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Banner Corporation Reports Net Income of $53.5 Million, or $1.54 Per Diluted Share, for Third Quarter 2025; Increases Quarterly Cash Dividend Declared by 4% to $0.50 Per Share

BANR
  • Banner Corporation reported third-quarter 2025 net income of $53.5 million ($1.54 per diluted share), an increase from $45.5 million ($1.31 per share) in the prior quarter and $45.2 million ($1.30 per share) in the same period in 2024.
  • Net interest income for the quarter reached $150.0 million, driven by higher yields on interest-earning assets and decreased funding costs.
  • The provision for credit losses was $2.7 million, down from $4.8 million in the preceding quarter but up from $1.7 million in the third quarter of 2024.
  • Total revenue increased 5% to $170.7 million quarter-over-quarter and 11% year-over-year, while non-interest expense rose to $102.0 million.
  • The efficiency ratio improved to 59.76% for the quarter, compared to 62.50% in the prior quarter and 62.63% in the prior year.
  • The Board of Directors increased the regular quarterly cash dividend by 4% to $0.50 per share, payable on November 14, 2025.
  • Total assets stood at $16.56 billion as of September 30, 2025, with net loans at $11.54 billion and total deposits at $14.02 billion.
  • Core deposits represented 89% of total deposits, while FHLB advances decreased 82% to $100.0 million as the bank utilized deposits to pay down borrowings.
  • Banner repurchased 250,000 shares of common stock during the quarter at an average price of $63.11 per share.
  • Non-performing assets decreased to $45.3 million, or 0.27% of total assets, indicating stable credit quality.
  • Return on average assets was 1.30% for the quarter, up from 1.13% in both the preceding quarter and the prior year period.
  • Common shareholders' equity per share increased 3% to $55.71, while tangible common shareholders' equity per share rose 4% to $44.79.
  • Net income for the nine months ended September 30, 2025, was $144.1 million ($4.15 per share), compared to $122.5 million ($3.54 per share) in the same period of 2024.
  • The company maintains regulatory capital ratios in excess of "well-capitalized" requirements, with a Common Equity Tier 1 ratio of 12.78%.