Banner Corporation (BANR) 10-Year Financial Performance & Capital Metrics

BANR • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutBanner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans. The company also provides commercial real estate loans, including owner-occupied, investment properties, and multifamily residential real estate loans; construction, land, and land development loans; residential mortgage loans; commercial business loans; agricultural loans; and consumer and other loans, such as home equity lines of credit, automobile, and boat and recreational vehicle loans, as well as loans secured by deposit accounts. In addition, it engages in the mortgage banking operations through the origination and sale of one-to four-family and multi-family residential loans, as well as small business administration loans. Further, the company provides electronic and digital banking services. As of December 31, 2021, it operated 150 branch offices and 18 loan production offices located in Washington, Oregon, California, Idaho, and Utah. Banner Corporation was founded in 1890 and is headquartered in Walla Walla, Washington.Show more

Net Interest Income $542M -6.0%
Total Revenue $827M +11.5%
Net Income $169M -8.0%
Return on Equity 9.86% -16.6%
Net Interest Margin 3.34% -9.0%
Efficiency Ratio 46.64% -8.5%
ROA 1.06% -9.1%
Equity / Assets 10.95% +3.8%
Book Value per Share 51.24 +6.8%
Tangible BV/Share 40.38 +9.2%
Debt/Equity 0.34 -20.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 46.6% efficiency ratio
✓Well capitalized: 11.0% equity/assets
✓Healthy dividend yield of 3.0%
✓Trading at only 1.2x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.32%

5Y5.95%

3Y9.46%

TTM-

Profit (Net Income) CAGR

10Y12.06%

5Y2.92%

3Y-5.64%

TTM15.38%

EPS CAGR

10Y5.75%

5Y3.15%

3Y-5.38%

TTM14.85%

ROCE

10Y Avg9.23%

5Y Avg9.98%

3Y Avg10.53%

Latest8.35%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	588.27M	18.20	82.73	45.45%	2.94%	11.23%	8.46%	0.17
CWBCCommunity West Bancshares	425.55M	22.21	49.36	51.89%	4.67%	6.95%	4.03%	0.56
GBCIGlacier Bancorp, Inc.	6.06B	46.60	27.74	11.64%	15.27%	6.57%	3.46%	1.18
GBFHGBank Financial Holdings Inc.	449.97M	31.30	22.52	2%	30.99%	11.8%	5.84%	0.22
BOHBank of Hawaii Corporation	2.77B	69.73	20.15	6.6%	14.57%	10.28%	6.08%	0.45
HFWAHeritage Financial Corporation	817.34M	24.07	19.41	4.64%	13.64%	6.33%	7.47%	0.47
HTBKHeritage Commerce Corp	755.62M	12.32	18.67	3.35%	16.12%	6.19%	4.94%	0.06
NRIMNorthrim BanCorp, Inc.	622.52M	28.18	16.98	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	242.28M	375.07M	393.03M	430.99M	468.92M	481.3M	496.89M	553.18M	576M	541.72M
NII Growth %	0.35%	0.55%	0.05%	0.1%	0.09%	0.03%	0.03%	0.11%	0.04%	-0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	254.43M	391.48M	412.28M	463.65M	525.69M	519.15M	520.5M	572.57M	701.57M	766.1M
Interest Expense	12.15M	16.41M	19.25M	32.66M	56.77M	37.84M	23.61M	19.39M	125.57M	224.39M
Loan Loss Provision	0	6.03M	8M	8.5M	10M	67.88M	-33.39M	10.36M	10.79M	7.58M
Non-Interest Income+	60.24M	80.76M	76.06M	86.51M	93.88M	117.37M	110.27M	70.57M	40.12M	61.23M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	314.67M	472.24M	488.34M	550.15M	619.57M	636.51M	630.77M	643.14M	741.69M	827.33M
Revenue Growth %	0.33%	0.5%	0.03%	0.13%	0.13%	0.03%	-0.01%	0.02%	0.15%	0.12%
Non-Interest Expense	234.55M	320.16M	309.83M	343.88M	369.67M	388.34M	393.96M	372.61M	378.25M	385.88M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	67.97M	129.64M	151.26M	165.11M	183.13M	142.45M	246.59M	240.78M	227.09M	209.49M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.16%	0.91%	0.17%	0.09%	0.11%	-0.22%	0.73%	-0.02%	-0.06%	-0.08%
Pretax Income+	67.97M	129.64M	151.26M	165.11M	183.13M	142.45M	246.59M	240.78M	227.09M	209.49M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	22.75M	44.26M	90.49M	28.59M	36.85M	26.52M	45.55M	45.4M	43.46M	40.59M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	45.22M	85.39M	60.78M	136.51M	146.28M	115.93M	201.05M	195.38M	183.62M	168.9M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.16%	0.89%	-0.29%	1.25%	0.07%	-0.21%	0.73%	-0.03%	-0.06%	-0.08%
Net Income (Continuing)	45.22M	85.39M	60.78M	136.51M	146.28M	115.93M	201.05M	195.38M	183.62M	168.9M
EPS (Diluted)+	1.89	2.52	1.84	4.15	4.18	3.26	5.76	5.67	5.33	4.88
EPS Growth %	-0.32%	0.33%	-0.27%	1.26%	0.01%	-0.22%	0.77%	-0.02%	-0.06%	-0.08%
EPS (Basic)	1.90	2.52	1.85	4.16	4.20	3.29	5.81	5.70	5.35	4.90
Diluted Shares Outstanding	23.87M	33.85M	32.99M	32.89M	34.97M	35.53M	34.92M	34.46M	34.45M	34.63M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	261.92M	247.72M	261.2M	272.2M	307.74M	1.23B	2.13B	243.06M	254.46M	501.86M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Total Investments+	8.64B	8.69B	8.73B	10.63B	11.2B	12.69B	13.21B	13.97B	14.1B	14.34B
Investments Growth %	1.01%	0.01%	0.01%	0.22%	0.05%	0.13%	0.04%	0.06%	0.01%	0.02%
Long-Term Investments	7.5B	7.88B	7.81B	8.99B	9.65B	10.37B	9.57B	11.18B	14.1B	14.31B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	247.74M	244.58M	242.66M	339.15M	373.12M	373.12M	373.12M	373.12M	373.12M	373.12M
Intangible Assets	37.47M	30.16M	22.66M	32.92M	29.16M	21.43M	14.86M	9.44M	5.68M	3.06M
PP&E (Net)	167.6M	166.48M	154.81M	171.81M	178.01M	219.92M	204.02M	188.04M	175.96M	164.59M
Other Assets	276.52M	261.05M	248.86M	312.04M	415.51M	378.81M	755.46M	815.62M	539.88M	610.44M
Total Current Assets	1.43B	1.08B	1.21B	1.95B	1.9B	3.6B	5.82B	3.09B	317.56M	586.03M
Total Non-Current Assets	8.37B	8.71B	8.55B	9.92B	10.71B	11.43B	10.99B	12.74B	15.35B	15.61B
Total Assets+	9.8B	9.79B	9.76B	11.87B	12.6B	15.03B	16.8B	15.83B	15.67B	16.2B
Asset Growth %	1.07%	-0%	-0%	0.22%	0.06%	0.19%	0.12%	-0.06%	-0.01%	0.03%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	324.19M	255.1M	194.77M	773.27M	687.78M	609.3M	592.63M	511.81M	713.8M	606.48M
Net Debt	62.27M	7.38M	-66.43M	501.08M	380.04M	-624.88M	-1.54B	268.75M	459.34M	104.63M
Long-Term Debt	225.86M	149.42M	98.91M	654.28M	569.3M	365.18M	268.38M	223.8M	482.26M	437.75M
Short-Term Debt	98.33M	105.69M	95.86M	119M	118.47M	184.78M	264.49M	232.8M	182.88M	125.26M
Other Liabilities	40.47M	40.07M	41.04M	40.34M	45.69M	45.46M	46.68M	44.29M	274.4M	304.83M
Total Current Liabilities	8.23B	8.3B	8.35B	9.7B	10.4B	12.9B	14.74B	14.05B	13.21B	13.64B
Total Non-Current Liabilities	266.33M	189.49M	139.95M	694.62M	614.99M	469.98M	374.82M	323.3M	805.33M	786.06M
Total Liabilities	8.5B	8.49B	8.49B	10.39B	11.01B	13.37B	15.11B	14.38B	14.02B	14.43B
