Financial Performance - Revenues for the year ended December 31, 2024, were $608.6 million, a decrease of 1.3% from $620.4 million in the prior year[253]. - Net income for the year ended December 31, 2024, was $168.9 million, or $4.88 per diluted share, down from $183.6 million, or $5.33 per diluted share in the prior year[253]. - Adjusted revenue for 2024 was $614.776 million, a decrease of 4.5% from $643.874 million in 2023[261]. - Net income for 2024 was $168.898 million, down 8.0% from $183.624 million in 2023[261]. - The company's net income for the year was $168.9 million, with cash dividends paid or accrued amounting to $67.0 million[276]. Interest Income and Expenses - Net interest income decreased to $541.7 million for the year ended December 31, 2024, compared to $576.0 million in the prior year, reflecting a net interest margin of 3.75% versus 4.01%[253]. - Interest expense rose to $224.4 million for the year ended December 31, 2024, an increase of $98.8 million, or 79%, driven by a 72 basis-point increase in the average cost of funding liabilities[324]. - The average yield on interest-earning assets increased by 39 basis points to 5.26%, with interest income for the year ended December 31, 2024, reaching $766.1 million, up from $701.6 million in the prior year[321]. - The net interest margin on a tax-equivalent basis was 3.75% for the year ended December 31, 2024, a decrease of 26 basis points from the prior year[320]. - The net change in net interest income (tax equivalent) for 2024 was a decrease of $33.253 million compared to 2023[333]. Loan and Deposit Growth - Total deposits rose to $13.51 billion at December 31, 2024, up from $13.03 billion a year ago, with core deposits representing 89% of total deposits[253]. - Total loans receivable increased by $544.2 million, or 5%, to $11.35 billion at December 31, 2024, compared to $10.81 billion at December 31, 2023[272]. - Total deposits increased by $484.9 million, or 4%, reaching $13.51 billion at December 31, 2024, compared to $13.03 billion at December 31, 2023[301]. - Total loans increased to $11.123 billion in 2024, up from $10.483 billion in 2023, reflecting a growth of approximately 6.1%[329]. - Total loans increased to $11.355 billion in 2024 from $10.810 billion in 2023, indicating a growth of approximately 5%[335]. Asset Quality - Non-performing assets increased to $39.6 million, or 0.24% of total assets, at December 31, 2024, compared to $30.1 million, or 0.19% of total assets a year ago[253]. - The provision for credit losses was $7.6 million for the year ended December 31, 2024, down from $10.8 million in 2023, reflecting risk rating downgrades and growth in loan balances[316]. - Total non-performing loans increased to $36.96 million for the year ended December 31, 2024, compared to $29.60 million in 2023[311]. - The allowance for credit losses on loans was $155.5 million, or 1.37% of total loans receivable, at December 31, 2024, compared to 1.38% a year ago[253]. - The provision for credit losses decreased to $8.6 million in 2024 from $11.1 million in 2023, indicating improved credit quality[333]. Equity and Capital Ratios - Common shareholders' equity per share increased to $51.49 at December 31, 2024, from $48.12 a year ago[253]. - Total shareholders' equity increased by $121.6 million to $1.77 billion at December 31, 2024, compared to $1.65 billion at December 31, 2023[276]. - Tangible common shareholders' equity rose to $1.40 billion, or 8.84% of tangible assets, at December 31, 2024, up from $1.27 billion, or 8.33%, at December 31, 2023[276]. - Banner Corporation's tier 1 common equity to risk-weighted assets ratio is 12.44%[381]. - Both Banner Corporation and Banner Bank exceeded all current regulatory capital requirements to be classified as "well capitalized" as of December 31, 2024[379]. Non-Interest Income and Expenses - Total non-interest income increased to $66.9 million for the year ended December 31, 2024, compared to $44.4 million in 2023, mainly due to a decrease in the net loss on the sale of securities[317]. - Non-interest income for 2024 was $66.888 million, a significant increase of 51% compared to $44.409 million in 2023[339]. - Non-interest expense for the year ended December 31, 2024, increased by $9 million, or 2%, compared to 2023, totaling $391.538 million[346]. - Salary and employee benefits rose by $5.992 million, or 2%, to $250.555 million in 2024, driven by annual salary increases and higher loan production commissions[346][347]. - Miscellaneous income surged by 60% to $8.289 million in 2024, primarily due to gains from the sale of SBA loans and a non-performing loan[342]. Interest Rate Risk Management - The company actively manages interest rate risk through adjustments in the mix of interest-earning assets and funding sources[356]. - The Bank actively uses interest rate swaps to manage interest rate risk and reduce volatility in net interest income[366]. - A positive interest rate sensitivity gap indicates that during rising rates, net interest income is likely to increase, while a negative gap would adversely affect it[361]. - The company anticipates a decrease in net interest income of $8.730 million, or 1.5%, over the next 12 months if interest rates drop by 100 basis points[360]. - As of December 31, 2024, total interest-earning assets maturing or repricing within one year exceeded total interest-bearing liabilities by $2.17 billion, representing a one-year cumulative gap to total assets ratio of 13.37%[363].

