BANNER CORPORATION BANR Income Statement

Banner corporation (BANR)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Acquisition-related costs
1,142	4,419	676	301	2,148	4,602	1,005	0	0	-	-	-	-	788	1,720	2,412	6,813	18,370	2,207	3,885	1,648	2,795	-494	1,979	45	-	0	0	-	-	-	-	-	-	-	-	-	-	-
INTEREST INCOME:
Loans receivable
118,926	120,915	118,096	117,007	115,455	114,627	104,868	99,853	94,022	93,145	95,221	94,795	91,288	93,914	89,805	88,935	86,958	88,100	51,749	51,078	46,365	46,103	46,496	43,199	41,743	41,470	41,953	42,292	41,489	41,544	43,953	44,473	44,352	45,115	45,641	46,846	46,755	51,162	52,473
Mortgage-backed securities
9,137	8,924	9,415	9,794	10,507	9,931	8,915	8,899	7,331	7,005	6,644	6,239	4,647	3,861	4,803	5,274	5,390	5,440	1,307	1,275	1,027	1,403	1,459	1,446	1,471	1,321	1,281	1,394	1,172	1,165	1,089	995	927	922	799	859	875	972	1,045
Securities and cash equivalents
3,602	3,570	3,925	4,037	4,034	4,183	3,865	3,671	3,467	3,324	3,413	3,402	3,161	3,231	3,241	3,112	2,953	2,955	1,737	1,723	1,677	1,745	1,809	1,895	1,892	1,805	1,803	1,885	1,847	2,019	2,132	2,230	2,283	2,414	3,121	2,183	2,033	2,116	2,116
Total interest income
131,665	133,409	131,436	130,838	129,996	128,741	117,648	112,423	104,820	103,474	105,278	104,436	99,096	101,006	97,849	97,321	95,301	96,495	54,793	54,076	49,069	49,251	49,764	46,540	45,106	44,596	45,037	45,571	44,508	44,728	47,174	47,698	47,562	48,451	49,561	49,888	49,663	54,250	55,634
INTEREST EXPENSE:
Deposits
8,750	9,950	10,014	9,023	8,643	7,503	5,517	4,264	3,358	3,111	3,189	3,182	2,791	2,604	2,784	2,771	2,946	3,146	1,738	1,768	1,733	1,801	1,903	1,910	1,964	2,198	2,330	2,490	2,719	3,088	3,536	4,035	4,448	5,169	6,169	7,014	7,812	12,301	14,700
FHLB advances
2,064	2,281	3,107	3,370	3,476	2,072	1,388	1,499	677	765	569	301	273	79	256	339	279	287	4	3	17	16	20	51	38	7	28	40	24	63	64	64	63	64	64	64	178	323	320
Other borrowings
116	121	82	67	60	66	60	49	70	76	84	83	74	75	82	78	75	73	47	48	43	40	43	45	44	41	44	51	56	64	71	74	549	559	559	568	579	604	626
Junior subordinated debentures
1,477	1,566	1,612	1,683	1,713	1,641	1,605	1,548	1,342	1,258	1,226	1,164	1,104	1,078	1,019	985	958	891	816	800	740	733	734	726	721	743	742	742	741	776	805	802	1,012	1,073	1,041	1,041	1,038	1,100	1,047
Total interest expense
12,407	13,918	14,815	14,143	13,892	11,282	8,570	7,360	5,447	5,210	5,068	4,730	4,242	3,836	4,141	4,173	4,258	4,397	2,605	2,619	2,533	2,590	2,700	2,732	2,767	2,989	3,144	3,323	3,540	3,991	4,476	4,975	6,072	6,865	7,833	8,687	9,607	14,328	16,693
Net interest income
119,258	119,491	116,621	116,695	116,104	117,459	109,078	105,063	99,373	98,264	100,210	99,706	94,854	97,170	93,708	93,148	91,043	92,098	52,188	51,457	46,536	46,661	47,064	43,808	42,339	41,607	41,893	42,248	40,968	52,737	39,698	38,723	36,490	71,586	36,728	33,201	23,056	19,922	22,941
Provision for losses on real estate held for sale
21,748	-	-	-	2,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
PROVISION FOR CREDIT LOSSES
21,700	4,000	2,000	2,000	2,000	2,500	2,000	2,000	2,000	2,000	2,000	2,000	2,000	2,030	2,000	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0	1,000	3,000	4,000	5,000	5,000	5,000	8,000	17,000	20,000	16,000
