Columbia Banking System, Inc. (NASDAQ:COLB) Q1 2023 Earnings Conference Call April 26, 2023 5:00 PM ET

Company Participants

Jackie Bohlen - Investor Relations Director

Clint Stein - President and Chief Executive Officer

Ron Farnsworth - Chief Financial Officer

Frank Namdar - Chief Credit Officer

Chris Merrywell - President of Umpqua Bank

Tory Nixon - President of Umpqua Bank

Conference Call Participants

Jeff Rulis - D.A. Davidson

David Feaster - Raymond James

Jared Shaw - Wells Fargo

Matthew Clark - Piper Sandler

Brody Preston - UBS

Brandon King - Truist

Jon Arfstrom - RBC

Operator

Thank you for standing by, and welcome to the Columbia Banking System's First Quarter 2023 Earnings Conference call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] As a reminder today's conference call is being recorded.

At this time, I'd like to introduce Jackie Bohlen, Investor Relations Director for Columbia, to begin the conference call.

Jackie Bohlen

Thank you. Valerie. Good afternoon, everyone. Thank you for joining us as we review our first quarter 2023 results, which we released shortly after the market closed today.

The earnings release and corresponding presentation, which we will refer to during our remarks this afternoon, are available on our website at columbiabankingsystem.com.

With me this morning are Clint Stein, President and CEO of Columbia Banking System; Chris Merrywell and Tory Nixon, the Presidents of Umpqua Bank; Ron Farnsworth, Chief Financial Officer; and Frank Namdar, Chief Credit Officer. After our prepared remarks, we will take your questions.

During today's call, we will make forward-looking statements, which are subject to risks and uncertainties and are intended to be covered by the safe harbor provisions of federal securities law. For a list of factors that may cause actual results to differ materially from expectations, please refer to Slide 2 of our earnings presentation as well as the disclosures contained within our SEC filings.

We will also reference non-GAAP financial measures alongside our discussion of GAAP results. We encourage you to review the GAAP to non-GAAP reconciliations provided in our earnings release and throughout the earnings presentation.

I will now turn the call over to Clint.

Clint Stein

Thank you, Jackie. Good afternoon, everyone.

It was an extraordinary first quarter for Columbia. We closed our merger with Umpqua Holdings Corporation on February 28, reinforcing Umpqua Bank's position as the largest bank headquartered in the Northwest and creating one of the largest banking franchises headquartered in the West. At $54 billion in assets, our broader scale and additional products and services enable us to meet the needs of our customer base in expanded ways.