Banner Corp. ( (BANR) ) has released its Q4 earnings. Here is a breakdown of the information Banner Corp. presented to its investors.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Banner Corporation, a $16.20 billion bank holding company, operates a commercial bank offering a wide range of banking services in four Western states, including deposit services and various loan types.
In its latest earnings report, Banner Corporation announced a net income of $46.4 million, or $1.34 per diluted share, for the fourth quarter of 2024. This represents a slight increase from the previous quarter and the same quarter last year, while also declaring a quarterly cash dividend of $0.48 per share.
Key performance indicators included a rise in net interest income to $140.5 million, driven by reduced funding costs and increased interest-earning assets. However, this was partially offset by lower yields on these assets due to declining interest rates. The company’s total assets grew marginally to $16.20 billion, with net loans receivable increasing by 5% year-over-year to $11.20 billion. Meanwhile, non-performing assets decreased to 0.24% of total assets.
The corporation’s financial health remains robust, with a strong capital base and core deposits making up 89% of total deposits. Although net income for the full year 2024 decreased compared to 2023, the company highlights a strategic focus on expanding client relationships and maintaining a competitive funding position.
Looking ahead, Banner Corporation continues to pursue its ‘super community bank’ strategy, emphasizing sustainable growth and resilience through economic cycles. The management aims to leverage its core strengths to navigate a competitive banking environment and a fluctuating interest rate landscape.
