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Columbia Banking: Q1 Earnings Snapshot

April 21, 2022 GMT

TACOMA, Wash. (AP) _ Columbia Banking System Inc. (COLB) on Thursday reported first-quarter earnings of $57.5 million.

The Tacoma, Washington-based bank said it had earnings of 74 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 81 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.

The bank holding company posted revenue of $172.5 million in the period. Its revenue net of interest expense was $170.4 million, also beating 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