-based solutions.

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![](colb2025q4earningspresen007.jpg)

Financial Highlights 7

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![](colb2025q4earningspresen008.jpg)

Fourth Quarter 2025 Performance Highlights 8 ■ Closed our acquisition of Pacific Premier on August 31, 2025, and integration efforts continue to progress smoothly. We remain on track to complete the systems conversion and branch consolidations during the first quarter of 2026. We continue to expect to realize all related cost savings by June 30, 2026. ■ Completed our third deposit campaign of 2025 in mid-November, generating $473 million in deposits. Inclusive of two campaigns completed earlier in 2025, Columbia generated $1.3 billion in new customer deposits through our three successful small business and retail campaigns. Our next campaign begins in February. ■ Columbia repurchased 3.7 million common shares under its current repurchase plan at an average price of $27.07 during Q4 2025. We intend to continue returning excess capital to our shareholders through our existing share repurchase authorization, which had $600 million remaining as of December 31, 2025. ■ Ivan Seda assumed the role of Executive Vice President, Chief Financial Officer, effective December 31, 2025, as previously announced. Mr. Seda joined Columbia in August 2025 as Executive Vice President, Deputy Chief Financial Officer, supporting a seamless leadership transition. Reported Operating(1) $215 million $243 million Net Income Net Income $305 million $342 million Pre-Provision Net Revenue(1) Pre-Provision Net Revenue $0.72 $0.82 Earnings-per-Share - Diluted Earnings-per-Share - Diluted 1.27% 1.44% Return on Assets Return on Assets 1.80% 2.02% PPNR Return on Assets(1) PPNR Return on Assets 10.92% 12.34% Return on Equity Return on Equity 15.24% 17.22% Return on Tangible Common Equity(1) Return on Tangible Common Equity (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement for each is provided in the Appendix of this slide presentation.

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![](colb2025q4earningspresen009.jpg)

YTD 2025 Performance Highlights 9 ■ Our results for the twelve months ended December 31, 2025 were impacted by merger expense and the initial provision associated with our acquisition of Pacific Premier in Q3 2025. On an operating basis, pre-provision net revenue and net income increased 22% and 31%, respectively, compared to the twelve months ended December 31, 2024, as profitability ratios and earnings-per-share also improved(1). ■ We continue to focus on operational enhancements, including balance sheet optimization, growing sustainable core fee income, and maintaining our cost-conscious culture and disciplined credit standards, in pursuit of consistent, repeatable returns and top-quartile performance. ■ Treasury management and commercial card income increased 19% and 8%, respectively, for the twelve months ended December 31, 2025, compared to the twelve months ended December 31, 2024. Other key contributors to core fee income, like financial services and trust revenue and international banking revenue, also expanded notably in 2025, rising 71% and 44%, respectively, compared to 2024, partly driven by the acquisition of Pacific Premier. ■ Total common equity tier 1 ("CET1") ratio of 11.8%(2) as of December 31, 2025 highlights 130 basis points of net capital generation since December 31, 2024, inclusive of Columbia's acquisition of Pacific Premier and share repurchases in Q4 2025. Reported Operating(1) $550 million $746 million Net Income Net Income $878 million $1,065 million Pre-Provision Net Revenue(1) Pre-Provision Net Revenue $2.30 $3.12 Earnings-per-Share - Diluted Earnings-per-Share - Diluted 0.97% 1.31% Return on Assets Return on Assets 1.55% 1.88% PPNR Return on Assets(1) PPNR Return on Assets 8.98% 12.18% Return on Equity Return on Equity 12.51% 16.97% Return on Tangible Common Equity(1) Return on Tangible Common Equity (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement for each is provided in the Appendix of this slide presentation. (2) Regulatory capital ratios are estimates pending completion and filing of Columbia's regulatory reports.

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![](colb2025q4earningspresen010.jpg)

Our Diversified Commercial Bank Business Model with a Strong Retail Network Supports our Granular, High-Quality Deposit Base Non-interest, 32% Demand, 20% Money Market, 31% Savings, 5% Time, 12% Enterprise-wide Deposit Composition 10 ■ Deposits were $54.2 billion as of December 31, 2025 and represented by a granular base that is diversified by business line, industry, and geography. Our average customer account balance is $44 thousand.(1) ■ Our use of public and brokered deposits as a source of funding beyond term debt impacts the composition of our enterprise-wide deposit portfolio. We believe our customer deposit composition(1) is more illustrative of the quality of Columbia's core deposit franchise. Our bankers' activity is geared toward protecting the quality of our relationship-based franchise while generating net customer balance growth to reduce the need for non- core funding sources over time. Commercial, 24% Commercial - Small Business, 28% Consumer, 38% Brokered, 4% Public & Other, 6% Deposits by Category Customer Deposit Composition(1) Non-interest, 34% Demand, 20% Money Market, 31%Savings, 5% Time, 10% (1) Excludes all public, administrative, and brokered deposits, as detailed on the "Liquidity Overview" slide in the Appendix. Excluded balances accounted for 10% of total deposits as of December 31, 2025. This is a non-GAAP financial measure. $54.2 Billion $54.2 Billion $48.8 Billion

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![](colb2025q4earningspresen011.jpg)

