Banner Corporation Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 19, 2023 at 01:30 am IST
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Banner Corporation reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 141.77 million compared to USD 146.44 million a year ago. Net income was USD 45.85 million compared to USD 49.07 million a year ago. Basic earnings per share from continuing operations was USD 1.33 compared to USD 1.43 a year ago. Diluted earnings per share from continuing operations was USD 1.33 compared to USD 1.43 a year ago.
For the nine months, net interest income was USD 437.6 million compared to USD 394.11 million a year ago. Net income was USD 141 million compared to USD 141 million a year ago. Basic earnings per share from continuing operations was USD 4.11 compared to USD 4.11 a year ago. Diluted earnings per share from continuing operations was USD 4.09 compared to USD 4.09 a year ago.
Banner Corporation is a bank holding company for Banner Bank (the Bank). The Bank is a chartered commercial bank in the State of Washington. The Bank is a regional bank that offers a variety of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas. The Banks primary business is that of traditional banking institutions, accepting deposits and originating loans in locations surrounding its offices in Washington, Oregon, California and Idaho. The Bank is also a participant in secondary loan markets, engaging in mortgage banking operations, through the origination and sale of one- to four-family and multifamily residential loans. Its lending activities include commercial business and commercial real estate loans, agriculture business loans, construction and land development loans, one- to four-family and multifamily residential loans, United States small business administration (SBA) loans and consumer loans.