WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Wednesday reported third-quarter net income of $37.8 million.
The Walla Walla, Washington-based company said it had profit of $1.17 per share. Earnings, adjusted for costs related to mergers and acquisitions, were $1.19 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The regional bank posted revenue of $138.1 million in the period. Its adjusted revenue was $129.5 million, which also beat Street forecasts. Four analysts surveyed by Zacks expected $125.3 million.
Banner shares have dropped 4.5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $52.66, a fall of 15 percent in the last 12 months.