Columbia Commercial Bancorp Reports Third Quarter 2013 Results
HILLSBORO, OR--(Marketwired - Oct 24, 2013) - Columbia
Commercial Bancorp (OTCBB: CLBC), a single bank holding company for
Columbia Community Bank (the Bank), reports a net profit of $1.1
million, or $0.28 per diluted share, for the nine months ended
September 30, 2013, compared to net income of $638,000, or $0.20
per diluted share, for the same nine month period in 2012. Net
income for third quarter 2013 of $466,000, or $0.10 per diluted
share, was up from the $303,000, or $0.08 per diluted share, in the
second quarter of 2013, and up from the $368,000, or $0.10 per
diluted share, for the first quarter of 2013.
"As Columbia Community Bank continues to strengthen both its
asset and liability mix, net interest income continues to grow as
do our earnings," stated the Company's President and CEO, Rick A.
Roby. "And with the successful $6.6 million common stock offering
completed this past quarter which significantly bolstered the
Bank's capital levels, the foundation has been established for
continued growth and success in the years ahead," added Mr.
Roby.
Assets
Total assets at $339.2 million as of September 30, 2013
increased $16.5 million, or 5.1%, from the $322.7 million as of
December 31, 2012. This increase was primarily from the
increase in cash due to increased deposits at the Bank. When
compared to the $346.0 million as of September 30, 2012, total
assets were down $6.8 million, or 2.0% which was due to the Bank's
successful deleveraging strategy during fourth quarter
2012.
Total loans were $244.8 million at both September 30, 2013 and
December 31, 2012, and were up $1.0 million, or 0.4%, since
September 30, 2012. "While total outstanding loans may have
not changed so far this year, the staff has been very busy and
quite successful at generating non-construction related loans which
is evident by the changes in those outstanding loan balances,"
states the Bank's Chief Credit Officer, Fred Johnson. Real
estate acquisition, development, and construction loans were $32.2
million, or 13.2% of total loans, as of September 30, 2013 and were
down $9.0 million when compared to the $41.2 million as of December
31, 2012 when these loans were 16.8% of the Bank's total
outstanding loans. Commercial and Industrial (C&I) loans
outstanding were $75.1 million, or 30.7% of total outstanding
loans, as of September 30, 2013, which was consistent with prior
year-end amounts. Commercial real estate loans at $110.4
million, or 45.1% of total loans, as of September 30, 2013 were up
$14.6 million since December 31, 2012.
The allowance for loan losses as of September 30, 2013 at $6.1
million, or 2.49% of loans, was fairly consistent with the $6.2
million, or 2.51% of loans as of December 31, 2012. These
amounts were lower than the $7.0 million, or 2.86% of loans, as of
September 2012, as during the fourth quarter of 2012 due to the
continued improvement in the loan portfolio's underlying credit
metrics, the Bank took a negative loan provision of $750,000, which
was a reduction to the outstanding allowance for loan
losses. Year-to-date 2013, the Bank had $290,000 in loan
charge-offs and $229,000 in loan recoveries, or net losses of
$61,000 compared to the same nine month period in 2012 when loan
charge-offs were $1.7 million and recoveries were $1.6 million,
resulting in net losses of $120,000.
As of September 30, 2013 the Bank had no loans past due over 30
days and still accruing interest compared to June 30, 2013 when the
Bank had $5.3 million in loans that were past due between 30 to 89
days which were still accruing interest and were all related to one
adversely classified borrower that has subsequently been moved to
non-accrual status as the Bank works toward resolution.
Other real estate owned (OREO) at $9.0 million as of September
30, 2013 was an increase over recent quarters as the Bank finalized
foreclosure on two problem loan relationships totaling $2.4
million. Non-performing assets which consist of both OREO and
loans on nonaccrual status totaled $18.9 million as of September
30, 2013. This was an increase over the $14.0 million as of
June 30, 2013 and the $17.7 million as of December 31, 2012
resulting from the $5.3 million loan relationship previously
mentioned being moved into nonaccrual status. Nonaccrual loans
as of September 30, 2013 consisted of eight relationships ranging
in size from $17,000 to $5.2 million and totaled $9.9
million. OREO as of September 30, 2013 consisted of nine
properties with carrying amounts ranging from $45,000 to $4.6
million.
