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Banner: 2Q Earnings Snapshot

July 22, 2020 GMT

WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Wednesday reported second-quarter profit of $23.5 million.

On a per-share basis, the Walla Walla, Washington-based company said it had profit of 67 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.

The regional bank posted revenue of $156.5 million in the period. Its adjusted revenue was $147.3 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $141 million.

Banner shares have dropped 36% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $35.98, a decrease of 33% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BANR at https://www.zacks.com/ap/BANR