Available-for-Sale Securities Portfolio as of December 31, 2025 ($ in millions) Current Par Amortized Cost Unrealized Gains Unrealized Losses Fair Value % of Total AFS Portfolio Effective Duration Book Yield U.S. Treasuries $210 $209 $0 ($1) $209 2 % 1.6 3.59 % U.S. Agencies 1,111 1,122 $6 ($37) 1,091 10 % 2.6 2.73 % Mortgage-backed securities - residential agency 4,407 4,046 $18 ($214) 3,850 35 % 6.4 3.92 % Collateralized mortgage obligations(1) 1,732 1,573 $16 ($76) 1,514 14 % 5.9 4.03 % Obligations of states and political subdivisions 1,875 1,597 $47 ($15) 1,629 15 % 5.9 4.00 % Commercial mortgage-backed securities - agency 2,912 2,828 $29 ($38) 2,819 25 % 3.9 4.59 % Total available for sale securities $12,248 $11,376 $116 ($380) $11,112 5.2 3.99 % Percentage of current par 93% 1% (3%) 91% 11 Securities Portfolio Overview Note: Table may not foot due to rounding. (1) Portfolio includes $232 million in high-quality non-agency collateralized mortgage obligations ("CMO") that were in a small unrealized gain position as of December 31, 2025 (amortized cost of $227 million). The remaining $1.3 billion of the portfolio is comprised primarily of residential agency CMOs. ■ The total available-for-sale ("AFS") securities portfolio had a book yield of 3.99% and an effective duration of 5.2 as of December 31, 2025, compared to 3.97% and 5.3, respectively, as of September 30, 2025. ■ As of December 31, 2025, 57% of the AFS securities portfolio (by fair value) was in an unrealized gain position and had a weighted average book yield of 4.72%. The remaining 43% of the portfolio was in an unrealized loss position and had a weighted average book yield of 3.10%. Unrealized Gain, 57% Unrealized Loss, 43% Available-for-Sale Securities Portfolio % at Gain / Loss as of December 31, 2025

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![](colb2025q4earningspresen012.jpg)

Loan Roll Forward Activity $ in m illi on s Three Months Ended December 31, 2025 $48,462 $1,388 ($173) ($1,032) ($879) $10 $47,776 Beginning Balance (9/30/2025) New Originations Net Advances/ (Payments) Prepayments Payoffs or Sales Other Ending Balance (12/31/2025) 12 $ in m illi on s Three Months Ended December 31, 2024 $37,503 $1,129 ($109) ($502) ($353) $13 $37,681 Beginning Balance (9/30/2024) New Originations Net Advances/ (Payments) Prepayments Payoffs or Sales Other Ending Balance (12/31/2024) $ in m illi on s Twelve Months Ended December 31, 2025 $37,681 $4,485 ($746) ($2,914) ($2,249) $11,520 $47,776 Beginning Balance (12/31/2024) New Originations Net Advances/ (Payments) Prepayments Payoffs or Sales Other¹ Ending Balance (12/31/2025) $ in m illi on s Twelve Months Ended December 31, 2024 $37,442 $3,685 ($380) ($1,845) ($1,307) $86 $37,681 Beginning Balance (12/31/2023) New Originations Net Advances/ (Payments) Prepayments Payoffs or Sales Other Ending Balance (12/31/2024) Note: Totals may not foot due to rounding. (1) Other includes $11.4 billion in loans acquired from Pacific Premier at fair value.

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Diversified, High Quality Loan and Lease Portfolio Note: Portfolio statistics and delinquencies as of December 31, 2025. Annualized net charge-off rates for Q4 2025. Loan-to-value ("LTV"), FICO, and debt service coverage ("DSC") ratios are based on weighted averages for portfolios where data are available. LTV represents average LTV based on most recent appraisal against updated loan balance. Totals may not foot due to rounding. • Portfolio average loan size of $470,000 • 4Q25 average loan size of $380,000 • Portfolio average FICO of 760 and LTV of 60% • 4Q25 average FICO of 769 and LTV of 57% • Total delinquencies of 1.41% • Annualized net charge-off (recovery) rate of 0.03% Non-owner Occupied CRE • Portfolio average loan size of $1.9 million • 4Q25 average loan size of $3.1 million • Portfolio average LTV of 50% and DSC of 1.88 • 4Q25 average LTV of 54% and DSC of 1.71 • Total delinquencies of 0.38% • Annualized net charge-off (recovery) rate of 0.38% Commercial & Industrial • Portfolio average loan size of $794,000 • 4Q25 average loan size of $1.7 million • Total delinquencies of 1.04% • Annualized net charge-off (recovery) rate of 0.24% Multifamily • Portfolio average loan size of $2.3 million • 4Q25 average loan size of $1.2 million • Portfolio average LTV of 54% and DSC of 1.57 • 4Q25 average LTV of 53% and DSC of 1.42 • Total delinquencies of 0.02% • Annualized net charge-off (recovery) rate of 0.00% Owner Occupied CRE • Portfolio average loan size of $1.2 million • 4Q25 average loan size of $2.2 million • Portfolio average LTV of 55% • 4Q25 average LTV of 71% • Total delinquencies of 0.46% • Annualized net charge-off (recovery) rate of 0.04% Lease & Equipment Finance (FinPac) • Portfolio average loan & lease size of $42,000 • 4Q25 average loan & lease size of $65,000 • Portfolio average yield: ~10% • Total delinquencies of 3.55% • Annualized net charge-off (recovery) rate of 3.46% Puget Sound, 16% WA Other, 6% Portland Metro, 11% OR Other, 11% Bay Area, 6%Northern CA, 8% Southern CA, 25% Other, 17% Mortgage, 12% FinPac, 3% C&I, 22% Owner Occupied CRE, 15% Non-OO CRE, 17% Multifamily, 22% Other Loan Categories, 9% Portfolio Composition at December 31, 2025 Geographic Distribution at December 31, 2025 Mortgage 13

