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Columbia Banking System Announces Third Quarter 2015 Earnings

by User Not Found | Oct 29, 2015
October 29, 2015

Melanie Dressel, President and Chief Executive Officer of Columbia Banking System and Columbia Bank, said today upon the release of Columbia’s third quarter 2015 earnings, “The balance sheet growth combined with our ongoing efforts to increase noninterest income and curb expenses resulted in record net income for the quarter. The Pacific Northwest economy continues to be favorable for businesses as evidenced by our record loan production and outstanding deposit growth during the third quarter. Our bankers have worked diligently to grow loans and increase core deposits, resulting in a relatively stable operating net interest margin despite the prolonged low interest rate environment.”

Highlights

  • Record net income of $25.8 million with diluted earnings per share of $0.45
  • Record new loan production for the quarter of $348 million
  • Solid deposit growth of $270 million, or 4% for the quarter
  • Nonperforming assets to period end assets reduced to 0.44%, a decrease of 10 basis points from June 30, 2015 and a decrease of 18 basis points from year end 2014
  • Efficiency ratio for the quarter improves to less than 60%
Read the entire press release.

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