Net interest income after provision for credit losses
97,510	115,491	114,621	114,695	114,104	114,959	107,078	103,063	97,373	96,264	98,210	97,706	92,854	95,140	91,708	91,148	91,043	92,098	52,188	51,457	46,536	46,661	47,064	43,808	42,339	41,607	41,893	42,248	40,968	27,737	42,698	42,723	41,490	6,586	41,728	41,201	40,056	39,922	38,941
NON-INTEREST INCOME:
Deposit fees and other service charges
9,803	9,637	10,331	14,046	12,618	12,538	12,255	11,985	11,296	10,840	11,058	11,165	10,389	4,953	12,927	12,213	11,818	13,172	9,746	9,563	8,126	8,316	8,289	7,346	6,602	6,670	6,982	6,628	6,301	6,433	6,681	6,283	5,869	5,894	6,096	5,693	5,279	5,702	5,632
Fees and Commissions, Mortgage Banking and Servicing
10,191	-	-	-	3,415	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank-owned life insurance (BOLI)
1,050	1,170	1,076	1,123	1,276	993	1,726	933	853	1,019	1,043	1,461	1,095	892	1,333	1,128	1,185	1,056	550	453	438	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan servicing fees, net of amortization and impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	289	397	256	146	315
Miscellaneous
2,639	3,201	2,914	1,713	804	2,154	569	3,388	1,037	1,924	1,705	1,720	3,636	2,066	1,344	1,328	1,263	1,196	489	653	483	-692	946	821	810	410	920	664	790	2,459	1,146	514	578	1,063	586	369	493	919	243
Other operating income
23,683	20,256	20,937	22,818	18,113	21,705	20,366	20,949	18,050	18,808	18,304	21,100	19,723	13,054	23,745	21,294	19,909	19,906	15,211	15,372	13,156	12,400	12,077	10,767	9,252	11,268	10,492	10,866	9,929	13,719	11,601	9,533	8,922	-	8,372	-	7,246	7,652	6,186
Net gain on sale of securities
78	62	-2	-28	1	-885	0	44	4	-2,309	270	-54	13	311	891	-380	21	-2	0	-28	-510	1	6	0	35	2	2	12	1,006	3	19	29	0	-	0	-	-	-	-
Other-than-temporary impairment recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	-409	0	409	0	0	-	-3,000	-	-	-3,000	-
Net change in valuation of financial instruments carried at fair value
-4,596	-36	-69	-114	11	198	45	224	3,308	-1,013	-493	-650	-688	-1,148	-1,124	-377	29	-1,547	-1,113	797	1,050	-287	1,452	464	-255	-324	-352	-255	-1,347	386	473	-19,059	1,685	-1,787	-1,032	1,939	256	1,366	-821
Gain on sale of branches, including related loans and deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	9,079	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Total non-interest income
19,165	20,282	20,866	22,676	18,125	21,018	20,411	21,217	21,362	27,675	18,081	20,396	19,048	12,217	23,512	20,537	19,959	18,357	14,098	16,141	13,696	12,114	13,535	20,310	9,032	13,900	10,142	10,623	9,997	14,108	11,684	-9,497	10,607	-	10,340	9,253	-	-	-
NON-INTEREST EXPENSE:
Salary and employee benefits
59,908	57,050	59,090	55,629	54,640	52,122	48,930	51,494	50,067	48,083	48,931	49,019	46,063	44,386	44,758	45,175	46,564	49,225	27,026	26,744	24,287	23,321	22,971	22,330	21,156	21,191	21,244	21,224	20,729	20,182	19,614	19,390	19,510	18,730	18,226	18,288	17,255	17,093	16,793
Less capitalized loan origination costs
5,806	8,797	7,889	7,399	4,849	4,863	4,318	4,733	4,011	4,134	4,331	4,598	4,316	4,785	4,953	4,907	4,250	4,007	3,747	3,787	2,838	3,049	3,204	3,282	2,195	2,371	2,915	3,070	2,871	12,746	2,655	-2,747	-2,250	13,598	-1,929	-1,948	-1,720	-1,731	-1,740
Occupancy and equipment
