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Columbia Banking: Q3 Earnings Snapshot

Columbia Banking: Q3 Earnings Snapshot

TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Wednesday reported third-quarter earnings of $135.8 million.

The bank, based in Tacoma, Washington, said it had earnings of 65 cents per share. Earnings, adjusted for non-recurring costs, came to 79 cents per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The bank holding company posted revenue of $740 million in the period. Its revenue net of interest expense was $524.9 million, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $522.9 million.