Banner (BANR)
Market Price (10/21/2026): $68.68 | Market Cap: $2.3 BilSector: Financials | Industry: Regional Banks
Banner (BANR)
Market Price (10/21/2026): $68.68Market Cap: $2.3 BilSector: FinancialsIndustry: Regional Banks
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 12% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42% Low stock price volatilityVol 12M is 24% Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 28% Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. | Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -1.9% Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% | Key risksBANR key risks include [1] disappointing long-term revenue growth and credit risks from its concentration in commercial real estate loans, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 12%, Dividend Yield is 3.0%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 6.5%, FCF Yield is 12% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 44%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 42% |
| Low stock price volatilityVol 12M is 24% |
| Uninsured deposits are lowUninsured Deposits Ratio %Fraction of deposits that exceed the insurance deposit thresholds. For example, the FDIC protects deposits up to $250K. A high uninsured deposits ratio indicates large accounts and greater potential exposure to bank run risk. is 28% |
| Megatrend and thematic driversMegatrends include Fintech & Digital Payments. Themes include Digital Payments, Online Banking & Lending, and Wealth Management Technology. |
| Weak multi-year price returns2Y Excs Rtn is -20%, 3Y Excs Rtn is -1.9% |
| Moderate capital ratioTier 1 Capital / Risk Wtd Assets RatioTier 1 Capital / Risk-Weighted Assets is a common measure of financial strength for a bank. It reflects how much equity there is relative to assets where assets are weighted based on riskiness. Low ratios indicate the bank is highly vulnerable to even small changes in the value of their risk assets. is 12% |
| Key risksBANR key risks include [1] disappointing long-term revenue growth and credit risks from its concentration in commercial real estate loans, Show more. |
Qualitative Assessment
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Banner (BANR) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Banner's fiscal Q2 2026 earnings miss and rising cost pressures weighed on investor sentiment. Banner reported its fiscal Q2 2026 earnings (for the period ending June 30, 2026) on July 22, 2026, with an earnings per share (EPS) of $1.44, missing analysts' consensus estimates of $1.46 by $0.02. Quarterly revenue of $172.11 million also fell short of expectations of $174.54 million. This was further exacerbated by a climbing cost-to-income ratio of 61.3% and a $51 million decline in deposits, necessitating a $319 million rise in Federal Home Loan Bank (FHLB) borrowings to support loan growth, signaling concerns about profitability to investors.
2. The strategic acquisition of Pacific Financial Corporation created a "wait-and-see" approach among investors. Banner completed the acquisition of Pacific Financial Corporation on September 1, 2026. While potentially beneficial for long-term growth and market expansion, such corporate actions often introduce near-term integration uncertainties, prompting investors to adopt a cautious stance and await clear operational synergies before making significant directional moves with the stock.
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Banner (BANR) stock has gained about 5% since 6/30/2026 because of the following key factors:
1. Banner's fiscal Q2 2026 earnings miss and rising cost pressures weighed on investor sentiment. Banner reported its fiscal Q2 2026 earnings (for the period ending June 30, 2026) on July 22, 2026, with an earnings per share (EPS) of $1.44, missing analysts' consensus estimates of $1.46 by $0.02. Quarterly revenue of $172.11 million also fell short of expectations of $174.54 million. This was further exacerbated by a climbing cost-to-income ratio of 61.3% and a $51 million decline in deposits, necessitating a $319 million rise in Federal Home Loan Bank (FHLB) borrowings to support loan growth, signaling concerns about profitability to investors.
2. The strategic acquisition of Pacific Financial Corporation created a "wait-and-see" approach among investors. Banner completed the acquisition of Pacific Financial Corporation on September 1, 2026. While potentially beneficial for long-term growth and market expansion, such corporate actions often introduce near-term integration uncertainties, prompting investors to adopt a cautious stance and await clear operational synergies before making significant directional moves with the stock.
3. The announcement of a stock repurchase program and positive industry recognition provided underlying support. On August 3, 2026, Banner announced a stock repurchase program, a move typically interpreted as a sign of management's confidence in the company's valuation and a commitment to returning capital to shareholders, which helped mitigate downward pressure. During fiscal Q3 2026, Banner also received positive recognition, including being named one of the top 50 best-performing U.S. public banks for 2025 by S&P Global Market Intelligence and the #1 Bank in California by Forbes, reinforcing perceptions of its underlying financial health.
