Columbia Banking System (COLB) Barclays 23rd Annual Global Financial Services Conference summary

Operational performance and strategic focus

• Core operations remain steady with seasonal deposit upticks and disciplined loan growth, prioritizing profitability over expansion for its own sake.

• 98% of employees experience business as usual, while integration efforts from the Pac Premier acquisition impact facilities, technology, and operations.

• Cross-business referrals and engagement surged post-acquisition, with every branch making new referrals and high employee enthusiasm.

• Training for new team members on relationship selling strategies begins imminently, with strong early engagement and readiness for outbound business development.

• Leadership structure in Southern California remains largely intact, with local leaders paired with existing management to drive growth.

Acquisition and integration of Pacific Premier

• The acquisition accelerates strategic goals in Southern California by a decade, providing significant market density and a high-quality deposit base.

• Integration was executed rapidly, including a full rebranding and technology transition over a single weekend.

• Cultural integration is strong, with proactive engagement and training campaigns underway to align teams and promote cross-selling.

• The deal is seen as the final major piece for regional scale, not a signal for further M&A activity.

• Board composition was enhanced with experienced regional banking leadership to support ongoing integration and governance.

Growth strategy and market outlook

• Focus remains on profitability and remixing the balance sheet toward historical composition, emphasizing C&I over transactional real estate loans.

• Organic growth to $100 billion in assets is expected to take significant time, with no immediate pressure to invest in new infrastructure.

• Current scale at $70 billion is considered optimal for relevance and performance, with a unique market presence on the West Coast.

• Expansion in Colorado, Utah, and Arizona is driven by targeted hiring and efficient team structures, with strong early deposit and loan growth.

• Southern California investment focus has shifted to mountain states following the acquisition, with optimism for continued growth.