Columbia Banking System Inc. (COLB, Financial) filed Annual Report for the period ended 2011-12-31.
Columbia Bk Sys has a market cap of $857.6 million; its shares were traded at around $21.15 with a P/E ratio of 18.2 and P/S ratio of 3.5. The dividend yield of Columbia Bk Sys stocks is 1.5%.
For the years ended December 31, 2011, 2010 and 2009 we recorded income tax provisions of $17.9 million and $2.3 million and an income tax benefit of $9.0 million, respectively. The effective tax rate was 27% in 2011, 7% in 2010 and the effective tax benefit was 69% in 2009. For additional information, see Note 22 to the Consolidated Financial Statements in “Item 8. Financial Statements and Supplementary Data” of this report. Our effective tax rate continues to be less than our statutory rate of 36.02% primarily due to the amount of tax-exempt municipal securities held in the investment portfolio, tax exempt earnings on bank owned life insurance, and tax credits received on investments in affordable housing partnerships.
Purchases during 2011 totaled $453.0 million while maturities, repayments and sales totaled $221.0 million compared to purchases of $179.3 million and maturities, repayments and sales of $162.1 million during 2010. At December 31, 2011 U.S. government agency and government-sponsored enterprise mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMO”) comprised 68% of our investment portfolio, state and municipal securities were 28%, government agency and government-sponsored enterprise securities were 4%. Our entire investment portfolio is categorized as available for sale and carried on our balance sheet at fair value. The average duration of our investment portfolio was approximately 2 years and 10 months at December 31, 2011.
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Columbia Bk Sys has a market cap of $857.6 million; its shares were traded at around $21.15 with a P/E ratio of 18.2 and P/S ratio of 3.5. The dividend yield of Columbia Bk Sys stocks is 1.5%.
Highlight of Business Operations:
Business clients that utilize Columbia s Merchant Card Services have the ability to accept Visa®, MasterCard® and Discover® sales drafts for deposit directly into their business checking account. Merchants are provided with a comprehensive accounting system tailored to meet each merchant s needs, which includes month-to-date credit card deposit information on a transaction statement. Internet access is available to view merchant reports that allow business customers to review merchant statements, authorized, captured, cleared and settled transactions.For the years ended December 31, 2011, 2010 and 2009 we recorded income tax provisions of $17.9 million and $2.3 million and an income tax benefit of $9.0 million, respectively. The effective tax rate was 27% in 2011, 7% in 2010 and the effective tax benefit was 69% in 2009. For additional information, see Note 22 to the Consolidated Financial Statements in “Item 8. Financial Statements and Supplementary Data” of this report. Our effective tax rate continues to be less than our statutory rate of 36.02% primarily due to the amount of tax-exempt municipal securities held in the investment portfolio, tax exempt earnings on bank owned life insurance, and tax credits received on investments in affordable housing partnerships.
Purchases during 2011 totaled $453.0 million while maturities, repayments and sales totaled $221.0 million compared to purchases of $179.3 million and maturities, repayments and sales of $162.1 million during 2010. At December 31, 2011 U.S. government agency and government-sponsored enterprise mortgage-backed securities (“MBS”) and collateralized mortgage obligations (“CMO”) comprised 68% of our investment portfolio, state and municipal securities were 28%, government agency and government-sponsored enterprise securities were 4%. Our entire investment portfolio is categorized as available for sale and carried on our balance sheet at fair value. The average duration of our investment portfolio was approximately 2 years and 10 months at December 31, 2011.
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