Banner Q2 net income $39.6M ($1.15 EPS) down 17% YoY; NIM 4.00%, provision $6.8M

BANNER CORP

2023-Q2 EPS reported $2.76

Net income $39.6M ($1.15 diluted EPS) down 29% QoQ and 17% YoY from $48.0M ($1.39) in Q2 2022.
Net interest income $142.5M, down 7% QoQ; net interest margin 4.00% vs 4.30% prior quarter and 3.44% a year ago.
Provision for credit losses $6.8M vs $524k recapture prior quarter; AFS securities credit loss provision $2.0M.
Net loans $10.33B, up 3% QoQ and 11% YoY; core deposits 90% of total deposits; uninsured deposits 31%.
Quarterly dividend $0.48 per share, payable Aug 11 to record Aug 1; tangible common equity per share $33.83.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANNER CORP reported second quarter of 2023 results: net income net income of $39.6 million, or $1.15 per diluted share, EPS $1.15 per diluted share.

Period: second quarter of 2023
Net income: net income of $39.6 million, or $1.15 per diluted share
EPS: $1.15 per diluted share
Result: reported results

Exact text from the filing

Banner Corporation Reports Net Income of $39.6 Million, or $1.15 Per Diluted Share, for Second Quarter 2023

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BANNER CORP reported six months ended June 30, 2023 results: net income net income increased 4% to $95.1 million, or $2.76 per diluted share, EPS $2.76 per diluted share.

Period: six months ended June 30, 2023
Net income: net income increased 4% to $95.1 million, or $2.76 per diluted share
EPS: $2.76 per diluted share
Result: reported results

Exact text from the filing

For the six months ended June 30, 2023, net income increased 4% to $95.1 million, or $2.76 per diluted share

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Source: SEC EDGAR

accession 0000946673-23-000020

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