Banner Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Charge-Offs for the Quarter Ended December 31, 2018
January 23, 2019 at 09:00 pm
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Banner Corporation reported earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported net interest income of $114,959,000 against $96,264,000 a year ago. Net income was $37,528,000 against loss of $13,548,000 a year ago. Basic earnings per share was $1.10 against loss of $0.41 a year ago. Diluted earnings per share was $1.09 against loss of $0.41 a year ago.
For the year, the company reported net interest income of $422,473,000 against $385,034,000 a year ago. Net income was $136,515,000 against $60,776,000 a year ago. Basic earnings per share was $4.16 against $1.85 a year ago. Diluted earnings per share was $4.15 against $1.84 a year ago.
For the quarter, the company reported net charge-offs was $1,278,000 against $2,072,000 a year ago.
Banner Corporation is a bank holding company for Banner Bank (the Bank). The Bank is a chartered commercial bank in the State of Washington. The Bank is a regional bank that offers a variety of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas. The Banks primary business is that of traditional banking institutions, accepting deposits and originating loans in locations surrounding its offices in Washington, Oregon, California and Idaho. The Bank is also a participant in secondary loan markets, engaging in mortgage banking operations, through the origination and sale of one- to four-family and multifamily residential loans. Its lending activities include commercial business and commercial real estate loans, agriculture business loans, construction and land development loans, one- to four-family and multifamily residential loans, United States small business administration (SBA) loans and consumer loans.
Banner Corporation Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Reports Net Charge-Offs for the Quarter Ended December 31, 2018