Banner Corporation - Common Stock (BANR)

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today announced that it will report its first quarter results after the market closes on Wednesday, April 16, 2025. Management will host a conference call on Thursday, April 17, 2025, at 8:00 a.m. PT (11:00 a.m. ET) to discuss the results. The call will also be broadcast live via the internet.

The Banner Bank leadership team is pleased to announce the Bank ranked highest in the Northwest region for customer satisfaction in the just-released J.D. Power U.S. Retail Banking Satisfaction Study. This is the fifth time* in the past decade Banner Bank has earned this recognition.

Forbes has named Banner Bank one of the 100 Best Banks in America for the ninth consecutive year. Banner is one of only two banks headquartered in Washington to make the list—and the highest ranked at number 27.

Banner Corporation (NASDAQ:BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $46.4 million, or $1.34 per diluted share, for the fourth quarter of 2024, compared to $45.2 million, or $1.30 per diluted share, for the preceding quarter and $42.6 million, or $1.24 per diluted share, for the fourth quarter of 2023. Net interest income was $140.5 million in the fourth quarter of 2024, compared to $135.7 million in the preceding quarter and $138.4 million in the fourth quarter a year ago. The increase in net interest income compared to the preceding quarter reflects a decrease in funding costs and an increase in interest-earning assets, partially offset by a decrease in yields on interest earning assets. The increase in net interest income compared to the prior year quarter reflects an increase in both the yield and average balance of interest earning assets, partially offset by an increase in funding costs. Fourth quarter 2024 results included a $3.0 million provision for credit losses, up from $1.7 million in the preceding quarter and $2.5 million in the fourth quarter of 2023.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today announced that it will report its fourth quarter results after the market closes on Wednesday, January 22, 2025. Management will host a conference call on Thursday, January 23, 2025, at 8:00 a.m. PT (11:00 a.m. ET) to discuss the results. The call will also be broadcast live via the internet.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $45.2 million, or $1.30 per diluted share, for the third quarter of 2024, compared to $39.8 million, or $1.15 per diluted share, for the preceding quarter and $45.9 million, or $1.33 per diluted share, for the third quarter of 2023. Net interest income was $135.7 million in the third quarter of 2024, compared to $132.5 million in the preceding quarter and $141.8 million in the third quarter a year ago. The increase in net interest income compared to the preceding quarter reflects an increase in interest-earning assets and net interest margin. The decrease in net interest income compared to the prior year quarter reflects an increase in funding costs, partially offset by an increase in yields on earning assets. Banner’s results for the preceding quarter included a $562,000 net loss on the sale of securities and for the third quarter a year ago a $2.7 million net loss recorded on the sale of securities, compared to no gain or loss during the current quarter as no securities were sold during the third quarter of 2024. Third quarter 2024 results included a $1.7 million provision for credit losses, down from $2.4 million in the preceding quarter and $2.0 million in the third quarter of 2023.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today announced that it will report its third quarter results after the market closes on Wednesday, October 16, 2024. Management will host a conference call on Thursday, October 17, 2024, at 8:00 a.m. PT (11:00 a.m. ET) to discuss the results. The call will also be broadcast live via the internet.

Newsweek again named Banner Bank one the World’s Most Trustworthy Companies, ranking Banner fifth among all banks on the 2024 list and the highest-ranked U.S. bank. Newsweek states their list recognizes companies that have earned the confidence of consumers, investors and employees by producing quality products, paying employees fair wages and appointing effective leaders.

The Banner Bank executive leadership team is expanding to include a Chief Banking Officer and Mark Borrecco has been hired to fill the role. Borrecco is overseeing the Bank’s production lines of business, including commercial, commercial real estate, community banking and mortgage. He is responsible for executing on the Bank’s initiatives to enhance the client experience while ensuring continuing growth and profitability across all banking divisions.

Banner Corporation (NASDAQ: BANR) (“Company”), the parent company of Banner Bank, today announced that its Board of Directors has authorized the repurchase of up to 1,722,787 shares of the Company’s common stock, which is approximately 5% of its issued and outstanding common stock.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $39.8 million, or $1.15 per diluted share, for the second quarter of 2024, compared to $37.6 million, or $1.09 per diluted share, for the preceding quarter and $39.6 million, or $1.15 per diluted share, for the second quarter of 2023. Net interest income was $132.5 million in the second quarter of 2024, compared to $133.0 million in the preceding quarter and $142.5 million in the second quarter a year ago. The decrease in net interest income compared to the preceding quarter and prior year quarter reflects an increase in funding costs, partially offset by an increase in yields on earning assets. Banner’s second quarter 2024 results included a $562,000 net loss on the sale of securities, compared to a $4.9 million net loss on the sale of securities in the preceding quarter and a $4.5 million net loss on the sale of securities in the second quarter of 2023. Banner’s second quarter 2024 results also included a $2.4 million provision for credit losses, compared to a $520,000 provision for credit losses in the preceding quarter and a $6.8 million provision for credit losses in the second quarter of 2023. Net income was $77.4 million, or $2.24 per diluted share, for the six months ended June 30, 2024, compared to net income of $95.1 million, or $2.76 per diluted share, for the six months ended June 30, 2023. Banner’s results for the six months ended June 30, 2024 include a $2.9 million provision for credit losses, a $5.5 million net loss on the sale of securities and a $1.2 million net decrease in the fair value adjustments on financial instruments carried at fair value, compared to a $6.2 million provision for credit losses, an $11.8 million net loss on the sale of securities and a $3.7 million net decrease in the fair value adjustments on financial instruments carried at fair value during the same period in 2023.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today announced that Kroll Bond Rating Agency, LLC (KBRA) affirmed the senior unsecured debt rating of BBB+, the subordinated debt rating of BBB, and the short-term debt rating of K2 for Banner Corporation. In addition, KBRA affirmed the deposit and senior unsecured debt ratings of A-, the subordinated debt rating of BBB+, and the short-term deposit and debt ratings of K2 for the company's principal subsidiary, Banner Bank. The agency also noted they determined the outlook for all of Banner’s long-term ratings is Stable.

