BANNER CORPORATION BANR Income Statement

Banner corporation (BANR)

Income statement / TTM

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
6,538	7,544	7,727	8,056	7,755	5,607	0	0	0	-	-	-	-	11,733	29,315	29,802	31,275	26,110	10,535	7,834	5,928	4,325	1,530	2,024	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-
INTEREST INCOME:
Loans receivable
474,944	471,473	465,185	451,957	434,803	413,370	391,888	382,241	377,183	374,449	375,218	369,802	363,942	359,612	353,798	315,742	277,885	237,292	195,295	190,042	182,163	177,541	172,908	168,365	167,458	167,204	167,278	169,278	171,459	174,322	177,893	179,581	181,954	184,357	190,404	197,236	0	0	0
Mortgage-backed securities
37,270	38,640	39,647	39,147	38,252	35,076	32,150	29,879	27,219	24,535	21,391	19,550	18,585	19,328	20,907	17,411	13,412	9,049	5,012	5,164	5,335	5,779	5,697	5,519	5,467	5,168	5,012	4,820	4,421	4,176	3,933	3,643	3,507	3,455	3,505	3,751	0	0	0
Securities and cash equivalents
15,134	15,566	16,179	16,119	15,753	15,186	14,327	13,875	13,606	13,300	13,207	13,035	12,745	12,537	12,261	10,757	9,368	8,092	6,882	6,954	7,126	7,341	7,401	7,395	7,385	7,340	7,554	7,883	8,228	8,664	9,059	10,048	10,001	9,751	9,453	8,448	0	0	0
Total interest income
527,348	525,679	521,011	507,223	488,808	463,632	438,365	425,995	418,008	412,284	409,816	402,387	395,272	391,477	386,966	343,910	300,665	254,433	207,189	202,160	194,624	190,661	186,006	181,279	180,310	179,712	179,844	181,981	184,108	187,162	190,885	193,272	195,462	197,563	203,362	209,435	0	0	0
INTEREST EXPENSE:
Deposits
37,737	37,630	35,183	30,686	25,927	20,642	16,250	13,922	12,840	12,273	11,766	11,361	10,950	11,105	11,647	10,601	9,598	8,385	7,040	7,205	7,347	7,578	7,975	8,402	8,982	9,737	10,627	11,833	13,378	15,107	17,188	19,821	22,800	26,164	33,296	41,827	0	0	0
FHLB advances
10,822	12,234	12,025	10,306	8,435	5,636	4,329	3,510	2,312	1,908	1,222	909	947	953	1,161	909	573	311	40	56	104	125	116	124	113	99	155	191	215	254	255	255	255	370	629	885	0	0	0
Other borrowings
386	330	275	253	235	245	255	279	313	317	316	314	309	310	308	273	243	211	178	174	171	172	173	174	180	192	215	242	265	758	1,253	1,741	2,235	2,265	2,310	2,377	0	0	0
Junior subordinated debentures
6,338	6,574	6,649	6,642	6,507	6,136	5,753	5,374	4,990	4,752	4,572	4,365	4,186	4,040	3,853	3,650	3,465	3,247	3,089	3,007	2,933	2,914	2,924	2,932	2,948	2,968	3,001	3,064	3,124	3,395	3,692	3,928	4,167	4,193	4,220	4,226	0	0	0
Total interest expense
55,283	56,768	54,132	47,887	41,104	32,659	26,587	23,085	20,455	19,250	17,876	16,949	16,392	16,408	16,969	15,433	13,879	12,154	10,347	10,442	10,555	10,789	11,188	11,632	12,223	12,996	13,998	15,330	16,982	19,514	22,388	25,745	29,457	32,992	40,455	49,315	0	0	0
Net interest income
472,065	468,911	466,879	459,336	447,704	430,973	411,778	402,910	397,553	393,034	391,940	385,438	378,880	375,069	369,997	328,477	286,786	242,279	196,842	191,718	184,069	179,872	174,818	169,647	168,087	166,716	177,846	175,651	172,126	167,648	186,497	183,527	178,005	164,571	112,907	99,120	0	0	0
