What guidance did Columbia Banking System's management provide for the next earnings period?

What factors drove the changes in Columbia Banking System's revenue and profit?

What is the revenue and EPS growth rate for Columbia Banking System year over year?

What is Columbia Banking System's gross profit margin?

What is the market's earnings forecast for Columbia Banking System next quarter?

Did Columbia Banking System beat or miss consensus estimates last quarter?

What does Columbia Banking System do and what are its main business segments?

What were the key takeaways from Columbia Banking System’s earnings call?

- **Strategic Expansion**: $68 billion asset base post-Pacific Premier acquisition, enhancing market leadership in Southern California and the Northwest.
- **Financial Performance**: 12% Q/Q increase in operating PPNR to $270 million, driven by deposit growth and loan remixing.
- **Capital Return**: $700 million share buyback announced, supported by $550 million of excess capital and strong profitability.
- **Growth Momentum**: 30% of deposit growth from new customers, with $1.2 billion in new loan originations and 5% annualized C&I growth target.
- **Balance Sheet Optimization**: $8 billion transactional loan remix expected to enhance profitability without requiring balance sheet growth.

**【CEO Summary Section】**
- Announced the successful completion of the Pacific Premier acquisition, expanding assets to $68 billion and enhancing market share in key Western U.S. markets.
- Reported third-quarter operating PPNR of $270 million, up 12% from Q2 and 22% year-over-year, driven by deposit growth and transactional loan runoff.
- Introduced a $700 million share repurchase program, reflecting excess capital and confidence in long-term growth.
- Emphasized a disciplined approach to balance sheet optimization, targeting a $8 billion remix of transactional loans over the next several years.

**【CFO Financial Commentary】**
- GAAP net income of $70 million, with operating EPS of $0.85, excluding merger-related expenses.
- Tangible book value per share increased to $18.57, with dilution from the acquisition at 1.7% (below the 7.6% pre-announcement estimate).
- Net interest margin expanded to 3.84%, driven by funding remix and the accretion of acquired CDs.
- Operating expenses of $307 million, with $48 million in annualized cost synergies realized, targeting $127 million by 2026.

**【Commercial Banking Highlights】**
- Deposit growth of $800 million (30% from new customers), with $150 million from de novo branches in Arizona and Southern California.
- New loan originations of $1.2 billion, up 36% quarter-over-quarter, with a focus on relationship-driven C&I loans.
- Integration of Pacific Premier's Custodial Trust and HOA banking services, generating $3 million in incremental noninterest income.

**【Q&A Key Highlights】**
- **Share Buyback**: $700 million program to be executed over 12 months, with $550 million of excess capital as of Q3. Expected to complete the program within the authorization period.
- **Deposit Growth**: 30% of Q3 growth from new customers, driven by de novo branches and cross-selling of fee-based services.
- **Loan Strategy**: Targeting 5% annual C&I loan growth, offsetting transactional loan runoff and maintaining stable net interest income.
- **Credit Quality**: Stable allowance for credit losses at 1.1% of loans, with no material impact from the Pacific Premier portfolio.


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