COLUMBIA BANKING SYSTEM INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
COLB$30.85-0.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flow
| (in thousands) | 2023 | 2022 | 2021 |
|---|---|---|---|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income | $348,715 | $336,752 | $420,300 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred income tax expense | 12,895 | 14,383 | 40,805 |
| (Accretion) amortization of investment (discounts) premiums, net | (67,702) | 6,601 | 14,404 |
| Gain on sales of investment securities, net | (13) | (2) | (8) |
| Provision (recapture) for credit losses | 213,199 | 84,016 | (42,651) |
| Change in cash surrender value of bank owned life insurance | (15,962) | (8,353) | (8,402) |
| Depreciation, amortization, and accretion | 144,252 | 28,305 | 31,498 |
| Gain on sale of premises and equipment | (31,472) | (2,747) | (574) |
| Additions to residential mortgage servicing rights carried at fair value | (5,347) | (24,137) | (38,522) |
| Change in fair value residential mortgage servicing rights carried at fair value | 23,816 | (37,265) | 7,814 |
| Stock-based compensation | 18,073 | 9,753 | 10,906 |
| Net (increase) decrease in equity and other investments | (448) | 1,156 | 352 |
| (Gain) loss on equity securities, net | (2,300) | 7,099 | 1,511 |
| (Gain) loss on sale of loans and leases, net | (10,200) | 1,953 | (145,723) |
| Change in fair value of loans held for sale | 341 | 10,670 | 21,427 |
| Origination of loans held for sale | (441,568) | (1,839,466) | (4,747,104) |
| Proceeds from sales of loans held for sale | 602,634 | 2,076,548 | 4,952,918 |
| Change in other assets and liabilities: | |||
| Net (increase) decrease in other assets | (24,163) | 169,540 | 153,148 |
| Net (decrease) increase in other liabilities | (94,910) | 230,223 | (9,376) |
| Net cash provided by operating activities | 669,840 | 1,065,029 | 662,723 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchases of investment securities available for sale | (926,216) | (276,812) | (1,838,923) |
| Proceeds from investment securities available for sale | 1,694,850 | 396,100 | 761,249 |
| Purchases of restricted equity securities | (290,817) | (180,543) | (53) |
| Redemption of restricted equity securities | 260,697 | 144,315 | 30,803 |
| Net change in loans and leases | (1,335,189) | (3,744,493) | (735,422) |
| Proceeds from sales of loans and leases | 748,264 | 148,978 | 246,667 |
| Change in premises and equipment | 40,688 | (27,086) | (15,478) |
| Purchases of bank owned life insurance | (28,243) | — | — |
| Proceeds from bank owned life insurance death benefits | 4,799 | 4,339 | 4,127 |
| Proceeds from sale of mortgage servicing rights | 57,305 | — | — |
| Net cash received from sale of Umpqua Investments, Inc. | — | — | 10,781 |
| Cash received in the Merger | 274,587 | — | — |
| Other | 1,011 | 2,110 | 1,974 |
| Net cash provided (used) in investing activities | $501,736 | $(3,533,092) | $(1,534,275) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Net (decrease) increase in deposit liabilities | $(651,130) | $470,945 | $1,972,519 |
| Net (decrease) increase in securities sold under agreements to repurchase | (126,675) | (183,478) | 116,863 |
| Net decrease in federal funds purchased | (14,000) | — | — |
| Proceeds from borrowings | 17,350,000 | 1,650,000 | — |
| Repayment of borrowings | (16,586,522) | (750,000) | (765,000) |
| Net proceeds from issuance of common stock | 1,185 | 54 | 34 |
| Dividends paid on common stock | (270,261) | (182,273) | (183,734) |
| Repurchase and retirement of common stock | (6,282) | (4,163) | (80,690) |
| Net cash (used) provided by financing activities | (303,685) | 1,001,085 | 1,059,992 |
| Net increase (decrease) in cash and cash equivalents | 867,891 | (1,466,978) | 188,440 |
| Cash and cash equivalents, beginning of period | 1,294,643 | 2,761,621 | 2,573,181 |
| Cash and cash equivalents, end of period | $2,162,534 | $1,294,643 | $2,761,621 |
| CONSOLIDATED STATEMENTS OF CASH FLOWFor the Years Ended December 31, 2023, 2022, and 2021 (Continued) | |||
|---|---|---|---|
| (in thousands) | 2023 | 2022 | 2021 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | |||
| Cash paid during the period for: | |||
| Interest | $692,991 | $71,209 | $42,820 |
| Income taxes | $138,910 | $71,804 | $105,119 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | |||
| Change in unrealized gains and losses on investment securities available for sale, net of taxes | $80,800 | $(407,199) | $(92,834) |
| Change in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | $5,821 | $(21,424) | $(28,152) |
| Transfer of loans to loans held for sale | $118,085 | $— | $— |
| Transfer of loans held for sale to loans | $5,754 | $25,057 | $315,887 |
| Acquisition: | |||
| Assets acquired | $19,230,586 | $— | $— |
| Liabilities assumed | (17,920,542) | — | — |
| Net assets acquired | $1,310,044 | $— | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.