Tacoma-based Columbia Banking System on Thursday reported fourth quarter income of $13.5 million, a decline from fourth quarter income of $14.8 million reported for the fourth quarter of 2011. Earnings per share for the quarter were 34 cents, compared to 37 cents the year before.
The decline, Columbia reported in a release, “was due to the enhanced benefits realized in the fourth quarter of 2011 from Columbia’s FDIC-assisted transactions.”
A decline in net interest margin, from 5.52 percent a year ago to 5.15 percent in the latest quarter, was “impacted significantly by the accounting for acquired loans.”
At the …