Columbia Banking System, Inc. (NASDAQ:COLB) Q3 2023 Earnings Conference Call October 18, 2023 5:00 PM ET

Company Participants

Jacque Bohlen - Investor Relations Director

Clint Stein - President and Chief Executive Officer

Ron Farnsworth - Chief Financial Officer

Frank Namdar - Chief Credit Officer

Chris Merrywell - President, Umpqua Bank

Tory Nixon - President, Umpqua Bank

Conference Call Participants

Jeff Rulis - D.A. Davidson

David Feaster - Raymond James

Timur Braziler - Wells Fargo

Brody Preston - UBS

Chris McGratty - KBW

Jon Arfstrom - RBC Capital Markets

Andrew Terrell - Stephens

Matthew Clark - Piper Stanley

Operator

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

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

Jacque Bohlen

Thank you, Valerie. Good afternoon, everyone. Thank you for joining us as we review our Third Quarter 2023 Results which we released shortly after the market close 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 afternoon 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 provision of federal securities law. For a list of factors that may cause actual results to differ materially from expectations, please refer to slide two 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

Thanks, Jacque. Good afternoon, everyone. Columbia's third-quarter results reflect our associates' emphasis on activities to generate business and drive efficiencies for our franchise. Our focus on balanced growth resulted in relationship-driven expansion in our loan portfolio and higher non-interest income. Despite industry headwinds, we continue to see stabilizing deposit trends. Integration activities are winding down as we are now in our eighth month since the merger closed.