Columbia Banking System (COLB) revealed a profit for third quarter that Decreased from last year but beat the Street estimates.
The company's earnings came in at $96 million, or $0.40 per share. This compares with $146 million, or $0.70 per share, last year.
Excluding items, Columbia Banking System reported adjusted earnings of $0.85 per share for the period.
Analysts on average had expected the company to earn $0.69 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 17.4% to $505 million from $430 million last year.
Columbia Banking System earnings at a glance (GAAP) :
-Earnings: $96 Mln. vs. $146 Mln. last year.-EPS: $0.40 vs. $0.70 last year.-Revenue: $505 Mln vs. $430 Mln last year.
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