Banner Bank, based in Walla Walla, reported a drop in net income for the third quarter of 2026, while its net interest income increased following its acquisition of Pacific Financial Corp., which operated Bank of the Pacific branches. The bank's net income for the quarter was $47.7 million, down from $48.9 million in the second quarter and $53.5 million in the same period of 2025.
Read More
The bank incurred more than $5 million in expenses related to the merger. In contrast, net interest income rose to $161.9 million for the latest quarter, compared to $153.7 million in the second quarter and $150 million in the third quarter of the previous year.
Banner Bank has exceeded its annual net income for 2026 compared to 2025, earning $151.3 million through September 2026, compared to $144.1 million during the same period in 2025. Mark Grescovich, Banner's president and CEO, emphasized the bank's commitment to client relationships, funding stability, and exceptional service, while maintaining a moderate risk profile. He noted that the bank is built on a solid foundation of credit quality, backed by a robust capital position and well-funded credit loss reserves, providing resilience and flexibility for future growth.