4. Persistent caution and underperformance in the broader regional banking sector limited upside potential. The regional banking sector, despite showing earnings growth, continued to trade at cheaper valuations relative to the broader market, reflecting a general disconnect between fundamentals and investor perception. For example, in 2025, the regional bank index rose only 3.5%, significantly trailing the S&P 500 Index's 16% jump, indicating a prevailing cautious sentiment that acted as a headwind for individual regional bank stocks like Banner.
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Stock Movement Drivers
Fundamental Drivers
The 3.4% change in BANR stock from 6/30/2026 to 10/20/2026 was primarily driven by a 1.6% change in the company's P/E Multiple.| (LTM values as of) | 6302026 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 65.95 | 68.17 | 3.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 663 | 673 | 1.5% |
| Net Income Margin (%) | 30.9% | 30.9% | 0.2% |
| P/E Multiple | 11.0 | 11.1 | 1.6% |
| Shares Outstanding (Mil) | 34 | 34 | 0.1% |
| Cumulative Contribution | 3.4% |
Market Drivers
6/30/2026 to 10/20/2026| Return | Correlation | |
|---|---|---|
| BANR | 3.4% | |
| Market (SPY) | 3.0% | 24.2% |
| Sector (XLF) | 3.9% | 54.9% |
Fundamental Drivers
The 14.1% change in BANR stock from 3/31/2026 to 10/20/2026 was primarily driven by a 6.4% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 59.75 | 68.17 | 14.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 654 | 673 | 2.9% |
| Net Income Margin (%) | 29.9% | 30.9% | 3.6% |
| P/E Multiple | 10.5 | 11.1 | 6.4% |
| Shares Outstanding (Mil) | 34 | 34 | 0.6% |
| Cumulative Contribution | 14.1% |
Market Drivers
3/31/2026 to 10/20/2026| Return | Correlation | |
|---|---|---|
| BANR | 14.1% | |
| Market (SPY) | 18.6% | 13.0% |
| Sector (XLF) | 13.3% | 45.3% |
Fundamental Drivers
The 7.4% change in BANR stock from 9/30/2025 to 10/20/2026 was primarily driven by a 7.1% change in the company's Net Income Margin (%).| (LTM values as of) | 9302025 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 63.46 | 68.17 | 7.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 631 | 673 | 6.8% |
| Net Income Margin (%) | 28.9% | 30.9% | 7.1% |
| P/E Multiple | 12.1 | 11.1 | -7.7% |
| Shares Outstanding (Mil) | 35 | 34 | 1.8% |
| Cumulative Contribution | 7.4% |
Market Drivers
9/30/2025 to 10/20/2026| Return | Correlation | |
|---|---|---|
| BANR | 7.4% | |
| Market (SPY) | 16.4% | 22.2% |
| Sector (XLF) | 4.7% | 51.7% |
Fundamental Drivers
The 78.4% change in BANR stock from 9/30/2023 to 10/20/2026 was primarily driven by a 68.3% change in the company's P/E Multiple.| (LTM values as of) | 9302023 | 10202026 | Change |
|---|---|---|---|
| Stock Price ($) | 38.21 | 68.17 | 78.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 647 | 673 | 4.1% |
| Net Income Margin (%) | 30.7% | 30.9% | 0.7% |
| P/E Multiple | 6.6 | 11.1 | 68.3% |
| Shares Outstanding (Mil) | 34 | 34 | 1.1% |
| Cumulative Contribution | 78.4% |
Market Drivers
9/30/2023 to 10/20/2026| Return | Correlation | |
|---|---|---|
| BANR | 78.4% | |
| Market (SPY) | 86.1% | 42.4% |
| Sector (XLF) | 75.4% | 61.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BANR Return | 34% | 7% | -12% | 29% | -3% | 9% | 74% |
| Peers Return | 29% | 8% | 17% | 7% | 2% | 23% | 118% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 12% | 104% |
Monthly Win Rates [3] | |||||||
| BANR Win Rate | 58% | 33% | 42% | 58% | 42% | 50% | |
| Peers Win Rate | 58% | 60% | 48% | 48% | 56% | 57% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| BANR Max Drawdown | -17% | -19% | -39% | -19% | -21% | -11% | |
| Peers Max Drawdown | -22% | -21% | -41% | -23% | -25% | -16% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NEWT, ATLO, CLBK, GCBC, MBBC.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 10/20/2026 (YTD)
How Low Can It Go
| Event | BANR | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -18.7% | -18.8% |
| % Gain to Breakeven | 23.0% | 23.1% |
| Time to Breakeven | 94 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.2% | -6.7% |
| % Gain to Breakeven | 49.8% | 7.1% |
| Time to Breakeven | 441 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -12.9% | -24.5% |
| % Gain to Breakeven | 14.8% | 32.4% |
| Time to Breakeven | 41 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.4% | -33.7% |