Provision for losses on real estate held for sale
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
PROVISION FOR CREDIT LOSSES
29,700	10,000	8,500	8,500	8,500	8,500	8,000	8,000	8,000	8,000	8,030	8,030	8,030	6,030	4,000	2,000	0	0	0	0	0	0	0	0	0	0	1,000	4,000	8,000	13,000	17,000	19,000	23,000	35,000	50,000	61,000	0	0	0
Net interest income after provision for credit losses
442,317	458,911	458,379	450,836	439,204	422,473	403,778	394,910	389,553	385,034	383,910	377,408	370,850	369,039	365,997	326,477	286,786	242,279	196,842	191,718	184,069	179,872	174,818	169,647	168,087	166,716	152,846	153,651	154,126	154,648	133,497	132,527	131,005	129,571	162,907	160,120	0	0	0
NON-INTEREST INCOME:
Deposit fees and other service charges
43,817	46,632	49,533	51,457	49,396	48,074	46,376	45,179	44,359	43,452	37,565	39,434	40,482	41,911	50,130	46,949	44,299	40,607	35,751	34,294	32,077	30,553	28,907	27,600	26,882	26,581	26,344	26,043	25,698	25,266	24,727	24,142	23,552	22,962	22,770	22,306	0	0	0
Fees and Commissions, Mortgage Banking and Servicing
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Bank-owned life insurance (BOLI)
4,419	4,645	4,468	5,118	4,928	4,505	4,531	3,848	4,376	4,618	4,491	4,781	4,448	4,538	4,702	3,919	3,244	2,497	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loan servicing fees, net of amortization and impairment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,088	1,114	0	0	0
Miscellaneous
10,467	8,632	7,585	5,240	6,915	7,148	6,918	8,054	6,386	8,985	9,127	8,766	8,374	6,001	5,131	4,276	3,601	2,821	933	1,390	1,558	1,885	2,987	2,961	2,804	2,784	4,833	5,059	4,909	4,697	3,301	2,741	2,596	2,511	2,367	2,024	0	0	0
Other operating income
87,694	82,124	83,573	83,002	81,133	81,070	78,173	76,111	76,262	77,935	72,181	77,622	77,816	78,002	84,854	76,320	70,398	63,645	56,139	53,005	48,400	44,496	43,364	41,779	41,878	42,555	45,006	46,115	44,782	43,775	38,428	0	0	-	0	-	0	0	0
Net gain on sale of securities
110	33	-914	-912	-840	-837	-2,261	-1,991	-2,089	-2,080	540	1,161	835	843	530	-361	-9	-540	-537	-531	-503	42	43	39	51	1,022	1,023	1,040	1,057	51	48	0	0	-	0	-	-	-	-
Other-than-temporary impairment recovery
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-409	-409	0	0	409	-2,591	0	0	-	0	-	-	0	-
Net change in valuation of financial instruments carried at fair value
-4,815	-208	26	140	478	3,775	2,564	2,026	1,152	-2,844	-2,979	-3,610	-3,337	-2,620	-3,019	-3,008	-1,834	-813	447	3,012	2,679	1,374	1,337	-467	-1,186	-2,278	-1,568	-743	-19,547	-16,515	-18,688	-20,193	805	-624	2,529	2,740	0	0	0
Gain on sale of branches, including related loans and deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-
Total non-interest income
82,989	81,949	82,685	82,230	80,771	84,008	90,665	88,335	87,514	85,200	69,742	75,173	75,314	76,225	82,365	72,951	68,555	62,292	56,049	55,486	59,655	54,991	56,777	53,384	43,697	44,662	44,870	46,412	26,292	26,902	23,134	20,703	0	-	0	0	-	-	-
NON-INTEREST EXPENSE:
