Banner Corp (OQ:BANR)
Business Focus: Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 10 S 1st Ave WALLA WALLA WA 99362 |
| Tel: | 1-509-3445351 |
| Website: | https://investor.bannerbank.com |
| IR: | See website |
| Key People | ||
| Mark J. Grescovich President, Chief Executive Officer, Director of the Banner Corporration and Banner Bank | Cynthia D. Purcell Executive Vice President, Chief Strategy and Administration Officer of the Bank | Robert G. Butterfield Executive Vice President, Chief Financial Officer of the Company and the Bank |
| Sherrey Luetjen Executive Vice President, General Counsel, Company Secretary of the Corporation and Bank and Ethics Officer of the Corporation | Janet M. Brown Executive Vice President, Chief Information Officer of the Banner Bank | James M. Costa Executive Vice President, Chief Risk Officer of the Bank |
| James P. Garcia Executive Vice President, Chief Audit Executive of the Banner Bank | Kayleen R. Kohler Executive Vice President of Human Resources, Chief Diversity Officer | Kenneth A. Larsen Executive Vice President - Mortgage Banking of the Branner Bank | James P. G Mclean Executive Vice President - Commercial Real Estate Lending Division of the Banner Bank |
| Business Overview |
| 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. |
| Financial Overview |
| For the three months ended 31 March 2024, Banner Corp interest income increased 11% to $184.7M. Net interest income after loan loss provision decreased 14% to $132.4M. Net income decreased 32% to $37.6M. Net interest income after loan loss provision reflects Securities and cash equivalents decrease of 23% to $11.3M, Mortgage-backed securities decrease of 11% to $16.9M. Net income also reflects Deposits increase from $9.2M to $44.6M (expense). |
| Employees: | 1,966 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $1,761M as of Mar 31, 2024 |
| Annual revenue (TTM): | $719.30M as of Mar 31, 2024 |
| EBITDA (TTM): | $245.90M as of Mar 31, 2024 |
| Net annual income (TTM): | $165.63M as of Mar 31, 2024 |
| Free cash flow (TTM): | N/A |
| Net Debt Last Fiscal Year: | $170.96M as of Mar 31, 2024 |
| Shares outstanding: | 34,395,221 as of Mar 31, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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