Core Viewpoint - Banner (BANR) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Performance - The Zacks rating system is based on changes in earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Rising earnings estimates for Banner suggest an improvement in the company's underlying business, likely leading to increased stock prices [5][8]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The system maintains a balanced distribution of 'buy' and 'sell' ratings, ensuring that only the top 5% of stocks receive a 'Strong Buy' rating [9][10]. Recent Performance of Banner - Analysts have raised their earnings estimates for Banner, with the Zacks Consensus Estimate for the fiscal year ending December 2025 projected at $5.17 per share, reflecting a year-over-year increase of 3.2% [8]. - Over the past three months, the consensus estimate for Banner has increased by 6.7% [8].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Overview: Banner (BANR) - Banner currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - The company has a Zacks Rank of 2 (Buy), suggesting it is positioned for potential outperformance in the market [3] Price Performance - Over the past week, BANR shares increased by 7.86%, outperforming the Zacks Financial - Savings and Loan industry, which rose by 3.05% [5] - In a longer timeframe, BANR's monthly price change is 3.96%, significantly better than the industry's 0.11% [5] - Over the last quarter, BANR shares rose by 7.1%, and over the past year, they increased by 44.12%, while the S&P 500 only moved 5.33% and 26.85%, respectively [6] Trading Volume - The average 20-day trading volume for BANR is 203,861 shares, which serves as a bullish indicator when combined with rising stock prices [7] Earnings Outlook - In the past two months, three earnings estimates for BANR have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $4.87 to $5.06 [9] - For the next fiscal year, one estimate has moved upwards, with no downward revisions noted [9] Conclusion - Considering the positive momentum indicators and earnings outlook, BANR is classified as a 2 (Buy) stock with a Momentum Score of A, making it a strong candidate for near-term investment [11]

Financial Data and Key Metrics Changes - The fourth quarter and full year 2024 earnings call for Banner Corporation was held on January 23, 2025, indicating a focus on financial performance and outlook for the year [1] - Management highlighted that forward-looking statements regarding financial performance measures will be discussed, emphasizing the importance of understanding potential risks and uncertainties [2][3] Business Line Data and Key Metrics Changes - Specific details regarding changes in various business lines were not provided in the available content, indicating a need for further information from the earnings press release or subsequent discussions Market Data and Key Metrics Changes - The earnings call did not include specific market data or key metrics changes, suggesting that this information may be covered in other sections of the earnings report Company Strategy and Development Direction - Management's discussion included forward-looking statements about the company's plans and objectives for future operations, although specific strategies were not detailed in the provided content [2] Management Comments on Operating Environment and Future Outlook - The management acknowledged the presence of risks and uncertainties that could affect actual results, indicating a cautious approach to future performance expectations [3] Other Important Information - The call was structured to include a question-and-answer session, where additional insights and clarifications may be provided, but specific details were not included in the current content Q&A Session Summary Question: What are the key risks affecting future performance? - Management indicated that various risk factors could lead to actual results differing from expectations, although specific risks were not detailed in the provided content [3]

Core Viewpoint - Banner Corporation held its Fourth Quarter and Full Year 2024 earnings call, discussing the company's performance and outlook for the future [2]. Group 1: Company Overview - The call was hosted by Mark Grescovich, President and CEO of Banner Corporation, along with key executives including the Chief Financial Officer, Chief Credit Officer, and Head of Investor Relations [2]. - The company provided a forward-looking safe harbor statement, indicating that the presentation would include management's plans, objectives, and forecasts for financial performance [2][3]. Group 2: Financial Performance - The earnings call aimed to discuss the financial results for the fourth quarter and the full year of 2024, although specific financial metrics were not detailed in the provided text [2].

Fourth Quarter 2024 Photo by Salvador Saldana Photo by Yvonne McDonald Photo by Maria DeVecchio Photo by Siti Alimah 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 ...

For the quarter ended December 2024, Banner (BANR) reported revenue of $160.57 million, up 5.3% over the same period last year. EPS came in at $1.33, compared to $1.34 in the year-ago quarter.The reported revenue represents a surprise of +4.60% over the Zacks Consensus Estimate of $153.5 million. With the consensus EPS estimate being $1.22, the EPS surprise was +9.02%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expec ...

