WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported fourth-quarter profit of $51.2 million.
On a per-share basis, the Walla Walla, Washington-based company said it had profit of $1.49. Earnings, adjusted for non-recurring costs, came to $1.55 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The regional bank posted revenue of $220.2 million in the period. Its adjusted revenue was $167.7 million, missing Street forecasts. Three analysts surveyed by Zacks expected $170.3 million.
For the year, the company reported profit of $195.4 million, or $5.64 per share. Revenue was reported as $660.7 million.
Banner shares have climbed roughly 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $66.22, a drop of slightly more than 6% in the last 12 months.
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