| % Gain to Breakeven | 93.6% | 50.9% |
| Time to Breakeven | 290 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -16.5% | -19.2% |
| % Gain to Breakeven | 19.7% | 23.8% |
| Time to Breakeven | 57 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.1% | -12.2% |
| % Gain to Breakeven | 30.1% | 13.9% |
| Time to Breakeven | 273 days | 62 days |
In The Past
Banner's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 23.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
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| Event | BANR | S&P 500 |
|---|---|---|
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -33.2% | -6.7% |
| % Gain to Breakeven | 49.8% | 7.1% |
| Time to Breakeven | 441 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -48.4% | -33.7% |
| % Gain to Breakeven | 93.6% | 50.9% |
| Time to Breakeven | 290 days | 140 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -23.1% | -12.2% |
| % Gain to Breakeven | 30.1% | 13.9% |
| Time to Breakeven | 273 days | 62 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -34.5% | -17.9% |
| % Gain to Breakeven | 52.7% | 21.8% |
| Time to Breakeven | 114 days | 123 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -68.4% | -15.4% |
| % Gain to Breakeven | 216.7% | 18.2% |
| Time to Breakeven | 1226 days | 125 days |
In The Past
Banner's stock fell -18.7% during the 2025 US Tariff Shock. Such a loss loss requires a 23.0% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Banner (BANR)
Banner Corporation (NYSE: BANR) operates as the holding company for Banner Bank, providing a full suite of commercial banking and financial services. Headquartered in Walla Walla, Washington, the company functions as a regional bank, catering to the financial needs of individuals, businesses, and public sector entities across the Western United States. Its core business revolves around traditional banking functions, accepting deposits and originating various types of loans.
The company's primary products and services include a comprehensive array of deposit accounts such as interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, alongside treasury management services and retirement savings plans. On the lending side, Banner Bank offers a broad portfolio including commercial real estate loans (owner-occupied, investment properties, and multifamily residential), construction, land, and land development loans, residential mortgage loans, commercial business loans, and agricultural loans. It also provides consumer loans, such as home equity lines of credit, automobile, and recreational vehicle loans, and engages in mortgage banking through the origination and sale of residential and small business administration loans.
Banner Corporation's customer base spans individuals, various types of businesses, and public sector entities. The company has a significant presence with 150 branch offices and 18 loan production offices located in Washington, Oregon, California, Idaho, and Utah, facilitating its delivery of electronic and digital banking services in these key regional markets.
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A regional version of a full-service bank like Wells Fargo, operating across Washington, Oregon, California, Idaho, and Utah.
Think of it as a smaller U.S. Bank, providing traditional banking and mortgage services to individuals and businesses in several Western states.
It's a comprehensive regional bank, akin to a local-focused Bank of America for communities in Washington, Oregon, California, Idaho, and Utah.
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- Deposit Accounts: Provides various checking, savings, money market, and certificate of deposit accounts for individuals and businesses.
- Commercial Real Estate Loans: Offers financing for owner-occupied, investment, multifamily residential properties, and construction and land development.
- Residential Mortgage Loans: Originates and sells loans for one-to four-family and multi-family residential properties.
- Commercial Business Loans: Provides loans to businesses for their operational, growth, and investment needs.
- Consumer Loans: Offers personal loans such as home equity lines of credit, auto, and recreational vehicle loans.
- Treasury Management Services: Delivers services to help businesses manage their cash flow, payments, and liquidity.