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C&I and CRE Portfolio Composition Agriculture, 8.5% Contractors, 8.1% Finance/Insurance, 8.3% Manufacturing, 8.8% Professional, 3.6% Public Admin, 5.8%Rental & Leasing, 5.8% Retail, 3.3% Support Services, 4.2% Transportation/ Warehousing, 6.4% Wholesale, 7.6% Gaming, 9.1% Dentists, 5.3% Other Healthcare, 4.6% Other, 10.6% Office, 13.7% Multifamily, 40.1% Industrial, 14.6% Retail, 10.0% Special Purpose, 7.5% Hotel/Motel, 3.8% Other, 10.3% CRE Portfolio Composition(1)C&I Portfolio Composition(1) Note: Data as of December 31, 2025.Totals may not foot due to rounding. (1) C&I portfolio composition includes term, lines of credit & other, and leases & equipment finance balances. CRE portfolio composition includes non-owner occupied term and owner occupied term balances as well as multifamily balances. (2) Owner occupied and non-owner occupied disclosure relates to commercial real estate portfolio excluding multifamily loans. 47% Owner Occupied / 53% Non-Owner Occupied(2)Commercial Line Utilization: 38% 14 $12.0 Billion $25.8 Billion

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Office Portfolio Details Puget Sound, 14% WA Other, 7% Portland Metro, 13% OR Other, 19% Bay Area, 4% N. CA, 8% S. CA, 19% Other, 16% Office Portfolio Metrics at December 31, 2025 Average loan size $1.4 million Average LTV 57% DSC (non-owner occupied) 1.80x % with guaranty (by $/ by #) 86% / 86% Past due 30-89 days $2.2mm / 0.06% of office Nonaccrual $15.1mm / 0.41% of office Special mention $46.1mm / 1.26% of office Classified $90.8mm / 2.47% of office Number of Loans by Balance Geography 15 ■ Loans secured by office properties represented 8% of our total loan portfolio as of December 31, 2025. ■ Our office portfolio is 45% owner occupied, 53% non-owner occupied, and 3% construction. Dental and other healthcare loans compose 22% of our office portfolio. ■ The average loan size in our office portfolio is $1.4 million. ■ Delinquencies were at a very low level as of December 31, 2025, and the majority of our loans contain a guaranty. ■ Excluding floating rate loans, only 15% of our office portfolio reprices through 2027. Loans repricing in 2026 and 2027 have average balances of $0.4 million and $0.5 million, respectively. 1,746 441 71 38 7 6 <$1mm $1-5mm $5-10mm $10-20mm $20-30mm >$30mm 2026, 10% 2027, 5% 2028, 3% 2029 & After, 12% Fixed Rate¹, 69% Floating Rate, 1% Repricing Schedule (1) Loans with a swap component are displayed as a fixed rate loan if the swap maturity is equal to the maturity of the loan. If the swap matures prior to the loan, the loan is displayed as adjustable with the rate resetting at the time of the swap maturity. 2026, 6% 2027, 9% 2028, 8% 2029 & After, 77% Maturity Schedule , 19 8 9 6 7 1,855 627 93 9 4

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Continued Strong Credit Quality Provision Expense, Net Charge-Offs to Average Loans, and Nonperforming Assets to Total Assets $28 $27 $30 $— $23 $70 0.27% 0.32% 0.31% 0.22% 0.25% 0.33% 0.35% 0.35% 0.29% 0.30% Provision Expense ($mm) Acquisition-Related Provision Expense ($mm)¹ Net Charge-Offs / Average Loans (annualized) Non-Performing Assets / Total Assets Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 16 Allowance for Credit Losses ("ACL") $441 $438 $439 $492 $485 $60 $57 $52 $157 $144 1.17% 1.17% 1.17% 1.01% 1.02% 1.33% 1.32% 1.31% 1.34% 1.32% ACL ($mm) Credit Discount ($mm) ACL / Total Loans and Leases ACL + Credit Discount / Total Loans and Leases Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ■ The remaining credit discount on loans of $144 million as of December 31, 2025 provides an additional 30 basis points of loss absorption when added to the ACL of $485 million. ■ Net charge-offs in the FinPac portfolio were $14 million in Q4 2025, compared to $16 million in Q3 2025. Net charge-offs excluding the FinPac portfolio were $16 million, or 0.13% of average bank loans, in Q4 2025, compared to $6 million, or 0.06% of average bank loans, in Q3 2025. ■ Nonperforming loans of $198 million as of December 31, 2025 include $79 million of loans with government guarantees. (1) Acquisition-related provision expense of $70 million was booked in Q3 2025, related to non-purchased credit deteriorated ("PCD") loans and unfunded commitments acquired during Q3 2025. Non-acquisition-related provision expense was $0 for Q3 2025.

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ACL Reflects Strong Portfolio Credit Metrics (1) Total includes reserve for unfunded commitments of $19 million as of both December 31, 2025 and September 30, 2025. 17 ■ Our reserve coverage by loan segment and for the overall loan and lease portfolio reflects our robust underwriting criteria and ongoing, routine portfolio monitoring activities. For example, we stress applicable variables, such as interest rates, cash flows, and occupancy, at inception and loan review and limit borrower proceeds as a result. These factors contribute to lower LTVs and higher DSC ratios, which are taken into consideration in the estimation of our ACL. ■ The quarter's provision expense of $23 million reflects loan portfolio runoff, credit migration trends, charge-off activity, and changes in the economic forecasts used in credit models. We used components of Moody's Analytics' November 2025 consensus economic forecast and Moody's Analytics' November 2025 S2 scenario to estimate our ACL as of December 31, 2025. Allowance for Credit Losses by Loan Segment ($ in millions) Commercial Lease & Equipment Commercial Real Estate Residential & Home Equity Consumer Total(1) Remaining Credit Discount on Loans Total ACL including Credit Discount on Loans(1) Balance as of September 30, 2025 $140 $92 $215 $37 $8 $492 $157 $649 Q4 2025 Net charge-offs (6) (14) (8) (1) (1) (30) Q4 2025 Reserve build (release) 8 13 1 (1) 2 23 Balance as of December 31, 2025 $142 $91 $208 $35 $9 $485 $144 $629 % of Loans and leases outstanding 1.37% 5.69% 0.75% 0.45% 5.06% 1.02% 1.32%

