Banner: Q2 Earnings Snapshot
WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported second-quarter net income of $39.6 million.
On a per-share basis, the Walla Walla, Washington-based company said it had net income of $1.15. Earnings, adjusted for non-recurring costs, came to $1.32 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.
The regional bank posted revenue of $180.2 million in the period. Its adjusted revenue was $150.9 million, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $167.3 million.
Banner shares have decreased 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $49.54, a drop of 16% 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