Columbia Banking System Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company's total interest income was $86,734,000 compared to $82,769,000 a year ago. Net interest income was $85,737,000 compared to $81,819,000 a year ago. Net interest income after provision for loan and lease losses was $85,719,000 compared to $79,470,000 a year ago. The linked quarter increase was principally from taxable securities income, whose yields benefited from a market-driven reduction in premium amortization. The increase from the prior year period was due to higher loan and securities volumes as well as the previously noted reduction in securities premium amortization. Income before income was $43,035,000 compared to $37,338,000 a year ago. Net income was $30,718,000 or $0.53 per basic and diluted share, compared to $26,740,000 or $0.46 per basic and diluted share, a year ago. Book value per share was $21.52 against $21.48 reported a year ago. Return on average assets was 1.29% against 1.20% and return on average common equity was 9.68% against 8.50% reported last year.

For the year to date, the company's total interest income was $337,969,000 compared to $328,891,000 a year ago. Net interest income was $333,619,000 compared to $324,887,000 a year ago. Income before income was $149,781,000 compared to $141,620,000 a year ago. Net income was $104,866,000 or $1.81 per basic and diluted share, compared to $98,827,000 or $1.71 per diluted share, a year ago. Return on average assets was 1.13% against 1.14% and return on average common equity was 8.27% against 7.93% reported last year.

For the quarter, the company net charge-offs was $239,000 compared to $3,226,000 a year ago.