Columbia Banking System Inc. Q1 2008 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2008-05-09 14:26:21.0

Tags: Columbia Banking System Inc.

Question-and-Answer Session

Operator

(Operator Instruction). Your first question comes from the line of Matthew Clark

Matthew Clark - Keefe, Bruyette & Woods

Good morning.

Melanie Dressel

Hi, Matthew.

Matthew Clark - Keefe, Bruyette & Woods

Can you update us on the medical [niche] lending team that you guys acquired earlier this year in terms of I guess, updates on how they are doing in terms of portfolio size and whether or not there has been any additions?

Mark Nelson

Well, yeah, actually they've been doing very well. We had a budget developed for them which also was the basis for their incentive plan going forward. And I'm happy to report through the first quarter, they are substantial ahead of where we anticipated that they would be. They continue to bring in a lot of great relationships and also deposits related to those relationships. So, I would say they have been way more successful than we originally alluded to.

Matthew Clark - Keefe, Bruyette & Woods

Okay, and the team is the same size, I would assume --

Mark Nelson

Yes.

Matthew Clark - Keefe, Bruyette & Woods

Okay. And then in terms of the floor gain from the floors in the quarter, I know that it's going to persist for the next few years, which is great. But just -- and I'm not 100% sure if that 1.7 million that you anticipate, coming into interest income is evenly distributed throughout the year or not. So, I was just curious as to how much came in the first quarter here.

Gary Schminkey

About -- hey Matt. this is Gary,

Matthew Clark - Keefe, Bruyette & Woods

Hi, Gary.

Gary Schminkey

It's about 180,000 in the first quarter and it's not even throughout the year. I can provide that possibly may be next quarter with that hope, if you had it by quarter?

Matthew Clark - Keefe, Bruyette & Woods

Not necessarily. I can follow-up with you offline.

Mark Nelson

Okay.

Matthew Clark - Keefe, Bruyette & Woods

Thanks. And then, in terms of the margin, obviously a big surprise and I'm assuming some of that related to the mix of commercial deposits that you guys have, can you just touch -- give us a sense for where some of those sweet deposits may be, being priced and how the retention looks there?

Melanie Dressel

I'll comment first, Matt, and then let Mark jump in here. We have just really been managing our deposit pricing very -- we meet every week and review what the competition is doing and we're very sensitive to not being in a position of losing deposits and I am just very pleased with what the pricing committee has been able to do. Mark, would you like to fill in some more detail?

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement