Banner(US:BANR)2025-04-17 16:58Financial Performance - Net income was $45.1 million, compared to $46.4 million for the prior quarter[6] - HFI Loan growth of $570 million year-over-year, representing a 5% increase[6] - Net interest margin (tax equivalent) increased by 10 basis points to 3.92%[6] - Return on average assets was 1.15%, and return on average equity was 10.17%, compared to 1.15% and 10.35% respectively, for the prior quarter[6] Balance Sheet and Loan Portfolio - Total assets of Banner Corporation are $16.2 billion, with deposits of $13.6 billion and loans of $11.5 billion[8] - Total loan originations (excluding HFS) were $536 million[6] - Allowance for credit losses – loans was 1.38% of total loans, with a $3.1 million provision for credit losses[6] - Non-performing assets remained low at 0.26% of total assets, up 2 basis points from last quarter[6] Revenue and Efficiency - Core revenue was $160 million for the quarter and $624 million for the last 12 months[23] - Noninterest income was $18.8 million for the quarter and $74.4 million for the last 12 months[23] - Efficiency ratio (GAAP) increased 126 basis points to 63.21%; adjusted, non-GAAP efficiency ratio increased 144 basis points to 62.18%[6] Strategic Focus - The company aims to build value for stakeholders by focusing on core banking competency, sustainable growth, and scalable acquisitions[7] - The company emphasizes growing revenue by taking advantage of its geography and value proposition[9]