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 reports developments for a regional bank holding company whose wholly owned Banner Bank accepts deposits, originates loans and provides banking services to individuals and businesses in Washington, Oregon, California and Idaho. Company updates commonly cover quarterly earnings, net interest income and margin, loan and deposit trends, credit-loss provisions, capital levels and regular cash dividends.
News also includes conference-call announcements, board and executive leadership changes, enterprise operations updates and recognition tied to Banner Bank's financial strength, profitability and growth. The company’s disclosures frame performance around relationship banking, funding costs, credit quality and a western branch network.
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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.
Banner Corporation (NASDAQ: BANR), a bank holding company based in Walla Walla, Washington, announced it will release its Q1 results on April 19, 2023. Following the report, management will host a conference call on April 20 at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss the financial outcomes. The call will be accessible to investors online and via phone. Banner Corporation operates a commercial bank with assets of $15.83 billion, providing a range of financial services across four Western states.