Columbia Banking: 3 Key Takeaways for Long-Term Investors

On its third-quarter 2026 earnings call, held on Oct. 22, 2026, Columbia Banking (NASDAQ:COLB) announced a new $1.2 billion share repurchase program and an expansion of net interest margins. Replacing high-cost institutional debt with customer deposits strengthens the balance sheet while recurring commercial business expands noninterest fee generation. Disciplined execution allows the regional lender to return excess capital while expanding market share across Western states. Three takeaways from the call stand out.

1. New Repurchase Plan Targets $1.2 Billion in Returns

Columbia Banking completed a prior buyback plan that shrank its outstanding share count by 8%. Leveraging ongoing capital creation, leadership authorized a new multiyear repurchase program to deliver continuous shareholder value.

Completion of our existing buyback authorization resulted in an 8% reduction in our common share count, over the duration of the program. Given our confidence in Columbia's long term strategy, and our outlook for continued excess capital generation, our board of directors has authorized a new $1.2 billion share repurchase program.
-- Clint E. Stein, Chairman, Chief Executive Officer and President

2. Wholesale Funding Cuts Boost Net Interest Margins

By replacing $1.5 billion in high-cost wholesale funding -- institutional borrowings rather than customer deposits -- with core client accounts, Columbia Banking expanded its net interest margin, which measures the spread between interest earned on assets and paid on deposits.

Actively managed our funding base using strong customer deposit growth to reduce wholesale funding including public wholesale balances. Between June 30 and September 30, we reduced wholesale funding by 1.5 billion contributing favorably to net interest margin.
-- Ivan Seda, [No title]

3. Full Commercial Relationships Expand High-Margin Fee Income

Rather than competing on price for single transactions, Columbia Banking focuses on securing whole commercial relationships. This approach expands noninterest revenue through products like treasury management, which provides corporate cash management services.

Our focus remains on winning full commercial relationships rather than single product transactions. These broader relationships extend naturally into deposit and fee income opportunities supporting stronger, overall profitability.
-- Torran Nixon, [No title]

Looking Ahead

Consistent execution across 11 consecutive quarters reflects a stable financial foundation, while automation tools enhance banker efficiency across key Western markets.

We have delivered 11 consecutive quarters of predictable financial performance. While continuing to reshape our balance sheet and strengthen the franchise we have built.
-- Clint E. Stein, Chairman, Chief Executive Officer and President

Physical branch locations and dedicated local teams remain central to securing core customer deposits and expanding the value of long-term relationships.

Our customers choose Columbia because of the bankers who know them and their business. Businesses. And our branches remain an important part of how we build and retain these relationships.
-- Clint E. Stein, Chairman, Chief Executive Officer and President

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