Banner Profit Misses Estimates, Revenue Beats

(RTTNews) - Banner Corp (BANR), the parent company of Banner Bank and Islanders Bank, on Monday reported second-quarter net income of $13.2 million or $0.64 per share, compared to $17 million or $0.88 per share in a year ago.

Net interest income for the quarter rose to $51.5 million from $43.8 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.65 per share on revenues of $49 million for the quarter. Analysts' estimates typically exclude special items.

Net interest margin was 4.19% for the quarter, compared to 4.06% in the prior year.

Also, Banner reported other income of $16.1 million for the quarter, compared to $20.3 million last year.