Banner: Q2 Earnings Snapshot
WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Wednesday reported second-quarter profit of $48 million.
The Walla Walla, Washington-based company said it had profit of $1.39 per share. Earnings, adjusted for non-recurring gains, came to $1.25 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.
The regional bank posted revenue of $160.2 million in the period. Its adjusted revenue was $156.2 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $142.9 million.
Banner shares have fallen slightly more than 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.82, a climb of 18% in the last 12 months.