BANR - Earnings call transcript Q4 2024

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Operator

Hello, everyone, and welcome to the Banner Corporation's Fourth Quarter 2024 Conference Call and Webcast. My name is Marie, and I will be operating your call today. [Operator Instructions] I will now hand over to your host, Mark Grescovich, the President and CEO of Banner Corporation. Please go ahead.

Mark J. Grescovich

Thank you, Marie, and good morning and happy new year, everyone. to XXXX to Corporation. earnings like and fourth also year full call would welcome the you quarter I for Banner

me please Rice, today Chief call Head of and on Butterfield, Rich, our forward-looking Joining Corporation's would safe Relations. Banner statement? you Rich is Arnold, Financial our Chief our Rob Jill Investor Credit read Officer; Officer; the harbor

Rich Arnold

Good morning. Mark. Sure,

goals Banner's statements. management's measures today general discusses or business future or Those plans, other and include presentation will financial forward-looking for outlook outlook or Our include and products of statements descriptions objectives of Banner's services, for operations, and economic conditions. statements forecast about performance other

statements actual today. could risk also XX-Q XX, materially was number available to press period the the the discussed earnings factors a on question-and-answer XXXX. our Information discussion. filed actual and that results from risks are those are differ We forward-looking following uncertainties, ended results and September may from subject make of the quarter may differ yesterday and recently in These that other management's forward-looking to release cause released for statements Form

information Banner effective Forward-looking are its and the to as assumes Mark? concerning update no date only made, expectations. obligation they of statements are

Mark J. Grescovich

Rich. you, Thank

cover customary, today, you. is primary As we X will with items

I provide on First, XXXX you Banner's comments fourth high-level year will quarter and performance. full

our our and to of stakeholders, our communities Banner all our to support Second, the Banner clients, take continues actions including our team, shareholders.

quarter, as of on loan Butterfield provide our will Jill sheet. for operating on Rice comments Rob as finally, comments Third, portfolio. more And current well provide balance the the our will our on detail status performance

thing, to and the California and our for as that recognize our our wildfires, my X,XXX the get want all right to impacted. thank extremely years. I want thoughts started, with of all XXX of doing summed the core the Before values, up company Banner clients in who are those I our is lived working communities. of the result And our assist are and devastation we hard colleagues prayers past to has

continues overarching reliable thing and shareholders capital our to right of the provide consistent economic through and company commerce our goal our do our all Our and change events. clients, be colleagues, and a our source and communities, to to for cycles

I'm entire to that pleased Banner to I'm to report you exactly living is values. we again are our that of proud what core the team continue very do.

let me Now to turn performance. our overview an of

net XX, of of Banner quarter quarter Corporation million available the net announced, shareholders share share for or common for third ended to As XXXX. of December quarter $X.XX common the reported profit compares $XX.X This $X.XX per to fourth per XXXX. share diluted for a the shareholders $X.XX a of and per to XXXX profit

available full reported shareholders million. to $XXX.X income the December of Banner XXXX, net year XX, For ended common

a and would losses maintain Banner, the future. financial and improve to value the of in have we fair to to earnings, profile performance gains the continue will details on strategy moderate for risk your positioned make attention pre-provision earnings to the the illustrate company well Our To investments the these shortly. pretax changes and have of I discuss Rob sale excluding and made operating core securities, power instruments. direct of

the million XXXX. $XXX.X XXXX quarter million. from compared third full $XXX operations core core of revenue Our was $XXX were quarter to year earnings Banner's fourth for XXXX million

$XXX XXXX, operations from year was million. core revenue the full For

quarter client average net for a assets core very Once proved base fourth events. good of relationships, maintaining loyal and the economic a continue and return loyalty to on interest to of soundness Banner, be core has We That and to in benefit expense change model is, X.XX% position, again, through control. resilient a promoting all this and responsive safety growing advocacy margin execution bank from community and core super cycles continued core client our through our Overall, deposit our our performance new XXXX. and strategy. resulted strong that on funding service reflects demonstrating our

our the deposits. strong our Further, year. ratios total increased solid capital same we strong fact common per continue by the core of To X% our $X.XX deposits continued to X% performance, last coupled per last we increased dividend tangible of announced over of year, X% represent common loans core that a generation the relationships, from XX% regulatory and same share point, organic period and our equity increased core with that deposits of our period and Reflective our new we the share.

