1. PNC Financial Services, but focused on the Pacific Northwest.

2. A regional bank for the Pacific Northwest, similar to how KeyCorp serves the Midwest and Northeast.

3. Like Comerica Bank, but operating primarily in Washington, Oregon, and Idaho.

• Deposit Accounts: Gathering funds from individuals and businesses through various checking, savings, money market, and certificate of deposit accounts.
• Commercial Loans: Providing financing to businesses for real estate, equipment, working capital, and other operational needs.
• Real Estate Loans: Offering a range of loans including residential mortgages, commercial real estate loans, and construction financing.
• Consumer Loans: Providing loans to individuals for personal use, such as home equity lines of credit, auto loans, and other personal installment loans.
• Wealth Management Services: Delivering financial planning, investment management, and trust services to help clients grow and preserve their assets.
• Treasury Management Services: Assisting businesses with cash flow management through services like payment processing, fraud prevention, and liquidity solutions.

Columbia Banking System (COLB) is a bank holding company, and its primary customers are not other large companies that resell its services. Instead, it serves a diverse base of individuals and businesses directly within its operating regions.

The company primarily sells to individuals and businesses, and its major customer categories include:

• Individuals/Consumers: This category includes everyday people who utilize the bank's services for personal financial needs such as checking accounts, savings accounts, mortgages, home equity loans, auto loans, personal loans, and wealth management services.
• Small to Medium-sized Businesses (SMBs): Local and regional businesses comprise a significant customer base. They rely on Columbia Bank for business checking and savings accounts, commercial real estate loans, business lines of credit, term loans, equipment financing, and treasury management services.
• Commercial and Corporate Clients: This category encompasses larger businesses and corporations requiring more extensive and complex financial solutions. These services often include larger-scale commercial and industrial loans, specialized financing, treasury management, and other tailored corporate banking services.

Columbia Banking System (COLB) offers a range of financial products and services primarily within the Western United States, including Oregon, Washington, California, Idaho, Nevada, Arizona, Colorado, and Utah. Identifying the precise addressable market for each service solely within this specific region can be challenging due to data availability, but broader market sizes provide context.

Addressable Markets for Columbia Banking System's Main Products and Services:

• Commercial Lending: The global commercial lending market was valued at approximately USD 11,874.88 billion in 2024 and is projected to reach nearly USD 25,270.32 billion by 2032, growing at a compound annual growth rate (CAGR) of 9.9% from 2025 to 2032. While this is a global figure, North America is a significant participant in this market.
• Community Banking (including Deposit Products and Treasury Management): The U.S. community banking market was valued at USD 6.35 billion in 2024, with a projected CAGR of 3.8%. North America held a dominant position in the global community banking market, capturing over 40% of the share in 2024, amounting to USD 6.68 billion in revenue.
• Wealth Management: The global wealth management market size was approximately USD 1.97 trillion in 2024 and is expected to reach USD 2.72 trillion by 2029, exhibiting a CAGR of 6.7%. North America is identified as a dominant region in the wealth management market. Furthermore, the Seattle metropolitan area within Columbia Banking System's operating region is recognized as a significant and growing wealth management hub.
• Residential Real Estate Loans (Mortgage Lending): The global mortgage lending market was valued at USD 11,487.23 billion in 2021 and is projected to reach USD 27,509.24 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031. North America held the largest share of the mortgage lending market in 2021.
• Consumer Loans: null

Here are 3-5 expected drivers of future revenue growth for Columbia Banking System (COLB) over the next 2-3 years:

1. Strategic Acquisition and Integration of Pacific Premier Bancorp: The acquisition of Pacific Premier Bancorp, completed on August 31, 2025, is a significant driver. This merger expands Columbia Banking System's presence in the Southern California market and strengthens its footprint as a leading regional institution in the Western United States. The integration is expected to enhance service offerings, including custodial trust services, HOA banking, escrow, and 1031 exchange businesses, contributing to increased fee income and attracting low-cost core deposits.
2. Organic Commercial Loan Growth: Columbia Banking System is emphasizing a focus on relationship-driven banking and increasing its commercial loan portfolio. In Q3 2025, the commercial banking segment achieved $1.2 billion in new loan originations, representing a 36% increase quarter-over-quarter. The company is strategically shifting its lending focus towards commercial and owner-occupied commercial real estate loans, while allowing transactional real estate portfolios to wind down.
3. Customer Deposit Growth and Balance Sheet Optimization: The company is actively working to attract new customer deposits through various initiatives, including successful small business and retail campaigns and the opening of new branches in growth markets like Arizona and Eastern Oregon. This strong customer deposit growth supports balance sheet optimization by reducing reliance on higher-cost wholesale funding sources, which in turn enhances the company's net interest margin.
4. Net Interest Margin (NIM) Expansion: Through ongoing balance sheet optimization efforts, including reducing wholesale funding and carefully managing deposit costs, Columbia Banking System anticipates continued expansion of its net interest margin. Rising yields on earning assets and a lower cost of interest-bearing liabilities are also key factors contributing to this expected improvement.
5. Expansion into New and Growth Markets in the Western U.S.: The Pacific Premier acquisition significantly accelerates Columbia Banking System's expansion strategy into Southern California and reinforces its presence in its core Northwest markets. The company is actively pursuing opportunities to increase its market share and density across its broader Western U.S. footprint, including in growing metropolitan areas like Phoenix.

**Share Repurchases**

• Columbia's Board of Directors authorized a new share repurchase plan on October 30, 2025, for up to $700 million of common stock, set to expire on November 30, 2026.
• The company's annual share buybacks totaled $5.715 million in 2024 and $6.282 million in 2023.
• A share repurchase program for up to 3.5 million shares was announced in the third quarter of 2020.

**Share Issuance**

• On August 31, 2025, Columbia issued common shares as part of its acquisition of Pacific Premier Bancorp, Inc., with each Pacific Premier share converting into 0.9150 of a Columbia common share.
• Following the Pacific Premier acquisition, former Pacific Premier stockholders collectively represent approximately 30% of Columbia's shareholders.
• Columbia expected to issue approximately 129,065,476 shares of common stock to Umpqua shareholders as part of the merger with Umpqua Holdings Corporation, which was completed on February 28, 2023.

**Outbound Investments**

• Columbia Banking System completed the acquisition of Pacific Premier Bancorp, Inc. on August 31, 2025, in an all-stock transaction valued at approximately $2.0 billion. This acquisition increased Columbia's assets to approximately $70 billion and significantly expanded its presence in Southern California.
• The company completed its merger with Umpqua Holdings Corporation on February 28, 2023, creating a combined entity with over $50 billion in total assets.

**Capital Expenditures**

• Columbia Banking System's quarterly capital expenditures were $21.8 million for the period ending June 2025.