As of September 30, 2013 the Bank has over $43.0 million of
excess cash and unpledged securities. This provides ample
opportunities for loan growth and funds for reducing liabilities
such as the $1.9 million brokered deposit maturing in the early
part of fourth quarter 2013.
Deposits
"We continue to see the benefit of the Bank's increased
initiatives around deposit acquisition put in place a few years
ago. This core deposit growth allows us to substantially
reduce our reliance on other more expensive funding sources,"
states Bob Ekblad, the Company's Chief Financial
Officer. Total deposits were $236.2 million as of September
30, 2013 which was an increase of $8.2 million, or 3.6%, when
compared to the $228.0 million as of December 31, 2012. And
while total deposits as of September 30, 2013 were down $1.7
million, or 0.7%, when compared to the September 30, 2012 amount of
$237.9 million, Mr. Ekblad adds, "It is important to understand the
significant reduction in brokered and other non-traditional
out-of-area time deposits which totaled $11.3 million over the past
nine months and $21.5 million over the past twelve
months." Adjusting for the reductions in brokered and other
non-traditional out-of-area time deposits, the Bank's core deposits
have grown $19.7 million over this past year. As of September
30, 2013, brokered deposits of $2.3 million were down $7.1 million
when compared to the $9.4 million outstanding as of September 30,
2012. As of September 30, 2013, other non-traditional
out-of-area time deposits were $41.3 million, or down $14.4 million
when compared to the $55.7 million outstanding as of September 30,
2012.
Earnings
Net interest income continues to grow each quarter and
year-over-year. At $7.8 million for the nine months ended
September 30, 2013, net interest income was $605,000, or 8.4%
higher than the $7.2 million for the same period last
year. Net interest margin at 3.48% for the third quarter of
2013 was nine basis points higher than the prior quarter and at
3.42% for the nine months ended September 30, 2013, it was sixteen
basis points higher than the 3.26% for the same period in
2012. "While total loans have remained relatively flat and
their yields are continually under pressure from scheduled
repricings and market competition, the Company has been able to
increase its net interest income by focusing heavily on the
liability side of the balance sheet through paying off or
converting debt, reducing expensive brokered and other
non-traditional deposits, favorable repricings, and improving the
rest of our overall deposit mix to lower costing funds," adds Mr.
Ekblad.
Noninterest income for the first nine months of 2013 at $464,000
was down from the $490,000 for the same period in 2012 due to
reduced rental receipts on OREO properties that the Bank no longer
holds; however, this reduction was somewhat offset by increased
service charges and other income as evidenced by the slight
increase in noninterest income to $164,000 for 3rd quarter 2013
compared to $156,000 for the prior quarter. Noninterest
expense for the nine months ended September 30, 2013 at $6.8
million was $305,000, or 4.7% higher than in the same period in
2012. Problem loan and OREO expenses continue to be high as
the Bank works these non-performing assets to final resolution;
these costs were $315,000 for the first nine months of 2013
compared to $189,000 for the same period of 2012. And Mr. Roby
adds, "The other attributes increasing noninterest expense for the
period relate to a number of the Bank's strategic initiatives such
as hiring a cash management specialist to complement the rest of
the deposit acquisition team and also opening a new loan production
office with a seasoned and local lender in the Newberg market which
we believe will provide the Bank with countless opportunities in
the months and years ahead."
Equity and Capital
Stockholders' equity for the Company at $28.6 million as of
September 30, 2013 has increased $7.1 million, or 33.0%, when
compared to the $21.5 million as of December 31, 2012. Besides
retained profits for this year, the increase in equity was
primarily the result of a successful common stock offering
completed this quarter where the Company sold 1,760,222 of its
common shares to a variety of accredited investors through a
private placement at $3.75 per share for a total of $6.6
million. "While this recently completed stock raise
strengthens the Company as a whole, most of the proceeds have been
down-streamed to the Bank to bolster its capital levels in support
of its continued growth and other strategic objectives," adds Mr.
Roby. The Bank's leverage ratio was 10.95% as of September 30,
2013 compared to 8.79% and 8.27% as of December 31, 2012 and
September 30, 2012, while its total risk based capital was 14.37%
as of September 30, 2013, compared to 12.16% as of December 31,
2012 and 11.71% as of September 30, 2012.