Banner (BANR) came out with quarterly earnings of $1.33 per share, beating the Zacks Consensus Estimate of $1.22 per share. This compares to earnings of $1.34 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.02%. A quarter ago, it was expected that this regional bank would post earnings of $1.18 per share when it actually produced earnings of $1.30, delivering a surprise of 10.17%.Over the last four quarters, the company has ...

Financial Performance - Banner Corporation reported net income of $46.4 million, or $1.34 per diluted share, for Q4 2024, an increase from $45.2 million, or $1.30 per diluted share, in the previous quarter and $42.6 million, or $1.24 per diluted share, in Q4 2023[2]. - Net interest income for Q4 2024 was $140.5 million, up from $135.7 million in the preceding quarter and $138.4 million in the same quarter last year[2]. - Non-interest income increased to $20.0 million in Q4 2024, compared to $18.1 million in the preceding quarter and $14.1 million in the same quarter last year[13]. - Total revenue for Q4 2024 was $160,571 thousand, up from $152,461 thousand in Q4 2023, representing a year-over-year increase of 5.5%[43]. - Net income for Q4 2024 was $46,391,000, up from $42,624,000 in Q4 2023, marking a 8.5% increase[29]. - Basic earnings per share for Q4 2024 were $1.34, compared to $1.24 in Q4 2023, reflecting an increase of 8.1%[29]. Asset and Deposit Management - Total assets increased to $16.20 billion at December 31, 2024, compared to $16.19 billion at September 30, 2024, and $15.67 billion at December 31, 2023[16]. - Total deposits were $13.51 billion at December 31, 2024, compared to $13.54 billion at September 30, 2024, and $13.03 billion at December 31, 2023[12]. - Core deposits represented 89% of total deposits at December 31, 2024[12]. - Total deposits remained stable at $13,514,398,000, a 4% increase compared to $13,029,497,000 in Q4 2023[30]. - Total common shareholders' equity was $1.77 billion, or 10.95% of total assets, at December 31, 2024, compared to $1.79 billion, or 11.08%, at September 30, 2024[21]. Loan Performance - Total loans receivable increased to $11.35 billion at December 31, 2024, up from $11.22 billion at September 30, 2024, and $10.81 billion at December 31, 2023[17]. - Commercial real estate loans rose 2% to $3.86 billion at December 31, 2024, compared to $3.79 billion at September 30, 2024, and increased 6% from $3.64 billion at December 31, 2023[17]. - Non-performing loans were $37.0 million at December 31, 2024, down from $43.0 million at September 30, 2024, and $29.6 million a year ago[23]. - Total delinquent loans increased to $55,432, with a delinquency rate of 0.49% compared to 0.40% in the prior quarter[32]. - Loans charged off amounted to $4,033, leading to net charge-offs of $2,283 for the quarter[35]. Credit Loss Provisions - The provision for credit losses was $3.0 million in Q4 2024, up from $1.7 million in the previous quarter and $2.5 million in Q4 2023[11]. - The allowance for credit losses on loans was $155.5 million, or 1.37% of total loans receivable, as of December 31, 2024[12]. - The total allowance for credit losses on unfunded loan commitments was $13,562, down from $14,484 at the end of the previous year[36]. - The provision for credit losses was $3,219 for the quarter, compared to $1,967 in the prior quarter[35]. Efficiency and Ratios - The efficiency ratio improved to 61.95% in Q4 2024, compared to 62.63% in the previous quarter and 63.37% in Q4 2023[15]. - The estimated common equity Tier 1 capital ratio was 12.44% at December 31, 2024, indicating strong capital levels above regulatory requirements[22]. - Total capital to risk-weighted assets for Banner Corporation was reported at 15.04%, exceeding the minimum requirement for "Well Capitalized" status[39]. - Return on average assets improved to 1.15% for the quarter, up from 1.09% in the same quarter last year[40]. - Return on average equity was 10.35%, slightly down from 10.98% year-over-year[40]. Year-over-Year Comparisons - Total assets as of December 31, 2024, were $16,200,037,000, representing a 3% increase from $15,670,391,000 a year earlier[30]. - Total deposits rose to $13,259,451 in 2024, up from $13,151,459 in 2023, marking a growth of 0.8%[41]. - The adjusted return on average equity for the year ended December 31, 2024, was 10.19%, down from 13.17% in 2023[42]. - Total non-performing assets decreased to $39,623,000 as of December 31, 2024, down from $45,228,000 in the previous quarter, representing a reduction of 12%[37].

In its upcoming report, Banner (BANR) is predicted by Wall Street analysts to post quarterly earnings of $1.22 per share, reflecting a decline of 9% compared to the same period last year. Revenues are forecasted to be $153.5 million, representing a year-over-year increase of 0.7%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this per ...