Columbia Banking System (COLB) Reports In-Line Q3 EPS

Columbia Banking System (NASDAQ: COLB) reported Q3 EPS of $0.63, in-line with the analyst estimate of $0.63.

• Record quarterly net income of $46.4 million; diluted earnings per share of $0.63, which included $0.02 per share negative impact from acquisition-related expenses
• Net interest margin of 4.41%, up 12 basis points from linked quarter
• Third quarter loan production of $408.9 million
• Nonperforming assets to period end assets ratio decreased to 0.52%
• Special cash dividend of $0.14 in addition to regular quarterly dividend

Hadley Robbins, President and Chief Executive Officer of Columbia Banking System and Columbia Bank (COLB) ("Columbia"), said today upon the release of Columbia's third quarter 2018 earnings, "We had a very successful quarter in generating a record level of loan production while continuing to work down nonperforming assets, as evidenced by the 9 basis point reduction compared to the prior quarter." Mr. Robbins continued, "I am also pleased with the 12 basis point increase in our net interest margin, which was favorably impacted by higher loan and securities rates and a more favorable deposit mix driven by an increase in noninterest-bearing deposits."

For earnings history and earnings-related data on Columbia Banking System (COLB) click here.

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