TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Thursday reported third-quarter profit of $96 million.
The Tacoma, Washington-based bank said it had earnings of 40 cents per share. Earnings, adjusted for one-time gains and costs, came to 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The bank holding company posted revenue of $817 million in the period. Its revenue net of interest expense was $582 million, also surpassing Street forecasts.
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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
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