Banner Q2 2022 Earnings Report
Key Takeaways
Banner Corporation reported a net income of $48.0 million, or $1.39 per diluted share, for the second quarter of 2022. Revenues increased by 13% to $156.2 million compared to the preceding quarter. Net interest income increased to $129.0 million.
Revenues increased 13% to $156.2 million, compared to $138.1 million in the preceding quarter, and increased 4% when compared to $149.9 million in the second quarter a year ago.
Net interest income increased to $129.0 million in the second quarter of 2022, compared to $118.7 million in the preceding quarter and $127.6 million in the second quarter a year ago.
Net interest margin on a tax equivalent basis was 3.44%, compared to 3.18% in the preceding quarter and 3.52% in the second quarter a year ago.
Non-performing assets were $19.1 million, or 0.12% of total assets, at June 30, 2022, compared to $19.1 million, or 0.11% of total assets in the preceding quarter, and decreased from $31.5 million, or 0.19% of total assets, at June 30, 2021.
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Banner Revenue by Segment
Forward Guidance
Banner Forward is expected to enhance revenue growth and reduce operating expenses, with full implementation expected by next year.