WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Thursday reported fourth-quarter profit of $33.7 million.
On a per-share basis, the Walla Walla, Washington-based company said it had profit of 95 cents. Earnings, adjusted for one-time gains and costs, were $1.07 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The regional bank posted revenue of $153.7 million in the period. Its adjusted revenue was $139.8 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $138.2 million.
For the year, the company reported profit of $146.3 million, or $4.18 per share. Revenue was reported as $550.9 million.
Banner shares have fallen 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $54.19, a decrease of slightly more than 4% in the last 12 months.