Columbia Banking System ( (COLB) ) has issued an update.
Columbia Banking System, Inc. reported strong third quarter 2024 results, showcasing a 25% reduction in costs and solid core deposit growth. Despite a contraction in loan balances, the bank maintained healthy customer activity and a net interest margin of 3.56%. The CEO highlighted operational efficiency improvements, contributing to an $82 million cost-saving and strategic reinvestment plans. The company declared a $0.36 per share dividend, demonstrating a commitment to delivering consistent returns to shareholders.
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