Banner Corporation, the parent company of Banner Bank, has reported a net income of $51.2 million for the fourth quarter of 2025, compared to $53.5 million for the preceding quarter and $46.4 million for the fourth quarter of 2024. Net interest income was $152.4 million for the fourth quarter of 2025, compared to $150.0 million in the preceding quarter and $140.5 million for the fourth quarter a year ago. The net interest margin, on a tax equivalent basis, was 4.03% for the current quarter, compared to 3.98% in the preceding quarter and 3.82% in the fourth quarter a year ago.
The company's revenue was $167.7 million for the fourth quarter of 2025, compared to $170.7 million in the preceding quarter. Adjusted revenue was $169.9 million in the fourth quarter of 2025, compared to $168.7 million in the preceding quarter. Net loans receivable were $11.56 billion at December 31, 2025, compared to $11.54 billion at September 30, 2025, and increased 3% compared to $11.20 billion at December 31, 2024. Total deposits were $13.74 billion at December 31, 2025, compared to $14.02 billion at September 30, 2025, and $13.51 billion at December 31, 2024. Core deposits represented 89% of total deposits at December 31, 2025.
The company reported a $2.4 million provision for credit losses for the fourth quarter of 2025, compared to $2.7 million in the preceding quarter and $3.0 million in the fourth quarter of 2024. Non-performing assets were $51.2 million, or 0.31% of total assets, at December 31, 2025, compared to $45.3 million, or 0.27% of total assets, at September 30, 2025, and $39.6 million, or 0.24% of total assets, at December 31, 2024. The allowance for credit losses * loans was $160.3 million, or 1.37% of total loans receivable, as of December 31, 2025, compared to $159.7 million, or 1.36% of total loans receivable, as of September 30, 2025, and $155.5 million, or 1.37% of total loans receivable, as of December 31, 2024.
The company's efficiency ratio was 62.11% for the fourth quarter of 2025, compared to 59.76% in the preceding quarter and 61.95% in the same quarter a year ago. Banner Corporation's total assets were $16.35 billion at December 31, 2025, compared to $16.56 billion at September 30, 2025, and $16.20 billion at December 31, 2024. Total loans receivable were $11.72 billion at December 31, 2025, compared to $11.70 billion at September 30, 2025, and increased 3% from $11.35 billion at December 31, 2024.
Banner Corporation also repurchased 249,975 shares of common stock during the fourth quarter of 2025 at an average price of $63.14 per share. Today the company's shares have moved -1.65% to a price of $64.87. Check out the company's full 8-K submission here.
