BANNER CORP

For the period ended Mar 31, 2025. Filed May 6, 2025.

About this filing

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, 2025 · Filed May 6, 2025

BANR$69.63-1.0%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

	Three Months Ended March 31,
	2025	2024
OPERATING ACTIVITIES:
Net income	$45,135	$37,559
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation	4,304	4,569
Deferred income and expense, net of amortization	(2,377)	(1,594)
Capitalized loan servicing rights, net of amortization	68	391
Amortization of core deposit intangibles	456	723
Loss on sale of securities, net	—	4,903
Net change in valuation of financial instruments carried at fair value	(315)	992
Decrease in deferred taxes	229	61
Increase in current taxes payable/receivable, net	6,955	6,273
Stock-based compensation	2,230	2,225
Net change in cash surrender value of BOLI	(2,268)	(2,234)
Gain on sale of loans, excluding capitalized servicing rights	(1,452)	(1,013)
Gain on disposal of real estate held for sale and property and equipment, net	(140)	(261)
Provision for credit losses	3,139	520
Origination of loans held for sale	(75,240)	(48,424)
Proceeds from sales of loans held for sale	109,737	66,932
Net change in:
Other assets	8,819	1,771
Other liabilities	(42,042)	(21,927)
Net cash provided from operating activities	57,238	51,466
INVESTING ACTIVITIES:
Purchases of securities—available-for-sale	(9,844)	(10,477)
Principal repayments and maturities of securities—available-for-sale	43,137	42,740
Proceeds from sales of securities—available-for-sale	—	70,777
Principal repayments and maturities of securities—held-to-maturity	9,779	20,724
Loan originations, net of repayments	(110,973)	(72,019)
Purchases of loans and participating interest in loans	(10,780)	(4,666)
Proceeds from sales of other loans	10,947	4,522
Purchases of property and equipment	(1,661)	(2,227)
Proceeds from sale of real estate held for sale and sale of other property	1,563	581
Proceeds from FHLB stock repurchase program	62,055	47,747
Purchase of FHLB stock	(56,891)	(35,460)
Other	874	(35)
Net cash (used by) provided from investing activities	(61,794)	62,207

Continued on next page

CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)

	Three Months Ended March 31,
	2025	2024
FINANCING ACTIVITIES:
Increase in deposits, net	$78,867	$129,274
Repayment of overnight and short term FHLB advances, net	(122,000)	(271,000)
Decrease in other borrowings, net	5,331	464
Cash dividends paid	(16,783)	(16,692)
Taxes paid related to net share settlement of equity awards	(772)	(907)
Net cash used by financing activities	(55,357)	(158,861)
NET CHANGE IN CASH AND CASH EQUIVALENTS	(59,913)	(45,188)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	501,858	254,464
CASH AND CASH EQUIVALENTS, END OF PERIOD	$441,945	$209,276

	Three Months Ended March 31,
	2025	2024
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid in cash	$51,240	$53,278
Tax paid	—	5
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Transfer of loans to real estate owned and other repossessed assets	1,278	242
Dividends accrued but not paid until after period end	1,365	1,106
Loans, held-for-sale, transferred from portfolio	(25,560)	(15,682)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.