Columbia Banking: Q1 Earnings Snapshot
TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Wednesday reported a loss of $14 million in its first quarter.
The bank, based in Tacoma, Washington, said it had a loss of 9 cents per share. Earnings, adjusted for non-recurring costs, were 46 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The bank holding company posted revenue of $530.7 million in the period. Its revenue net of interest expense was $429.4 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $424.9 million.
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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