Fourth Quarter 2023 Photo by Photo by Photo by Photo by Siti Alimah Yvonne McDonald Maria DeVecchio Salvador Saldana Disclosure Statement This presentation includes forward-looking statements. These statements include descriptions of management’s plans, objectives or goals for future operations, products or services, forecast of financial or other performance measures and statements about Banner’s general outlook for economic and other conditions. Additional forward-looking statements may be made in the que ...

WALLA WALLA, Wash.--(BUSINESS WIRE)--Banner Corporation (NASDAQ: BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $42.6 million, or $1.24 per diluted share, for the fourth quarter of 2023, a 7% decrease compared to $45.9 million, or $1.33 per diluted share, for the preceding quarter and a 22% decrease compared to $54.4 million, or $1.58 per diluted share, for the fourth quarter of 2022. Net interest income was $138.4 million in the fourth quarter of 2023, compared to $141.8 ...

The upcoming report from Banner (BANR) is expected to reveal quarterly earnings of $1.31 per share, indicating a decline of 22% compared to the year-ago period. Analysts forecast revenues of $155.54 million, representing a decrease of 9.6% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior to a company's earnings announcement, it is cruc ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ to ______________ Commission File Number 000-26584 BANNER CORPORATION (Exact name of registrant as specified in its charter) Washington 91- ...

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Banner Corporation (NASDAQ:BANR) Q3 2023 Earnings Conference Call October 19, 2023 11:00 AM ET Company Participants Mark Grescovich - President and Chief Executive Officer Rob Butterfield - Chief Financial Officer Jill Rice - Chief Credit Officer Rich Arnold - Head of Investor Relations Conference Call Participants David Feaster - Raymond James Andrew Liesch - Piper Sandler Kelly Motta - KBW Andrew Terrell - Stephens Tim Coffey - Janney Montgomery Scott Jeff Rulis - D.A. Davidson Operator Hello, and welcome ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ to ______________ Commission File Number 000-26584 BANNER CORPORATION (Exact name of registrant as specified in its charter) Washington 91-16916 ...

Financial Data and Key Metrics Changes - Banner Corporation reported a net profit available to common shareholders of $39.6 million or $1.15 per diluted share for Q2 2023, down from $1.39 per share in Q2 2022 and $1.61 per share in Q1 2023, primarily impacted by the provision for credit losses and increased funding costs [6][24] - Core earnings for Q2 2023 were $63.4 million, up from $57.8 million in Q2 2022, reflecting a strong core deposit base and effective expense control [7] - Revenue from core operations increased 7% to $158.6 million compared to $148.3 million in Q2 2022 [7] Business Line Data and Key Metrics Changes - Total loans increased by $324 million during the quarter, with significant growth in 1-to-4 family real estate loans, commercial business loans, and commercial real estate loans [24] - The loan portfolio showed an increase of 11% year-over-year, with core deposits representing 90% of total deposits [8] - The consumer mortgage portfolio grew by 7% in the quarter, continuing the trend of retaining completed all-in-one custom construction loans on the balance sheet [20] Market Data and Key Metrics Changes - Delinquent loans as of June 30 were 0.28% of total loans, down from 0.37% as of March 31, and compared to 0.19% as of June 30, 2022 [12] - Adversely classified loans represented 1.38% of total loans, down from 1.46% in the previous quarter [12] - Agricultural loan balances increased by 14% compared to the linked quarter, reflecting higher operating line usage [20] Company Strategy and Development Direction - The company continues to execute its super community bank strategy, focusing on growing client relationships and maintaining a strong core funding position [8] - Banner Corporation is capitalizing on market disruptions to enhance client acquisition and expand its workforce, particularly in small business banking [58] - The company aims to maintain a moderate risk profile while navigating economic uncertainties [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to weather economic challenges, citing strong credit metrics and a solid reserve for loan losses [21] - The economic environment remains uncertain, with expectations of muted loan growth due to increased rates and overall economic pessimism [41] - Management noted that the company is well-positioned to navigate potential recession impacts, leveraging its strong capital ratios and client relationships [21] Other Important Information - Banner Corporation was recognized as one of America's 100 Best Banks and received accolades for its trustworthiness and financial performance [10] - The company continues to invest in technology to streamline deposit opening and loan origination processes, enhancing the digital client experience [31] Q&A Session Summary Question: Update on deposit costs and betas - Management indicated that deposit betas are modeled similarly to the last rate cycle, with expectations that they may creep beyond 25% [34][36] Question: Loan growth and demand outlook - Management acknowledged a slowdown in pipeline refilling, with expectations of low-single-digit growth going forward due to economic conditions [41] Question: Market opportunities and competition - Management noted that competition is primarily from community banks and credit unions, with a focus on small business banking as a growth area [52] Question: Credit quality monitoring - Management is closely monitoring debt service coverage ratios and overall credit quality, particularly in the commercial real estate sector [75][79] Question: Future of non-interest expenses - Management expects non-interest expenses to remain similar to the first two quarters of the year, around mid-90 million [74] Question: Buyback appetite - Management is contemplating a buyback for the second half of the year, pending new authorization [70]

Financial Performance Highlights - Loan growth reached $312 million, representing an annualized growth rate of 12%[4] - Total loan originations (excluding HFS) amounted to $909 million[4] - Total deposits experienced a slight decline of $55 million, a decrease of 0.4%[4] - Core deposits decreased by $462 million, representing a 3.8% decline, but still constitute 90% of total deposits[4] - Net interest margin (tax equivalent) decreased by 30 basis points to 4.00%[4] - The efficiency ratio (adjusted, non-GAAP) increased by 435 basis points to 58.6%[4] Risk and Credit Quality - Provision for credit losses was $6.8 million, driven by loan growth and a deteriorating economic forecast, including $2.0 million provision for credit losses related to AFS securities[4] - Allowance for credit losses on loans was 1.38% of total loans[4] - Non-performing assets remained low at 0.18% of total assets, a slight increase from 0.17% in the previous quarter[4] Revenue and Growth Strategy - The company focuses on growing revenue by offering a super community bank value proposition, guarding and improving reputation, and growing market share[8] - The company operates in a geography with strong population growth, with Washington, Oregon, and Idaho experiencing growth rates of 9%, 5%, and 20% respectively[9] - Noninterest income includes $159 million from deposit fees, $666 million from mortgage banking, $16.1 million from deposit fees, and $64.9 million from other fees[19]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ to ______________ Commission File Number 000-26584 BANNER CORPORATION (Exact name of registrant as specified in its charter) Washington 91-1691 ...