Current stockholders' equity was up $9.5 million, or 50.0%, when
compared to the September 30, 2012 amount of $19.1
million. Besides retained earnings over the past twelve months
and the recent stock issuance, also during the fourth quarter of
2012 the Company converted $1.9 million of its 8.50% subordinated
notes into 496,596 common shares.
About Columbia
Commercial Bancorp:
Information about the Company's stock may be obtained through
the OTCQB marketplace at www.otcmarkets.com. Columbia Commercial
Bancorp's stock symbol is CLBC.
Columbia Commercial Bancorp was formed in 2002 as a holding
company for Columbia Community Bank, which was opened in 1999 by
local business people to deliver loan and deposit product solutions
through experienced and professional bankers to businesses,
nonprofits, professionals, and individuals throughout Washington
County and the greater Portland metropolitan area. The Bank has
been named among the "100 Best Companies to Work for in Oregon" by
Oregon Business Magazine for 2009, 2011, and 2012.
For more information about Columbia Commercial Bancorp, or its
subsidiary, Columbia Community Bank, call (503) 693-7500 or visit
our website at www.columbiacommunitybank.com. Information
contained in or linked to our website is not incorporated as a part
of this release.
Certain statements in this release may constitute
forward-looking statements within the definition of the
"safe-harbor" provisions of Section 21E of the Securities Exchange
Act of 1934, as amended. These forward-looking statements are
subject to significant uncertainties, which could cause actual
results to differ materially from those set forth in such
statements. Forward-looking statements are those that incorporate
management's current expectations and plans based on information
currently known to them. These statements can sometimes be
identified by words such as "believe," "estimate," "anticipate,"
"expect," "intend," "will," "may," "should," or other similar
phrases or words. Readers are cautioned not to place undue reliance
on forward-looking statements. In particular, they should not be
construed as assurances of a given level of performance or as
promises of a given set of management's actions. Some of the
factors that could cause management to deviate from its current
plans, or could cause the Company's results to differ from current
expectations, include the effect of localized or regional economic
shifts that may affect the collectability of loans or the value of
the collateral underlying those loans; the effects of laws,
regulations, policies and government actions upon the Company's
assets and operations; sensitivity to the Northwestern Oregon
geographic markets and events affecting those markets; and the
impacts of new government initiatives upon us and our
borrowers. The Company does not intend to publicly release any
revisions to these forward-looking statements to reflect events or
circumstances after the date of this release or to reflect the
occurrence of unanticipated events.
|
|
Consolidated Balance Sheet |
|
Unaudited |
|
(amounts in 000s, except per share data and
ratios) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% |
|
|
|
|
|
% |
|
|
|
|
|
|
|
|
|
Change |
|
|
December |
|
|
Change |
|
|
|
September 30, |
|
|
2013 vs. |
|
|
31, |
|
|
Year-to- |
|
|
|
2013 |
|
|
2012 |
|
|
2012 |
|
|
2012 |
|
|
Date |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash & due from banks |
|
$ |
33,387 |
|
|
$ |
22,047 |