positive we We change serve. are we colleagues. reflects committed connection in in we to which the communities with thing deep to been Banner environmental, serve of communities and accomplishments doing The have ESG. always our maturation creating continued approach have support report, our to in published the right clients, the this many commitment our of highlighted the has of social our the report and to reflect our stakeholders our meant and all governance

to proposition. named I'm recognition by to again business of the in Forbes. of America's and X model XXX X Banner our say that and we was and validation marketplace Finally, of Banks World receive pleased Best Best continue the Banks our value

financial more And billion rate Holdings in Most Intelligence of the the year country. Bank QX in Banner banks Best with of in performance provider the Newsweek top than and Trustworthy World Global the Banner Banner in Bank the for public this X America Banks the Regional named Banner's XX awarded assets. their Year the named just X S&P recently of again $XX banking digital among Companies Market Excellence.

outstanding and noted CRA rating previously, ratings. Agency debt all Bank CRA Banner received Additionally, our investment-grade Rating Bond And of the most an deposit as Banner's recent in affirmed we've Kroll examination.

trends over the Jill? portfolio turn in now Jill discuss her our credit me Let Banner's on loan and to call comments to quality.

Jill Rice

Mark, you, everyone. good and Thank morning,

recent large-scale from the devastation to that most Before $X roughly wildfires. HELOC commitments the to recent and the portfolio updates. has loan Eaton acknowledge I, I Angeles Los the discuss exposure and Banner's Greater credit year-end, is too, affected limited Banner's as of the in Palisades of metrics community from fires million as want

experienced losses the important However, Recognizing and those say support can is family clients the recovery short the their of for neighborhood entire serve and and their rebuilding we efforts. road and is nothing which be will that arduous, we in will by clients, we it the that heartbreaking. to in personal long these ways look our communities

and X.XX%, the Now X.XX% loans Adversely loans quarter up of increased total the loans total of X.XX% loan and classified quarter compared basis to as ending turning quarter to compared million in both X the XXXX. at to Delinquent $XX when points to the year portfolio. ended the linked is now and not impact X.XX% quarter business It note in linked increase current that the of classified industry, had to is XXXX. economic is certain as or line reflective on of borrowers. and adversely X delinquencies, to the any environment in concentrated have similar the of important in year-end the rise loans the

in represent assets the of $X.X quarter consisting nonperforming and Nonperforming assets, of $XX and other loans, in million total declined repossessed million million X.XX% $XXX,XXX REO assets. $X in in

our Banner's capital credit years, position to in and indicative culture and elevated of metrics of of management. light While modest comparison portfolio loss and early proactive loan remain these reserve recent are in

loan and $X million, for in the related totaling and million totaled credit a part to net of unfunded Loan in $X.X were provision the a commitments. $XXX,XXX $X $X.X quarter loan for release provision quarter offset by was The million. losses losses losses recoveries million including for

quarter adversely and linked losses in the net of loans year-end This total classified of year, result the as increase as moderate now basis quarter and average of the well loans. X The provision of For coverage coverage nominal of of as totaled loan the X.XX% compares the experienced to is provides a this X.XX% points total growth loans. both of as XXXX.

