Columbia Banking System Inc (NAS:COLB)
$ 20.32 0.26 (1.3%) Market Cap: 4.25 Bil Enterprise Value: 6.51 Bil PE Ratio: 8.72 PB Ratio: 0.86 GF Score: 38/100
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Q4 2020 Columbia Banking System Inc Earnings Call Transcript

Jan 28, 2021 / 06:00PM GMT
Operator

Ladies and gentlemen, thank you for standing by, and welcome to Columbia Banking System's Fourth Quarter and Full Year 2020 Earnings Update. (Operator Instructions) As a reminder, this conference is being recorded.

I would now like to turn the call over to your host, Clint Stein, President and Chief Executive Officer of Columbia Banking System. Please go ahead, sir.

Clint E. Stein
Columbia Banking System, Inc. - CEO, President & Director

Thank you, Carmen. Welcome, and good morning, everyone, and thank you for joining us on today's call as we review our fourth quarter and full year 2020 results. Our earnings release and investor presentation are available at columbiabank.com.

Amidst the turmoil in 2020 caused by the pandemic, social unrest, turbulent financial markets and contentious election cycle, Columbia achieved another record year. Pretax, preprovision income of over $270 million was our best year yet, eclipsing the record set just last year by $25 million. The pandemic drove our provision expense for credit losses to an all-time

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