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Mar 31, 2021
Banner Q1 2021 Earnings Report
Net income increased significantly driven by recapture of provision for credit losses.
Key Takeaways
Banner Corporation reported a strong first quarter with net income of $46.9 million, or $1.33 per diluted share, representing a substantial increase compared to both the previous quarter and the same period last year. The results were positively influenced by an $8.0 million recapture of provision for credit losses and strong mortgage banking fee revenue.
Net income was $46.9 million, or $1.33 per diluted share.
Revenues decreased to $141.9 million.
Net loans receivable increased to $9.79 billion.
Core deposits increased 8% to $12.64 billion.
Revenue by Geographic Location
Forward Guidance
This press release contains forward-looking statements subject to numerous uncertainties that could cause actual results to differ materially from those anticipated in the statements and could negatively affect Banner’s operating and stock price performance.
Challenges Ahead
- The COVID-19, pandemic is adversely affecting us, our clients, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain.
- Deterioration in general business and economic conditions, including increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and increase stock price volatility.
- In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways.
- Other factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to, the following: (1) the credit risks of lending activities, including changes in the level and direction of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses, which could necessitate additional provisions for credit losses, resulting both from loans originated and loans acquired from other financial institutions
Historical Earnings Impact
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Avg. Return Before/After Earnings
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