WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported second-quarter net income of $39.8 million.
On a per-share basis, the Walla Walla, Washington-based company said it had net income of $1.15. Earnings, adjusted for one-time gains and costs, came to $1.17 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The regional bank posted revenue of $206.3 million in the period. Its adjusted revenue was $149.7 million, which matched Street forecasts.
Banner shares have risen 11% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.38, an increase of 26% in the last 12 months.
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