Salary and employee benefits
231,677	226,409	221,481	211,321	207,186	202,613	198,574	198,575	196,100	192,096	188,399	184,226	180,382	180,883	185,722	167,990	149,559	127,282	101,378	97,323	92,909	89,778	87,648	85,921	84,815	84,388	83,379	81,749	79,915	78,696	77,244	75,856	74,754	72,499	70,862	69,429	0	0	0
Less capitalized loan origination costs
29,891	28,934	25,000	21,429	18,763	17,925	17,196	17,209	17,074	17,379	18,030	18,652	18,961	18,895	18,117	16,911	15,791	14,379	13,421	12,878	12,373	11,730	11,052	10,763	10,551	11,227	21,602	21,342	15,525	10,404	11,256	6,672	7,471	8,001	-7,328	-7,139	0	0	0
Occupancy and equipment
51,731	52,390	52,503	52,322	51,215	49,215	47,813	47,165	47,636	47,866	48,359	47,601	46,608	45,000	43,952	39,443	34,748	30,366	24,521	23,870	23,053	22,743	22,417	21,915	21,790	21,423	21,381	21,875	21,664	21,812	21,871	21,412	21,644	21,561	21,728	21,957	0	0	0
Information/computer data services
22,942	22,458	21,368	20,477	19,768	18,823	18,442	18,096	17,632	17,245	17,187	17,603	18,355	19,281	19,973	17,356	14,777	12,110	8,892	8,804	8,449	8,131	7,940	7,519	7,524	7,309	7,189	7,286	7,109	6,904	6,456	6,196	5,971	6,023	6,136	6,183	0	0	0
Payment and card processing expenses
17,249	16,993	16,588	16,006	15,696	15,412	14,986	14,819	14,807	14,330	8,718	11,015	12,797	14,359	21,668	19,958	18,199	16,430	13,924	12,957	11,961	11,460	11,048	10,377	10,080	9,870	9,547	9,352	9,019	8,604	8,497	8,294	8,117	7,874	7,736	7,287	0	0	0
Professional and legal expenses
9,221	9,736	14,143	14,449	15,951	17,945	16,577	16,916	16,810	17,534	14,616	13,525	10,658	8,120	8,079	6,772	6,628	4,828	3,340	3,173	3,561	3,753	3,881	4,171	3,882	3,781	3,649	3,568	3,972	4,411	4,771	5,728	5,689	6,017	6,307	6,231	0	0	0
Advertising and marketing
8,134	7,836	8,404	7,969	8,045	8,346	9,170	9,514	9,139	8,637	8,443	8,595	9,303	9,709	8,372	8,049	7,773	7,649	7,154	7,649	6,821	6,266	6,911	6,013	6,441	6,885	6,455	6,796	6,648	7,215	7,649	7,354	7,607	7,281	7,270	7,410	0	0	0
Deposit insurance expense
3,057	2,840	2,325	4,920	4,523	4,446	4,604	4,714	4,764	4,689	4,450	4,239	4,479	4,551	4,823	4,646	3,960	3,189	2,500	2,394	2,406	2,415	2,323	2,280	2,260	2,329	2,541	2,768	2,967	3,685	4,337	4,845	5,418	6,024	6,939	7,849	0	0	0
State/municipal business and use taxes
3,919	3,880	3,816	3,707	3,516	3,284	3,167	3,045	2,508	2,594	2,810	2,986	3,477	3,516	3,070	2,589	2,274	1,889	1,798	1,798	1,731	1,437	1,500	1,486	1,636	1,941	2,037	2,158	2,185	2,289	2,277	2,248	2,227	2,153	2,221	2,201	0	0	0
REO operations, net
-526	-303	-514	-821	-242	-804	388	581	625	2,030	1,427	1,688	1,188	-175	-721	-740	-770	-397	-3	185	461	446	-98	313	399	689	956	1,659	-505	-3,354	-30,026	-38,028	-29,491	-22,262	16,258	27,122	0	0	0
Amortization of core deposit intangibles
8,100	8,151	8,025	7,388	6,717	6,047	5,568	5,762	6,004	6,246	6,511	6,693	6,877	7,061	7,235	5,797	4,356	3,164	1,799	2,044	2,127	1,990	1,948	1,888	1,915	1,941	1,962	1,999	2,045	2,092	2,138	2,184	2,231	2,276	2,321	2,382	0	0	0
Miscellaneous
