Columbia Banking System (COLB) released a profit for its third quarter that increased from last year and beat the Street estimates.
The company's bottom line totaled $146.2 million, or $0.70 per share. This compares with $135.8 million, or $0.65 per share, in last year's third quarter.
Excluding items, Columbia Banking System reported adjusted earnings of $0.69 per share for the period.
Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 10.5% to $430.2 million from $480.9 million last year.
Columbia Banking System earnings at a glance (GAAP) :
-Earnings (Q3): $146.2 Mln. vs. $135.8 Mln. last year.
-EPS (Q3): $0.70 vs. $0.65 last year.
-Revenue (Q3): $430.2 Mln vs. $480.9 Mln last year.
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