Banner Bank parent reports $37.5 million in 4Q earnings

Banner Corp., Walla Walla-based parent company of Banner and Island banks, reported fourth-quarter earnings of $37.5 million.

The earnings, reported Wednesday, amounted to $1.09 per share, and included charges from the acquisition of Skagit Bancorp. The purchase gives Banner Corp. a presence in the North Puget Sound area, company officials said.

The fourth-quarter earnings compared to 2017 fourth-quarter losses of $13.5 million, or 41 cents per share. Last year’s losses included charges for deferred tax assets because of national tax reform.

For 2018, Banner Corp. reported earnings of $136.5 million, or $4.15 per share, compared to 2017 earnings of $60.8 million, or $1.84 per share.