Recap: Banner Q2 Earnings

Shares of Banner BANR were flat in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 132.84% year over year to $1.56, which beat the estimate of $1.11.

Revenue of $149,890,000 rose by 1.76% year over year, which beat the estimate of $122,620,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Price Action

52-week high: $60.42

Company's 52-week low was at $30.05

Price action over last quarter: down 5.01%

Company Profile

Banner Corp is a bank holding company. It is primarily engaged in coordinating the business activities of its wholly owned subsidiaries, Banner Bank and Islanders Bank. Banner Bank operates scores of branches, primarily in the Pacific Northwest region of the United States. Both banks offer similar traditional community banking services and financial products to individuals, businesses, and public entities. Banner Bank also actively participates in the secondary mortgage market. The company's strategy emphasizes growth through acquisitions and brand awareness of its banks. A significant portion of the banks' portfolio is in residential construction and land loans to professional homebuilders and developers. Most of its revenue is net interest income.