Apr. 16 at 8:02 PM
$BANR Banner Corp. reports Q1 EPS
$1.30, consensus
$1.22
Reports Q1 revenue
$160.2M, consensus
$159.67M. "Banner's first quarter operating results reflect the continued successful execution of our super community bank strategy, which emphasizes growing new client relationships, maintaining our core funding position, promoting client loyalty and advocacy through our responsive service model, and sustaining a moderate risk profile," said Mark Grescovich, President and CEO.
"Our earnings for the first quarter of 2025 benefited from our solid year over year loan growth as well as net interest margin expansion during the first quarter as a result of higher yields on interest-earning assets and lower funding costs. This benefit was partially offset by lower non-interest income and increased non-interest expense. The investments we have made and continue to make to improve our operating performance have positioned Banner well for the future.
Additionally, Banner's credit metrics continue to be strong, our reserve for loan losses remained solid, and our capital base continues to be robust. We continue to benefit from a strong core deposit base that has been resilient in a highly competitive environment, with core deposits representing 89% of total deposits at quarter end. Banner has upheld its core values for the past 134 years, which are to do the right thing for our clients, communities, colleagues, company and shareholders; and to provide consistent and reliable strength through all economic cycles and change events."
