Columbia Banking: Q1 Earnings Snapshot
TACOMA, Wash. (AP) _ Columbia Banking System Inc. (COLB) on Thursday reported first-quarter earnings of $57.5 million.
The Tacoma, Washington-based bank said it had earnings of 74 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 81 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The bank holding company posted revenue of $172.5 million in the period. Its revenue net of interest expense was $170.4 million, also beating Street forecasts.