Shares of Columbia Banking System Inc. (NASDAQ:COLB) surged by 6.30 percent on Friday, closing at $24.82 apiece after an impressive earnings performance in the first half of the year. Net income rose by 27 percent to $152 million, with net interest income growing by 4 percent to $446 million year-on-year. Non-interest income also climbed by 44 percent to $64.46 million.

President and CEO Clint Stein credited the strong performance to commercial loan growth, controlled deposit pricing, and a rebound in securities yields. Columbia Banking’s Business Bank of Choice strategy attracted new relationships despite a decline in customer deposits. The company remains focused on delivering top-quartile performance and enhancing long-term tangible book value while returning excess capital to shareholders.

While Columbia Banking (COLB) shows investment potential, some AI stocks may offer higher returns with limited downside risk. Investors seeking cheap AI stocks that benefit from Trump tariffs and onshoring can explore opportunities in the market.

Read more at Yahoo Finance: Columbia Banking (COLB) Jumps 6.3% as Investors Cheer Q2 Income