BANNER CORP reported second-quarter 2026 results with revenue of $171.96M and net income of $48.89M, driven by higher net interest income and loan growth versus the year-ago quarter.
Financial Highlights
- Revenue was $171.96M in Q2 2026, compared with $162.15M in Q2 2025; YoY change 6.0%.
- Net income was $48.89M in Q2 2026, compared with $45.50M in Q2 2025; YoY change 7.5%.
- Diluted EPS was $1.43 in Q2 2026, compared with $1.31 in Q2 2025; YoY change 9.2%.
Business Highlights
- Revenue growth: Net revenue modestly increased quarter-over-quarter to $172.0M, supported by higher net interest income and loan growth.
- Channel & product mix: Origination focus shifted toward commercial, construction and consumer HELOCs, while sales of 1-4 family loans remained active.
- Operational efficiency & costs: The efficiency ratio rose as non-interest expenses increased (staffing, IT, marketing), partly offset by capitalized loan costs.
- Branch & footprint: Continued regional branch and loan production office operations across six states with targeted deposit acquisition efforts.
- Strategic milestone: Executed a definitive all-stock merger agreement to acquire Pacific Financial, expected to close in Q3 2026.
Original SEC Filing:
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