 Clint Stein, President and Chief Executive Officer of Columbia Banking System, Inc. and Columbia Bank NASDAQ: COLB Columbia, said today upon the release of Columbias first quarter 2020 earnings, COVID-19 had a profound impact on the final weeks of the first quarter and drove a material increase in our allowance for credit losses. We focused on initiatives intended to improve our operating leverage and their positive impact is reflected in our financial results. Mr. Stein continued, We experienced strong loan and deposit growth during the quarter with several lines of business experiencing record first quarter performance. In addition, we focused on efficiency initiatives that significantly lowered our expense ratios. 