|
|
51.4 |
% |
|
$ |
19,102 |
|
|
74.8 |
% |
|
Federal funds sold |
|
|
- |
|
|
|
5,000 |
|
|
-100.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
Investment Securities - Available for Sale |
|
|
40,726 |
|
|
|
55,395 |
|
|
-26.5 |
% |
|
|
40,019 |
|
|
1.8 |
% |
|
Investments - Other |
|
|
2,168 |
|
|
|
2,247 |
|
|
-3.5 |
% |
|
|
2,227 |
|
|
-2.6 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross loans |
|
|
244,841 |
|
|
|
243,839 |
|
|
0.4 |
% |
|
|
244,765 |
|
|
0.0 |
% |
|
Allowance for loan losses |
|
|
(6,092 |
) |
|
|
(6,963 |
) |
|
-12.5 |
% |
|
|
(6,153 |
) |
|
-1.0 |
% |
|
|
Net
loans |
|
|
238,749 |
|
|
|
236,876 |
|
|
0.8 |
% |
|
|
238,612 |
|
|
0.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other real estate owned |
|
|
8,993 |
|
|
|
7,358 |
|
|
22.2 |
% |
|
|
7,289 |
|
|
23.4 |
% |
|
Other assets |
|
|
15,175 |
|
|
|
17,109 |
|
|
-11.3 |
% |
|
|
15,370 |
|
|
-1.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Assets |
|
$ |
339,198 |
|
|
$ |
346,032 |
|
|
-2.0 |
% |
|
$ |
322,619 |
|
|
5.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
$ |
236,161 |
|
|
$ |
237,872 |
|
|
-0.7 |
% |
|
$ |
227,977 |
|
|
3.6 |
% |
|
Repurchase agreements |
|
|
17,334 |
|
|
|
24,314 |
|
|
-28.7 |
% |
|
|
17,438 |
|
|
-0.6 |
% |
|
Federal funds purchased |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
0.0 |
% |
|
FHLB borrowings |
|
|
41,000 |
|
|
|
47,900 |
|
|
-14.4 |
% |
|
|
41,000 |
|
|
0.0 |
% |
|
Other borrowings |
|
|
2,494 |
|
|
|
4,516 |
|
|
-44.8 |
% |
|
|
2,579 |
|
|
-3.3 |
% |
|
Junior subordinated debentures |
|
|
8,248 |
|
|
|
8,248 |
|
|
0.0 |
% |
|
|
8,248 |
|
|
0.0 |
% |
|
Other liabilities |
|
|
5,366 |
|
|
|
4,122 |
|
|
30.2 |
% |
|
|
3,882 |
|
|
38.2 |
% |
|
|
Total
Liabilities |
|
|
310,603 |
|
|
|
326,972 |
|
|
-5.0 |
% |
|
|
301,124 |
|
|
3.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
STOCKHOLDERS' EQUITY |
|
|
28,595 |
|
|
|
19,060 |
|
|
50.0 |
% |
|
|
21,495 |
|
|
33.0 |
% |
|
|
Total
Liabilities and Stockholders' Equity |
|
$ |
339,198 |
|
|
$ |
346,032 |
|
|
-2.0 |
% |
|
$ |
322,619 |
|
|
5.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares outstanding at end-of-period |
|
|
5,535,974 |
|
|
|
3,241,581 |
|
|
|
|
|
|
3,759,677 |
|
|
|
|
Book value per share |
|
$ |
5.17 |
|
|
$ |
5.88 |
|
|
|
|
|
$ |
5.72 |
|
|
|
|
Allowance for loan losses to total loans |
|
|
2.49 |
% |
|
|
2.86 |
% |
|
|
|
|
|
2.51 |
% |
|
|
|
Non-performing assets (non-accrual loans &
OREO) |
|
$ |
18,888 |
|
|
$ |
16,766 |
|
|
|
|
|
$ |
17,661 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Tier 1 leverage ratio (5% minimum for
"well-capitalized") |
|
|
10.95 |
% |
|
|
8.27 |
% |
|
|
|
|
|
8.79 |
% |
|
|
|
Bank Tier 1 risk-based capital ratio (6% minimum for
"well-capitalized") |
|
|
13.10 |
% |
|
|
10.44 |
% |
|
|
|
|
|
10.90 |
% |
|
|
|
Bank Total risk-based capital ratio (10% minimum for
"well-capitalized") |
|
|
14.37 |
% |
|
|
11.71 |
% |
|
|
|
|
|
12.16 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Statement of Operations |
|
Unaudited |
|
(amounts in 000s, except per share data and
ratios) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ending |
|
|
|
|
|
Nine Months Ending |
|
|
|
|
|
|
9/30/ 2013 |
|
|
6/30/ 2013 |
|
|
% Change |
|
|
9/30/ 2013 |
|
|
9/30/ 2012 |
|
|
% Change |
|
INTEREST INCOME |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
|
$ |
3,406 |
|
|
$ |
3,341 |
|
|
1.9 |
% |
|
$ |
10,075 |
|
|
$ |
10,379 |
|
|
-2.9 |
% |
|
Investments |
|
|