- Retirement Savings Plans: Offers plans designed to help individuals save for their retirement.
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Banner Corporation, through its subsidiary Banner Bank, serves a diverse customer base. Its major customer categories include:
- Individuals: The bank provides a wide range of financial products and services to individual consumers. This includes various deposit instruments (interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit), as well as residential mortgage loans, home equity lines of credit, and other consumer loans (such as automobile, boat, and recreational vehicle loans).
- Businesses: Banner Bank offers comprehensive commercial banking services to businesses. These services encompass commercial real estate loans (including owner-occupied, investment properties, and multifamily residential real estate loans), construction, land, and land development loans, commercial business loans, agricultural loans, treasury management services, retirement savings plans, and small business administration loans.
- Public Sector Entities: The company also provides financial products and services tailored to public sector entities. These typically involve deposit services, treasury management solutions, and various lending options designed for governmental or public organizations.
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Mark J. Grescovich - President and Chief Executive Officer
Mr. Grescovich joined Banner as President in April 2010 and became Chief Executive Officer in August 2010. Before his time at Banner, he served as Executive Vice President and Chief Corporate Banking Officer for FirstMerit Corporation and FirstMerit Bank N.A. from 2007 to 2010, after holding various commercial and corporate banking positions, including Chief Credit Officer, since 1994. Earlier in his career, he was a Managing Partner in corporate finance with Sequoia Financial Group, Inc., and a commercial and corporate lending officer and credit analyst with Society National Bank of Cleveland, Ohio.
Robert G. Butterfield - Executive Vice President, Chief Financial Officer, and Treasurer
Mr. Butterfield was promoted to Executive Vice President and CFO of Banner Bank and Banner Corporation in 2023. He initially joined Banner in 2015 as Senior Vice President and Chief Accounting Officer. Prior to Banner, he held positions as Senior Vice President, Controller, and Principal Accounting Officer at Sterling Savings Bank, and subsequently as Controller at Umpqua Bank following an acquisition. A Certified Public Accountant, Mr. Butterfield began his career as an auditor with BDO USA, LLP and possesses over 25 years of financial expertise, with more than 20 years in the financial services industry.
Sherrey Luetjen - Executive Vice President, General Counsel, Ethics Officer and Secretary
Ms. Luetjen was promoted to her current position in 2021. Before this role, she served as Senior Vice President and Assistant General Counsel at Banner. She brings over 15 years of in-house legal counsel experience from financial services companies, in addition to her experience advising technology companies.
Mark Borrecco - Executive Vice President, Chief Banking Officer
Mr. Borrecco joined Banner in 2024 as the senior executive responsible for overseeing the Bank's production lines of business. He has more than 25 years of banking experience, including roles in sales management and executive leadership. His previous experience includes serving as the California president of a large regional bank and holding various leadership positions in regional and community banks.
James M. Costa - Executive Vice President and Chief Operating Officer
Mr. Costa serves as the Executive Vice President and Chief Operating Officer for Banner Corporation. No further detailed background information on his prior company management or private equity involvement was readily available.
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Here are the key risks to Banner Corporation's business:
- Interest Rate Risk: As a commercial bank, Banner Corporation's profitability is highly sensitive to fluctuations in interest rates. Changes in interest rates directly impact the bank's net interest income, which is the difference between interest earned on assets (like loans) and interest paid on liabilities (like deposits). Both prolonged high interest rates, which can increase deposit funding costs and compress net interest margins, and sudden interest rate cuts, which can lead to "margin whiplash" as asset yields reprice, pose significant threats to earnings and capital.
- Commercial Real Estate (CRE) Concentration Risk: Banner Corporation has a substantial portion of its loan portfolio concentrated in commercial real estate, including owner-occupied, investment properties, multifamily residential, and construction, land, and land development loans. Regional banks, in general, are noted to have significant exposure to the CRE market. A downturn in the commercial real estate market, particularly in sectors like office properties due to changing work patterns (hybrid/remote work), could lead to increased loan defaults, higher non-performing assets, and potential losses on these loans.
