Banner Q2 net income $48M ($1.39 EPS); NIM expands to 3.44%; declares $0.44 dividend

BANNER CORP

2022-Q2 EPS reported $2.66 revenue$22,189,000

Net income $48.0M ($1.39 diluted EPS), up 9% QoQ but down 12% YoY from $54.4M.
Revenue $156.2M (+13% QoQ, +4% YoY); net interest margin 3.44% vs 3.18% prior quarter.
Provision for credit losses $4.5M (vs $7.0M recapture prior quarter); allowance 1.36% of loans.
Branch sale gain $7.8M; repurchased 200k shares at avg $54.80 in Q2.
Quarterly dividend $0.44/share, payable Aug 12, 2022 to holders of record Aug 2, 2022.

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