NASDAQ$BANR

Banner Corporation · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Banner's net income remained virtually unchanged and revenues increased, driven by core deposit growth and SBA PPP loan forgiveness.

Banner Corporation reported a net income of $49.9 million, or $1.44 per diluted share, for Q4 2021. Revenues increased by 1% compared to Q4 2020, driven by core deposit growth and an acceleration of SBA PPP loan fee income due to loan forgiveness.

  • Revenues increased 1% to $146.0 million.
  • Net interest income increased to $121.5 million.
  • Mortgage banking revenues decreased 41% to $5.6 million.
  • Non-performing assets decreased to $23.7 million, or 0.14% of total assets.

Headline financials

Total Revenue

$146M

Previous: $145M+0.7%
EPS (adj)

$1.47

Previous: $1.08+36.1%
Net Interest Margin

3.2%

Previous: 3.6%-11.2%
Return on Avg Assets

1.2%

Previous: 1.0%+13.5%
Efficiency Ratio

62.9%

Previous: 66.8%-5.8%
Capital Expenditures

$4.14M

Previous: $2.87M+44.3%
Free Cash Flow

-$32.3M

Previous: -$15.6M-106.4%
Net Income

$49.9M

Previous: $39M+27.9%
Operating Income

$59.4M

Previous: $48.8M+21.8%
Cash & Equivalents

$2.13B

Previous: $1.23B+72.9%
Total Assets

$16.8B

Previous: $15B+11.8%
Stock-Based Comp

$2.25M

Previous: $2.28M-1.3%

Revenue & EPS history

Banner · Revenue · Quarterly

$146M

Q4 2021+0.7%vs Q4 2020
Beat estimate in 7 of 16 quarters(44%)
ActualEstimate

Revenue by segment

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

  • Mortgage banking
    $2.05M

Forward guidance

Banner Forward is focused on accelerating growth in commercial banking, deepening relationships with retail clients, and advancing technology strategies to enhance our digital service channels, while streamlining underwriting and back office processes. Full implementation is expected by 2023, with the goal of delivering sequential improvements in operating performance over the course of the next six quarters while staying true to our mission and value proposition of being connected, knowledgeable and responsive to our clients, communities and employees.

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 Q4 2021

Historical avgQ4 2021

+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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