Columbia Banking System (COLB) Misses Q4 EPS by 7c

Columbia Banking System (NASDAQ: COLB) reported Q4 EPS of $0.61, $0.07 worse than the analyst estimate of $0.68.

• Record full year 2018 net income of $172.9 million; diluted earnings per share of $2.36
• Fourth quarter net income of $44.7 million; diluted earnings per share of $0.61, which included $0.01 per share negative impact from acquisition-related expenses
• Record full year production of $1.43 billion and fourth quarter loan production of $388.4 million
• Deposit costs increased modestly but remained low at 15 basis points
• Nonperforming assets to period end assets ratio decreased to 0.46%
• Regular cash dividend increased to $0.28 while special cash dividend maintained at $0.14

Hadley Robbins, President and Chief Executive Officer of Columbia Banking System and Columbia Bank said today upon the release of Columbia's fourth quarter 2018 earnings, "We had a record year in terms of net income and loan production. Our bankers did an exceptional job in a very competitive environment. We maintained a strong core deposit mix and low funding costs and actively managed our credit exposures, resulting in low levels of nonperforming assets."

For earnings history and earnings-related data on Columbia Banking System (COLB) click here.

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