Columbia Banking System Inc (COLB) Q1 2020 Earnings Call Transcript

Columbia Banking System Inc (COLB) Q1 2020 Earnings Call Transcript

I would now like to turn the call over to your host, Clint Stein, President and Chief Executive Officer of Columbia Banking System.. Good morning everyone and thank you for joining us on today's call as we review our first quarter results, which we released before the market opened this morning.. EPS declined by $0.44 on a linked quarter basis due to the related credit-loss provision expense of $41.5 million.. On the call with me today are Eric Eid who until this past Monday was our Interim Chief Financial Officer; Chris Merrywell, our Chief Operating Officer and Andy McDonald, our Chief Credit Officer.. Pre-tax pre-provision income was $59.4 million and was $1.3 million higher than the first quarter of 2019.. Net interest income for the first quarter was $122.4 million, a decrease of $2.4 million on a linked quarter basis and an increase of $1.4 million from first quarter 2019.. The operating NIM of 4.02% was down 7 basis points on a linked quarter basis, primarily due to lower loan yields.. Our cost of deposits continue to be industry-leading at 14 basis points, down 7 basis points on a linked quarter basis.. Our typical seasonal pattern is for a little