moderately lending note both and and as loans consumer closing I well relationships. construction expanding to the development investor due compared outstandings, bringing to declined up several our quarter, quarter, and as year-over-year, totals. growth linked CRE during X% of previous when in that originations in the new million growth. back $XXX Banner Loan This pleased were estate and reduced real successful quarter. commercial to am largely the the however, clients further in Loan grew in the representing closings $XXX impacted and million were loan demand new by owner to quarter muted commercial reflected included teams by existing

and receipt real construction upon year-over-year the we is X% up and extent, total construction another Year-over-year, totals, funding up continues lesser X% to respectively, middle were of and $XX and totals balance X% X% affordable with estate both annualized million projects quarter, basis. strong up with projects construction X%, affordable small balances reduction this loans in quarter-over-quarter the to a Together $XX of growing an CRE, housing payoff business is income The is small housing across growth the million the grew construction well. commercial footprint. completion at perform developers however, term in of to multifamily the multifamily business X%. commercial continue loans, commercial by reflects reflected up $XX portfolio, residential various support portfolio of C&I on as The or projects quarter-over-quarter. utilization million, sources. to small Similar and loan

but all-in-one below of is sale starts, inventory residential, construction custom environment by the projects inventories remains multifamily construction of rate XX% be of approximately total higher The and development land decline development, necessary consider loans. completed quarter, the while XX% land builders as modestly and will have down benefiting XX% interest to Land rate years. level commercial when this Together, coming were percentage reduced replenish from in product environment, product. and this norms. to at The increased historical muted past acceptable unsold basically in still over commitments of level year-over-year have for and that with along the you year, demand an in remains construction, higher land has a the flat total resale for as continued increasing the loans exposure with lot seek the and

decline, And in began the quarter, the during of or in portfolio the quarter. $XX loans in comparison growth moderated with the part X% consumer sale in agricultural mortgage portfolio lastly, fourth reported quarter. we million to $X pooled or seasonal the expected, As modest down the million X% balances $XX million their by linked large

our by will of close and I profile. credit reflective risk metrics our reiterating moderate remain that solid

of by of of as proved portfolio did at our robust history time. that uncertainty the well to metrics XXXX, as a the total positioned microphone We of requirements. in quarterly improve loans. given positioned and and over modest hand that my economic are assets That we statement With should remain the that At our with cycle. the economic cycle for We capital I regulatory a balance expected percentage level reviews, we Rob to of classified that, portfolio of follow-up, long for credit supported well were and a strong a be navigate this I balance quality loan adversely true, continue the messaged not to levels losses remain the his further navigate well close Rob? will credit the sheet, is granular reserve comments. robust to excess

Robert Butterfield

loans $X.XX in was primarily earnings million. portfolio per a you, $XXX for fourth to offset decreasing compared compared sale in Thank prior loans the of income, diluted in Total the expenses by partially primarily and income $XX share diluted $XX quarter higher The increases loan quarter, offset increased with per loans The for the the share share reported partially held-for-sale was Jill. pooled to We million, during $XX increase decrease prior $X.XX million. million due quarter. held-for-sale quarter. due net per interest by noninterest increasing loans to to $X.XX

million, $XX primarily to were decreases well to as quarter. the due million ratio $XX million, Core cash portfolio core The million quarter deposits normal due decreased of the quarter rates during XX%. essentially securities the prior flat. result during of Total deposits, value Total interest as flows. $XX the ended decreasing while total borrowings during deposits the time ended at at increased same quarter, XX% by quarter. as deposits quarter increasing Deposits fair decreased loan-to-deposit the a as $XXX

profile low on borrowing reliance to capacity. funding with Banner's significant a and continue core borrowing base, liquidity remain and capital robust strong off-balance wholesale sheet

all addition, levels. of well-capitalized our ratios In are excess capital in of regulatory

basis also the declining a assets to of borrowing benefited decreasing average X.XX% point from basis during from current $XX and balances to increase larger million point $X.X net a interest equivalent which increased XX as deposit earning of costs $XXX margin in XX the to lower margin income interest net X driven as basis increasing of average added X cost by XX margin. points sheet from was funding quarter, points due a a basis tax interest quarter increasing in million. and basis hedge result funding points The percentage carry result prior The Net a decrease million. the quarter with deposits coming maturing negative balance costs

