Tacoma-based Columbia Bank saw another positive quarter with record new-loan production and the bank’s 11th consecutive quarter for a special dividend payout.
Columbia Bank released its third-quarter earnings Thursday.
“Our bankers delivered another impressive quarter of record loan production while maintaining good portfolio diversification,” said Columbia President and CEO Melanie Dressel in a news release.
▪ Net income of $27.5 million with diluted earnings per common share of 47 cents.
▪ New-loan production for the quarter totaled $375.3 million.
▪ Deposits increased $384.6 million during the quarter, resulting in growth of 10 percent from the same quarter last year.
▪ Columbia’s board approved a quarterly cash dividend of 20 cents per common share, and a special cash dividend of 19 cents per common share.