Columbia Banking: 4Q Earnings Snapshot
TACOMA, Wash. (AP) _ Columbia Banking System Inc. (COLB) on Thursday reported fourth-quarter earnings of $44.7 million.
The Tacoma, Washington-based bank said it had earnings of 61 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 62 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.
The bank holding company posted revenue of $150.2 million in the period. Its revenue net of interest expense was $144.3 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $148.9 million.
For the year, the company reported profit of $172.9 million, or $2.39 per share. Revenue was reported as $567.1 million.
Columbia Banking shares have risen 6 percent since the beginning of the year.