Every material Form 8-K Columbia Banking System filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Columbia Banking System named Brock Lakely as Executive Vice President, Chief Accounting Officer and Corporate Controller effective November 20, 2025, replacing Lisa M. White, who left the role effective November 19, 2025. The filing gives his base salary as $360,000 and says the change involves no special arrangements or family relationships, so it is a routine finance leadership change rather than a change in company results or strategy.
Lisa M. White ceased serving as Principal Accounting Officer and Corporate Controller effective end of business November 19, 2025
Brock Lakely appointed effective November 20, 2025, with annual base salary increased to $360,000
Lakely previously served as Chief Audit Executive from April 3, 2023 to November 19, 2024, and as Chief Accounting Officer from May 20, 2018 to April 3, 2023
Columbia Banking System, Inc. (Nasdaq: COLB) said Ivan Seda will succeed Ronald L. Farnsworth as chief financial officer effective December 31, 2025. Farnsworth will serve as a senior advisor through June 1, 2026, and the filing discloses the pay terms for both executives, including payments due to Farnsworth on his separation date.
Ivan Seda, Deputy CFO since August 2025, becomes CFO effective December 31, 2025.
Seda's base salary is $550,000, with a target annual incentive of 85% of base salary and a performance stock unit grant valued at $750,000 that cliff vests after three years.
Farnsworth ceases to be CFO on December 31, 2025, and his advisor role runs through June 1, 2026.
On separation, Farnsworth is due cash severance, a lump sum equal to 18 months of company benefit contributions, and a lump sum tied to 62,572 target equity shares at the closing share price.
Columbia Banking System reported third quarter 2025 net income of $96 million, down from $152 million in the second quarter, and diluted earnings per share of $0.40, down from $0.73, as it recorded $87 million of merger and restructuring expense tied to its Pacific Premier acquisition. Net interest income rose to $505 million and operating diluted earnings per share were $0.85, up from $0.76, and the Board authorized a $700 million share repurchase program. Shareholders face a mixed picture: revenue grew, but reported profit fell sharply.
Net income was $96 million and diluted EPS was $0.40, compared with $152 million and $0.73 in the prior quarter.
Operating diluted EPS was $0.85, compared with $0.76 in the prior quarter; merger and restructuring expense was $87 million.
Net interest income was $505 million, up $59 million from the prior quarter, partly due to one month of combined operations.
The Board authorized repurchases of up to $700 million of common stock; the authorization expires November 30, 2026.
Columbia Banking System closed its acquisition of Pacific Premier Bancorp at the effective time of the merger on August 31, 2025, and filed the 8-K on September 2, 2025. The combined company reports about $70 billion in assets, and former Pacific Premier stockholders will hold roughly 30% of Columbia shares after closing.
Each Pacific Premier share converted into 0.9150 of a Columbia common share; Pacific Premier shares ceased trading before the September 2, 2025 Nasdaq open.
At closing, Columbia reported approximately $70 billion in assets, $50 billion in loans and $56 billion in deposits, with more than 350 locations across eight western states.
Three former Pacific Premier directors joined Columbia's board, including Steven R. Gardner, who will receive $2.2 million under a one-year-and-one-day consulting agreement.
Columbia expects to integrate its systems and services in the first quarter of 2026.
Columbia Banking System reported second quarter 2025 net income of $152 million, or $0.73 per diluted share, up from $86.6 million, or $0.41 per share, in the first quarter. Operating earnings were $0.76 per diluted share, compared with $0.67 in the prior quarter. The company also said it expects to close its Pacific Premier Bancorp acquisition as soon as September 1, 2025, pending regulatory approvals.
Net income was $152 million for Q2 2025, compared with $87 million in Q1 2025 and $120 million in Q2 2024.
Diluted EPS was $0.73 versus $0.41 in Q1 2025; operating diluted EPS was $0.76 versus $0.67.
Net interest margin rose to 3.75%, up 15 basis points from Q1 2025.
Pacific Premier Bancorp shareholders approved the combination on July 21, 2025; closing is expected as soon as September 1, 2025.
Columbia Banking System signed a merger agreement on April 23, 2025, to acquire Pacific Premier Bancorp, with Pacific Premier shareholders receiving 0.9150 of a Columbia share for each share they hold. The deal requires shareholder and regulatory approvals before completion, and a $75 million termination fee applies in certain circumstances, so the deal's outcome remains uncertain.
Exchange ratio: 0.9150 Columbia common share per Pacific Premier share, with cash paid for fractional shares
Three Pacific Premier directors, including Chairman, CEO and President Steven R. Gardner, expected to join Columbia's board
Completion requires shareholder approvals, Federal Reserve, FDIC and Oregon approvals, and an S-4 registration statement
Termination fee of $75,000,000 payable by either party in certain circumstances
Columbia Banking System reported first quarter 2025 net income of $87 million, or $0.41 per diluted share, down from $143 million and $0.68 in the fourth quarter of 2024. Non-interest expense rose $74 million to $340 million, mainly due to a $55 million legal settlement accrual and $15 million in severance, while the company also disclosed a definitive all-stock merger agreement to acquire Pacific Premier Bancorp.
Net income $87 million and diluted EPS $0.41, versus $143 million and $0.68 in Q4 2024; operating EPS was $0.67 versus $0.71
Non-interest expense $340 million, including a $55 million legal settlement accrual and $15 million severance expense
Net interest income $425 million, down $12 million; net interest margin 3.60%, down 4 basis points
Pending all-stock acquisition of Pacific Premier Bancorp, anticipated to close in the second half of 2025; joint conference call April 23, 2025 at 3:00 p.m. PT
Cort O'Haver stepped down as Executive Chair and resigned from the board effective March 31, 2025, after the Umpqua merger integration was completed. Director Maria Pope becomes independent, non-executive board chair effective April 1, 2025, and the Executive Chair position has been eliminated.
O'Haver's Executive Chair role and board seat ended March 31, 2025; he will no longer serve as a director or employee of the company or any subsidiary
Maria Pope, a director since the merger with Umpqua was completed, becomes independent, non-executive Board Chair effective April 1, 2025
O'Haver's severance is for involuntary termination without cause under his October 11, 2021 employment letter, subject to a release of claims and continued compliance with restrictive covenants
Columbia Banking System reported fourth-quarter 2024 net income of $143 million and diluted earnings per share of $0.68, compared with $146 million and $0.70 in the third quarter, while operating EPS rose to $0.71 from $0.69. Net interest income rose $7 million to $437 million, but non-interest income fell $16 million, and full-year 2024 net income of $533.7 million was up 53% from 2023, which shareholders may weigh against the quarter-over-quarter decline.
Q4 2024 net income was $143 million, down from $146 million in Q3 2024; diluted EPS was $0.68, versus $0.70 in Q3 and $0.45 in Q4 2023.
Operating diluted EPS, a non-GAAP measure, was $0.71 in Q4 2024 compared with $0.69 in Q3 2024.
Net interest income rose $7 million to $437 million, while non-interest income fell $16 million to $50 million, driven partly by a $6 million net fair value loss.
Full-year 2024 net income was $533.7 million and diluted EPS was $2.55, up from $1.78 in 2023; final figures will appear in the Form 10-K.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Columbia Banking System filing is on SEC EDGAR ↗. 8-K briefs of other companies →