- General Credit Risk and Economic Downturn: Beyond specific real estate exposures, Banner Corporation faces inherent credit risk across its diverse loan portfolio, which also includes residential mortgage, commercial business, agricultural, and consumer loans. An economic downturn or recession in its operating regions (Washington, Oregon, California, Idaho, and Utah) could lead to a general weakening of credit quality, reduced borrower capacity to repay debts, and a subsequent increase in loan delinquencies and charge-offs. This would necessitate higher provisions for credit losses, directly impacting the bank's financial performance.
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Deposits
As of December 31, 2021, the total deposits held by FDIC-insured institutions in Banner Corporation's operating states were substantial:- California: Approximately $1.71 trillion.
- Washington: Approximately $384.8 billion.
- Oregon: Approximately $159.2 billion.
- Utah: Approximately $122.5 billion.
- Idaho: Approximately $56.9 billion.
Residential Mortgage Originations
For 2021, the dollar volume of residential mortgage originations across Banner Corporation's primary operating states, based on Home Mortgage Disclosure Act (HMDA) data, reached significant levels:- California: Approximately $743.7 billion.
- Washington: Approximately $133.0 billion.
- Oregon: Approximately $67.4 billion.
- Utah: Approximately $49.4 billion.
- Idaho: Approximately $31.8 billion.
Commercial Real Estate (CRE) Loans (Outstanding)
The total outstanding commercial real estate (CRE) loans held by FDIC-insured institutions in the U.S. amounted to approximately $2.7 trillion in 2021. This national figure indicates the overall market size for such loans across the country. State-specific outstanding balances for commercial real estate loans for 2021 are not readily available in public summaries.Commercial Business (C&I) Loans (Outstanding)
As of December 31, 2021, the total outstanding Commercial and Industrial (C&I) loans for all commercial banks in the United States were approximately $2.309 trillion. This national market size represents the aggregate business lending activity by commercial banks. State-specific breakdowns for C&I loans were not readily available in public summaries for 2021.Consumer Loans (Outstanding)
In the fourth quarter of 2021, the aggregate amount of consumer loans held by all commercial banks in the United States was approximately $1.9 trillion. This national market size encompasses various consumer credit products, including auto loans, credit cards, and other personal loans. State-specific data for total consumer loans outstanding for 2021 are not readily available in public summaries.AI Analysis | Feedback
Banner Corporation (BANR) is expected to drive future revenue growth over the next 2-3 years through several key initiatives and market advantages:
- Loan Growth: Banner anticipates continued expansion of its loan portfolio. The company reported a 5% annualized loan growth for 2025 and projects mid-single-digit growth in its loan book for 2026. Specific areas of strength include commercial real estate, with investor CRE increasing by 5% and owner-occupied CRE by 11% year-over-year.
- Strong Net Interest Margin and Core Deposit Base: The company continues to benefit from a robust core deposit base and a favorable net interest margin. In Q4 2025, net interest income increased sequentially due to a 5 basis point rise in net interest margin, reaching a tax-equivalent net interest margin of 4.03%. This strong funding position contributes significantly to overall revenue.
- "Super Community Bank" Strategy: Banner's "super community bank" strategy is central to its growth, emphasizing the cultivation of strong client relationships and the maintenance of a solid funding base. This approach aims to bolster its market position and drive sustainable growth by offering broad product offerings and localized decision-making.
- Strategic Market Positioning: Banner strategically operates in high-growth markets across the Pacific Northwest and California. These regions exhibit population growth forecasts exceeding national averages, particularly in areas like Idaho, which is projected to see a 20% growth from 2020 to 2030. This geographic advantage in markets with major technology, manufacturing, consumer, and logistics companies provides a solid foundation for future expansion.
- Growth in Non-Interest Income: While facing some headwinds in mortgage banking due to rising interest rates, Banner has demonstrated growth in other non-interest income streams. Non-interest income rose by 16.8% quarter-over-quarter in Q3 2025, surpassing projections. This diversification of revenue beyond traditional lending is expected to contribute to overall growth.
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Share Repurchases
- On July 24, 2025, Banner Corporation's Board of Directors authorized the repurchase of up to 1,729,199 shares of its common stock, representing approximately 5% of its outstanding shares.
- During the year ended December 31, 2025, the company repurchased 499,975 shares of common stock, totaling approximately US$31.49 million.
