WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Thursday reported fourth-quarter net income of $39 million.
On a per-share basis, the Walla Walla, Washington-based company said it had net income of $1.10. Earnings, adjusted for non-recurring gains, were $1.08 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share.
The regional bank posted revenue of $152.7 million in the period. Its adjusted revenue was $144.9 million, falling short of Street forecasts. Three analysts surveyed by Zacks expected $145.4 million.
For the year, the company reported profit of $115.9 million, or $3.26 per share. Revenue was reported as $579.9 million.
Banner shares have climbed 8% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $50.39, a decrease of almost 7% in the last 12 months.