Columbia Banking System (COLB) Misses Q1 EPS by 24c

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Go back to Columbia Banking System (COLB) Misses Q1 EPS by 24c

Columbia Banking System Announces First Quarter 2020 Results and Quarterly Cash Dividend

April 30, 2020 9:01 AM EDT

TACOMA, Wash., April 30, 2020 /PRNewswire/ -- Clint Stein, President and Chief Executive Officer of Columbia Banking System, Inc. and Columbia Bank (NASDAQ: COLB) ("Columbia"), said today upon the release of Columbia's first quarter 2020 earnings, "COVID-19 had a profound impact on the final weeks of the first quarter and drove a material increase in our allowance for credit losses. We focused on initiatives intended to improve our operating leverage and their positive impact is reflected in our financial results." Mr. Stein continued, "We experienced strong loan and deposit growth during the quarter with several... More