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Banner: 3Q Earnings Snapshot

October 21, 2020 GMT

WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Wednesday reported third-quarter profit of $36.5 million.

On a per-share basis, the Walla Walla, Washington-based company said it had net income of $1.03. Earnings, adjusted for non-recurring costs, were $1.04 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The regional bank posted revenue of $157.8 million in the period. Its adjusted revenue was $149.2 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $147.9 million.

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Banner shares have decreased 33% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $37.86, a decrease of 32% 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