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Columbia Banking System (COLB), Prosperity Bancshares (PB), Crescent Financial Bancshares (CRFN) and Bell State Bank & Trust completed acquisitions Monday.
April 1 -
Columbia Banking System's chief operating officer and executive vice president Mark Nelson will retire on Sept. 30.
July 9 -
Improved asset quality and lower expenses lifted Columbia Banking System (COLB) in the first quarter.
April 25
Columbia Banking System (COLB) in Tacoma, Wash., reported higher quarterly earnings.
The $7.1 billion-asset company's earnings rose 23% from a year earlier, to $14.6 million, or 28 cents a share.
Net interest income rose 34% from a year earlier, to $80 million, partially reflecting Columbia's
Noninterest expense rose 62% from the second quarter of 2012, to $64.5 million. Columbia recorded $9.2 million of costs related to the West Coast acquisition.
Noninterest income fell 42% from a year earlier, to $6.8 million, as a change in its Federal Deposit Insurance Corp. loss-sharing asset cut into revenue by $13 million. Service charges and other fees rose $6.1 million from a year earlier, largely due to the acquisition of West Coast.
The loan-loss provision fell 47% from a year earlier, to $2 million, and net chargeoffs fell 63%, to $1.4 million.
