Financial Highlights
- Net income of $145 million
- Diluted EPS of $0.68
- Return on average assets of 1.12%
- Net interest margin of 3.38%
Business Performance
Commercial banking drove growth with C&I loans up 7% and commercial real estate up 3%. The company maintained disciplined underwriting while selectively adding high-quality relationships.
Fee Income Growth
Non-interest income increased 8% year-over-year driven by strong performance in treasury management and card services. Wealth management revenue also grew as assets under management increased.
CEO Commentary
“Columbia Banking System delivered another quarter of consistent execution,” said Clint Stein, President and CEO. “Our diverse Pacific Northwest and Mountain West markets provide attractive growth opportunities, and our team continues to deepen customer relationships.”
Capital Management
The company declared a quarterly dividend of $0.36 per share. Share repurchases totaled $50 million during the quarter. CET1 ratio was 10.8%.