Banner(US:BANR)2022-10-20 14:57Financial Highlights - Loan growth reached 3.9% (15.5% annualized)[5] - Total loan originations (excluding HFS) amounted to $989 million[5] - Core deposits experienced annualized growth of 1.7%, constituting 95% of total deposits[5] - Net interest margin (tax equivalent) increased by 41 basis points to 3.85%[5] - The efficiency ratio (adjusted, non-GAAP) decreased by 242 basis points to 57%[5] - A provision for credit losses of $6.1 million was made, driven by loan growth; Allowance for credit losses – loans was 1.38% of total loans[5] - Non-performing assets remained low at 0.10% of total assets[5] Revenue and Expenses - Core revenue for the quarter ending 09/30/22 was $161 million, with a last twelve months (LTM) amount of $591 million[25] - Noninterest income for the quarter ending 09/30/22 was $15.0 million, with an LTM amount of $75.1 million[28] - Core operating expenses for the quarter ending 09/30/22 were $92 million, with an LTM amount of $351 million[60] Balance Sheet and Asset Quality - As of 9/30/2022, interest-bearing deposits totaled $7.064 billion[35] - As of 9/30/2022, loans yielded 4.82%[49] - Non-performing assets (NPAs) were $16 million, representing 0.10% of total assets as of 09/30/22[73]