Total Equity+	1.3B	1.31B	1.27B	1.48B	1.59B	1.67B	1.69B	1.46B	1.65B	1.77B
Equity Growth %	1.23%	0%	-0.03%	0.16%	0.08%	0.05%	0.01%	-0.14%	0.13%	0.07%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.05%	0.07%	0.05%	0.1%	0.1%	0.07%	0.12%	0.12%	0.12%	0.1%
Book Value per Share	54.47	38.57	38.58	44.95	45.59	46.90	48.41	42.26	47.97	51.24
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	1.26B	1.21B	1.19B	1.34B	1.37B	1.35B	1.3B	1.29B	1.3B	1.31B
Additional Paid-in Capital	0	0	0	0	0	0	0	0	0	0
Retained Earnings	39.62M	95.33M	90.53M	134.06M	186.84M	247.32M	390.76M	525.24M	642.17M	744.09M
Accumulated OCI	-730K	-3.46M	-5.04M	7.1M	33.26M	69.07M	184K	-362.77M	-289.13M	-277.27M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	16.22M	-75.82M	346.7M	30.77M	149.61M	125.39M	301.58M	238.05M	257.2M	293.19M
Operating CF Growth %	-0.83%	-5.68%	5.57%	-0.91%	3.86%	-0.16%	1.41%	-0.21%	0.08%	0.14%
Net Income	45.22M	85.39M	60.78M	136.51M	146.28M	115.93M	201.05M	195.38M	183.62M	168.9M
Depreciation & Amortization	13.12M	20.52M	20.95M	21.28M	25.43M	25.86M	23.92M	22.21M	21.63M	20.7M
Deferred Taxes	-5.42M	5.7M	53.3M	440K	7.9M	-16.16M	12.71M	15.87M	-1.66M	7.06M
Other Non-Cash Items	-35.89M	-194.94M	202.09M	-135.47M	-32.56M	13.76M	63.52M	501K	40.34M	108.22M
Working Capital Changes	-5.15M	3.21M	3.63M	1.46M	-4.58M	-23.17M	-8.88M	-4.78M	4.1M	-21.72M
Cash from Investing+	15.06M	146.45M	-393.29M	-976.22M	-143.11M	-1.45B	-1.02B	-1.44B	191.93M	-371.17M
Purchase of Investments	-155.35M	-303.46M	-844.74M	-923.56M	-332.35M	-2.64B	-2.95B	-850.55M	-58.17M	-63.17M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	24.21M	0	113.22M	-1.57M	26.94M	0	0	-168.14M	0	0
Other Investing	-200.76M	-106.15M	-370.99M	-449.2M	-271.56M	-518.39M	505.25M	-1.05B	-335.65M	-664.11M
Cash from Financing+	104.57M	-84.83M	60.07M	956.44M	29.04M	2.26B	1.61B	-684.73M	-437.73M	325.38M
Dividends Paid	-17.17M	-28.28M	-65.76M	-59.28M	-56.07M	-94.08M	-57.62M	-61.08M	-66.77M	-66.73M
Share Repurchases	0	-50.77M	-31.05M	-34.4M	-53.92M	-31.77M	-56.53M	-10.96M	-3.48M	-2.17M
Stock Issued	34K	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K
Other Financing	225.97M	65.48M	220.7M	502.26M	270.71M	2.52B	1.76B	-532M	-590.56M	484.9M
Net Change in Cash+	135.84M	-14.2M	13.48M	11M	35.54M	926.45M	900.12M	-1.89B	11.4M	247.39M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	126.07M	261.92M	247.72M	261.2M	272.2M	307.74M	1.23B	2.13B	243.06M	254.46M
Cash at End	261.92M	247.72M	261.2M	272.2M	307.74M	1.23B	2.13B	243.06M	254.46M	501.86M
Interest Paid	12.25M	16.72M	18.88M	28.1M	58.24M	40.94M	24.28M	18.58M	110.84M	224.81M
Income Taxes Paid	27.26M	36.15M	35.5M	21.66M	27.33M	39.67M	29.02M	24.89M	38.67M	24.19M
Free Cash Flow+	4.14M	-92.06M	334.46M	7.68M	124.91M	112.58M	291.08M	223.33M	242.55M	279.44M
FCF Growth %	-0.96%	-23.21%	4.63%	-0.98%	15.26%	-0.1%	1.59%	-0.23%	0.09%	0.15%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.8%	6.55%	4.71%	9.92%	9.52%	7.11%	11.98%	12.42%	11.81%	9.86%
Return on Assets (ROA)	0.62%	0.87%	0.62%	1.26%	1.2%	0.84%	1.26%	1.2%	1.17%	1.06%
Net Interest Margin	2.47%	3.83%	4.03%	3.63%	3.72%	3.2%	2.96%	3.49%	3.68%	3.34%
Efficiency Ratio	74.54%	67.8%	63.45%	62.51%	59.67%	61.01%	62.46%	57.94%	51%	46.64%
Equity / Assets	13.27%	13.33%	13.03%	12.46%	12.65%	11.09%	10.06%	9.2%	10.55%	10.95%
Book Value / Share	54.47	38.57	38.58	44.95	45.59	46.9	48.41	42.26	47.97	51.24
NII Growth	34.7%	54.81%	4.79%	9.66%	8.8%	2.64%	3.24%	11.33%	4.13%	-5.95%
Dividend Payout	37.97%	33.12%	108.2%	43.42%	38.33%	81.15%	28.66%	31.26%	36.36%	39.51%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Deposit Account	18.09M	19.24M	16.43M	19.16M	23.71M	22.5M	24.71M
Deposit Account Growth	-	6.34%	-14.60%	16.64%	23.73%	-5.12%	9.83%
Credit Card, Merchant Discount	10.23M	13.11M	12.55M	14.97M	15.55M	14.47M	13.43M
Credit Card, Merchant Discount Growth	-	28.21%	-4.25%	19.27%	3.86%	-6.98%	-7.15%

Frequently Asked Questions

Valuation & Price

Banner Corporation (BANR) has a price-to-earnings (P/E) ratio of 13.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Banner Corporation (BANR) grew revenue by 11.5% over the past year. This is steady growth.

Yes, Banner Corporation (BANR) is profitable, generating $190.5M in net income for fiscal year 2024 (20.4% net margin).

Dividend & Returns

Yes, Banner Corporation (BANR) pays a dividend with a yield of 3.02%. This makes it attractive for income-focused investors.

Banner Corporation (BANR) has a return on equity (ROE) of 9.9%. This is below average, suggesting room for improvement.

Industry Metrics

Banner Corporation (BANR) has a net interest margin (NIM) of 3.3%. This indicates healthy earnings from lending activities.

Banner Corporation (BANR) has an efficiency ratio of 46.6%. This is excellent, indicating strong cost control.

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