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Capital Management 18 Regulatory Capital Ratios: Bank & Holding Company as of December 31, 2025 9.7% 12.3% 12.3% 13.2% 9.4% 11.8% 11.8% 13.6% Columbia Bank Columbia Banking System Tier 1 Leverage CET1 Tier 1 Capital Total Risk-Based —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% ■ Columbia remains above current "well-capitalized" regulatory minimums and our long-term target ratios. ■ Columbia repurchased 3.7 million common shares under its current repurchase plan at an average price of $27.07 during the three months ended December 31, 2025. ■ We expect to organically generate capital above what is required to support prudent growth and our regular dividend. We intend to continue returning excess capital to our shareholders through our existing share repurchase authorization, which had $600 million remaining as of December 31, 2025. We regard share repurchases as an additional tool to prudently and proactively manage our capital ratios in 2026 and beyond. Note: Columbia Bank and Columbia Banking System, Inc. long-term capital ratio targets reflect a targeted excess level of capital above regulatory well-capitalized minimums inclusive of the capital conservation buffer ("CCB") where applicable. The minimum capital ratios to be considered well capitalized inclusive of the CCB are 7.0%, 8.5%, and 10.5% for the common equity tier 1 ("CET1") ratio, tier 1 capital ratio, and total risk-based capital ratio, respectively. The CCB does not apply to the tier 1 leverage ratio, which has a well-capitalized minimum level of 5.0%. All regulatory capital ratios as of December 31, 2025 are estimates pending completion and filing of Columbia's and Columbia Bank's regulatory reports. Capital Ratios Continued to Trend Up 10.5% 10.6% 10.8% 11.6% 11.8% 12.8% 12.9% 13.0% 13.4% 13.6% COLB: CET1 Ratio COLB: Total RBC Ratio 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 —% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 12% Long-Term Target 10% Long-Term Target 9% Long-Term Target 6.5% Long-Term Target

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Net Interest Income and Net Interest Margin Net Interest Income and Net Interest Margin $437 $425 $446 $505 $627 3.64% 3.60% 3.75% 3.84% 4.06% Net Interest Income ($ in millions) Net Interest Margin Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Net Interest Margin: Q3 2025 vs Q4 2025 3.84% (0.04)% (0.03)% 0.22% 0.07% 4.06% Q3 2025 Reported Loans Cash Deposits Term Debt Q4 2025 Reported 19 ■ Net interest margin increased 22 basis points from the prior quarter to 4.06% for Q4 2025, as it benefited from lower funding costs. The net interest margin also was impacted by two additional months operating as a combined company, which includes an 8-basis point benefit related to the amortization of a premium on acquired time deposits, as described below, and a 3-basis point benefit related to an accelerated loan repayment. ■ The cost of interest-bearing deposits decreased 35 basis points from the prior quarter to 2.08% for Q4 2025. The cost of interest-bearing liabilities decreased 38 basis points from the prior quarter to 2.27% for Q4 2025. The cost of interest-bearing deposits benefited from the amortization of a premium related to Pacific Premier's time deposits, which contributed $12 million to net interest income during Q4 2025, compared to $4 million during Q3 2025, favorably impacting deposit rates in each quarter. The premium was fully amortized as of December 31, 2025. Excluding this impact, the cost of interest-bearing deposits was 2.20% for Q4 2025, compared to 2.09% for the month of December and 2.06% as of December 31, 2025. The declining cost of deposits reflects our proactive management of deposit rates ahead of and following reductions to the federal fund rates.

