Banner Q1 2023 Earnings Report
Key Takeaways
Banner Corporation reported a net income of $55.6 million, or $1.61 per diluted share, for the first quarter of 2023. This represents a 2% increase compared to the preceding quarter and a 26% increase compared to the first quarter of 2022.
Revenues decreased 6% to $162.6 million compared to the preceding quarter, but increased 18% compared to the first quarter a year ago.
Net interest income decreased 4% to $153.3 million compared to the preceding quarter, but increased 29% compared to the first quarter a year ago.
Net interest margin was 4.30%, compared to 4.23% in the preceding quarter and 3.18% in the first quarter a year ago.
Non-performing assets increased to $27.1 million, or 0.17% of total assets.
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Banner Revenue by Geographic Location
Forward Guidance
No specific forward guidance was provided in the document.