Revenue: As of FY2025, the actual value is USD 660.73 M.EPS: As of FY2025, the actual value is USD 5.64, beating the estimate of USD 5.6017.EBIT: As of FY2025, the actual value is USD -349.01 M.<h4>Overall Financial Performance</h4>Banner Corporation’s revenues increased to $660.7 million for the year ended December 31, 2025, up from $608.6 million in the prior year. Adjusted revenue was $661.5 million in 2025, compared to $614.8 million in 2024. Net interest income rose to $587.9 million in 2025, from $541.7 million in 2024, primarily due to increased yields on loans, higher average loan balances, and decreased funding costs. The net interest margin on a tax equivalent basis was 3.96% for 2025, an increase of 21 basis points from 3.75% in 2024. The provision for credit losses was $13.0 million for 2025, an increase from $7.6 million in 2024. Net income for 2025 was $195.4 million, compared to $168.9 million in 2024. Total non-interest expense increased to $408.8 million in 2025, from $391.5 million in 2024, driven by higher salary and employee benefits, information and computer data services, payment and card processing services, and professional and legal expenses. The GAAP efficiency ratio improved to 61.87% in 2025, from 64.33% in 2024, while the adjusted efficiency ratio was 60.19% in 2025, compared to 62.29% in 2024.<h4>Lending Activities</h4>Net loans receivable increased 3% to $11.56 billion at December 31, 2025, from $11.20 billion at December 31, 2024.<h5>Loan Originations (excluding loans held for sale)</h5><ul><li>Commercial real estate originations were $508.2 million in 2025, up from $408.5 million in 2024.</li><li>Multifamily real estate originations were $29.4 million in 2025, compared to $6.6 million in 2024.</li><li>Construction, land and land development originations were $1,430.3 million in 2025, a decrease from $1,759.8 million in 2024.</li><li>Commercial business originations were $694.6 million in 2025, down from $752.3 million in 2024.</li><li>Agricultural business originations were $63.7 million in 2025, compared to $79.7 million in 2024.</li><li>One- to four-family residential originations were $24.7 million in 2025, a significant decrease from $106.1 million in 2024.</li><li>Consumer loan originations were $413.4 million in 2025, an increase from $356.5 million in 2024.<h5>Loan Portfolio Composition (December 31, 2025)</h5></li><li>Commercial real estate: $4.05 billion (35% of total loans), including owner-occupied at $1.14 billion, investment properties at $1.70 billion, and small balance CRE at $1.21 billion.</li><li>Multifamily real estate: $850.8 million (7% of total loans).</li><li>Construction, land and land development: $1.71 billion (15% of total loans), with $156.0 million in commercial construction, $514.3 million in multifamily construction, $607.4 million in one- to four-family construction, and $433.7 million in land and land development.</li><li>Commercial business: $2.41 billion (21% of total loans).</li><li>Agricultural business: $353.2 million (3% of total loans).</li><li>One- to four-family residential: $1.57 billion (13% of total loans).</li><li>Consumer: $768.5 million (6% of total loans), primarily home equity revolving lines of credit ($679.5 million).Banner Corporation was servicing $3.14 billion of loans for others at December 31, 2025, recognizing $8.1 million in loan servicing income in 2025, compared to $8.2 million in 2024.</li></ul><h4>Asset Quality</h4>Non-performing assets increased to $51.2 million, or 0.31% of total assets, at December 31, 2025, from $39.6 million, or 0.24% of total assets, at December 31, 2024. The allowance for credit losses - loans was $160.3 million, or 1.37% of total loans receivable, at December 31, 2025, compared to $155.5 million, or 1.37% of total loans receivable, a year prior. The allowance for credit losses - loans as a percent of non-performing loans was 351.18% at December 31, 2025, compared to 420.83% at December 31, 2024. Total nonaccrual loans were $41.5 million at December 31, 2025, with interest income reduced by $2.3 million in 2025 due to nonaccrual loan activity. Loans by grade at December 31, 2025, included $11.45 billion in Pass loans, $82.1 million in Special Mention loans, and $193.1 million in Substandard loans.<h4>Investment Activities</h4>The securities portfolio totaled $2.98 billion at December 31, 2025, a decrease of $128.6 million from December 31, 2024, primarily due to normal security portfolio cash flows. U.S. Government and agency obligations: $6.4 million carrying value in 2025 vs $7.9 million in 2024. Municipal bonds: $506.2 million carrying value in 2025 vs $438.1 million in 2024. Corporate bonds: $120.2 million carrying value in 2025 vs $124.9 million in 2024. Mortgage-backed or related securities: $2.12 billion carrying value in 2025 vs $2.24 billion in 2024. Asset-backed securities: $152.5 million carrying value in 2025 vs $170.8 million in 2024.<h4>Deposit Activities</h4>Total deposits increased $228.7 million, or 2%, to $13.74 billion at December 31, 2025, from $13.51 billion at December 31, 2024. Core deposits represented 89% of total deposits at December 31, 2025 and 2024. Non-interest-bearing checking decreased by $101.7 million, or 2%, to $4.49 billion in 2025. Interest-bearing checking increased by $215.2 million to $2.61 billion in 2025. Regular savings increased by $245.5 million to $3.72 billion in 2025. Money market decreased by $162.9 million to $1.39 billion in 2025. Certificates of deposit increased by $32.6 million, or 2%, to $1.53 billion in 2025.The loan-to-deposit ratio was 86% at December 31, 2025, up from 84.26% at December 31, 2024.<h4>Borrowings</h4>FHLB advances were $150.0 million at December 31, 2025, compared to $290.0 million at December 31, 2024. Other borrowings decreased $17.5 million to $107.7 million at December 31, 2025, from $125.3 million at December 31, 2024. Junior subordinated debentures increased to $79.2 million at December 31, 2025, compared to $67.5 million at December 31, 2024. Subordinated notes totaling $80.3 million at December 31, 2024, were fully repaid during the second quarter of 2025.<h4>Capital and Equity</h4>Total shareholders’ equity increased $172.0 million to $1.95 billion at December 31, 2025, compared to $1.77 billion at December 31, 2024. The common shareholders’ equity to total assets ratio was 11.90% at December 31, 2025, up from 10.95% at December 31, 2024. The tangible common shareholders’ equity to tangible assets ratio was 9.84% at December 31, 2025, compared to 8.84% at December 31, 2024. As of December 31, 2025, consolidated capital ratios were: total capital to risk-weighted assets at 14.69%, Tier 1 capital to risk-weighted assets at 13.44%, Tier 1 capital to average leverage assets at 11.41%, and Common equity tier I capital to risk-weighted assets at 12.81%. Banner Corporation and Banner Bank met the requirements to be “well capitalized” as of December 31, 2025.<h4>Operational Metrics</h4>Full-time equivalent employees were 1,943 in 2025, down from 1,956 in 2024. The number of branches remained constant at 135 in both 2025 and 2024. The voluntary employee turnover rate was 14.6% in 2025, with 337 new hires and an internal fill rate for open positions of 22% in the same year.<h4>Outlook / Guidance</h4>Banner Corporation’s longer-term strategic initiatives are focused on originating high-quality assets and client acquisition to generate strong revenue while maintaining a moderate risk profile. The company anticipates a continued shift in client service delivery channel preference towards mobile and digital banking and aims to provide digital tools to support client banking needs. Management’s projections indicate an expectation that cash dividends will continue for the foreseeable future.

Banner | 10-K: FY2025 Revenue: USD 660.73 M