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Get filing alertsBanner Corp reports Q2 2026 net income of $48.9M, declares $0.52 dividend
Filed July 22, 2026 · Period ending July 22, 2026 · ~1 min read
Key Changes
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Q2 2026 net income of $48.9M ($1.43/share), down from $54.7M ($1.60/share) in Q1 2026 but up from $45.5M ($1.31/share) in Q2 2025. Net interest margin expanded 2bp to 4.13% from 4.11% prior quarter.
Exhibit 99.1 view on EDGAR → -
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Loans grew $286M quarter-over-quarter (10% annualized) to $11.83B, driven by $1.26B in originations. Core deposits declined $59M quarter-over-quarter (2% annualized) but grew $267M year-over-year.
Exhibit 99.2 view on EDGAR → -
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Board declared quarterly cash dividend of $0.52/share, payable August 14, 2026 to shareholders of record August 4, 2026.
Item 8.01 verify on EDGAR → -
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Provision for credit losses of $3.8M (vs. $796K recapture in Q1 2026), primarily reflecting loan growth. Non-performing assets increased to $60.5M (0.36% of assets) from $51.7M (0.32%) prior quarter.
Exhibit 99.1 view on EDGAR → -
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Pending acquisition of Pacific Financial Corporation in all-stock transaction (0.2633 shares of Banner per Pacific Financial share), expected to close Q3 2026 subject to approvals.
Exhibit 99.1 view on EDGAR →
Summary
Banner Corp reported second quarter 2026 net income of $48.9 million, or $1.43 per diluted share, down 11% from the prior quarter but up 9% year-over-year. The sequential decline reflects normal quarterly variability, while the year-over-year improvement demonstrates the bank's ability to grow earnings through margin expansion and loan growth.
Net interest margin expanded 2 basis points to 4.13%, driven by higher yields on interest-earning assets and lower funding costs, positioning Banner in the top quartile among peers. Loan production was strong, with $1.26 billion in originations driving 10% annualized loan growth to $11.83 billion.
Core deposits declined modestly on a sequential basis but grew 2% year-over-year, reflecting the competitive deposit environment. The bank recorded a $3.8 million provision for credit losses, primarily to support loan growth, while non-performing assets remained low at 0.36% of total assets. The Board declared a $0.52 per share quarterly dividend, continuing the company's capital return program. Banner also disclosed a pending acquisition of Pacific Financial Corporation in an all-stock transaction expected to close in the third quarter, which will expand its presence in Western Washington and Oregon markets. The combination of solid earnings, strong loan growth, stable credit quality, and the pending acquisition positions Banner for continued franchise expansion.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Banner Corporation filed an investor presentation to be reviewed during its July 23, 2026 earnings call and in future investor presentations.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Banner Corporation intends to review the investor presentation attached as Exhibit 99.2 to this Current Report on Form 8-K in conjunction with its earnings release conference call on July 23, 2026, and from time to time in presentations to investors and other stakeholders.
The company disclosed an investor presentation that will be used during its upcoming earnings call on July 23, 2026, and in subsequent investor communications. This is a routine Regulation FD disclosure ensuring all investors have equal access to the presentation materials.
Event · Item 8.01 — Other Events
Item 8.01 — Other Events filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Banner Corporation announced its Board of Directors declared a regular quarterly cash dividend on Banner Corporation common stock of $0.52 per share, payable on August 14, 2026 to stockholders of record as of the close of business on August 4, 2026.
The Board declared a regular quarterly cash dividend of $0.52 per share. The dividend will be paid on August 14, 2026 to shareholders of record as of August 4, 2026. This represents the company's ongoing capital return to shareholders through regular quarterly distributions.
Event · Exhibit 99.1
Banner Corp reported Q2 2026 net income of $48.9M ($1.43/share), declared $0.52 dividend, and announced Pacific Financial acquisition.
Added in current filing · view on EDGAR →
Banner Corporation (NASDAQ GSM: BANR) (“Banner”), the parent company of Banner Bank, today reported net income of $48.9 million, or $1.43 per diluted share, for the second quarter of 2026, compared to $54.7 million, or $1.60 per diluted share, for the preceding quarter, and $45.5 million, or $1.31 per diluted share, for the second quarter of 2025. ... Banner announced that its Board of Directors declared a regular quarterly cash dividend of $0.52 per share payable August 14, 2026, to common shareholders of record on August 4, 2026.
Banner reported second quarter 2026 net income of $48.9 million, or $1.43 per diluted share, down from $1.60 per share in the prior quarter but up from $1.31 per share in the year-ago quarter. The Board declared a quarterly cash dividend of $0.52 per share, payable August 14, 2026.
Added in current filing · view on EDGAR →
Net interest income was $153.7 million for the second quarter of 2026, compared to $150.2 million in the preceding quarter and $144.4 million for the second quarter a year ago. ... Net interest margin, on a tax equivalent basis, was 4.13% for the current quarter, compared to 4.11% in the preceding quarter and 3.92% in the second quarter a year ago.
