Banner Q3 EPS misses analyst expectations
BANR•Banner reported Q3 EPS of $1.36, below the $1.44 analyst estimate, while revenue rose 4% year over year to $179.07 million.
1. Quarterly results
Banner’s Q3 net income was $47.71 million, below the $48.21 million estimate. Net interest income was $161.89 million. Revenue growth was driven by the Pacific Financial acquisition and loan growth; higher asset yields improved net interest margin, partly offset by increased funding costs. Merger-related costs and expenses from acquired operations increased non-interest expense.
