Business Combinations |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations | Business Combinations Acquisition of Pacific Premier On August 31, 2025, Columbia completed its acquisition of Pacific Premier, which was wholly acquired in an all-stock transaction valued at $2.4 billion. On September 1, 2025, Pacific Premier's wholly owned banking subsidiary, Pacific Premier Bank, National Association, merged with and into Columbia Bank. Pursuant to the acquisition agreement, each share of Pacific Premier common stock was exchanged for 0.9150 of a share of Columbia common stock. The assets acquired and liabilities assumed have been accounted for under the acquisition method of accounting. The goodwill recognized in connection with the acquisition is not deductible for tax purposes. Additional information regarding valuation methodologies, as well as the fair values and unpaid principal loan balances acquired, is included in Note 2 – Business Combinations of the Notes to Consolidated Financial Statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The Company's consolidated results for the three and nine months ended September 30, 2026 include the operating results of the Pacific Premier acquisition. The Company's operating results for the three and nine months ended September 30, 2025 include the results of Pacific Premier's operations subsequent to the acquisition date. Separate operating results for Pacific Premier are not presented, as they are not practicable to determine following the integration of operations. During the three and nine months ended September 30, 2026, the Company incurred $2 million and $29 million, respectively, of acquisition-related expenses associated with the acquisition of Pacific Premier. These costs were expensed as incurred and included in non-interest expense. The following unaudited pro forma financial information presents the Company’s results as if the acquisition of Pacific Premier had occurred on January 1, 2024. This information is provided for illustrative purposes only and is not necessarily indicative of actual results. Pro forma adjustments primarily reflect estimated interest income and expense adjustments and amortization of core deposit intangibles and do not reflect anticipated operating cost savings, synergies, or other integration benefits.
(1) Pro forma net income for the three and nine months ended September 30, 2025 excludes $135 million and $161 million, respectively, of acquisition-related costs assumed to have been incurred in the first quarter of 2024.
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