Columbia Banking System, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
April 26, 2024 at 02:02 am IST
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Columbia Banking System, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported net interest income was USD 423.36 million compared to USD 374.7 million a year ago. Net income was USD 124.08 million compared to net loss of USD 14.04 million a year ago.
Basic earnings per share from continuing operations was USD 0.6 compared to basic loss per share from continuing operations of USD 0.09 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to diluted loss per share from continuing operations of USD 0.09 a year ago.
Columbia Banking System, Inc. is the bank holding company for Umpqua Bank (the Bank). Through the Bank, the Company provides a broad range of banking, private banking, mortgage, and other financial services to corporate, institutional, small business, and individual customers. The bank offers specialized loans for corporate, middle market, and small business customers, including commercial lines of credit and term loans, and others. It offers deposit products, including non-interest-bearing checking accounts, analyzed business accounts, interest-bearing checking and savings accounts, money market accounts, insured cash sweep and other investment sweep solutions. The Bank also provides loans to individual borrowers for a variety of purposes, including secured and unsecured personal loans, home equity and personal lines of credit, and motor vehicle loans. The Bank primarily operates in Arizona, California, Colorado, Idaho, Nevada, Oregon, Utah, and Washington State.
COLUMBIA BANKING SYSTEM, INC. 