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Select Asset and Liability Maturity and Repricing Schedules (in Months) at December 31, 2025 ($ in millions) <=3 4 to 6 7 to 12 13 to 24 25 to 36 >36 Total % Total(3) Loans Fixed (maturity)(2) $444 $200 $450 $1,088 $1,109 $12,374 $15,665 32% Floating (repricing)(2) 15,427 — — — — — 15,427 32% Adjustable (repricing) 819 1,385 2,283 2,762 2,057 8,142 17,448 36% Total Loans $16,690 $1,585 $2,733 $3,850 $3,166 $20,516 $48,540 100% Time deposits (maturity)(4) $3,834 $1,863 $769 $80 $10 $18 $6,574 Average rate(4) 3.71% 3.24% 2.84% 1.21% 0.19% 0.23% 3.43% Term debt (maturity) $3,200 $— $— $— $— $— $3,200 Average rate 3.97% 3.97% Interest Rate Sensitivity 20 Note: Tables may not foot due to rounding. Loan totals on this slide do not include purchase accounting adjustments. Deferred fees and costs also drive variances between loan totals on this slide and loan totals in the earnings press release. (1) For the scenarios shown, the interest rate simulations assume a parallel and sustained shift in market interest rates ratably over a twelve-month period (ramp) or immediately (shock). The simulation repricing betas applied to interest-bearing deposits in the rising rate and declining rate scenarios are 49% and 49%, respectively, for December 31, 2025. Additional data related to interest rate simulations are available in Columbia's Annual Report on Form 10-K for the fiscal year ended December 31, 2024. (2) Commercial tranche loans that mature in one month are included in the floating rate loan category, not the fixed rate loan category, as these loans reprice in a manner similar to floating rate loans. (3) Floating rate loans are indexed to prime (8% of the total loan portfolio) and 1-month underlying interest rates (24% of the total loan portfolio). When adjustable rate loans reprice, they are indexed to interest rates that span 1-month tenors to 10-year tenors as well as the prime rate; the most prevalent underlying index rates are 6-month tenors (17% of the total loan portfolio), 1-year tenors (9% of the portfolio), and 5-year tenors (7% of the total loan portfolio). (4) Time deposits maturing in 3 months or less include $2.1 billion in customer CDs at an average rate of 3.51% and $1.7 billion in brokered CDs at an average rate of 3.94%. (5) Deposit and funding repricing beta data present combined company results as if historical Columbia and historical Umpqua Holdings Corporation were one company for all periods through December 31, 2022; subsequent time periods present data on a legal basis given the merger. The beta presentation is calculated in this manner for comparison purposes. (6) The cost of interest-bearing deposits, total deposits, and total funding for the three months ended December 31, 2025 is calculated excluding a $12 million benefit related to the amortization of a premium on acquired time deposits. On a reported basis, which includes the benefit of the premium amortization, the cost of these items was 2.08%, 1.40%, and 1.57% and the repricing betas were 62%, 43%, and 54%, respectively, between Q4 2025 and Q2 2024. Interest Rate Simulation Impact on Net Interest Income at December 31, 2025(1) Ramp Shock Year 1 Year 2 Year 1 Year 2 Up 200 basis points 0.0% 3.4% 0.4% 5.3% Up 100 basis points 0.0% 1.6% 0.2% 2.5% Down 100 basis points 0.3% (1.4)% 0.2% (2.3)% Down 200 basis points 2.2% (1.6)% 1.9% (3.6)% Down 300 basis points 5.3% (1.5)% 5.0% (4.9)% Deposit and Funding Repricing Betas During Current Rate Cycle Effective Fed Funds Rate (Daily Avg.) Cost of: Three Months Ended Interest- Bearing Deposits Total Deposits Total Funding December 31, 2021(5) 0.08% 0.10% 0.05% 0.09% December 31, 2022(5) 3.65% 0.62% 0.35% 0.51% December 31, 2023 5.33% 2.54% 1.63% 2.05% June 30, 2024 5.33% 2.97% 2.01% 2.34% Variance: Q2 2024 less Q4 2021 5.25% 2.87% 1.96% 2.25% Repricing Betas: Rising Rate Cycle 55% 37% 43% December 31, 2024 4.66% 2.66% 1.80% 2.09% December 31, 2025(6) 3.90% 2.20% 1.48% 1.65% Variance: Q4 2025 less Q2 2024 (1.43)% (0.77)% (0.53)% (0.69)% Repricing Betas: Declining Rate Cycle-to-Date 54% 37% 48%

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Non-Interest Income 21 $ in m ill io ns Total Non-Interest Income $50 $66 $65 $77 $90 $56 $56 $66 $72 $88 GAAP Non-Interest Income Operating Non-Interest Income¹ Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ■ Non-interest income for Q4 2025 increased $13 million from the prior quarter. Operating non-interest income(1) increased $16 million from the prior quarter to $88 million, as Pacific Premier contributed an additional $13 million to Q4 2025's run rate. Customer fee income, including swap and international banking revenue, drove the remainder of the increase. ■ Our Business Bank of Choice strategy incorporates a collaborative team approach to deliver needs-based solutions to our customers, which deepens relationships and provides growth in sustainable core fee income. Our trends reflect a growing contribution from treasury management, card & merchant activity, wealth management, and other product revenue over the trailing 12 months. $ in m ill io ns Operating Non-Interest Income¹ $56 $56 $66 $72 $88 Other Treasury Mgmt Card & Merchant Wealth Mgmt Deposit Services Mortgage Loan Income Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. Non-operating non-interest income items include gain (loss) on investment securities, gain (loss) on swap derivatives, gain (loss) on loans held for investment at fair value, change in fair value of MSR due to valuation inputs or assumptions, and MSR hedge gain (loss). These items are detailed in the "Non-GAAP Reconciliation" section of the Appendix.

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Non-Interest Expense 22 $ in m ill io ns Non-Interest Expense ("NIE") $267 $340 $278 $393 $412 $264 $270 $270 $307 $373 GAAP Non-Interest Expense Operating Non-Interest Expense¹ Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 ■ Non-interest expense for Q4 2025 increased $19 million from the prior quarter, as two additional months operating as a combined company more than offset lower merger expense. Operating non-interest expense(1) increased $66 million from the prior quarter to $373 million, as Pacific Premier contributed an additional $62 million to Q4 2025, as compared to the prior quarter's run rate. The Pacific Premier run rate includes deal-related cost savings, and we remain on track to complete the systems conversion and branch consolidations during Q1 2026. We continue to expect to realize all related cost savings by June 30, 2026. ■ Our cost-conscious culture provides expense offsets to continued investment in customer-focused technology, experienced bankers, and strategic locations. These investments create operational efficiency and bring additional revenue opportunities to the bank in support of our Business Bank of Choice strategy. $ in m ill io ns Non-Interest Expense: Q3 2025 vs Q4 2025 $393 $62 $2 $1 $1 $(47) $412 Q3 2025 NIE Pacific Premier Software Costs Marketing Misc. Other Non- operating¹ Q4 2025 NIE (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. Non-operating expense items include merger and restructuring expense, exit and disposal costs, an FDIC special assessment, a legal settlement, and other non-operating expenses. These items are detailed in the "Non-GAAP Reconciliation" section of the Appendix.

