Deposits totaled $3.49 billion at September 30, 2012, compared to $3.43 billion at June 30, 2012 and $3.54 million at September 30, 2011. Non-interest-bearing account balances increased 14% to $919.0 million at September 30, 2012, compared to $804.6 million at June 30, 2012, and increased 20% compared to $763.0 million at September 30, 2011. Interest-bearing transaction and savings accounts were $1.48 billion at September 30, 2012, compared to $1.45 billion at June 30, 2012 and $1.46 billion a year ago.“The improvements in our deposit mix are reflective of further successful execution of our super community bank strategy that is lowering our funding costs by reducing our reliance on high-priced CDs, growing new client relationships, and improving our core funding position. All of this growth is organic growth from our existing branch network,” said Grescovich. Banner’s cost of deposits declined seven basis points to 0.41% for the quarter ended September 30, 2012 compared to 0.48% for the quarter ended June 30, 2012, and declined 29 basis points from 0.70% for the quarter ended September 30, 2011.
Banner Corporation Reports Net Income Of $15.6 Million, Or $0.79 Per Diluted Share, In Third Quarter; Net Income Highlighted By Strong Revenue Generation And Improved Credit Quality
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