13,107	13,377	12,566	12,681	13,766	13,490	12,385	11,574	11,766	12,088	11,737	12,045	11,996	12,581	10,979	11,052	10,388	11,533	6,470	6,357	6,006	5,688	5,819	5,540	5,696	5,362	5,317	5,415	5,329	5,320	5,811	5,204	5,477	5,379	5,352	5,436	5,394	5,546	5,581
Information/computer data services
5,810	6,202	5,657	5,273	5,326	5,112	4,766	4,564	4,381	4,731	4,420	4,100	3,994	4,673	4,836	4,852	4,920	5,365	2,219	2,273	2,253	2,147	2,131	1,918	1,935	1,956	1,710	1,923	1,720	1,836	1,807	1,746	1,515	1,388	1,547	1,521	1,567	1,501	1,594
Payment and card processing expenses
4,240	4,638	4,330	4,041	3,984	4,233	3,748	3,731	3,700	3,807	3,581	3,719	3,223	-1,805	5,878	5,501	4,785	5,504	4,168	3,742	3,016	2,998	3,201	2,746	2,515	2,586	2,530	2,449	2,305	2,263	2,335	2,116	1,890	2,156	2,132	1,939	1,647	2,018	1,683
Professional and legal expenses
1,919	2,262	2,704	2,336	2,434	6,669	3,010	3,838	4,428	5,301	3,349	3,732	5,152	2,383	2,258	865	2,614	2,342	951	721	814	854	784	1,109	1,006	982	1,074	820	905	850	993	1,224	1,344	1,210	1,950	1,185	1,672	1,500	1,874
Advertising and marketing
1,827	2,021	2,221	2,065	1,529	2,589	1,786	2,141	1,830	3,413	2,130	1,766	1,328	3,219	2,282	2,474	1,734	1,882	1,959	2,198	1,610	1,387	2,454	1,370	1,055	2,032	1,556	1,798	1,499	1,602	1,897	1,650	2,066	2,036	1,602	1,903	1,740	2,025	1,742
Deposit insurance expense
1,635	1,608	-1,604	1,418	1,418	1,093	991	1,021	1,341	1,251	1,101	1,071	1,266	1,012	890	1,311	1,338	1,284	713	625	567	595	607	637	576	503	564	617	645	715	791	816	1,363	1,367	1,299	1,389	1,969	2,282	2,209
State/municipal business and use taxes
984	917	1,011	1,007	945	853	902	816	713	736	780	279	799	952	956	770	838	506	475	455	453	415	475	388	159	478	461	538	464	574	582	565	568	562	553	544	494	630	533
REO operations, net
-100	-40	-126	-260	123	-251	-433	319	-439	941	-240	363	966	338	21	-137	-397	-208	2	-167	-24	186	190	109	-39	-358	601	195	251	-91	1,304	-1,969	-2,598	-26,763	-6,698	6,568	4,631	11,757	4,166
Amortization of core deposit intangibles
2,001	2,061	1,985	2,053	2,052	1,935	1,348	1,382	1,382	1,456	1,542	1,624	1,624	1,721	1,724	1,808	1,808	1,895	286	367	616	530	531	450	479	488	471	477	505	509	508	523	552	555	554	570	597	600	615
Miscellaneous
6,357	7,892	6,435	7,051	6,744	7,310	6,646	7,128	5,670	6,710	6,851	7,463	6,118	7,824	7,785	8,437	6,085	6,148	3,972	3,987	3,458	3,735	3,410	3,359	3,115	2,814	3,079	3,461	3,120	3,329	2,976	3,210	3,280	3,323	3,054	2,860	2,898	3,107	2,974
Total non-interest expense
95,185	93,690	87,308	86,716	90,014	95,396	81,632	82,637	81,706	82,501	80,331	79,857	76,281	72,611	79,092	79,887	84,034	100,255	46,697	47,734	41,914	41,230	38,495	38,435	35,581	36,929	34,490	35,457	34,099	34,519	33,355	35,666	37,913	38,667	41,038	40,255	38,144	46,328	38,024
Noninterest Operating Expense, Before Acquisition Related Costs
93,804	89,271	86,632	86,415	87,866	90,794	80,627	82,637	81,706	-	-	-	-	71,823	77,372	77,475	77,221	81,885	44,490	43,849	40,266	38,435	38,989	36,456	35,536	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COVID-19 Expenses
239	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before provision for income taxes
