BANNER CORP
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
BANR$69.63-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Financial Condition
March 31, 2024 and December 31, 2023
| ASSETS | March 31,2024 | December 31,2023 |
|---|---|---|
| Cash and due from banks | $168,427 | $209,634 |
| Interest bearing deposits | 40,849 | 44,830 |
| Total cash and cash equivalents | 209,276 | 254,464 |
| Securities—available-for-sale, amortized cost $2,617,986 and $2,729,980, respectively | 2,244,939 | 2,373,783 |
| Securities—held-to-maturity, net of allowance for credit losses of $322 and $332, respectively | 1,038,312 | 1,059,055 |
| Total securities | 3,283,251 | 3,432,838 |
| Federal Home Loan Bank (FHLB) stock | 11,741 | 24,028 |
| Loans held for sale (includes $7,208 and $9,105, at fair value, respectively) | 9,357 | 11,170 |
| Loans receivable | 10,869,096 | 10,810,455 |
| Allowance for credit losses – loans | (151,140) | (149,643) |
| Net loans receivable | 10,717,956 | 10,660,812 |
| Accrued interest receivable | 66,124 | 63,100 |
| Property and equipment, net | 129,889 | 132,231 |
| Goodwill | 373,121 | 373,121 |
| Other intangibles, net | 4,961 | 5,684 |
| Bank-owned life insurance (BOLI) | 306,600 | 304,366 |
| Deferred tax assets, net | 156,571 | 153,365 |
| Operating lease right-of-use assets | 40,834 | 43,731 |
| Other assets | 208,598 | 211,481 |
| Total assets | $15,518,279 | $15,670,391 |
| LIABILITIES | ||
| Deposits: | ||
| Non-interest-bearing | $4,699,553 | $4,792,369 |
| Interest-bearing transaction and savings accounts | 6,973,338 | 6,759,661 |
| Interest-bearing certificates | 1,485,880 | 1,477,467 |
| Total deposits | 13,158,771 | 13,029,497 |
| Advances from FHLB | 52,000 | 323,000 |
| Other borrowings | 183,341 | 182,877 |
| Subordinated notes, net | 89,456 | 92,851 |
| Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities) | 66,586 | 66,413 |
| Operating lease liabilities | 45,524 | 48,659 |
| Accrued expenses and other liabilities | 211,578 | 228,428 |
| Deferred compensation | 46,515 | 45,975 |
| Total liabilities | 13,853,771 | 14,017,700 |
| COMMITMENTS AND CONTINGENCIES (Note 11) | ||
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock - $0.01 par value per share, 500,000 shares authorized; no shares outstanding at March 31, 2024 and December 31, 2023 | — | — |
| Common stock and paid in capital - $0.01 par value per share, 50,000,000 shares authorized; 34,395,221 shares issued and outstanding at March 31, 2024; 34,348,369 shares issued and outstanding at December 31, 2023 | 1,300,969 | 1,299,651 |
| Common stock (non-voting) and paid in capital - $0.01 par value per share, 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2024; no shares issued and outstanding at December 31, 2023 | — | — |
| Retained earnings | 663,021 | 642,175 |
| Carrying value of shares held in trust for stock-based compensation plans | (6,607) | (6,563) |
| Liability for common stock issued to stock related compensation plans | 6,607 | 6,563 |
| Accumulated other comprehensive loss | (299,482) | (289,135) |
| Total shareholders’ equity | 1,664,508 | 1,652,691 |
| Total liabilities and shareholders’ equity | $15,518,279 | $15,670,391 |
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