Banner Corp. ( (BANR) ) has released its Q1 earnings. Here is a breakdown of the information Banner Corp. presented to its investors.
Banner Corporation, a bank holding company headquartered in Walla Walla, Washington, operates Banner Bank, providing a wide range of financial services across four Western states. For the first quarter of 2025, Banner Corporation reported a net income of $45.1 million, or $1.30 per diluted share, reflecting a slight decrease from the previous quarter but an increase from the same period last year. The company declared a quarterly cash dividend of $0.48 per share.
Key financial highlights include a net interest income of $141.1 million, a 6% increase from the previous year, driven by higher yields on interest-earning assets and lower funding costs. The net interest margin improved to 3.92%, up from 3.82% in the previous quarter. Banner’s total assets stood at $16.17 billion, with net loans receivable increasing to $11.28 billion, and deposits rising to $13.59 billion.
The company maintained strong credit metrics with an allowance for credit losses at $157.3 million, representing 1.38% of total loans receivable. Non-performing assets were reported at $42.7 million, or 0.26% of total assets. Despite an increase in non-interest expenses to $101.3 million, the efficiency ratio improved to 63.21% compared to the previous year.
Looking forward, Banner Corporation remains committed to its super community bank strategy, focusing on growing client relationships and maintaining a robust capital base. The company’s management is optimistic about future growth, supported by solid loan growth and a strong core deposit base.