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23 Appendix

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Balance Sheet Optimization: Below-Market-Rate Transactional Loans to Reprice or Run-Off 24 Below-Market-Rate Transactional Loan Balances & Repricing Schedule as of December 31, 2025 September 30, 2025 < 1 year 1 to 2 years 2 to 3 years > 3 years Total Total ($ in millions) Balance Rate Balance Rate Balance Rate Balance Rate Balance Rate Balance Rate Transactional Loans(1) Non-owner occupied CRE $232 5.29% $117 4.47% $43 4.70% $155 4.29% $547 4.79% $654 4.64% Multifamily 2,240 4.59% 881 3.80% 781 3.64% 1,340 3.89% 5,242 4.14% 5,384 4.13% Residential mortgage 323 4.34% 283 3.98% 244 3.93% 1,212 3.70% 2,063 3.87% 2,115 3.87% Total Transactional Loans $2,795 4.62% $1,282 3.90% $1,067 3.75% $2,707 3.83% $7,852 4.11% $8,153 4.10% Non-transactional loans and leases 40,688 41,234 Total Loans and Leases $48,540 $49,387 Prioritizing Relationships & Profitability ■ Our relationship-based lending verticals and a strong core deposit base remain the cornerstone of our franchise. Past transactional lending and the wholesale sources that fund these assets have muted the balance sheet's profitability, but they have not diluted the quality of our core franchise. ■ As below-market-rate transactional loans reach their repricing date, our profitability will improve, as loans will either reprice higher and remain on balance sheet or refinance elsewhere, exiting the balance sheet, with proceeds used to reduce higher-cost funding. ■ Current interest rates make outright asset sales unattractive given a lengthy payback period. However, longer term, we may sell loans opportunistically if payback periods are short and align with value preservation and creation.Note: Tables may not foot due to rounding. Loan totals on this slide do not include purchase accounting adjustments. Deferred fees and costs also drive variances between loan totals on this slide and loan totals in the earnings press release. (1) Below-market-rate transactional loans are defined as loans where the customer relationship had a zero deposit balance as of the initial measurement date. Presented interest rates reflect loan coupon rates.

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Liquidity Overview Total Available Liquidity at December 31, 2025 ($ in millions) Total off-balance sheet liquidity (available lines of credit): $20,999 Cash and equivalents, less reserve requirement 2,204 Excess collateral 4,680 Total available liquidity $27,883 TOTAL AVAILABLE LIQUIDITY AS A PERCENTAGE OF: Assets of $66.8 billion at December 31, 2025 42 % Deposits of $54.2 billion at December 31, 2025 51 % Uninsured deposits of $19.8 billion at December 31, 2025 141 % Total Off-Balance Sheet Liquidity Available at December 31, 2025 ($ in millions) Gross Availability Utilization Net Availability FHLB lines $17,188 $3,379 $13,809 Federal Reserve Discount Window 6,490 — 6,490 Uncommitted lines of credit 700 — 700 Total off-balance sheet liquidity $24,378 $3,379 $20,999 25 ■ Deposits declined during Q4 2025, due to an intentional reduction in brokered and select public deposits, as alternative funding sources offered a more attractive interest rate. Seasonal decreases in customer deposits balances—driven by company distributions, tax payments, and other year-end payouts—further contributed to the contraction. We utilized borrowings to supplement funding needs. Select Balance Sheet Items Three Months Ended Sequential Quarter Change ($ in millions) Q4 2025 Q3 2025 Q4 2024 Q4 2025 Commercial deposits $12,999 $13,062 $11,787 ($63) Small business deposits 15,422 16,099 7,886 (677) Consumer deposits 20,337 20,434 15,893 (97) Total customer deposits 48,758 49,595 35,566 (837) Public deposits - non-interest bearing 729 720 636 9 Public deposits - interest bearing 2,185 2,743 2,351 (558) Total public deposits 2,914 3,463 2,987 (549) Administrative deposits 184 248 137 (64) Brokered deposits 2,355 2,465 3,031 (110) Total deposits $54,211 $55,771 $41,721 ($1,560) Term debt $3,200 $2,300 $3,100 $900 Cash & cash equivalents $2,380 $2,343 $1,878 $37 Available-for-sale securities $11,112 $11,013 $8,275 $99 Loans and leases $47,776 $48,462 $37,681 ($686) Note: Tables may not foot due to rounding.

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Summary Income Statements Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided at the end of this slide presentation. For the Quarter Ended ($ in millions, except per-share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Net interest income before provision $627 $505 $446 $425 $437 Provision for credit losses 23 70 30 27 28 Net interest income after provision 604 435 416 398 409 Non-interest income 90 77 65 66 50 Non-interest expense 412 393 278 340 267 Income before provision for income taxes 282 119 203 124 192 Provision for income taxes 67 23 51 37 49 Net income $215 $96 $152 $87 $143 Earnings per share, diluted $0.72 $0.40 $0.73 $0.41 $0.68 Operating non-interest expense(1) $373 $307 $270 $270 $264 Pre-provision net revenue(1) $305 $189 $233 $151 $220 Operating pre-provision net revenue(1) $342 $270 $242 $211 $229 Operating net income(1) $243 $204 $160 $139 $150 Operating earnings per share, diluted(1) $0.82 $0.85 $0.76 $0.67 $0.71 26 Q4 2025 Highlights (compared to Q3 2025) ■ Net interest income increased by $122 million, due to two additional months operating as a combined company and lower interest expense due to favorable funding mix trends. ■ Non-interest income increased by $13 million. Excluding the impact of fair value and hedges,(1) non-interest income increased by $16 million, due to two additional months operating as a combined company and an increase in customer fee income. ■ Non-interest expense increased by $19 million, due to two additional months operating as a combined company, partially offset by lower merger expense. ■ Provision expense was $23 million, compared to $70 million for the prior quarter, which was driven by the acquisition of Pacific Premier in the prior quarter.