Capital Expenditures
- Banner Corporation's 2025 annual report details extensive human capital and technology investments.
Peer Outperformance in Regional Banks
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| BANR | Banner | 1.6% | 11.1x | 12.0% | 85.3% | 39.4% | — |
| OFG | OFG Bancorp | 4.5% | 10.2x | 28.5% | 100.4% | 144.1% | +105pp |
| FBP | First BanCorp | 2.9% | 11.4x | 34.8% | 133.5% | 138.9% | +100pp |
| BPOP | Popular | 2.8% | 10.6x | 38.9% | 187.6% | 126.2% | +87pp |
| FNB | F N B | 4.3% | 10.4x | 17.4% | 81.8% | 71.4% | +32pp |
| CATY | Cathay General Bancorp | 2.0% | 11.7x | 32.6% | 99.2% | 66.7% | +27pp |
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Reinsurance | 6 | 29.0% | 73.5% | 119.6% | SPNT 175% · RNR 149% · RGA 146% |
| Diversified Banks | 12 | 28.1% | 143.6% | 87.2% | CM 137% · JPM 122% · RY 122% |
| Life & Health Insurance | 20 | 12.4% | 61.6% | 81.1% | JXN 472% · UNM 280% · MFC 177% |
| Investment Banking & Brokerage | 13 | -12.0% | 102.4% | 68.8% | IBKR 354% · SNEX 177% · GS 145% |
| Property & Casualty Insurance | 42 | 14.2% | 80.2% | 66.6% | TRV 174% · PGR 162% · ACGL 150% |
| Multi-line Insurance | 9 | 8.3% | 66.9% | 59.7% | GNW 99% · L 95% · AIZ 87% |
| Multi-Sector Holdings | 3 | 6.4% | 55.8% | 52.3% | BRK-B 88% · VOYA 52% · JEF 31% |
| Regional Banks ← | 264 | 29.4% | 97.9% | 49.9% | CBC 230% · FCNCA 153% · OFG 144% |
| Financial Exchanges & Data | 15 | 8.1% | 35.0% | 30.1% | CBOE 165% · VIRT 158% · CME 70% |
| Consumer Finance | 30 | 2.5% | 86.6% | 21.1% | ENVA 397% · EZPW 320% · FCFS 154% |
| Insurance Brokers | 15 | -6.1% | 7.9% | 18.3% | LIFE 375% · ARX 88% · AJG 68% |
| Diversified Financial Services | 4 | -2.6% | 23.6% | 6.4% | FRHC 161% · EQH 81% |
| Asset Management & Custody Banks | 84 | -13.0% | 22.7% | 3.3% | WT 293% · AAMI 257% · VCTR 245% |
| Commercial & Residential Mortgage Finance | 15 | -53.5% | 34.8% | -4.5% | FNMA 333% · FMCC 289% · ACT 154% |
| Specialized Finance | 3 | 8.8% | 36.6% | -13.5% | CACC -13% · HASI -23% |
| Mortgage REITs | 34 | -21.0% | -3.0% | -34.3% | RITM 26% · DX 17% · AGNC 7% |
| Transaction & Payment Processing Services | 17 | 2.1% | 8.2% | -35.9% | V 82% · MA 79% · CPAY 49% |
| Diversified Capital Markets | 20 | -48.9% | 12.8% | -62.8% | LPLA 89% · TW 45% · RIOT -56% |
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|---|---|
| Name | |
| Mkt Price | 23.56 |
| Mkt Cap | 0.6 |
| Rev LTM | 277 |
| Op Inc LTM | - |
| FCF LTM | 42 |
| FCF 3Y Avg | 31 |
| CFO LTM | 42 |
| CFO 3Y Avg | 32 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 21.3% |
| Rev Chg 3Y Avg | 8.1% |
| Rev Chg Q | 15.5% |
| QoQ Delta Rev Chg LTM | 3.7% |
| Op Inc Chg LTM | - |
| Op Inc Chg 3Y Avg | - |
| Op Mgn LTM | - |
| Op Mgn 3Y Avg | - |
| QoQ Delta Op Mgn LTM | - |
