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Originally published January 26, 2012 at 10:37 AM | Page modified January 26, 2012 at 10:13 PM
Columbia Banking's quarterly profit rises 17 percent
Columbia Banking System had fourth-quarter net income of $14.8 million.
Columbia Banking System, the Tacoma holding company of Columbia Bank, said Thursday it had fourth-quarter net income of $14.8 million, or 37 cents a share, up 17 percent from $12.6 million, or 32 cents a share, a year ago.
For the year, the company's net income was $48 million, up from $25.8 million in 2010.. It attributed the growth partly to its government-assisted acquisitions of First Heritage Bank, Summit Bank and Bank of Whitman.
The company also announced it would pay a quarterly cash dividend of 8 cents a share and a special cash dividend of 29 cents a share. The dividends will be paid on Feb. 22 to shareholders of record on Feb. 8.
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