Banner Q1 2023 net income $55.6M, $1.61 EPS; raises dividend to $0.48

BANNER CORP

2023-Q1 EPS reported $1.61

Net income $55.6M ($1.61 diluted EPS), up 26% YoY from $44.0M ($1.27) and up 2% from Q4 2022.
Net interest margin 4.30%, up from 3.18% a year ago; net interest income $153.3M, +29% YoY.
Core deposits $12.20B (93% of deposits); uninsured deposits 33% (31% excl. collateralized).
Quarterly dividend raised to $0.48 per share from $0.44, payable May 12 to record May 2.
Non-performing assets $27.1M (0.17% assets), up from $23.4M (0.15%) at Dec 31, 2022.

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