In This Article:
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Net Profit: $46.4 million or $1.34 per diluted share for Q4 2024.
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Full-Year Net Income: $168.9 million for 2024.
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Core Earnings: $223.2 million for full-year 2024.
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Q4 Revenue from Core Operations: $160 million.
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Full-Year Revenue from Core Operations: $615 million for 2024.
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Return on Average Assets: 1.15% for Q4 2024.
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Core Deposits: 89% of total deposits.
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Loan Growth: Loans increased by 5% year-over-year.
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Core Deposit Growth: Core deposits increased by 4% year-over-year.
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Tangible Common Equity Per Share: Increased by 9% year-over-year.
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Dividend: Core dividend of $0.48 per common share.
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Delinquent Loans: 0.49%, up 9 basis points from the previous quarter.
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Adversely Classified Loans: Increased by $42 million, totaling 1.69% of total loans.
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Non-Performing Assets: Declined by $6 million, representing 0.24% of total assets.
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Net Provision for Credit Losses: $3 million for the quarter.
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Loan Originations: Declined moderately compared to the previous quarter.
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Loan-to-Deposit Ratio: 84% at the end of the quarter.
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Net Interest Margin: Increased 10 basis points to 3.82%.
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Non-Interest Income: Increased by $2 million from the prior quarter.
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Non-Interest Expense: Increased by $3.2 million from the prior quarter.
Release Date: January 23, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Banner Corp (NASDAQ:BANR) reported a net profit of $46.4 million or $1.34 per diluted share for Q4 2024, an increase from $1.24 per share in Q4 2023.
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The company maintained a strong core deposit base, with core deposits representing 89% of total deposits.
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Banner Corp's core earnings for the full year 2024 were $223.2 million, showcasing strong operational performance.
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The company was recognized by Forbes and Newsweek as one of America's 100 best banks and one of the most trustworthy companies.
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Banner Corp's liquidity and capital profile remain robust, with all capital ratios exceeding regulatory well-capitalized levels.
Negative Points
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Delinquent loans increased to 0.49%, up 9 basis points compared to the previous quarter and year-end 2023.
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Adversely classified loans rose by $42 million, now totaling 1.69% of total loans.
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Loan originations declined moderately due to reduced consumer demand and muted construction and development loan closings.
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Non-interest expense increased by $3.2 million from the prior quarter, reflecting higher professional fees and marketing expenses.
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The agricultural loan portfolio faced challenges due to lower commodity prices, impacting smaller borrowers.