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Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans. The company also provides commercial real estate loans, including owner-occupied, investment properties, and multifamily residential real estate loans; one- to four-family residential real estate lending; construction, land, and land development loans; commercial business loans; agricultural mortgage and business loans; consumer and other loans, such as home equity lines of credit, automobile, and boat and recreational vehicle loans, as well as loans secured by deposit accounts; and loan solicitation and processing services. In addition, it provides electronic and digital banking services comprising debit cards and ATM programs, internet banking, remote deposit capture, and mobile banking services. The company was founded in 1890 and is based in Walla Walla, Washington.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $654M | - | $195M | $248M | 10.0% | 8.5% | 15.7% |
| 2024 | $603M | - | $169M | $279M | 9.5% | -2.1% | -8.0% |
| 2023 | $616M | - | $184M | $243M | 11.1% | -1.2% | -6.0% |
| 2022 | $624M | - | $195M | $223M | 13.4% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 623.75 | 616.12 | 602.94 | 654 |
| Operating Revenue | - | 623.75 | 616.12 | 602.94 | 654 |
| Selling General And Administration | - | 252.87 | 259.89 | 267.10 | 276.77 |
| Interest Income | - | 572.57 | 701.57 | 766.10 | 804.96 |
| Interest Expense | - | 19.39 | 125.57 | 224.39 | 217.04 |
| Net Interest Income | - | 553.18 | 576 | 541.72 | 587.92 |
| Pretax Income | - | 240.78 | 227.09 | 209.48 | 238.91 |
| Tax Provision | - | 45.40 | 43.46 | 40.59 | 43.53 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 1.33 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Net Income From Continuing And Discontinued Operation | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Net Income From Continuing Operation Net Minority Interest | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Net Income | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Net Income Common Stockholders | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Net Income Including Noncontrolling Interests | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Normalized Income | - | 189.69 | 183.62 | 168.90 | 195.38 |
| Diluted NI Availto Com Stockholders | - | 195.38 | 183.62 | 168.90 | 195.38 |
| Basic Average Shares | - | 34.26 | 34.34 | 34.47 | 34.46 |
| Diluted Average Shares | - | 34.46 | 34.45 | 34.63 | 34.66 |
| Reconciled Depreciation | - | 22.21 | 21.63 | 20.70 | 18.01 |
| Total Unusual Items | -3.38 | 7.01 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | -3.38 | 7.01 | 0 | 0 | - |
| Special Income Charges | -3.38 | 7.01 | 0 | 0 | - |
| Gain On Sale Of Business | 0 | 7.80 | 0 | 0 | - |
| Other Special Charges | 0.44 | - | - | - | - |
| Restructuring And Mergern Acquisition | 0.66 | 0 | 0 | - | - |
| Gain On Sale Of Security | - | -2.44 | -23.46 | -6.17 | -1.01 |
| Depreciation Amortization Depletion Income Statement | - | 5.28 | 3.76 | 2.63 | 1.57 |
| Depreciation And Amortization In Income Statement | - | 5.28 | 3.76 | 2.63 | 1.57 |
| General And Administrative Expense | - | 248.92 | 255.09 | 261.95 | 272.02 |
| Other Gand A | 24.36 | - | - | - | - |
| Salaries And Wages | - | 242.27 | 244.56 | 250.56 | 260.71 |
| Insurance And Claims | - | 6.65 | 10.53 | 11.40 | 11.31 |
| Selling And Marketing Expense | - | 3.96 | 4.79 | 5.15 | 4.75 |
| Amortization | - | 5.28 | 3.76 | 2.63 | 1.57 |
| Amortization Of Intangibles Income Statement | - | 5.28 | 3.76 | 2.63 | 1.57 |
| Occupancy And Equipment | - | 52.02 | 47.89 | 48.77 | 48.72 |
| Professional Expense And Contract Services Expense | - | 14 | 9.83 | 7.86 | 9.49 |
| Other Non Interest Expense | - | 55.44 | 56.89 | 59.52 | 65.50 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Banner Corporationthis co. | BANR | $2.2B | 11.23↓ discount | 1.13 | 10.0% | - |
| First Bancorp | FBNC | $2.5B | 22.27 | 1.49 | 6.7% | - |
| NBT Bancorp Inc. | NBTB | $2.4B | 14.27 | 1.27 | 8.9% | - |
| The Western Union Company | WU | $2.4B | 4.82 | 2.52 | 52.2% | 4.15 |
| Beacon Financial Corporation | BBT | $2.4B | 26.55 |
| - |
| - |
| - |
| - |
| - |
| 0.96 |
| 3.6% |
| - |
| The Bancorp, Inc. | TBBK | $2.2B | 9.77 | 3.23 | 33.1% | - |
| Merchants Bancorp | MBIN | $2.2B | 10.02 | 1.27 | 12.6% | - |
| Hilltop Holdings Inc. | HTH | $2.2B | 13.12 | 1.00 | 7.6% | - |
| Stewart Information Services Corporation | STC | $1.9B | 16.70 | 1.18 | 7.0% | - |
| Peer Median | - | 13.70 | 1.27 | 8.3% | 4.15 | |