| CFO/Rev LTM | 30.3% |
| CFO/Rev 3Y Avg | 30.2% |
| FCF/Rev LTM | 28.9% |
| FCF/Rev 3Y Avg | 27.9% |
Price Behavior
| Market Price | $68.17 | |
| Market Cap ($ Bil) | 2.3 | |
| First Trading Date | 11/01/1995 | |
| Distance from 52W High | -7.9% | |
| 50 Days | 200 Days | |
| DMA Price | $69.65 | $65.30 |
| DMA Trend | indeterminate | up |
| Distance from DMA | -2.1% | 4.4% |
| 3M | 1YR | |
| Volatility | 17.0% | 23.6% |
| Downside Capture | 59.70 | 43.64 |
| Upside Capture | 39.85 | 50.74 |
| Correlation (S&P 500) | 27.1% | 21.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.49 | 0.52 | 0.48 | 0.25 | 0.42 | 0.82 |
| Up Beta | -2.42 | 0.63 | 0.10 | 0.11 | 0.45 | 0.81 |
| Down Beta | 1.23 | 1.08 | 0.60 | 0.13 | 0.51 | 0.87 |
| Up Capture | 50% | 25% | 57% | 35% | 28% | 58% |
| Bmk +ve Days | 6 | 16 | 27 | 66 | 132 | 424 |
| Stock +ve Days | 10 | 21 | 33 | 68 | 131 | 371 |
| Down Capture | 122% | 76% | 59% | 27% | 47% | 92% |
| Bmk -ve Days | 16 | 26 | 37 | 60 | 120 | 328 |
| Stock -ve Days | 12 | 21 | 31 | 58 | 120 | 376 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BANR | |
|---|---|---|---|---|
| BANR | 14.0% | 23.6% | 0.48 | - |
| Sector ETF (XLF) | 8.1% | 14.5% | 0.31 | 51.7% |
| Equity (SPY) | 16.8% | 12.7% | 0.93 | 21.3% |
| Gold (GLD) | -2.9% | 29.3% | -0.10 | 3.7% |
| Commodities (DBC) | 52.5% | 20.7% | 1.93 | -15.0% |
| Real Estate (VNQ) | 5.1% | 13.8% | 0.11 | 39.0% |
| Bitcoin (BTCUSD) | -23.7% | 43.6% | -0.50 | 6.4% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BANR | |
|---|---|---|---|---|
| BANR | 7.1% | 30.2% | 0.25 | - |
| Sector ETF (XLF) | 9.5% | 18.3% | 0.38 | 64.4% |
| Equity (SPY) | 13.6% | 17.1% | 0.61 | 47.2% |
| Gold (GLD) | 18.1% | 18.9% | 0.77 | -0.6% |
| Commodities (DBC) | 9.7% | 19.5% | 0.38 | 4.9% |
| Real Estate (VNQ) | 1.4% | 18.9% | -0.03 | 47.8% |
| Bitcoin (BTCUSD) | 7.7% | 51.7% | 0.33 | 19.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BANR | |
|---|---|---|---|---|
| BANR | 8.0% | 35.1% | 0.31 | - |
| Sector ETF (XLF) | 13.0% | 22.1% | 0.53 | 74.1% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 55.7% |
| Gold (GLD) | 12.1% | 16.4% | 0.60 | -3.9% |
| Commodities (DBC) | 8.2% | 18.1% | 0.37 | 16.4% |
| Real Estate (VNQ) | 5.2% | 20.7% | 0.21 | 53.3% |
| Bitcoin (BTCUSD) | 62.9% | 66.2% | 1.03 | 13.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/24/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -1.1% | 0.5% | 3.7% |
| 4/22/2026 | 6.6% | 4.2% | 2.4% |
| 1/21/2026 | 0.2% | -7.8% | -1.8% |
| 10/15/2025 | -0.3% | 1.6% | -1.0% |
| 7/16/2025 | 0.6% | -2.2% | -1.2% |
| 4/16/2025 | 1.4% | 4.3% | 9.4% |
| 1/22/2025 | 0.1% | 0.5% | -3.5% |
| 10/16/2024 | 3.1% | -1.0% | 12.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 15 |
| # Negative | 10 | 13 | 9 |
