Banner Corporation reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $46,660,000 compared to $41,607,000 a year ago. Income before provision for income taxes was $17,344,000 compared to $17,258,000 a year ago. Net income was $12,226,000 or $0.63 per basic and diluted share compared to $11,554,000 or $0.60 per basic and diluted share a year ago. The current quarter
results were impacted by $2.8 million of acquisition-related expenses which, net of taxes, reduced net income by
$0.09 per diluted share. Return on average assets was 1.02% compared to 1.06% a year ago. Return on average equity was 8.33% compared to 8.52% a year ago.

For the year, the company reported net interest income of $179,872,000 compared to $166,716,000 a year ago. Income before provision for income taxes was $80,385,000 compared to $69,083,000 a year ago. Net income was $54,647,000 or $2.82 per basic and diluted share compared to $46,555,000 or $2.40 per basic and diluted share a year ago. Return on average assets was 1.18% compared to 1.09% a year ago. Return on average equity was 9.69% compared to 8.85% a year ago.