WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported third-quarter profit of $53.5 million.
On a per-share basis, the Walla Walla, Washington-based company said it had profit of $1.54. Earnings, adjusted for non-recurring gains, came to $1.52 per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.
The regional bank posted revenue of $226.6 million in the period. Its adjusted revenue was $170.7 million.
Banner shares have declined slightly more than 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $62.55, a fall of roughly 4% in the last 12 months.
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