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Summary Period-End Balance Sheets Note: Tables may not foot due to rounding. (1) Non-GAAP financial measure. A reconciliation to the comparable GAAP measurement is provided in the appendix of this slide presentation. ($ in millions, except per-share data) Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 ASSETS: Total assets $66,832 $67,496 $51,901 $51,519 $51,576 Interest bearing cash and temporary investments 1,869 1,808 1,334 1,481 1,381 Investment securities available for sale, fair value 11,112 11,013 8,653 8,229 8,275 Loans and leases, gross 47,776 48,462 37,637 37,616 37,681 Allowance for credit losses on loans and leases (466) (473) (421) (421) (425) Goodwill and other intangibles, net 2,194 2,235 1,459 1,485 1,513 LIABILITIES AND EQUITY: Deposits 54,211 55,771 41,743 42,218 41,721 Securities sold under agreements to repurchase 207 167 191 192 237 Borrowings 3,200 2,300 3,350 2,550 3,100 Total shareholders' equity 7,840 7,790 5,342 5,238 5,118 RATIOS AND PER-SHARE METRICS: Loan to deposit ratio 88.1% 86.9% 90.2% 89.1% 90.3% Book value per common share $26.54 $26.04 $25.41 $24.93 $24.43 Tangible book value per common share(1) $19.11 $18.57 $18.47 $17.86 $17.20 Common equity to assets ratio 11.7% 11.5% 10.3% 10.2% 9.9% Tangible common equity to tangible assets ratio(1) 8.7% 8.5% 7.7% 7.5% 7.2% 27 Q4 2025 Highlights (compared to Q3 2025) ■ Loan balances decreased in Q4 2025, due to continued run-off in commercial development and transactional loans, as well as the sale of $45 million in acquired loans risk rated special mention. Commercial loans increased by 6% on an annualized basis relative to September 30, 2025, partially offsetting the contraction. ■ Total deposits decreased, due to an intentional reduction in public and brokered deposits and seasonal declines in customer deposit balances, reflecting company distributions, tax payments, and other year- end payouts. ■ Book value and tangible book value(1) increased 2% and 3%, respectively, relative to September 30, 2025, and increased 9% and 11%, respectively, relative to December 31, 2024.

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Non-GAAP Reconciliation: Tangible Capital ($ in millions, except per-share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 Total shareholders' equity a $7,840 $7,790 $5,342 $5,238 $5,118 Less: Goodwill 1,482 1,481 1,029 1,029 1,029 Less: Other intangible assets, net 712 754 430 456 484 Tangible common shareholders' equity b $5,646 $5,555 $3,883 $3,753 $3,605 Total assets c $66,832 $67,496 $51,901 $51,519 $51,576 Less: Goodwill 1,482 1,481 1,029 1,029 1,029 Less: Other intangible assets, net 712 754 430 456 484 Tangible assets d $64,638 $65,261 $50,442 $50,034 $50,063 Common shares outstanding at period end (in thousands) e 295,422 299,147 210,213 210,112 209,536 Total shareholders' equity to total assets ratio a / c 11.73 % 11.54 % 10.29 % 10.17 % 9.92 % Tangible common equity to tangible assets ratio b / d 8.73 % 8.51 % 7.70 % 7.50 % 7.20 % Book value per common share a / e $26.54 $26.04 $25.41 $24.93 $24.43 Tangible book value per common share b / e $19.11 $18.57 $18.47 $17.86 $17.20 28

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Non-GAAP Reconciliation: Adjustments and Average Balances For the Quarter Ended For the Year Ended ($ in millions, except share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Non-Interest Income Adjustments Gain on investment securities, net $2 $2 $— $2 ($1) $6 $— Gain (loss) on swap derivatives 1 (1) (1) (1) 3 (2) 1 Gain (loss) on loans held for investment, at fair value — 4 — 7 (7) 11 (10) Change in fair value of MSR due to valuation inputs or assumptions (1) — (2) (1) 7 (4) 5 MSR hedge gain (loss) — — 2 3 (8) 5 (9) Total non-interest income adjustments a $2 $5 ($1) $10 ($6) $16 ($13) Non-Interest Expense Adjustments Merger and restructuring expense $39 $87 $8 $14 $2 $148 $24 Exit and disposal costs 1 — — 1 1 2 4 FDIC special assessment (5) (1) — — — (6) 5 Legal settlement and other non-operating expense 4 — — 55 — $59 $— Total non-interest expense adjustments b $39 $86 $8 $70 $3 $203 $33 Average Assets n $67,114 $56,823 $51,552 $51,453 $51,588 $56,779 $51,915 Less: Average goodwill and other intangible assets, net 2,217 1,719 1,472 1,502 1,528 1,729 1,574 Average tangible assets o $64,897 $55,104 $50,080 $49,951 $50,060 $55,050 $50,341 Average common shareholders' equity p $7,814 $6,157 $5,287 $5,217 $5,226 $6,126 $5,060 Less: Average goodwill and other intangible assets, net 2,217 1,719 1,472 1,502 1,528 1,729 1,574 Average tangible common equity q $5,597 $4,438 $3,815 $3,715 $3,698 $4,397 $3,486 Weighted average basic shares outstanding (in thousands) r 295,376 237,838 209,125 208,800 208,548 238,022 208,463 Weighted average diluted shares outstanding (in thousands) s 296,760 238,925 209,975 210,023 209,889 239,121 209,337 29

