BANNER CORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
BANR$70.36+0.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| INTEREST INCOME: | ||
| Loans receivable | $156,475 | $133,257 |
| Mortgage-backed securities | 16,934 | 18,978 |
| Securities and cash equivalents | 11,279 | 14,726 |
| Total interest income | 184,688 | 166,961 |
| INTEREST EXPENSE: | ||
| Deposits | 44,613 | 9,244 |
| FHLB advances | 2,972 | 1,264 |
| Other borrowings | 1,175 | 381 |
| Subordinated debt | 2,969 | 2,760 |
| Total interest expense | 51,729 | 13,649 |
| Net interest income | 132,959 | 153,312 |
| PROVISION (RECAPTURE) FOR CREDIT LOSSES | 520 | (524) |
| Net interest income after provision (recapture) for credit losses | 132,439 | 153,836 |
| NON-INTEREST INCOME: | ||
| Deposit fees and other service charges | 11,022 | 10,562 |
| Mortgage banking operations | 2,335 | 2,691 |
| BOLI | 2,237 | 2,188 |
| Miscellaneous | 1,892 | 1,640 |
| 17,486 | 17,081 | |
| Net loss on sale of securities | (4,903) | (7,252) |
| Net change in valuation of financial instruments carried at fair value | (992) | (552) |
| Total non-interest income | 11,591 | 9,277 |
| NON-INTEREST EXPENSE: | ||
| Salary and employee benefits | 62,369 | 61,389 |
| Less capitalized loan origination costs | (3,676) | (3,431) |
| Occupancy and equipment | 12,462 | 11,970 |
| Information and computer data services | 7,320 | 7,147 |
| Payment and card processing services | 5,710 | 4,618 |
| Professional and legal expenses | 1,530 | 2,121 |
| Advertising and marketing | 1,079 | 806 |
| Deposit insurance | 2,809 | 1,890 |
| State and municipal business and use taxes | 1,304 | 1,300 |
| Real estate operations, net | (220) | (277) |
| Amortization of core deposit intangibles | 723 | 1,050 |
| Miscellaneous | 6,231 | 6,038 |
| Total non-interest expense | 97,641 | 94,621 |
| Income before provision for income taxes | 46,389 | 68,492 |
| PROVISION FOR INCOME TAXES | 8,830 | 12,937 |
| NET INCOME | $37,559 | $55,555 |
| Earnings per common share: | ||
| Basic | $1.09 | $1.62 |
| Diluted | $1.09 | $1.61 |
| Cumulative dividends declared per common share | $0.48 | $0.48 |
| Weighted average number of common shares outstanding: | ||
| Basic | 34,391,564 | 34,239,533 |
| Diluted | 34,521,105 | 34,457,869 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.