| Median Positive | 1.5% | 3.0% | 6.2% |
| Median Negative | -1.1% | -3.8% | -5.8% |
| Max Positive | 6.6% | 7.0% | 12.3% |
| Max Negative | -7.5% | -8.0% | -10.4% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/22/2026 | -1.1% | 0.5% | 3.7% |
| 4/22/2026 | 6.6% | 4.2% | 2.4% |
| 1/21/2026 | 0.2% | -7.8% | -1.8% |
| 10/15/2025 | -0.3% | 1.6% | -1.0% |
| 7/16/2025 | 0.6% | -2.2% | -1.2% |
| 4/16/2025 | 1.4% | 4.3% | 9.4% |
| 1/22/2025 | 0.1% | 0.5% | -3.5% |
| 10/16/2024 | 3.1% | -1.0% | 12.3% |
| 7/17/2024 | -1.3% | -1.3% | -6.8% |
| 4/17/2024 | 1.3% | 7.0% | 9.1% |
| 1/18/2024 | -1.0% | -2.1% | -7.3% |
| 10/18/2023 | 1.6% | -5.0% | 7.7% |
| 7/19/2023 | -7.5% | -3.8% | -8.8% |
| 4/19/2023 | -2.0% | -7.2% | -10.4% |
| 1/19/2023 | 5.1% | 2.7% | 5.6% |
| 10/19/2022 | 0.8% | 5.2% | 3.6% |
| 7/21/2022 | -1.6% | 3.0% | 8.7% |
| 4/20/2022 | -0.8% | -5.6% | -5.8% |
| 1/21/2022 | 3.8% | -1.3% | 0.5% |
| 10/21/2021 | 2.0% | -2.8% | 3.5% |
| 7/22/2021 | -0.7% | 1.4% | 6.2% |
| 4/21/2021 | -0.3% | 5.3% | 6.7% |
| 1/21/2021 | 2.9% | -8.0% | 5.8% |
| 10/22/2020 | 0.5% | -5.9% | 12.2% |
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 15 |
| # Negative | 10 | 13 | 9 |
| Median Positive | 1.5% | 3.0% | 6.2% |
| Median Negative | -1.1% | -3.8% | -5.8% |
| Max Positive | 6.6% | 7.0% | 12.3% |
| Max Negative | -7.5% | -8.0% | -10.4% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 08/04/2026 | 10-Q |
| 03/31/2026 | 05/05/2026 | 10-Q |
| 12/31/2025 | 02/25/2026 | 10-K |
| 09/30/2025 | 11/04/2025 | 10-Q |
| 06/30/2025 | 08/05/2025 | 10-Q |
| 03/31/2025 | 05/06/2025 | 10-Q |
| 12/31/2024 | 02/26/2025 | 10-K |
| 09/30/2024 | 11/05/2024 | 10-Q |
| 06/30/2024 | 08/06/2024 | 10-Q |
| 03/31/2024 | 05/07/2024 | 10-Q |
| 12/31/2023 | 02/23/2024 | 10-K |
| 09/30/2023 | 11/02/2023 | 10-Q |
| 06/30/2023 | 08/03/2023 | 10-Q |
| 03/31/2023 | 05/05/2023 | 10-Q |
| 12/31/2022 | 02/21/2023 | 10-K |
| 09/30/2022 | 11/03/2022 | 10-Q |
| 06/30/2022 | 08/04/2022 | 10-Q |
| 03/31/2022 | 05/09/2022 | 10-Q |
| 12/31/2021 | 02/24/2022 | 10-K |
| 09/30/2021 | 11/04/2021 | 10-Q |
| 06/30/2021 | 08/05/2021 | 10-Q |
| 03/31/2021 | 05/05/2021 | 10-Q |
| 12/31/2020 | 02/23/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/07/2020 | 10-Q |
| 12/31/2019 | 02/21/2020 | 10-K |
| 09/30/2019 | 11/01/2019 | 10-Q |
Investor Activity (13F)
Updated Oct 21, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager |
|---|
Industry Resources
| Financials Resources |
| Federal Reserve Economic Data |
| Federal Reserve |
| FDIC Data |
| American Banker |
| The Banker |
| Banking Technology |
| Regional Banks Resources |
| Bank Director |
| Independent Banker |
| S&P Global Market Intelligence |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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