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Columbia Banking: 1Q Earnings Snapshot

TACOMA, Wash. (AP) _ Columbia Banking System Inc. (COLB) on Thursday reported first-quarter profit of $45.9 million.

The bank, based in Tacoma, Washington, said it had earnings of 63 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The bank holding company posted revenue of $150.6 million in the period. Its revenue net of interest expense was $142.7 million, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $147.8 million.

Columbia Banking shares have decreased almost 4 percent since the beginning of the year.

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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