secwatch.observer — SEC 8-K summary
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Issuer:     BANNER CORP (BANR)
CIK:        0000946673
Form:       8-K
Filed at:   2021-10-21T23:59:59+00:00
Accession:  0000939057-21-000303
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banner Q3 net income $49.9M ($1.44 EPS), down 8% QoQ; announces Banner Forward cost initiative, declares $0.41 dividend
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- Q3 net income $49.9M ($1.44 diluted EPS) vs $54.4M ($1.56) Q2; revenue $155.5M up 4% QoQ and YoY.
- Recorded $8.6M recapture of provision for credit losses; allowance now 1.52% of loans.
- Banner Forward restructuring incurred $7.6M in Q3; initiative targets revenue growth and cost reduction, full implementation by 2023.
- Declared $0.41 quarterly dividend payable Nov 12; repurchased 300K shares at avg $55.50 during Q3.
- Core deposits grew 18% YoY to $13.31B; NPA ratio fell to 0.18% of assets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/946673/000093905721000303/0000939057-21-000303-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/946673/000093905721000303/8k93021.htm
  HTML page:      https://secwatch.observer/filing/0000939057-21-000303

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