Welcome to our dedicated page for Banner news (Ticker: BANR), a resource for investors and traders seeking the latest updates and insights on Banner stock.
Banner Corporation (BANR) delivers community-focused banking services through Banner Bank, serving the Pacific Northwest with deposit accounts, commercial lending, and residential mortgage solutions for over 125 years. This news hub provides investors and stakeholders with essential updates about the company's financial operations and market activities.
Access official press releases covering quarterly earnings, leadership changes, regulatory filings, and strategic initiatives. Stay informed about Banner's community banking developments, loan portfolio performance, and participation in secondary mortgage markets through verified announcements.
Our curated collection features permanent records of material events including merger/acquisition details, dividend declarations, and operational expansions across Washington, Oregon, Idaho, California, and Utah. Bookmark this page for direct access to Banner Corp's financial disclosures without promotional commentary.
Banner Corporation (NASDAQ GSM: BANR) reported a net income of $55.6 million, or $1.61 per diluted share, for Q1 2023, reflecting a 2% increase from the previous quarter and a 26% increase year-over-year. The quarter included a recapture of provision for credit losses amounting to $524,000. The Board declared a quarterly cash dividend of $0.48 per share, payable on May 12, 2023. Core deposits stood at $12.20 billion, representing 93% of total deposits. However, revenues decreased by 6% to $162.6 million, influenced by lower net interest income and non-interest income due to losses on securities sales. Non-performing assets increased to $27.1 million, or 0.17% of total assets. The effective tax rate was 18.9%, aided by tax-exempt income.
Banner Corporation (NASDAQ: BANR) has announced the retirement of Peter J. Conner as Executive Vice President and Chief Financial Officer, effective October 10, 2023. Conner will also retire from Banner Bank CFO position on April 10, 2023. Robert G. Butterfield, current Senior VP and Chief Accounting Officer, will succeed Conner as CFO of Banner Bank on April 11, 2023, and will later assume the same role at the Company level. Conner has been with Banner since 2015, and both executives anticipate a seamless transition. Banner Corporation has seen significant growth, tripling its asset size since Conner's arrival.
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