earnings
confidence high
sentiment positive
materiality 0.70
Banner Q2 net income $48.9M ($1.43 EPS); announces acquisition of Pacific Financial
BANNER CORP
- Net income $48.9M ($1.43 diluted EPS) vs $54.7M ($1.60) prior Q and $45.5M ($1.31) year ago.
- Net interest income $153.7M, up from $150.2M prior Q; net interest margin 4.13% tax-equivalent.
- Loan originations $1.26B in Q2, up from $863M prior Q; net loans $11.83B, up 2% from Q1.
- Declared quarterly dividend $0.52/share, payable Aug 14 to holders of record Aug 4.
- Announced agreement to acquire Pacific Financial Corp (Bank of the Pacific) to expand in Western WA/OR.