21,490	42,083	48,179	50,655	42,215	40,581	45,857	41,643	37,029	41,438	35,960	38,245	35,621	34,746	36,128	31,798	26,968	10,200	19,589	19,864	18,318	17,545	22,104	25,683	15,790	18,578	17,545	17,414	16,866	19,326	18,027	-6,440	9,184	5,070	6,030	2,199	-7,842	-18,754	-8,897
PROVISION FOR INCOME TAXES
4,608	8,428	8,602	10,955	8,869	3,053	8,084	9,219	8,239	54,986	10,883	12,791	11,828	11,943	12,277	10,841	9,194	3,308	6,642	6,615	6,184	5,830	7,285	8,696	5,241	7,364	5,880	5,661	5,284	4,638	2,407	-31,830	0	-	0	-	-	23,988	-3,951
Net Income (Loss) Attributable to Parent
16,882	33,655	39,577	39,700	33,346	37,528	37,773	32,424	28,790	-13,548	25,077	25,454	23,793	22,803	23,851	20,957	17,774	6,892	12,947	13,249	12,134	11,715	14,819	16,987	10,549	11,214	11,665	11,753	11,582	14,688	15,620	25,390	9,184	5,070	6,030	2,199	-7,842	-42,742	-4,946
Preferred stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	611	1,227	1,550	1,550	1,550	1,550	1,550	1,550	1,550	1,550
Preferred stock discount accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-1,174	-1,216	-454	-454	-2,127	-425	425	426	398	399
Gain on repurchase of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,070	-	-	-	0	-	-	-	-
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13,304	15,247	23,386	7,180	3,095	4,055	224	-9,818	-44,690	-6,895
Earnings Per Share [Abstract]
Basic
0.48	0.96	1.15	1.14	0.95	1.09	1.17	1.01	0.89	-0.40	0.76	0.77	0.72	0.68	0.70	0.62	0.52	0.03	0.62	0.64	0.61	0.60	0.76	0.88	0.55	0.58	0.60	0.61	0.60	0.70	0.80	1.27	0.40	0.20	0.24	0.01	-0.60	-2.83	-1.97
Diluted
0.47	0.94	1.15	1.14	0.95	1.09	1.17	1.00	0.89	-0.41	0.76	0.77	0.72	0.69	0.70	0.61	0.52	0.02	0.62	0.64	0.61	0.61	0.76	0.88	0.54	0.58	0.60	0.60	0.60	0.70	0.79	1.27	0.40	0.20	0.24	0.01	-0.60	-2.83	-1.97
Cumulative dividends declared per common share
0.41	1.41	0.41	0.41	0.41	0.38	0.38	0.85	0.35	0.25	0.25	1.25	0.25	0.23	0.23	0.21	0.21	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.18	0.15	0.15	0.12	0.12	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.07	0.07	0.07
Weighted average number of common shares outstanding:
Weighted average number of common shares outstanding, Basic
35,463	35,184	34,407	34,831	35,050	34,234	32,256	32,250	32,397	32,653	32,982	32,982	32,933	33,142	34,045	34,069	34,023	33,963	20,755	20,725	19,760	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average number of common shares outstanding, Diluted
35,640	35,318	34,497	34,882	35,172	34,353	32,376	32,331	32,516	32,764	33,079	33,051	33,051	33,069	34,124	34,116	34,103	34,010	20,821	20,789	19,845	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Unrealized holding gain (loss) during the period
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	576
Amortization of unrealized loss on tax exempt securities transferred from available-for-sale to held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10
Other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	586
COMPREHENSIVE INCOME (LOSS)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-4,360
Mortgage Banking [Member]
Mortgage banking operations
-	-	6,616	5,936	-	-	5,816	4,643	4,864	-	4,498	6,754	4,603	5,143	8,141	6,625	5,643	4,482	4,426	4,703	4,109	2,967	2,842	2,600	1,840	2,168	2,590	3,574	2,838	4,827	3,774	2,736	2,475	2,928	1,401	855	962	2,519	817