Columbia Banking: Q4 Earnings Snapshot

TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Thursday reported fourth-quarter profit of $143.3 million.

The bank, based in Tacoma, Washington, said it had earnings of 68 cents per share. Earnings, adjusted for non-recurring costs, were 71 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The bank holding company posted revenue of $726.3 million in the period. Its revenue net of interest expense was $487.1 million, falling short of Street forecasts.

For the year, the company reported profit of $533.7 million, or $2.55 per share. Revenue was reported as $1.93 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

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