Banner Corp. - BANR STOCK NEWS

Banner Corporation (NASDAQ: BANR) reported a net income of $48.0 million for Q2 2022, a 9% increase from Q1, but down 12% from $54.4 million in Q2 2021. The results include a $4.5 million provision for credit losses and a $7.8 million gain from a branch sale. Banner declared a quarterly cash dividend of $0.44 per share, payable on August 12, 2022. Total assets decreased to $16.39 billion, while net loans rose to $9.33 billion. Revenue increased 13% to $156.2 million compared to the previous quarter.

Banner Corporation (NASDAQ GSM: BANR) announced it will report its second quarter results after market close on July 20, 2022. A conference call to discuss these results will take place on July 21, 2022, at 8:00 a.m. PDT. Investors can access the call live via Banner Bank's website or by dialing in. The company operates a commercial bank across four Western states, providing a range of banking services. It has a total asset base of $16.78 billion.

On May 18, 2022, Banner Corporation (NASDAQ: BANR) held its Annual Meeting of Shareholders, where all proposals were approved and all director nominees were re-elected. The company, with assets amounting to $16.78 billion, operates one commercial bank across four Western states, offering a comprehensive range of banking services. This virtual meeting signifies continued confidence in the company’s leadership and strategic direction.

Banner Corporation (BANR) reported Q1 2022 net income of $44.0 million ($1.27 per diluted share), a 12% decline from the previous quarter. Notable figures include $138.1 million in revenue and a 5% decrease in net interest income to $118.7 million. The Board declared a $0.44 quarterly cash dividend, payable May 13, 2022. Core deposits increased 9% year-over-year, demonstrating resilience amid operational changes. However, mortgage banking revenues fell by 61% compared to last year.

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.