NASDAQ$BANR

Banner Corporation · Q1 2023 earnings

Q1 2023 earnings · · Investor relations

Briefing

Reported net income of $55.6 Million, or $1.61 Per Diluted Share

Banner Corporation reported a net income of $55.6 million, or $1.61 per diluted share, for the first quarter of 2023. This represents a 2% increase compared to the preceding quarter and a 26% increase compared to the first quarter of 2022.

  • Revenues decreased 6% to $162.6 million compared to the preceding quarter, but increased 18% compared to the first quarter a year ago.
  • Net interest income decreased 4% to $153.3 million compared to the preceding quarter, but increased 29% compared to the first quarter a year ago.
  • Net interest margin was 4.30%, compared to 4.23% in the preceding quarter and 3.18% in the first quarter a year ago.
  • Non-performing assets increased to $27.1 million, or 0.17% of total assets.

Headline financials

Total Revenue

$153M

Previous: $119M+29.2%
EPS (adj)

$1.79

Previous: $1.33+34.6%
Net Interest Margin

4.3%

Previous: 3.2%+35.2%
Return on Avg Assets

1.4%

Previous: 1.1%+35.8%
Efficiency Ratio

58.2%

Previous: 66.0%-11.9%
Capital Expenditures

-$1.98M

Previous: -$3.31M+40.0%
Free Cash Flow

$53.6M

Previous: $40.7M+31.8%
Net Income

$55.6M

Previous: $44M+26.4%
Operating Income

$9.28M

Previous: $19.4M-52.2%
Gross Profit

$153M

Previous: $112M+36.8%
Cash & Equivalents

$243M

Previous: $1.99B-87.8%
Total Assets

$15.5B

Previous: $16.8B-7.4%
Stock-Based Comp

$2.05M

Previous: $2.08M-1.3%

Revenue & EPS history

Banner · Revenue · Quarterly

$153M

Q1 2023+29.2%vs Q1 2022
Beat estimate in 5 of 15 quarters(33%)
ActualEstimate

Revenue by segment

Banner · $2.05M total across 1 segment · Q3 2023

  • Mortgage banking
    $2.05M

Forward guidance

No specific forward guidance was provided in the document.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2023

Historical avgQ1 2023

+0.1%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+2.2%

Avg return

30 days after

55%

36 / 66 earnings

Positive

+11.5%

Q1 2020

Best reaction

-18.2%

Q2 2011

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.4%+5.9%+1.6%
Q4 2025+0.2%-7.1%-2.6%
Q3 2025-0.3%+0.7%-1.7%
Q2 2025-2.7%-2.1%+0.9%
Q1 2025+1.4%+2.7%+8.6%
Q4 2024+0.1%+1.2%-4.1%
Q3 2024+4.4%-0.6%+13.0%
Q2 2024+0.0%+1.1%-3.1%
Q1 2024+1.8%+5.2%+9.5%
Q4 2023-0.6%-0.9%-7.9%
Q3 2023-0.9%-6.6%+4.7%
Q2 2023-5.8%-7.1%-8.5%
Q1 2023-0.8%-4.6%-12.3%
Q4 2022+5.1%+3.3%+4.8%
Q3 2022-0.4%+0.4%+3.1%
Q2 2022+0.5%+1.0%+8.4%
Q1 2022+0.1%-1.4%-5.1%
Q4 2021-4.6%-1.9%-4.2%
Q3 2021+4.8%+6.3%+7.7%
Q2 2021+1.6%+3.1%+9.2%
Q1 2021+2.6%+7.5%+11.4%
Q4 2020+0.5%-5.0%-0.3%
Q3 2020+5.4%+6.0%+16.9%
Q2 2020+2.1%-2.8%-5.7%
Q1 2020+11.5%+12.1%+19.9%
Q4 2019-1.8%-3.3%-1.4%
Q3 2019-1.0%+1.5%-3.7%
Q2 2019+6.6%+7.3%-2.2%
Q1 2019-6.6%-2.9%-4.3%
Q4 2018-0.3%-3.3%+13.7%
Q3 2018+6.3%+6.8%+7.9%
Q2 2018+2.3%+1.3%+5.5%
Q1 2018+3.8%+3.7%+6.7%
Q4 2017-3.4%-5.1%-2.9%
Q3 2017-6.6%-9.0%-9.5%
Q2 2017+1.4%+0.4%-2.2%
Q1 2017+3.5%+0.7%-0.9%
Q4 2016+0.4%-2.2%+2.3%
Q3 2016-0.6%+0.3%+16.0%
Q2 2016-0.2%-3.2%+0.4%
Q1 2016-0.8%
Q4 2015-0.2%
Q3 2015-0.1%
Q2 2015+1.3%
Q1 2015-0.7%
Q4 2014+4.9%
Q3 2014+3.3%
Q2 2014+4.8%
Q1 2014+2.1%
Q4 2013-1.5%
Q3 2013+1.8%
Q2 2013-0.9%
Q1 2013+1.7%
Q1 2010+1.1%
Q4 2012-5.0%
Q3 2012-0.7%
Q2 2012-0.9%
Q1 2011+1.5%
Q1 2012+1.5%
Q4 2011+3.6%
Q4 2009+3.6%
Q4 2010+3.6%
Q3 2010-6.3%
Q3 2011-6.3%
Q2 2010-18.2%
Q2 2011-18.2%

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