benefit ended continuing the on increasing $XXX loan sheet of for adjustable basis The reductions driven cash points deposits. XX% decreasing interest the deposits total on Fed at average new variable cash decreasing in balances $XX previously million, points, yield rate average interest offset basis the interest-bearing quarter to quarter X.XX%. by to rates increase earning yields and partially Noninterest-bearing well new by repricing assets average balances investment and of the in X down million. loan decreased as was The maturing. and production The was average come of due was production decrease on hedge rate due loans higher, result assets the total rate The a repricing points. and the loan basis yields by investment overall X offset on in portfolio loans to decreasing X funds rate, balance yield partially mentioned earning loan at above as yields

a expense The well million on from tax Total $XXX,XXX. higher prior increase quarter, benefiting the fees as the of $XXX,XXX due sale. gain increased the expenses noninterest mentioned a Total fund increased the rate the prior marketing and $X prior a $X.X loan previously quarter professional gain noninterest from on to a reflected primarily $XXX,XXX of as quarter. million from sale nonperforming income loan pooled and of of payroll

liquidity and comments. us sheet prepared gives balance Our capacity grow the capital position XXXX. concludes This the to my in

Now I'll turn it back to Mark.

Mark J. Grescovich

comments. concludes we your Thank remarks. you, and now questions. And the open for prepared Marie, Jill Rob, That welcome our and call will

Operator

Davidson. Instructions] is Rulis D.A. of first from Our question Jeff [Operator

Jeff Rulis

that... on at other margin. margin? were Quick question there Or Anything were on the Rob -- any the for the in absent with -- helped -- that all recoveries quarter

Mark J. Grescovich

Yes, nothing there. was really I FHLB surprise XX but of for was Yes, an we it that were the down in cost just it unusual nature the really basis X decline funding deposit because basis of outstanding really the points, -- advances costs cost there, were essentially the our funding X was points mean quarter. Jeff. probably saw average

had through comments then mentioned in the spread was So the funding we sheet then costs that halfway that benefited about balance And between -- and quarter. off hedge costs deposit rolled I negative at also That prepared carry. that it. my a

So that added X basis points to the margin.

Jeff Rulis

not of On to to the suppose? the -- was, that core artificial kind treat kind getting trying margin. Nothing I'm in in -- what I'm onetime not into hedge, as it's of that. I do guess just of the but we back is I at, kind nature, benefit XXX it's hit

Mark J. Grescovich

Yes, that's correct. Yes.

each sheet hedge continue forward. we'll the rolled that quarter get balance that Now has off, benefit to going

pure So was a the number. XXX

Jeff Rulis

average December the have margin? you do Rob, on And

Robert Butterfield

were X Yes. deposit costs few It costs Deposit the points than basis points -- was were higher a quarterly. basis lower.

compared X.XX% for the X.XX% were costs deposit quarter. So to

compared for the points quarter. it call or higher basis X to December X So

Jeff Rulis

in in And with on kind terms just were gaining sounds of as wind the deposit to get the but to cuts, front, general of from done they back ground sensitivity more cost the a rate there trying 'XX of you positioning, couple. like on margin, of view check It a of here? view 'XX? any you you're at Is be your

Robert Butterfield

were at as will rate relatively Yes. December, in would the NIM we we to quarter expect If offset first flat are adjustable this by XX will XX% year, in repriced down to portfolio continue rate given look the loan the down days, within Sure. reprice up. that saw partially basis cut yields our of few first the QX I a be of be loans floating be and points that as

low. costs side, expect QX in so to But of an funding deposit increase some I just unusually we'll the was would the wholesale quarter. likely because see On in decline some see the first in borrowing

I in would costs. to I a general, quarter the If think a funding in first the down quarter a compared year, NIM reduction So to following rate in cost expect will the think the flat in this to of cut. in be rest deposit I just smaller result about

cut, few rate a be will I up quarter. no basis Assuming margin points that would each expect

