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Sep 30, 2023
Banner Q3 2023 Earnings Report
Banner reported net income, revenues increased, net interest income decreased, mortgage banking operations revenue increased, and non-performing assets decreased.
Key Takeaways
Banner Corporation reported a net income of $45.9 million, or $1.33 per diluted share, for the third quarter of 2023. Revenues increased by 2% to $154.4 million compared to the preceding quarter, while net interest income decreased slightly to $141.8 million. The company's performance benefited from loan growth and higher yields on interest-earning assets, though funding costs impacted net interest margin.
Net income was $45.9 million, or $1.33 per diluted share, a 16% increase compared to the preceding quarter.
Revenues increased 2% to $154.4 million, compared to $150.9 million in the preceding quarter.
Net interest income decreased 1% to $141.8 million, compared to $142.5 million in the preceding quarter.
Total deposits increased to $13.17 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
The company did not provide specific forward guidance in the earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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