TACOMA — Columbia Banking System Inc. (COLB) on Thursday reported first-quarter earnings of $51.9 million.
The bank, based in Tacoma, Washington, said it had earnings of 73 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The bank holding company posted revenue of $149.2 million in the period. Its revenue net of interest expense was $147.2 million, also topping Street forecasts.
Columbia Banking shares have climbed 23% since the beginning of the year.
