BANNER CORP
For the period ended Dec 31, 2024. Filed Feb 26, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 26, 2025
BANR$69.63-1.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Financial Condition
(in thousands, except shares and per share amounts)
December 31, 2024 and 2023
| ASSETS | December 31,2024 | December 31,2023 |
|---|---|---|
| Cash and due from banks | $203,402 | $209,634 |
| Interest-bearing deposits | 298,456 | 44,830 |
| Total cash and cash equivalents | 501,858 | 254,464 |
| Securities—available-for-sale; amortized cost $2,460,262 and $2,729,980, respectively | 2,104,511 | 2,373,783 |
| Securities—held-to-maturity, net of allowance for credit losses of $297 and $332, respectively | 1,001,564 | 1,059,055 |
| Total securities | 3,106,075 | 3,432,838 |
| Federal Home Loan Bank (FHLB) stock | 22,451 | 24,028 |
| Loans held for sale (includes $26,185 and $9,105, at fair value, respectively) | 32,021 | 11,170 |
| Loans receivable | 11,354,656 | 10,810,455 |
| Allowance for credit losses – loans | (155,521) | (149,643) |
| Net loans receivable | 11,199,135 | 10,660,812 |
| Accrued interest receivable | 60,885 | 63,100 |
| Property and equipment, net | 124,589 | 132,231 |
| Goodwill | 373,121 | 373,121 |
| Other intangibles, net | 3,058 | 5,684 |
| Bank-owned life insurance (BOLI) | 312,549 | 304,366 |
| Deferred tax assets, net | 148,858 | 153,365 |
| Operating lease right-of-use assets | 39,998 | 43,731 |
| Other assets | 275,439 | 211,481 |
| Total assets | $16,200,037 | $15,670,391 |
| LIABILITIES | ||
| Deposits: | ||
| Non-interest-bearing | $4,591,543 | $4,792,369 |
| Interest-bearing transaction and savings accounts | 7,423,183 | 6,759,661 |
| Interest-bearing certificates | 1,499,672 | 1,477,467 |
| Total deposits | 13,514,398 | 13,029,497 |
| Advances from FHLB | 290,000 | 323,000 |
| Other borrowings | 125,257 | 182,877 |
| Subordinated notes, net | 80,278 | 92,851 |
| Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities) | 67,477 | 66,413 |
| Operating lease liabilities | 43,472 | 48,659 |
| Accrued expenses and other liabilities | 258,070 | 228,428 |
| Deferred compensation | 46,759 | 45,975 |
| Total liabilities | 14,425,711 | 14,017,700 |
| COMMITMENTS AND CONTINGENCIES (Note 18) | ||
| SHAREHOLDERS’ EQUITY | ||
| Preferred stock - $0.01 par value per share, 500,000 shares authorized; no shares outstanding at December 31, 2024 and December 31, 2023 | — | — |
| Common stock and paid in capital - $0.01 par value per share, 50,000,000 shares authorized; 34,459,832 shares issued and outstanding at December 31, 2024; 34,348,369 shares issued and outstanding at December 31, 2023 | 1,307,509 | 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 December 31, 2024 and December 31, 2023 | — | — |
| Retained earnings | 744,091 | 642,175 |
| Carrying value of shares held in trust for stock-based compensation plans | (6,194) | (6,563) |
| Liability for common stock issued to stock related compensation plans | 6,194 | 6,563 |
| Accumulated other comprehensive loss | (277,274) | (289,135) |
| Total shareholders’ equity | 1,774,326 | 1,652,691 |
| Total liabilities and shareholders’ equity | $16,200,037 | $15,670,391 |
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