Banner Corporation Increases Quarterly Cash Dividend to $0.16.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)--Dec. 18, 2003 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. , today announced its Board of Directors declared a $0.16 per share cash dividend to be paid January 9, 2004 to shareholders of record on December 31, 2003. This is Banner's 33rd consecutive quarterly cash dividend and represents an increase of 7%. "We have been building our franchise, while generating top- and bottom-line improvements. This increase in our cash dividend is a way for us to share this growth with our shareholders," said D. Michael Jones Mike or Michael Jones may refer to: In sports:
Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. dividend yield is 2.6%." On October 24, 2003, Banner reported third quarter net income increased 23% to $4.2 million, or $0.37 per diluted share compared to a year earlier. Revenues increased to $25.2 million for the quarter compared to $24.0 million in the same quarter a year earlier. Assets grew 12% to $2.5 billion, deposits increased 15% to $1.7 billion and loans grew 6% to $1.7 billion from year ago levels. Banner Corporation is the parent of Banner Bank, a commercial bank which operates a total of 42 branch offices and nine loan offices in 20 counties in Washington This is a list of counties in Washington. There are thirty-nine counties in the U.S. state of Washington. Certain residents of Snohomish County consider themselves to be part of Freedom County. , Oregon and Idaho. Banner serves the Pacific Northwest region with a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. Visit Banner Bank on the Web at www.bannerbank.com. 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, 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. Banner undertakes no responsibility to update or revise any forward-looking statements. |
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