From 31st place last year, Tacoma-based Columbia Bank this year rose to 17th place on the latest list of “America’s Best and Worst Banks” as assembled by Forbes Magazine.
Columbia is the highest rated bank from Washington on the list, and came just behind Oregon-based Umpqua at 16th place.
“The Forbes list is meaningful recognition for us since it acknowledges not just our growth, but our commitment to providing a strong and secure community bank to best serve our customers,” stated Columbia President and CEO Melanie Dressel in a release this week.
Data used to compile the list last September did not include Columbia’s recent acquisition of Intermountain Community Bancorp, which became effective November 1. The Forbes list calculated results using criteria including net interest margin, nonperforming loans, reserves and capital ratios.