COLUMBIA BANKING SYSTEM INC
For the period ended Sep 30, 2024. Filed Nov 5, 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.
Sep 30, 2024 · Filed Nov 5, 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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Condensed Consolidated Statements of Cash Flows (unaudited)
| COLUMBIA BANKING SYSTEM, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) | ||
|---|---|---|
| Nine Months Ended | ||
| (in thousands) | September 30, 2024 | September 30, 2023 |
| CASH FLOWS FROM OPERATING ACTIVITIES: | ||
| Net income | $390,406 | $255,184 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Accretion of investment discounts, net | (59,383) | (47,972) |
| Gain on sale of investment securities, net | (14) | (4) |
| Provision for credit losses | 77,725 | 158,290 |
| Change in cash surrender value of bank-owned life insurance | (14,177) | (11,484) |
| Depreciation, amortization and accretion | 113,642 | 102,409 |
| Gain on sale of premises and equipment | (2,735) | (27,438) |
| Additions to residential mortgage servicing rights carried at fair value | (4,324) | (4,427) |
| Change in fair value of residential mortgage servicing rights carried at fair value | 11,648 | 14,350 |
| Stock-based compensation | 15,124 | 13,317 |
| Net (increase) decrease in equity and other investments | (1,969) | 273 |
| (Gain) loss on equity securities, net | (1,032) | 336 |
| Gain on sale of loans and leases, net | (5,464) | (7,715) |
| Change in fair value of loans held for sale | (1,006) | 1,118 |
| Origination of loans held for sale | (388,872) | (354,535) |
| Proceeds from sales of loans held for sale | 358,518 | 485,761 |
| Change in other assets and liabilities: | ||
| Net decrease (increase) in other assets | 2,606 | (26,185) |
| Net (decrease) increase in other liabilities | (87,675) | 26,191 |
| Net cash provided by operating activities | 403,018 | 577,469 |
| CASH FLOWS FROM INVESTING ACTIVITIES: | ||
| Purchases of investment securities available for sale | (33,506) | (920,899) |
| Proceeds from investment securities available for sale | 385,358 | 1,552,199 |
| Purchases of restricted equity securities | (85,500) | (238,066) |
| Redemption of restricted equity securities | 148,500 | 218,696 |
| Net change in loans and leases | (279,075) | (991,404) |
| Proceeds from sales of loans and leases | 115,045 | 701,647 |
| Change in premises and equipment | (20,028) | 44,055 |
| Proceeds from bank-owned life insurance death benefits | 3,965 | 3,020 |
| Proceeds from sale of mortgage servicing rights | — | 57,454 |
| Cash received in the Merger | — | 274,587 |
| Other | 2,107 | 468 |
| Net cash provided by investing activities | 236,866 | 701,757 |
| CASH FLOWS FROM FINANCING ACTIVITIES: | ||
| Net decrease in deposit liabilities | (92,332) | (633,969) |
| Net decrease in federal funds purchased | — | (14,000) |
| Net decrease in securities sold under agreements to repurchase | (68,286) | (120,411) |
| Proceeds from borrowings | 3,900,000 | 12,100,000 |
| Repayment of borrowings | (4,200,000) | (11,301,522) |
| Net proceeds from issuance of common stock | — | 1,185 |
| Dividends paid on common stock | (225,144) | (195,351) |
| Repurchase and retirement of common stock | (5,634) | (6,106) |
| Net cash used in financing activities | (691,396) | (170,174) |
| Net (decrease) increase in cash and cash equivalents | (51,512) | 1,109,052 |
| Cash and cash equivalents, beginning of period | 2,162,534 | 1,294,643 |
| Cash and cash equivalents, end of period | $2,111,022 | $2,403,695 |
| COLUMBIA BANKING SYSTEM, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)(Continued) | ||
|---|---|---|
| Nine Months Ended | ||
| (in thousands) | September 30, 2024 | September 30, 2023 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
| Cash paid during the period for: | ||
| Interest | $790,056 | $456,797 |
| Income taxes | $66,482 | $80,226 |
| SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING AND FINANCING ACTIVITIES: | ||
| Changes in unrealized gains and losses on investment securities available for sale, net of taxes | $103,249 | $(247,397) |
| Changes in unrealized gains and losses on junior subordinated debentures carried at fair value, net of taxes | $2,966 | $(6,292) |
| Transfer of loans to loans held for sale | $— | $118,085 |
| Acquisitions: | ||
| 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.