COLUMBIA BANKING SYSTEM INC
For the period ended Jun 30, 2024. Filed Aug 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 6, 2024
COLB$30.85-0.5%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Comprehensive Income (unaudited)
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Three Months Ended | Six Months Ended | |||
|---|---|---|---|---|
| (in thousands) | June 30, 2024 | June 30, 2023 | June 30, 2024 | June 30, 2023 |
| Net income | $120,144 | $133,377 | $244,224 | $119,339 |
| Available for sale securities: | ||||
| Unrealized losses arising during the period | (39,571) | (145,743) | (162,233) | (305) |
| Income tax benefit related to unrealized losses | 10,288 | 37,894 | 42,181 | 67 |
| Reclassification adjustment for net realized losses (gains) in earnings | 1 | — | (11) | — |
| Income tax expense related to realized gains | — | — | 3 | — |
| Net change in unrealized losses for available for sale securities | (29,282) | (107,849) | (120,060) | (238) |
| Junior subordinated debentures, at fair value: | ||||
| Unrealized (losses) gains arising during the period | (384) | (14,638) | 6,069 | 11,174 |
| Income tax benefit (expense) related to unrealized (losses) gains | 100 | 3,806 | (1,578) | (2,905) |
| Net change in unrealized (losses) gains for junior subordinated debentures, at fair value | (284) | (10,832) | 4,491 | 8,269 |
| Pension plan liability adjustment: | ||||
| Amortization of unrecognized net actuarial loss included in net periodic pension cost | 20 | 72 | 39 | 96 |
| Income tax expense related to unrecognized actuarial loss | (5) | (19) | (10) | (25) |
| Net change in pension plan liability adjustment | 15 | 53 | 29 | 71 |
| Other comprehensive (loss) gain income, net of tax | (29,551) | (118,628) | (115,540) | 8,102 |
| Comprehensive income | $90,593 | $14,749 | $128,684 | $127,441 |
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