Banner Corporation (BANR) Q3 2025 Financial Results Summary

October 15, 2025

Banner Corporation (NASDAQ GSM: BANR) reported its financial results for the third quarter of 2025, highlighting a robust performance compared to prior periods. The results indicate significant growth in net income and net interest income, as well as improvements in operational metrics.

Key Highlights

• Net Income:
• $53.5 million, or $1.54 per diluted share in Q3 2025
• Up 17.9% from $45.5 million ($1.31 per diluted share) in Q2 2025

• Up 18.7% from $45.2 million ($1.30 per diluted share) in Q3 2024

• Net Interest Income:

• $150.0 million in Q3 2025
• Increased 3.9% from $144.4 million in Q2 2025

• Up 10.5% from $135.7 million in Q3 2024

• Revenue:

• Total revenue reached $170.7 million in Q3 2025
• Increased 5% from $162.2 million in Q2 2025

• Up 11% from $153.7 million in Q3 2024

• Adjusted Revenue:

• $168.7 million in Q3 2025

• Compared to $163.0 million in Q2 2025 and $153.7 million in Q3 2024

• Net Interest Margin:

• 3.98% in Q3 2025
• Up 6 basis points from 3.92% in Q2 2025

• Increased 26 basis points from 3.72% in Q3 2024

• Return on Average Assets:

• 1.30% in Q3 2025

• Improved from 1.13% in both Q2 2025 and Q3 2024

• Provision for Credit Losses:

• $2.7 million in Q3 2025, down from $4.8 million in Q2 2025 and up from $1.7 million in Q3 2024

• Core Deposits:

• Represented 89% of total deposits as of September 30, 2025

• Total Deposits:

• $14.02 billion, up 4% from $13.53 billion in Q2 2025 and 4% from $13.54 billion in Q3 2024

• Net Loans Receivable:

• $11.54 billion, a slight increase from $11.53 billion in Q2 2025 and up 4% from $11.07 billion in Q3 2024

• Non-Performing Assets:

• Totaled $45.3 million, or 0.27% of total assets, down from $49.8 million (0.30%) in Q2 2025 and slightly up from $45.2 million (0.28%) in Q3 2024

• Common Shareholders’ Equity per Share:

• Increased to $55.71, up 3% from $53.95 in Q2 2025 and 7% from $52.06 in Q3 2024

• Tangible Common Shareholders’ Equity per Share:

• Increased to $44.79, up 4% from $43.09 in Q2 2025 and 9% from $41.12 in Q3 2024

Dividends and Share Repurchase

• Quarterly Dividend:

• Declared an increase of 4% to $0.50 per share, to be paid on November 14, 2025

• Share Repurchase:

• Purchased 250,000 shares of common stock during Q3 2025 at an average price of $63.11 per share

Summary of Financial Metrics

• Credit Quality:
• Allowance for credit losses – loans was $159.7 million (1.36% of total loans)

• Non-performing loans decreased to $40.0 million from $43.0 million in Q2 2025

• Operational Efficiency:

• Efficiency ratio improved to 59.76% from 62.50% in Q2 2025 and 62.63% in Q3 2024

• Adjusted efficiency ratio reduced to 58.54%

• Asset Growth:

• Total assets of $16.56 billion, a slight increase from $16.44 billion in Q2 2025 and $16.19 billion in Q3 2024

These results reflect Banner’s strategic approach in enhancing its operational metrics while managing risks effectively. The continued focus on core values and client relationships has also contributed to its financial resilience during the quarter.