WALLA WALLA, Wash. (AP) — WALLA WALLA, Wash. (AP) — Banner Corp. (BANR) on Wednesday reported second-quarter earnings of $48.9 million.
The Walla Walla, Washington-based company said it had profit of $1.43 per share. Earnings, adjusted for one-time gains and costs, were $1.44 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.47 per share.
The regional bank posted revenue of $220.9 million in the period. Its adjusted revenue was $172 million, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $172.8 million.
Banner shares have increased 12% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.24, an increase of almost 8% in the last 12 months.
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