COLUMBIA BANKING SYSTEM Business Summary

Columbia Banking System, Inc. (COLB) operates as a leading Western U.S. regional bank holding company, generating revenue primarily through net interest income from a diversified loan portfolio and non-interest income via treasury management, commercial card fees, and trust services. Following its 2023 merger with Umpqua Holdings and the 2025 acquisition of Pacific Premier, the company has solidified its presence across nine states, including Washington, Oregon, California, and Arizona. Its business model is segmented into Commercial Banking, Small Business, Consumer Banking, and Wealth Management, with a strategic focus on relationship-driven lending and low-cost core deposit growth. COLB competes directly with mid-cap and regional peers such as East West Bancorp, Western Alliance Bancorp, and Banner Corporation, positioning itself as a high-touch, "regional powerhouse" that bridges the gap between community banks and global financial institutions. Leadership is spearheaded by Clint Stein, who serves as Chair, President, and CEO; Stein joined the company in 2005 and previously served as CFO and COO, overseeing the firm's significant expansion and integration efforts. The executive team was further strengthened in late 2025 with the appointment of Ivan Seda as EVP and CFO, who brings over 20 years of experience from senior roles at Union Bank, MUFG, and BECU. Other key executives include Co-President Tory Nixon and Chief Credit Officer Frank Namdar, both of whom held leadership positions at Umpqua prior to the merger. The Board of Directors features notable figures such as Lead Independent Director Maria Pope, President and CEO of Portland General Electric, and Luis Machuca, former CEO of Kryptiq Corporation. Founded in 1993 and headquartered in Tacoma, Washington, the company maintains a strong institutional investor base, including significant holdings by Vanguard, BlackRock, and T. Rowe Price.