TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Wednesday reported first-quarter earnings of $86.6 million.
The Tacoma, Washington-based bank said it had earnings of 41 cents per share. Earnings, adjusted for non-recurring costs, were 67 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The bank holding company posted revenue of $713.6 million in the period. Its revenue net of interest expense was $491.4 million, which also beat Street forecasts.
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