146 |
|
|
|
121 |
|
|
20.7 |
% |
|
|
406 |
|
|
|
655 |
|
|
-38.0 |
% |
|
Federal funds sold and other |
|
|
13 |
|
|
|
22 |
|
|
-40.9 |
% |
|
|
45 |
|
|
|
55 |
|
|
-18.2 |
% |
|
|
Total
interest income |
|
|
3,565 |
|
|
|
3,484 |
|
|
2.3 |
% |
|
|
10,526 |
|
|
|
11,089 |
|
|
-5.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INTEREST EXPENSE |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deposits |
|
|
334 |
|
|
|
366 |
|
|
-8.7 |
% |
|
|
1,117 |
|
|
|
1,697 |
|
|
-34.2 |
% |
|
Repurchase agreements and federal funds purchased |
|
|
12 |
|
|
|
16 |
|
|
-25.0 |
% |
|
|
55 |
|
|
|
145 |
|
|
-62.1 |
% |
|
FHLB borrowings |
|
|
416 |
|
|
|
413 |
|
|
0.7 |
% |
|
|
1,237 |
|
|
|
1,520 |
|
|
-18.6 |
% |
|
Other borrowings |
|
|
50 |
|
|
|
50 |
|
|
0.0 |
% |
|
|
150 |
|
|
|
361 |
|
|
-58.4 |
% |
|
Junior subordinated debentures |
|
|
63 |
|
|
|
67 |
|
|
-6.0 |
% |
|
|
191 |
|
|
|
195 |
|
|
-2.1 |
% |
|
|
Total
interest expense |
|
|
875 |
|
|
|
912 |
|
|
-4.1 |
% |
|
|
2,750 |
|
|
|
3,918 |
|
|
-29.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INTEREST INCOME BEFORE PROVISION FOR LOAN
LOSSES |
|
|
2,690 |
|
|
|
2,572 |
|
|
4.6 |
% |
|
|
7,776 |
|
|
|
7,171 |
|
|
8.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION FOR LOAN LOSSES |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INTEREST INCOME AFTER PROVISION FOR LOAN
LOSSES |
|
|
2,690 |
|
|
|
2,572 |
|
|
4.6 |
% |
|
|
7,776 |
|
|
|
7,171 |
|
|
8.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-INTEREST INCOME |
|
|
164 |
|
|
|
156 |
|
|
5.1 |
% |
|
|
464 |
|
|
|
490 |
|
|
-5.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NON-INTEREST EXPENSE |
|
|
2,294 |
|
|
|
2,235 |
|
|
2.6 |
% |
|
|
6,776 |
|
|
|
6,471 |
|
|
4.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INVESTMENTS- REALIZED GAINS / (LOSSES) |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
|
18 |
|
|
-100.0 |
% |
INVESTMENTS - OTHER THAN TEMPORARY IMPAIRMENT |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
|
|
- |
|
|
|
- |
|
|
0.0 |
% |
OREO VALUATION ADJUSTMENTS & GAINS/(LOSSES) ON
SALES - NET |
|
|
132 |
|
|
|
(49 |
) |
|
369.4 |
% |
|
|
220 |
|
|
|
36 |
|
|
511.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
INCOME (LOSS) BEFORE PROVISION FOR INCOME TAXES |
|
|
692 |
|
|
|
444 |
|
|
55.9 |
% |
|
|
1,684 |
|
|
|
1,244 |
|
|
35.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PROVISION (BENEFIT) FOR INCOME TAXES |
|
|
226 |
|
|
|
141 |
|
|
60.3 |
% |
|
|
547 |
|
|
|
606 |
|
|
-9.7 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET INCOME (LOSS) |
|
$ |
466 |
|
|
$ |
303 |
|
|
53.8 |
% |
|
$ |
1,137 |
|
|
$ |
638 |
|
|
78.2 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (Loss) per share - Basic |
|
$ |
0.10 |
|
|
$ |
0.08 |
|
|
|
|
|
$ |
0.28 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings (Loss) per share - Diluted |
|
$ |
0.10 |
|
|
$ |
0.08 |
|
|
|
|
|
$ |
0.28 |
|
|
$ |
0.20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average equity |
|
|
7.98 |
% |
|
|
5.51 |
% |
|
|
|
|
|
6.80 |
% |
|
|
4.58 |
% |
|
|
|
Return on average assets |
|
|
0.56 |
% |
|
|
0.37 |
% |
|
|
|
|
|
0.46 |
% |
|
|
0.25 |
% |
|
|
|
Net interest margin |
|
|
3.48 |
% |
|
|
3.39 |
% |
|
|
|
|
|
3.42 |
% |
|
|
3.26 |
% |
|
|
|
Efficiency ratio |
|
|
80.4 |
% |
|
|
81.9 |
% |
|
|
|
|
|
82.2 |
% |
|
|
84.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CONTACT: Rick A. Roby President and Chief Executive Officer
503-693-7500 rick@columbiacommunitybank.com