Columbia Banking System, Inc. revealed its financial performance for the third quarter, marking a notable increase in profitability. The company reported earnings per share (EPS) of $0.78 and an operating EPS of $0.82, with operating pre-provision net revenue growing 7% sequentially and 25% year over year. The net interest margin expanded to 4.11%, aided by balance-sheet optimization and decreased reliance on wholesale funding.
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Total deposits increased to $52.7 billion, and commercial loans made up 43% of the loan portfolio, despite a modest decline in overall loans. Management indicated that loan balances are expected to remain stable or slightly decrease, with an emphasis on relationship-based commercial lending.
Columbia’s board has authorized a new $1.2 billion share repurchase program, expecting to buy back between $150 million and $200 million in shares during the fourth quarter. The company has consistently prioritized returning excess capital to shareholders, having returned over $1 billion in the past year through dividends and share repurchases, which included an 8% reduction in common shares during the last authorization period.
CFO Ivan Seda noted that the year-over-year gains were also bolstered by the acquisition of Pacific Premier, completed in August 2025. He stated that the net interest margin experienced a 12 basis point sequential increase, adjusted for specific one-time effects related to accelerated repayments and prior credit-interest reversals.