$1.65 ; further decline with oct 31 reporting: problematic loans and loss;
Problem loans prove costly for Columbia Bancorp
6:49a ET October 31, 2008 (MarketWatch)
WASHINGTON (MarketWatch) -- Columbia Bancorp reported a third-quarter net loss of $14.1 million, or $1.41 a share, a reversal from the prior year's profit of $3.9 million, or 38 cents a share. The Dalles, Ore.-based company took a loan-loss provision of $25.4 million during the latest quarter, reflecting a "continued and significant decline" in the fair values of properties used to secure residential construction and development loans. Non-accrual loans jumped to $63.2 million in the September quarter, and net charge-offs increased by $19.5 million from second-quarter levels, Columbia Bancorp's data showed. A pair of analysts surveyed by FactSet Research had been looking for a quarterly loss of 10 cents a share.
