The Company applies the two-class method of computing basic and diluted EPS. Under the two-class method, net income is allocated between common stock and participating securities based on their respective dividend rights and participation in undistributed earnings. In connection with the Pacific Premier acquisition, the Company issued certain restricted stock awards under share-based compensation plans that qualify as participating securities.

Basic EPS is calculated by dividing net income attributable to common shareholders by the weighted‑average number of common shares outstanding, excluding participating securities. Diluted EPS reflects the weighted‑average number of common shares outstanding adjusted for the effect of potentially dilutive securities, excluding participating securities and any instruments that are anti‑dilutive.


	Three Months Ended				Nine Months Ended
(in millions, except per share amounts, shares in thousands)	September 30, 2026		September 30, 2025		September 30, 2026		September 30, 2025

Net income	$	220	$	96	$	620	$	335
Less: dividends and undistributed earnings allocated to participating securities	—		—		(1)		—
Net income allocated to common shares	$	220	$	96	$	619	$	335

Weighted average number of common shares outstanding - basic	279,221		237,838		285,128		218,694
Dilutive effect of share-based compensation	1,117		1,087		1,118		1,018
Weighted average number of common shares outstanding - diluted	280,338		238,925		286,246		219,712
Earnings per common share:
Basic	$	0.78	$	0.40	$	2.17	$	1.53
Diluted	$	0.78	$	0.40	$	2.16	$	1.53

The following table presents the weighted average outstanding restricted stock awards and restricted stock units excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive for the periods indicated:

On October 29, 2025, the Company's Board of Directors approved a share repurchase program authorizing the repurchase of up to $700 million of the Company's common stock. During the three months ended September 30, 2026, the Company repurchased 6.5 million shares for an aggregate purchase price of $199 million, at an average price of $30.65 per share under this program. During the nine months ended September 30, 2026, the Company repurchased 19.6 million shares for an aggregate purchase price of $597 million, at an average price of $30.44 per share under this program. As of September 30, 2026, approximately $3 million remained available under the share repurchase authorization. The Company does not intend to make additional repurchases under the program. Any future share repurchases made under the share repurchase program authorized on October 20, 2026 by Columbia's Board of Directors which authorizes the repurchase of up to $1.2 billion of the Company's common stock. There were no share repurchases during the three and nine months ended September 30, 2025. For additional information regarding the new share repurchase program, see Note 14 – Subsequent Event.