Columbia Banking: Q4 Earnings Snapshot
TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Thursday reported fourth-quarter profit of $215 million.
The Tacoma, Washington-based bank said it had earnings of 72 cents per share. Earnings, adjusted for one-time gains and costs, came to 82 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The bank holding company posted revenue of $948 million in the period. Its revenue net of interest expense was $717 million, also beating Street forecasts.
For the year, the company reported profit of $550 million, or $2.30 per share. Revenue was reported as $2.3 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COLB at https://www.zacks.com/ap/COLB