BANNER CORP

For the period ended Sep 30, 2025. Filed Nov 4, 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.

Sep 30, 2025 · Filed Nov 4, 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 Nine Months Ended September 30, 2025 and 2024

	Nine Months Ended September 30,
	2025	2024
OPERATING ACTIVITIES:
Net income	$144,133	$122,507
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation	12,523	13,615
Deferred income and expense, net of amortization	(7,886)	(5,834)
Capitalized loan servicing rights, net of amortization	405	1,211
Amortization of core deposit intangibles	1,252	2,037
(Gain) loss on sale of securities, net	(374)	5,465
Net change in valuation of financial instruments carried at fair value	(626)	1,143
Decrease in deferred taxes	572	2,973
(Decrease) increase in current taxes payable/receivable, net	(387)	4,967
Stock-based compensation	7,623	7,234
Net change in cash surrender value of BOLI	(7,106)	(6,888)
Gain on sale of loans, excluding capitalized servicing rights	(4,746)	(4,212)
Gain on disposal of real estate held for sale and property and equipment, net	(403)	(319)
Provision for credit losses	10,604	4,581
Origination of loans held for sale	(264,970)	(197,741)
Proceeds from sales of loans held for sale	355,435	260,192
Net change in:
Other assets	(9,497)	(14,137)
Other liabilities	(4,036)	(2,887)
Net cash provided from operating activities	232,516	193,907
INVESTING ACTIVITIES:
Purchases of securities—available-for-sale	(101,671)	(53,170)
Principal repayments and maturities of securities—available-for-sale	248,630	168,360
Proceeds from sales of securities—available-for-sale	17,581	70,777
Principal repayments and maturities of securities—held-to-maturity	30,112	45,280
Loan originations, net of repayments	(438,908)	(547,162)
Purchases of loans and participating interest in loans	(10,780)	(4,666)
Proceeds from sales of other loans	26,053	16,622
Purchases of property and equipment	(6,159)	(9,953)
Proceeds from sale of real estate held for sale and sale of other property	6,539	4,323
Proceeds from FHLB stock repurchase program	151,970	129,062
Purchase of FHLB stock	(143,745)	(124,785)
Investment in BOLI	(46)	(41)
Other	2,229	732
Net cash used by investing activities	(218,195)	(304,621)

Continued on next page

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

For the Nine Months Ended September 30, 2025 and 2024

	Nine Months Ended September 30,
	2025	2024
FINANCING ACTIVITIES:
Increase in deposits, net	$501,537	$508,651
Repayment of overnight and short term FHLB advances, net	(190,000)	(93,000)
Decrease in other borrowings, net	(4,721)	(28,344)
Repayment of subordinated notes	(80,500)	—
Cash dividends paid	(50,399)	(50,169)
Cash paid to repurchase common stock	(15,784)	—
Taxes paid related to net share settlement of equity awards	(3,449)	(2,093)
Net cash provided from financing activities	156,684	335,045
NET CHANGE IN CASH AND CASH EQUIVALENTS	171,005	224,331
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	501,858	254,464
CASH AND CASH EQUIVALENTS, END OF PERIOD	$672,863	$478,795

	Nine Months Ended September 30,
	2025	2024
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid in cash	$164,392	$166,843
Tax paid	23,087	13,376
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Transfer of loans to real estate owned and other repossessed assets	5,415	2,386
Dividends accrued but not paid until after period end	1,332	1,125
Loans, held-for-sale, transferred from portfolio	(74,032)	(125,909)

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