Jeff Rulis

strategically, the segment? in in business Appreciate business to mortgage Mark, wanted very in any Maybe, you opportunity a region -- it. mortgage in the with business. are the see check Do helpful. ] announcing the originating. family and a of I your that given the exit That's that peer Fed expertise on or Had [ mortgage platform exiting the

Mark J. Grescovich

this been the years. for That's has Thanks on. a banking were Look, for think I founded we of strength question, mortgage organization XXX what Yes. Jeff.

focused And retail in And able banking core our we to mortgage have operation. community that's market in continue platform. occurring. with we as of to banking conjunction exit, competency our mortgage of more think advantage opportunity We think quite business I people a bank a bit take disruption we'll the that the great see and I be have

Now business. with we some the obviously, good the some rates. burden to And from cooperation, regulatory have need get banking some reduce hopefully, I going we're the to to mortgage think of agencies pressure interest with in to opportunity projects some build,

Jeff Rulis

Great. X% similar 'XX, X levels you quick in 'XX today? in last as sit And growth thinking Jill, one.

Jill Rice

Yes.

We mid-single-digit for are rates targeting XXXX, growth Jeff.

of the immigration only of thing, end year pull-through. Our the reform, the I rate of potential tariffs. interest with the with strong commercial growth loan implications pipelines all at caveat were my environment, healthy the even The negative

targeting right cause yes, but could of we're digits. of some, All that now, that back as to mid-single pull

Operator

Terrell from Stephens. Next question is of Andrew

Andrew Terrell

the loan and just color If growth the appreciate there. -- on I I start the margin on could all

And the make highlight any year? specific kind be thinking growth how expense Just you're of looking in on can should in maybe investments to XXXX? about you expenses, we

Robert Butterfield

Andrew. It's Sure. Rob. Thanks,

what in mean, stuff. would say an from for is a I rate. of increase that that then run would general, wage to I expect I expenses as type that based just would of on increases, start I normal inflationary current see with increases, QX yes, normal XXXX, So kind And in

I efficiencies we I As year. right now, that create we rolled to far go we've QX get expect balance as within add origination that loan making that's and about as of that's the fully live to the start new to expenses will initially system organization mean, we're add Initially, investments as deposit this it in scalability I expected talked out. grow and to would But organization would once some the expect continue fully sheet. it rolled out, to the the to

Andrew Terrell

it. Got

pretty so just the Okay. point margin And the much the starting trying ask maybe of get that curious floating -- the sounds down in as lagged, deposit that kind if I better a carries margin you could just could far. margin. on the really cost how not I'm quarter, was December basis of you're as have on points but just a of XQ to Or follow-up I first go benefit you related Is bit? had to don't up XX margin the And to on a X hedge asset quarter. benefit, forward. can the decent that it the expand if I'm in kind was understand dynamics and you like I in repricing up guess side? it

Mark J. Grescovich

Yes.

side But it the other out rate is it, the uncertain variable and right which know more reduction I little the it deposit on that's think guaranteed there. of side there coming. have a hit that's think -- the product, I we mean, now. cost I you is of we

basis for It being potential they're Fed. industry-wide, basis the beta we've the XXX beta this a we is first rate would that is saw slow the cuts say, some XX the that. out slower -- seems last from rate to like basis I we this seen taking points points, first on at is there what that think that of And what longer, are points. -- there of point saw taken the cuts, then starting now slowdown XX competitor-wise, deposit higher with higher down the competitors I

get this that December as just rate in building XX be much cut of might side. deposit idea on basis of that, not we out part I'm able So the the to point

Andrew Terrell

Understood. Got that lot And it. sense. makes a of

Operator

James. question We David of have Raymond from Feaster a

David Feaster

up the I side. on just loan of to follow wanted kind growth

What's all, touch Curious, You I the I that. -- hearing and new are clients? opportunity the of you you seeing the uptick first the saw pulse just What clients, of on where hearing? all then -- election if you could of there? you're nice kind pulse and that? kind a just what originations. year, your with drove mean, And what new of C&I your of in you're

