Banner Corporation Declares $0.14 Cash Dividend.Business Editors WALLA WALLA Walla Walla (wŏl`ə wŏl`ə), city (1990 pop. 26,478), seat of Walla Walla co., SE Wash., at the junction of the Walla Walla River and Mill Creek, near the Oregon line; inc. 1862. , Wash.--(BUSINESS WIRE)--March 23, 2001 Banner Corporation (Nasdaq:BANR BANR Board on Agriculture and Natural Resources ), the parent of Banner Bank Banner Bank is a Washington financial institution based in Walla Walla. Originally known as First Federal Savings And Loan Of Walla Walla, it was the oldest Savings and Loan institution in the state of Washington. and Banner Bank of Oregon, today announced its Board of Directors declared a $.14 per share cash dividend to be paid April 10, 2001 to shareholders of record on March 31, 2001. This payment is the company's twenty-second consecutive cash dividend. "This payment to shareholders continues our unbroken record of quarterly cash dividends since we initiated payments in January 1996," stated Gary Sirmon, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Based on the current share price, the dividend yield has reached 3.5%. In addition to our long-standing program of cash dividends, we have been sharing our success with our shareholders through stock dividends." Banner Corporation issued 10% stock dividends on August 17, 1998 and November 10, 2000. On January 26, 2001, Banner reported record fourth quarter and full year earnings reflecting continued strong growth in loans and deposits. For 2000, net income grew 8.6% to $18.3 million, or $1.60 per share, compared to $16.9 million, or $1.41 per share in 1999. Total assets increased 8.9% during the year to $2.0 billion and shareholders' equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. increased 8.2% to $193.8 million. Banner's loan portfolio grew 12.5% to $1.5 billion and deposits increased 10.6% to $1.2 billion over the twelve months. Banner Corporation, formerly First Washington Bancorp, Inc., is the parent of two commercial banking subsidiaries, through which it operates a combined total of 38 branch offices and five loan offices in 17 counties in three states. Banner Bank, the Washington state chartered commercial bank, operates 32 bank branches and four loan offices in Washington, Oregon and Idaho. Banner Bank of Oregon operates six commercial bank branches and one loan office within that state. BANR serves the rapidly growing Pacific Northwest region
The Northwest Region with a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. On Thursday, March 22, 2001, the Corporation's stock closed the trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. at $16.00 per share. Statements concerning future performance, developments or events, concerning expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , which are subject to a number of risks and uncertainties that might cause actual results to differ materially from stated objectives. These factors include but are not limited to: BANR's ability to maintain current dividend payments or increase dividend payouts to shareholders. |
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