The parent company of Tacoma’s Columbia Bank said fourth-quarter net income slipped to $13.5 million, or 34 cents a share, from $14.8 million, or 37 cents a share, in the same period a year ago.
The company said the decline was due to its government-assisted acquisition of three failed banks in 2011, which gave it a one-time earnings boost a year ago.
Over the year, total deposits grew 6 percent to $4.04 billion, while loans not covered by the government grew 8 percent.
A cash dividend of 10 cents a share, up from 9 cents a share last quarter, will be paid on Feb. 20 to shareholders of record on Feb. 6.
- Artificially produced water delivers Israel from drought
- Seahawks' Michael Bennett admits he wants a new deal
- 'Granny panties' making a comeback as women say no to thongs
- 2nd man comes forward with accusation against Hastert
- Seahawks' honest approach won over cornerback Cary Williams in free-agency tour