TACOMA, Wash. (AP) — TACOMA, Wash. (AP) — Columbia Banking System Inc. (COLB) on Wednesday reported fourth-quarter earnings of $93.5 million.
The bank, based in Tacoma, Washington, said it had earnings of 45 cents per share. Earnings, adjusted for non-recurring gains, came to 44 cents per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The bank holding company posted revenue of $757.2 million in the period. Its revenue net of interest expense was $519.2 million, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $531.1 million.
For the year, the company reported profit of $348.7 million, or $1.78 per share. Revenue was reported as $2 billion.
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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