Today, Banner Bank released its 2023 ESG Report. The report identifies ongoing practices and recent accomplishments in the areas of environmental risk and impact management, social responsibility (including diversity, equity and inclusion), and governance. Report highlights include:

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today announced that it will report its second quarter results after the market closes on Wednesday, July 17, 2024. Management will host a conference call on Thursday, July 18, 2024, at 8:00 a.m. PT (11:00 a.m. ET) to discuss the results. The call will also be broadcast live via the internet.

The Banner Bank executive leadership team today announced Jim Garcia, Executive Vice President and Chief Audit Executive, will retire July 15, 2024. Scott Newman has been hired as the next Chief Audit Executive and to ensure a smooth transition his first day is today.

Forbes has named Banner Bank one of the 100 Best Banks in America for the eighth consecutive year.

The Banner Bank executive leadership team is pleased to announce Executive Vice President Jim Costa has been promoted to Chief Operating Officer in addition to his role as Chief Risk Officer.

Banner Corporation (NASDAQ: BANR), (“Banner” or the “Company”), the parent company of Banner Bank, today announced that shareholders approved all proposals and re-elected all director nominees at its 2024 Annual Meeting of Shareholders held virtually on May 22, 2024.

Banner Corporation (NASDAQ:BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $37.6 million, or $1.09 per diluted share, for the first quarter of 2024, compared to $42.6 million, or $1.24 per diluted share, for the preceding quarter and $55.6 million, or $1.61 per diluted share, for the first quarter of 2023. Net interest income was $133.0 million in the first quarter of 2024, compared to $138.4 million in the preceding quarter and $153.3 million in the first quarter a year ago. The decrease in net interest income compared to the preceding quarter and prior year quarter reflects an increase in funding costs, partially offset by an increase in yields on earning assets. Banner’s first quarter 2024 results included a $4.9 million net loss on the sale of securities, compared to a $4.8 million net loss on the sale of securities in the preceding quarter and a $7.3 million net loss on the sale of securities in the first quarter of 2023. Banner’s first quarter 2024 results also included a $520,000 provision for credit losses, compared to a $2.5 million provision for credit losses in the preceding quarter and a $524,000 recapture of provision for credit losses in the first quarter of 2023. In addition, the preceding quarter included a $3.5 million fair value gain recorded on multifamily loans as a result of their transfer from held for sale to held for investment, with no similar transaction recorded in the current quarter.

Newsweek has selected Banner Bank as one of America’s Most Trustworthy Companies 2024, ranking Banner 3rd among the 27 banks and credit unions that made the cut. This prestigious list is compiled by Newsweek, in collaboration with market research partner Statista Inc., the world-leading statistics portal and industry ranking provider.

Banner Corporation (NASDAQ:BANR) (“Banner”), the parent company of Banner Bank, today announced that it will report its first quarter results after the market closes on Wednesday, April 17, 2024. Management will host a conference call on Thursday, April 18, 2024, at 8:00 a.m. PT (11:00 a.m. ET) to discuss the results. The call will also be broadcast live via the internet.

Banner Bank has been selected by Newsweek as one of the World’s Most Trustworthy Companies of 2023. This prestigious list is compiled by Newsweek, in collaboration with market research partner Statista Inc., the world-leading statistics portal and industry ranking provider.

The Banner Bank board of directors announced today that Karen Harrison has been promoted to Executive Vice President, Community Banking Executive. Previously, she held the position of Senior Vice President, Community Banking Director.

Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $42.6 million, or $1.24 per diluted share, for the fourth quarter of 2023, a 7% decrease compared to $45.9 million, or $1.33 per diluted share, for the preceding quarter and a 22% decrease compared to $54.4 million, or $1.58 per diluted share, for the fourth quarter of 2022. Net interest income was $138.4 million in the fourth quarter of 2023, compared to $141.8 million in the preceding quarter and $159.1 million in the fourth quarter a year ago. The decrease in net interest income compared to the preceding quarter and prior year quarter reflects an increase in funding costs, partially offset by an increase in yields on earning assets. Banner’s fourth quarter 2023 results include a $4.8 million net loss on the sale of securities, compared to a $2.7 million net loss on the sale of securities in the preceding quarter and a $3.7 million net loss on the sale of securities in the fourth quarter of 2022. Banner’s fourth quarter 2023 results also include a $2.5 million provision for credit losses, compared to a $2.0 million provision for credit losses in the preceding quarter and a $6.7 million provision for credit losses in the fourth quarter of 2022. Net income was $183.6 million, or $5.33 per diluted share, for the year ended December 31, 2023, compared to net income of $195.4 million, or $5.67 per diluted share, for the year ended December 31, 2022. Banner’s results for the year ended 2023 include a $10.8 million provision for credit losses, a $19.2 million net loss on the sale of securities and a $4.2 million net decrease in the fair value adjustments on financial instruments carried at fair value, compared to a $10.4 million provision for credit losses, a $3.2 million net loss on the sale of securities and an $807,000 net increase in the fair value adjustments on financial instruments carried at fair value during the same period in 2022.

Forbes recently named Banner Bank one of the World’s Best Banks for the fourth consecutive year.