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Umpqua Holdings (UMPQ) in Portland, Ore., will close 27 branches by the end of this year as part of its integration of Sterling Financial in Spokane, Wash.
June 23 -
Multiple bidders are the new normal in bankruptcy auctions of banks. Case in point is Banner Corp., which anticipates at least one competing offer for Idaho Banking in Boise. Some banks are increasingly letting an initial bidder bear the preparatory expense before swooping in with a higher price.
April 28 -
Idaho Banking is the latest bank set to change hands through the bankruptcy process.
April 25
Banner in Walla Walla, Wash., reported a big increase in second-quarter earnings thanks to its recent branch acquisitions in Oregon.
Net income increased 44% from a year earlier, to $17 million, Banner said in a press release Thursday. It earned 88 cents per share.
Banner gained approximately $211 million in deposits and $88 million in loans from the
Banner's total loans increased nearly 15%, to $3.7 billion, primarily driven by a 25% increase in commercial and multifamily real estate loans. Total assets increased 12%, to $4.75 billion.
Net interest income improved 3.7%, to $43.8 million. Revenues from core operations increased 2% to $54.4 million. The net interest margin was 4.06%, up from 4.20% a year earlier, reflecting improvements in Banner's earning-assets mix.
Total deposits increased 13%, to $3.92 billion, as core deposits increased 19%. Deposit fees and other service charges increased 11%, to $7.3 million, primarily because of marketing initiatives, the release said.
Asset quality improved as nonperforming assets decreased 27%, to $24.2 million; there was no provision for loan losses.
