The latest update is out from Columbia Banking System ( (COLB) ).
Columbia Banking System, Inc. reported its fourth-quarter 2024 results, showcasing a significant improvement in financial performance. The company achieved a net income of $143 million and operating net income of $150 million, with earnings per share of $0.68 and operating earnings per share of $0.71. The results reflect efforts in optimizing expenses, enhancing pricing strategies, and investing in targeted franchises. Key highlights include a net interest margin increase to 3.64%, a decline in non-interest income due to accounting fluctuations, and a reduction in non-interest expenses. The company also plans to expand its branch network in 2025, using savings from branch consolidations in 2024, highlighting a strategic focus on growth and efficiency.
More about Columbia Banking System
YTD Price Performance: 7.37%
Average Trading Volume: 1,554,914
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $6.04B
Find detailed analytics on COLB stock on TipRanks’ Stock Analysis page.