Banner(US:BANR)2025-11-04 21:52Financial Performance - Net income for Q3 2025 was $53,502, a 18.5% increase from $45,153 in Q3 2024[18]. - Basic earnings per share for Q3 2025 was $1.55, compared to $1.31 in Q3 2024, reflecting an increase of 18.3%[16]. - Net income for the nine months ended September 30, 2025, was $144,133,000, an increase of 17.7% compared to $122,507,000 for the same period in 2024[23]. - The company reported a total of 34,335,297 shares issued and outstanding as of September 30, 2025, down from 34,459,832 shares at December 31, 2024[14]. - Comprehensive income for Q3 2025 was $77,169, down from $117,159 in Q3 2024[18]. Asset and Equity Growth - Total assets increased to $16,563,081 thousand as of September 30, 2025, compared to $16,200,037 thousand at December 31, 2024, reflecting a growth of 2.24%[14]. - Total shareholders' equity reached $1,912,892 thousand, compared to $1,774,326 thousand, marking an increase of 7.80%[14]. - Retained earnings increased to $837,826 thousand from $744,091 thousand, showing a growth of 12.59%[14]. - The total amount of unrealized losses for available-for-sale securities was $280,752,000, with 185 securities in a continuous unrealized loss position as of September 30, 2025[37]. Loan and Deposit Activity - Net loans receivable rose to $11,542,831 thousand, up from $11,199,135 thousand, indicating an increase of 3.06%[14]. - Total deposits grew to $14,015,935 thousand, a rise from $13,514,398 thousand, representing an increase of 3.70%[14]. - The total loans receivable reached $11.703 billion as of September 30, 2025, an increase from $11.355 billion as of December 31, 2024[42]. - The allowance for credit losses on loans was $159,707 thousand, slightly up from $155,521 thousand, indicating a 1.41% increase[14]. Income and Expense Analysis - Total interest income for Q3 2025 was $205,848, an increase of 5.1% from $195,841 in Q3 2024[16]. - Net interest income after provision for credit losses for Q3 2025 was $147,319, up 10% from $133,983 in Q3 2024[16]. - Total non-interest expense for Q3 2025 was $102,022, representing a 6.3% increase from $96,291 in Q3 2024[16]. - Non-interest income for Q3 2025 reached $20,730, a 14.8% increase compared to $18,063 in Q3 2024[16]. Credit Quality and Provisions - The provision for credit losses for Q3 2025 was $2,670, an increase from $1,692 in Q3 2024[16]. - The company reported a provision for credit losses of $10,604,000 for the nine months ended September 30, 2025, compared to $4,581,000 in 2024, indicating an increase in credit loss provisions[23]. - The allowance for credit losses at the end of September 30, 2025, was $159,707,000, reflecting a provision for credit losses of $1,384,000 for the three months ended[77]. - The company reported no current period gross charge-offs across all categories for the year 2025[56][57]. Market and Strategic Initiatives - The company is facing risks from economic conditions, including inflation and geopolitical developments, which may impact future performance[12]. - The company is focused on key growth initiatives and strategic priorities to enhance market position and operational efficiency[12]. - Future acquisitions or business combinations may impact the company's financial position and operational integration challenges[12]. - The company plans to continue expanding its market presence and product offerings, focusing on new technologies and strategic acquisitions to enhance growth[60]. Cash Flow and Investment Activities - Operating activities provided net cash of $232,516,000 for the nine months ended September 30, 2025, compared to $193,907,000 in 2024, reflecting a 19.9% increase[23]. - The net cash used by investing activities was $218,195,000 for the nine months ended September 30, 2025, a decrease from $304,621,000 in 2024[25]. - The company repurchased common stock amounting to $15,784,000 during the nine months ended September 30, 2025[26]. - The company accrued dividends on common stock at $0.48 per share, totaling $50,399,000 paid during the nine months ended September 30, 2025[26].