Q - BANNER

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

About this filing

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.

Jun 30, 2025 · Filed Aug 5, 2025

BANR$69.63-1.0%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

For the Six Months Ended June 30, 2025 and 2024

	Six Months Ended June 30,
	2025	2024
OPERATING ACTIVITIES:
Net income	$90,631	$77,354
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation	8,474	9,084
Deferred income and expense, net of amortization	(4,817)	(3,506)
Capitalized loan servicing rights, net of amortization	225	748
Amortization of core deposit intangibles	911	1,447
Loss on sale of securities, net	3	5,465
Net change in valuation of financial instruments carried at fair value	(403)	1,182
Decrease in deferred taxes	1,941	2,481
(Decrease) increase in current taxes payable/receivable, net	(4,348)	2,012
Stock-based compensation	4,913	4,652
Net change in cash surrender value of BOLI	(4,652)	(3,707)
Gain on sale of loans, excluding capitalized servicing rights	(3,051)	(2,486)
Loss (gain) on disposal of real estate held for sale and property and equipment, net	948	(368)
Provision for credit losses	7,934	2,889
Origination of loans held for sale	(171,026)	(107,228)
Proceeds from sales of loans held for sale	215,707	163,156
Net change in:
Other assets	16,642	(23,179)
Other liabilities	(47,943)	158
Net cash provided from operating activities	112,089	130,154
INVESTING ACTIVITIES:
Purchases of securities—available-for-sale	(18,896)	(19,312)
Principal repayments and maturities of securities—available-for-sale	105,638	95,830
Proceeds from sales of securities—available-for-sale	—	70,777
Principal repayments and maturities of securities—held-to-maturity	20,326	36,078
Loan originations, net of repayments	(394,673)	(393,967)
Purchases of loans and participating interest in loans	(10,780)	(4,666)
Proceeds from sales of other loans	20,189	11,808
Purchases of property and equipment	(4,398)	(6,627)
Proceeds from sale of real estate held for sale and sale of other property	1,875	4,025
Proceeds from FHLB stock repurchase program	112,775	83,657
Purchase of FHLB stock	(125,475)	(86,940)
Investment in BOLI	(39)	(34)
Other	873	52
Net cash used by investing activities	(292,585)	(209,319)

Continued on next page

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

For the Six Months Ended June 30, 2025 and 2024

	Six Months Ended June 30,
	2025	2024
FINANCING ACTIVITIES:
Increase in deposits, net	$12,893	$49,766
Overnight and short term FHLB advances, net	275,000	75,000
Decrease in other borrowings, net	(8,146)	(16,921)
Repayment of subordinated notes	(80,500)	—
Cash dividends paid	(33,843)	(33,620)
Taxes paid related to net share settlement of equity awards	(3,418)	(2,066)
Net cash provided from financing activities	161,986	72,159
NET CHANGE IN CASH AND CASH EQUIVALENTS	(18,510)	(7,006)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	501,858	254,464
CASH AND CASH EQUIVALENTS, END OF PERIOD	$483,348	$247,458

	Six Months Ended June 30,
	2025	2024
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid in cash	$111,040	$107,158
Tax paid	16,592	8,781
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Transfer of loans to real estate owned and other repossessed assets	4,671	2,386
Dividends accrued but not paid until after period end	1,131	914
Loans, held-for-sale, transferred from portfolio	(47,260)	(55,693)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.