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Mar 31, 2020
Banner Q1 2020 Earnings Report
Banner's earnings were impacted by the COVID-19 pandemic and included acquisition-related expenses and increased credit loss provisions.
Key Takeaways
Banner Corporation reported net income of $16.9 million, or $0.47 per diluted share, for the first quarter of 2020. The results reflect the impact of the COVID-19 pandemic and include acquisition-related expenses and a substantial increase in credit loss provisions.
Net income was $16.9 million, or $0.47 per diluted share.
Revenues were $138.4 million, a 3% increase compared to the first quarter a year ago.
Net interest income, before the provision for loan losses, was $119.3 million.
Mortgage banking revenues increased 63% to $10.2 million.
Banner
Banner
Forward Guidance
Company expects to see further margin compression during the second quarter.