Summary Of Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Financial Information (Unaudited)

Quarterly financial information for the years ended December 31, 2020 and 2019 is summarized as follows:


	Fourth Quarter		Third Quarter		Second Quarter (2)		First Quarter		Year Ended December 31,
	(in thousands, except per share amounts)
2020
Total interest income	$	133,296	$	127,384	$	126,232	$	130,897	$	517,809
Total interest expense	2,184		2,658		4,381		8,475		17,698
Net interest income	131,112		124,726		121,851		122,422		500,111
Provision (recapture) for credit losses	(4,700)		7,400		33,500		41,500		77,700
Noninterest income	23,562		22,472		37,259		21,207		104,500
Noninterest expense	84,300		85,115		80,833		84,271		334,519
Income before income taxes	75,074		54,683		44,777		17,858		192,392
Provision for income taxes	16,774		9,949		8,195		3,230		38,148
Net income	$	58,300	$	44,734	$	36,582	$	14,628	$	154,244
Per common share (1)
Earnings (basic)	$	0.82	$	0.63	$	0.52	$	0.20	$	2.17
Earnings (diluted)	$	0.82	$	0.63	$	0.52	$	0.20	$	2.17

2019
Total interest income	$	133,109	$	132,533	$	135,422	$	128,888	$	529,952
Total interest expense	8,292		10,083		10,306		7,866		36,547
Net interest income	124,817		122,450		125,116		121,022		493,405
Provision for credit losses	1,614		299		218		1,362		3,493
Noninterest income	21,807		28,030		25,648		21,696		97,181
Noninterest expense	86,978		87,076		86,728		84,700		345,482
Income before income taxes	58,032		63,105		63,818		56,656		241,611
Provision for income taxes	11,903		12,378		12,094		10,785		47,160
Net income	$	46,129	$	50,727	$	51,724	$	45,871	$	194,451
Per common share (1)
Earnings (basic)	$	0.64	$	0.70	$	0.71	$	0.63	$	2.68
Earnings (diluted)	$	0.64	$	0.70	$	0.71	$	0.63	$	2.68

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(1) Due to averaging of shares, quarterly EPS may not add up to the totals reported for the full year.

(2) During the second quarter of 2020, Columbia sold a portion of its Visa Class B restricted stock and subsequently wrote up to fair value the remaining Visa Class B shares. The gain from the sale of shares and the increase in the fair value of the remaining Visa Class B restricted shares were included in noninterest income on the Consolidated Statements of Income. For additional information, see Note 3. “Securities” and Note 20. “Fair Value Accounting and Measurement” for further information regarding this transaction.