Every material Form 8-K Banner filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Banner Corporation reported third quarter 2024 net income of $45.2 million, or $1.30 per diluted share, up from $39.8 million in the prior quarter but down from $45.9 million a year earlier. The company also declared a regular quarterly dividend of $0.48 per share, payable November 15, 2024.
Net income was $45.2 million, or $1.30 per diluted share, versus $39.8 million ($1.15) in the second quarter of 2024 and $45.9 million ($1.33) in the third quarter of 2023.
Revenue was $153.7 million, compared with $149.7 million in the prior quarter and $154.4 million a year ago; net interest income was $135.7 million versus $141.8 million a year ago.
Quarterly cash dividend of $0.48 per share, payable November 15, 2024, to shareholders of record on November 5, 2024.
Net income for the nine months was $122.5 million, or $3.54 per diluted share, compared with $141.0 million, or $4.09 per share, a year earlier.
Banner Corporation reported second quarter 2024 net income of $39.8 million, or $1.15 per diluted share, up from $37.6 million, or $1.09 per share, in the first quarter but flat with $1.15 per share a year earlier. Revenue rose to $149.7 million from $144.6 million in the prior quarter, while net interest income fell to $132.5 million and net interest margin narrowed to 3.70% from 4.00% a year ago, which matters to shareholders because it shows core lending income under pressure from higher funding costs.
Q2 2024 net income $39.8 million, or $1.15 per diluted share, versus $37.6 million, or $1.09, in Q1 2024 and $39.6 million, or $1.15, in Q2 2023
Revenue $149.7 million, up from $144.6 million in Q1 2024 but down from $150.9 million in Q2 2023
Net interest margin 3.70%, compared with 3.74% in Q1 2024 and 4.00% in Q2 2023
Board declared a regular quarterly cash dividend of $0.48 per share, payable August 16, 2024, to holders of record on August 6, 2024
Banner Bank Executive Vice President Jim Costa was promoted to Chief Operating Officer of Banner Bank, effective May 26, 2024, while keeping his role as Chief Risk Officer. The company said the change realigns reporting structure, bringing technology, operations and risk management teams together. The filing also sets out his pay and a possible equity award, which may matter to shareholders as executive compensation.
Jim Costa, age 56, joined Banner Bank as Executive Vice President and Chief Risk Officer in October 2021; the promotion took effect May 26, 2024.
Annual salary of $500,000, with a short-term incentive target of 65% of eligible earnings and a long-term incentive target of 80% of base salary.
Relocation package valued at up to $200,000 plus tax gross-up amounts, tied to his move to Washington state.
He may receive restricted stock units or equivalent cash valued at up to $300,000, with the amount to be set by the end of October 2024.
Banner Corporation reported first-quarter 2024 net income of $37.6 million, or $1.09 per diluted share, down from $42.6 million ($1.24) in the preceding quarter and $55.6 million ($1.61) a year earlier. Higher funding costs reduced net interest income to $133.0 million, and the board declared a regular $0.48 per share dividend. The filing does not include an updated outlook, and the lower per-share earnings are the key takeaway for shareholders.
Net income was $37.6 million, or $1.09 per diluted share, versus $42.6 million ($1.24) in the preceding quarter and $55.6 million ($1.61) in the first quarter of 2023.
Revenues were $144.6 million, compared with $152.5 million in the preceding quarter and $162.6 million a year earlier.
Net interest margin was 3.74%, down from 3.83% in the preceding quarter, as total deposit costs rose to 1.37% from 1.18%.
A regular quarterly cash dividend of $0.48 per share is payable May 10, 2024, to holders of record on April 30, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Banner filing is on SEC EDGAR ↗. 8-K briefs of other companies →