Net interest income increased to $153.7 million in Q2 2026 from $150.2 million in Q1 2026 and $144.4 million in Q2 2025. The net interest margin expanded to 4.13% from 4.11% in the prior quarter and 3.92% a year ago, driven by higher yields on interest-earning assets and lower funding costs.
Added in current filing · view on EDGAR →
Net loans receivable increased 2% to $11.83 billion at June 30, 2026, compared to $11.55 billion at March 31, 2026, and increased 3% from $11.53 billion at June 30, 2025. ... Loan originations were $1.26 billion for the second quarter of 2026, compared to $863.2 million in the preceding quarter and $966.6 million in the second quarter a year ago.
Net loans receivable grew 2% quarter-over-quarter to $11.83 billion and 3% year-over-year. Loan originations surged to $1.26 billion in Q2 2026, up from $863.2 million in Q1 2026 and $966.6 million in Q2 2025, reflecting strong loan production across multiple categories.
Added in current filing · view on EDGAR →
On April 30, 2026, Banner entered into a definitive merger agreement to acquire Pacific Financial Corporation (“Pacific Financial”), the holding company for Bank of the Pacific, in an all-stock transaction. Under the terms of the agreement, at the effective time of the merger, shareholders of Pacific Financial will receive 0.2633 shares of Banner common stock for each Pacific Financial common share they own. The transaction is expected to close in the third quarter of 2026 and is subject to closing conditions, including Pacific Financial shareholder and regulatory approvals.
Banner announced a definitive agreement to acquire Pacific Financial Corporation in an all-stock transaction, with Pacific Financial shareholders receiving 0.2633 shares of Banner common stock per share. The transaction is expected to close in Q3 2026, subject to shareholder and regulatory approvals, and will expand Banner's presence in Western Washington and Western Oregon markets.
Added in current filing · view on EDGAR →
Second quarter 2026 results included a $3.8 million provision for credit losses, compared to a $796,000 recapture of provision for credit losses in the preceding quarter and a $4.8 million provision for credit losses in the second quarter of 2025. ... Non-performing assets were $60.5 million, or 0.36% of total assets, at June 30, 2026, compared to $51.7 million, or 0.32% of total assets, at March 31, 2026, and $49.8 million, or 0.30% of total assets, at June 30, 2025.
Banner recorded a $3.8 million provision for credit losses in Q2 2026, primarily reflecting loan growth, compared to a $796,000 recapture in Q1 2026 and a $4.8 million provision in Q2 2025. Non-performing assets increased to $60.5 million (0.36% of total assets) from $51.7 million (0.32%) in the prior quarter, though the allowance for credit losses remained stable at 1.35% of total loans.
Event · Exhibit 99.2
Banner Corp disclosed Q2 2026 earnings of $48.9M, 10% annualized loan growth, 2bp NIM expansion to 4.13%, and a $0.52 dividend.
Added in current filing · view on EDGAR →
Net income of $48.9 million, compared to $54.7 million for the prior quarter
Banner Corp reported net income of $48.9 million for Q2 2026, down from $54.7 million in Q1 2026. Return on average assets was 1.20% and return on average tangible common equity was 12.27%, compared to 1.37% and 14.00% respectively in the prior quarter. The efficiency ratio (GAAP) increased to 62.80% from 60.60% in the prior quarter.
Added in current filing · view on EDGAR →
Net interest margin (tax equivalent) increased by 2 basis points to 4.13%
The net interest margin on a tax-equivalent basis expanded 2 basis points to 4.13% in Q2 2026. The presentation shows the bank maintains a top-quartile net interest margin among peers and benefits from a low-cost deposit base with 78% of deposits in non-interest-bearing and interest-bearing accounts (excluding CDs), funded at an average cost of 139 basis points.
Added in current filing · view on EDGAR →
$1.6 million provision for credit losses - loans and $2.2 million provision for credit losses - unfunded commitments; Allowance for credit losses – loans was 1.35% of total loans ... Non-performing assets remained low at 0.36% of total assets, up 4 basis points from last quarter
Banner recorded a $1.6 million provision for credit losses on loans and a $2.2 million provision for unfunded commitments. The allowance for credit losses on loans stood at 1.35% of total loans. Non-performing assets remained low at 0.36% of total assets, up 4 basis points from the prior quarter, reflecting stable credit quality.
Added in current filing · view on EDGAR →
Announced cash dividend to $0.52 per share to be paid in August 2026
Banner announced a cash dividend of $0.52 per share to be paid in August 2026. This represents the company's ongoing capital return to shareholders alongside its stated strategy of employing capital wisely and maintaining a premium to tangible book value.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jul 23, 2026 · How we verify