Banner Corp Stock Price, News & Analysis

Banner Corporation (NASDAQ GSM: BANR) will report its Q1 results on April 20, 2022, after market close. The management will conduct a conference call on April 21, 2022, at 8:00 a.m. PDT to discuss the results. Investors can access the live call at www.bannerbank.com or by dialing (844) 200-6205 with access code 982074. A replay will be available for one week. Banner operates as a $16.80 billion bank holding company with a broad range of financial services across four Western states.

Banner Corporation (NASDAQ GSM: BANR) announced the appointments of Margot James Copeland and Paul J. Walsh to its Board of Directors effective March 1, 2022. Copeland, with over 20 years of experience in corporate philanthropy and diversity, previously held key roles at KeyBank. Walsh brings over 25 years of technology leadership experience from companies like Sony and Visa. Both appointees are expected to contribute valuable insights for the company’s growth. Additionally, Brent A. Orrico will not seek reelection, and Merline Saintil will resign from the Boards following the 2022 Annual Meeting.

Banner Corporation (NASDAQ: BANR) reported a net income of $49.9 million for Q4 2021, unchanged from Q3 2021 and up from $39.0 million in Q4 2020. The annual net income rose 73% to a record $201.0 million. The Board increased the quarterly cash dividend by 7% to $0.44 per share, payable on February 14, 2022. Total assets reached $16.80 billion with core deposits up 16% year-over-year. However, revenues were down 6% to $146.0 million due to reduced SBA PPP loan interest income. Net interest margin declined to 3.17%. The company continues to implement cost-saving measures through its Banner Forward initiative.

The Banner Bank board has promoted Cynthia Purcell to Executive Vice President, Chief Strategy and Administration Officer. This decision acknowledges her contributions and expanded role over the past year. In her new position, she will guide the bank's strategic objectives alongside the CFO, focusing on financial results, sales growth, and mergers. Purcell, with 42 years of banking experience, previously led Retail Banking and has held significant positions at Banner. Her leadership aims to enhance client experience and operational efficiency, crucial for the bank's growth and performance.

Banner Corporation (NASDAQ: BANR) will report its fourth quarter results post-market on January 20, 2022. A conference call will occur on January 21, 2022, at 8:00 a.m. PST to discuss the results, available to investors via www.bannerbank.com.

Banner operates as a $16.64 billion bank holding company across four Western states, offering various banking services including loans and deposits.

Banner Corporation (NASDAQ: BANR) has authorized a stock repurchase program for up to 1,712,510 shares, approximately 5% of its common stock. This initiative aligns with the company's capital management strategy and aims to enhance long-term shareholder value. Repurchases will occur in open market purchases, contingent on market conditions. Banner Corporation operates a $16.64 billion bank holding company, providing a wide range of banking services across four Western states.

Banner Corporation (NASDAQ:BANR) announced the retirement of Judy Steiner, Executive Vice President and Chief Risk Officer, effective November 25, 2021. Jim Costa will succeed her in this role and has already joined the bank to ensure a smooth transition. Steiner, who joined in 2016, was instrumental in risk management during a period of significant growth for the company. Costa brings nearly 30 years of financial services experience, having previously served as Chief Risk and Chief Credit Officer at TCF Financial Corporation, enhancing Banner's leadership in risk management.