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$70.36+0.4%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
(in thousands except for shares and per share amounts)
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| INTEREST INCOME: | |||
| Loans receivable | $655,590 | $577,891 | $450,916 |
| Mortgage-backed securities | 66,085 | 72,352 | 67,585 |
| Securities and cash equivalents | 44,428 | 51,329 | 54,068 |
| Total interest income | 766,103 | 701,572 | 572,569 |
| INTEREST EXPENSE: | |||
| Deposits | 199,465 | 100,126 | 10,124 |
| FHLB advances | 8,941 | 10,524 | 489 |
| Other borrowings | 4,299 | 3,376 | 377 |
| Subordinated debt | 11,682 | 11,541 | 8,400 |
| Total interest expense | 224,387 | 125,567 | 19,390 |
| Net interest income | 541,716 | 576,005 | 553,179 |
| PROVISION FOR CREDIT LOSSES | 7,581 | 10,789 | 10,364 |
| Net interest income after provision for credit losses | 534,135 | 565,216 | 542,815 |
| NON-INTEREST INCOME | |||
| Deposit fees and other service charges | 43,371 | 41,638 | 44,459 |
| Mortgage banking operations | 12,207 | 11,817 | 10,834 |
| BOLI | 9,193 | 9,245 | 7,794 |
| Miscellaneous | 8,289 | 5,169 | 6,805 |
| 73,060 | 67,869 | 69,892 | |
| Net loss on sale of securities | (5,190) | (19,242) | (3,248) |
| Net change in valuation of financial instruments carried at fair value | (982) | (4,218) | 807 |
| Gain on sale of branches, including related deposits | — | — | 7,804 |
| Total non-interest income | 66,888 | 44,409 | 75,255 |
| NON-INTEREST EXPENSE: | |||
| Salary and employee benefits | 250,555 | 244,563 | 242,266 |
| Less capitalized loan origination costs | (16,857) | (16,257) | (24,313) |
| Occupancy and equipment | 48,771 | 47,886 | 52,018 |
| Information and computer data services | 29,165 | 28,445 | 25,986 |
| Payment and card processing services | 22,518 | 20,547 | 21,195 |
| Professional and legal expenses | 7,858 | 9,830 | 14,005 |
| Advertising and marketing | 5,149 | 4,794 | 3,959 |
| Deposit insurance | 11,398 | 10,529 | 6,649 |
| State and municipal business and use taxes | 5,648 | 5,260 | 4,693 |
| Real estate operations, net | 293 | (538) | (104) |
| Amortization of core deposit intangibles | 2,626 | 3,756 | 5,279 |
| Loss on extinguishment of debt | — | — | 793 |
| Miscellaneous | 24,414 | 23,723 | 24,869 |
| Total non-interest expense | 391,538 | 382,538 | 377,295 |
| Income before provision for income taxes | 209,485 | 227,087 | 240,775 |
| PROVISION FOR INCOME TAXES | 40,587 | 43,463 | 45,397 |
| NET INCOME | $168,898 | $183,624 | $195,378 |
| Earnings per common share: | |||
| Basic | $4.90 | $5.35 | $5.70 |
| Diluted | $4.88 | $5.33 | $5.67 |
| Cumulative dividends declared per common share | $1.92 | $1.92 | $1.76 |
| Weighted average number of common shares outstanding: | |||
| Basic | 34,470,057 | 34,344,142 | 34,264,322 |
| Diluted | 34,628,710 | 34,450,412 | 34,459,922 |
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