WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported first-quarter net income of $45.1 million.
The Walla Walla, Washington-based company said it had profit of $1.30 per share. Earnings, adjusted for non-recurring gains, came to $1.29 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.23 per share.
The regional bank posted revenue of $213 million in the period. Its adjusted revenue was $160.2 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $156.2 million.
Banner shares have declined 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $59.86, an increase of 39% 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
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