27,735	28,122	27,540	27,751	27,828	26,754	26,154	26,359	26,694	27,142	28,256	29,190	30,164	30,131	28,455	24,642	20,192	17,565	15,152	14,590	13,962	13,619	12,698	12,367	12,469	12,474	12,989	12,886	12,635	12,795	12,789	12,867	12,517	12,135	11,919	11,839	0	0	0
Total non-interest expense
362,899	357,728	359,434	353,758	349,679	341,371	328,476	327,175	324,395	318,970	309,080	307,841	307,871	315,624	343,268	310,873	278,720	236,600	177,575	169,373	160,074	153,741	149,440	145,435	142,457	140,975	138,565	137,430	137,639	141,453	145,601	153,284	157,873	158,104	165,765	162,751	0	0	0
Noninterest Operating Expense, Before Acquisition Related Costs
356,122	350,184	351,707	345,702	341,924	335,764	0	0	0	-	-	-	-	303,891	313,953	281,071	247,445	210,490	167,040	161,539	154,146	149,416	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-
COVID-19 Expenses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income before provision for income taxes
162,407	183,132	181,630	179,308	170,296	165,110	165,967	156,070	152,672	151,264	144,572	144,740	138,293	129,640	105,094	88,555	76,621	67,971	75,316	77,831	83,650	81,122	82,155	77,596	69,327	70,403	71,151	71,633	47,779	40,097	25,841	13,844	22,483	5,457	-18,367	-33,294	0	0	0
PROVISION FOR INCOME TAXES
32,593	36,854	31,479	30,961	29,225	28,595	80,528	83,327	86,899	90,488	47,445	48,839	46,889	44,255	35,620	29,985	25,759	22,749	25,271	25,914	27,995	27,052	28,586	27,181	24,146	24,189	21,463	17,990	-19,501	-24,785	-29,423	0	0	-	0	-	-	0	0
Net Income (Loss) Attributable to Parent
129,814	146,278	150,151	148,347	141,071	136,515	85,439	72,743	65,773	60,776	97,127	95,901	91,404	85,385	69,474	58,570	50,862	45,222	50,045	51,917	55,655	54,070	53,569	50,415	45,181	46,214	49,688	53,643	67,280	64,882	55,264	45,674	22,483	5,457	-42,355	-53,331	0	0	0
Preferred stock dividend
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,938	5,877	6,200	6,200	6,200	6,200	6,200	0	0	0
Preferred stock discount accretion
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,298	-4,251	-3,460	-2,581	-1,701	824	1,648	0	0	0
Gain on repurchase of preferred stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	-
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	59,117	48,908	37,716	14,554	-2,444	-50,229	-61,179	0	0	0
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
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Amortization of unrealized loss on tax exempt securities transferred from available-for-sale to held-to-maturity
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Other comprehensive income (loss)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
COMPREHENSIVE INCOME (LOSS)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0
Mortgage Banking [Member]
Mortgage banking operations
-	-	21,987	21,187	-	-	20,348	19,030	21,141	-	20,998	24,641	24,512	25,552	24,891	21,176	19,254	17,720	16,205	14,621	12,518	10,249	9,450	9,198	10,172	11,170	13,829	15,013	14,175	13,812	11,913	9,540	7,659	6,146	5,737	5,153	0	0	0