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Non-GAAP Reconciliation: Income Statements For the Quarter Ended For the Year Ended ($ in millions) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Net interest income c $627 $505 $446 $425 $437 $2,003 $1,718 Non-interest income (GAAP) d $90 $77 $65 $66 $50 $298 $211 Less: Non-interest income adjustments a (2) (5) 1 (10) 6 (16) 13 Operating non-interest income (non-GAAP) e $88 $72 $66 $56 $56 $282 $224 Revenue (GAAP) f=c+d $717 $582 $511 $491 $487 $2,301 $1,929 Operating revenue (non-GAAP) g=c+e $715 $577 $512 $481 $493 $2,285 $1,942 Non-interest expense (GAAP) h $412 $393 $278 $340 $267 $1,423 $1,104 Less: Non-interest expense adjustments b (39) (86) (8) (70) (3) (203) (33) Operating non-interest expense (non-GAAP) i $373 $307 $270 $270 $264 $1,220 $1,071 Net income (GAAP) j $215 $96 $152 $87 $143 $550 $534 Provision for income taxes 67 23 51 37 49 178 185 Income before provision for income taxes 282 119 203 124 192 728 719 Provision for credit losses 23 70 30 27 28 150 106 Pre-provision net revenue (PPNR) (non-GAAP) k 305 189 233 151 220 878 825 Less: Non-interest income adjustments a (2) (5) 1 (10) 6 (16) 13 Add: Non-interest expense adjustments b 39 86 8 70 3 203 33 Operating PPNR (non-GAAP) l $342 $270 $242 $211 $229 $1,065 $871 Net income (GAAP) j $215 $96 $152 $87 $143 $550 $534 Acquisition-related provision expense — 70 — — — 70 — Less: Non-interest income adjustments a (2) (5) 1 (10) 6 (16) 13 Add: Non-interest expense adjustments b 39 86 8 70 3 203 33 Tax effect of adjustments (9) (43) (1) (8) (2) (61) (12) Operating net income (non-GAAP) m $243 $204 $160 $139 $150 $746 $568 30

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Non-GAAP Reconciliation: Earnings Per-Share and Performance Metrics For the Quarter Ended For the Year Ended ($ in millions, except per-share data) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Select Per-Share & Performance Metrics Earnings per share - basic j/r $0.72 $0.40 $0.73 $0.41 $0.69 $2.31 $2.56 Earnings per share - diluted j/s $0.72 $0.40 $0.73 $0.41 $0.68 $2.30 $2.55 Efficiency ratio(1) h/f 57.30 % 67.29 % 54.29 % 69.06 % 54.61 % 61.68 % 57.14 % Non-interest expense to average assets h/n 2.44 % 2.74 % 2.16 % 2.68 % 2.06 % 2.51 % 2.13 % Return on average assets j/n 1.27 % 0.67 % 1.19 % 0.68 % 1.10 % 0.97 % 1.03 % Return on average tangible assets j/o 1.31 % 0.69 % 1.22 % 0.70 % 1.14 % 1.00 % 1.06 % PPNR return on average assets k/n 1.80 % 1.32 % 1.81 % 1.19 % 1.70 % 1.55 % 1.59 % Return on average common equity j/p 10.92 % 6.19 % 11.56 % 6.73 % 10.91 % 8.98 % 10.55 % Return on average tangible common equity j/q 15.24 % 8.58 % 16.03 % 9.45 % 15.41 % 12.51 % 15.31 % Operating Per-Share & Performance Metrics Operating earnings per share - basic m/r $0.82 $0.86 $0.77 $0.67 $0.72 $3.13 $2.73 Operating earnings per share - diluted m/s $0.82 $0.85 $0.76 $0.67 $0.71 $3.12 $2.71 Operating efficiency ratio, as adjusted(1) u/y 51.39 % 52.32 % 51.79 % 55.11 % 52.51 % 52.54 % 54.22 % Operating non-interest expense to average assets i/n 2.20 % 2.14 % 2.10 % 2.13 % 2.03 % 2.15 % 2.06 % Operating return on average assets m/n 1.44 % 1.42 % 1.25 % 1.10 % 1.15 % 1.31 % 1.09 % Operating return on average tangible assets m/o 1.49 % 1.47 % 1.28 % 1.13 % 1.19 % 1.36 % 1.13 % Operating PPNR return on average assets l/n 2.02 % 1.89 % 1.88 % 1.67 % 1.77 % 1.88 % 1.68 % Operating return on average common equity m/p 12.34 % 13.15 % 12.16 % 10.87 % 11.40 % 12.18 % 11.23 % Operating return on average tangible common equity m/q 17.22 % 18.24 % 16.85 % 15.26 % 16.11 % 16.97 % 16.30 % (1) Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation. 31

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Non-GAAP Reconciliation: Operating Efficiency Ratio, as Adjusted 32 For the Quarter Ended For the Year Ended ($ in millions) 12/31/2025 9/30/2025 6/30/2025 3/31/2025 12/31/2024 12/31/2025 12/31/2024 Non-interest expense (GAAP) h $412 $393 $278 $340 $267 $1,423 $1,104 Less: Non-interest expense adjustments b (39) (86) (8) (70) (3) (203) (33) Operating non-interest expense (non-GAAP) i 373 307 270 270 264 1,220 1,071 Less: B&O taxes t (3) (3) (3) (3) (4) (12) (13) Operating non-interest expense, excluding B&O taxes (non- GAAP) u $370 $304 $267 $267 $260 $1,208 $1,058 Net interest income (tax equivalent)(1) v $629 $507 $447 $426 $438 $2,009 $1,722 Non-interest income (GAAP) d 90 77 65 66 50 298 211 Add: BOLI tax equivalent adjustment(1) w 3 2 2 1 1 8 6 Total Revenue, excluding BOLI tax equivalent adjustments (tax equivalent) x 722 586 514 493 489 2,315 1,939 Less: non-interest income adjustments a (2) (5) 1 (10) 6 (16) 13 Total Adjusted operating revenue, excluding BOLI tax equivalent adjustments (tax equivalent) (non-GAAP) y $720 $581 $515 $483 $495 $2,299 $1,952 Efficiency ratio(1) h/f 57.30 % 67.29 % 54.29 % 69.06 % 54.61 % 61.68 % 57.14 % Operating efficiency ratio, as adjusted (non-GAAP)(1) u/y 51.39 % 52.32 % 51.79 % 55.11 % 52.51 % 52.54 % 54.22 % (1) Tax-exempt income was adjusted to a taxable equivalent basis using a 21% tax rate and added to stated revenue for this calculation.

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