Jill Rice

Thanks, David.

tempered for I change it's happens other of said, the in talked the kind administration. among a what see loan and really So takes to pull the initially activities as C&I been through. the a across it But some there's a with the time, of as long of market. with That's but level that wait in and optimism the before, clients, time some growth, with these about it pipeline we've is

C&I So we growth. saw

well, portfolio loan If in saw diversified owner-occupied both C&I across product then our real really at occupied opportunities growth, We more the growth Washington Washington. still are But the looking California, it's we And the and the in in in you're California, California as occupied market, saw and footprint and in in seeing owner growth in C&I growth the you there. were Washington. estate nonowner nonowner geography. investor

David Feaster

of growth? Perfect. then with less pushback interest-bearing in that the your working earlier any you a seen Okay. done Have just about stuff. have curious, have other costs? the attrition? also reduce reduce I'm job kind doing you great have And again, core deposit lag. to costs, deposit continue you deposit had think ability you all? further at these on any as a dynamics side, job balances movement, great do some about And alluded deposit deposit guys Have And you done you driving guys it your And and But remarks the to you of clients conversations on with to costs. just prepared reducing all how

Robert Butterfield

Yes, David.

clients is to that more that the sophisticated I they we some with be that is clients and business the more exception would price So the conversations directly tend larger to our say are in have clients, tied nature. there what of

And the so a just rates interest this interest environment to point they receptive that rate think going they've to are standpoint. reductions we've and from market because all down done been I the there understand that

or So I the as exiting changing related are, to long years, our loyal say the paying reductions there competitive competitive that These rates think pushback we've done Banner. are remain seen there any can't growth And as been them been over obviously clients we interest We've to we support to we paying necessarily. then real which business and this them, in to I long-term there's much their haven't we're rates. point. the clients that we're clients

Mark J. Grescovich

David, is Mark. And this

add same. actually release the of the increased of But me the balance stayed we the that we do year quarter. we that had number in at Let average just the to put end the has the accounts that last compared

our closing we had So haven't reductions, we've or even moving. clients away rate from some seen though accounts really shift a

David Feaster

Okay. on you're good anything that. credit that and concern? you is managing to just to the slow That's to anything increase Curious, mean, helpful. credit, front? you're Curious, then segment, you're touching And there to the just And allocation ag. you the do allocation there? on you causing broadly. seeing side? I continue that aggressively And broadly upgrade seeing a downgrade, is that credit curious specifically just job worried at very reserve within the proactively looking seeing ag that's and credit, guys all then there you you're specifically quick Or that on about guys any just what provide, what

Jill Rice

that commodity borrowers the certainly ag, on more to term. of borrowers that smaller near put impacted the portfolio, the within and some lower strain have in So prices could

reserving last think part the in in the credits are the you the downgrade downgrade quarter to X the about quarter ag As there, in well had ag additional California portfolio, we as market. this Northern of substandard

why you're seeing that that's portfolio. in growing the So reserve

portfolio book. the that is loan ag to it's I of think the important X% reiterate

So a small total. it's in percentage pretty

general really of But that certainly, consumer prices is expect seen that, idiosyncratic, and of be really to with we're business rate most and the notably I the more credit across the whole ag that environment just has deterioration but small Outside further -- watching market cost it been commodity operations. sectors. higher interest going

So our there. eye we're continuing to keep

Operator

[Operator Andrew Sandler. have Piper question a Instructions] We from of Liesch

Andrew Liesch

heard optimism from heard XXXX. been bit the a We've conversations the of bit of Mark, targets? -- environment for your M&A cadence with the for how quite we've peers a prospective quite has and pace your

Mark J. Grescovich

thank Andrew. It's the last for the -- has been the that you characterize Well, quarters. it several same would as question, for it I

matter. a made technology. to competitive. is to that And scale a And everybody it's investment tailwind think us, that be going recognizing of be to I continue in behind got still to It's will a be going competitive. to bit There competitive environment. though even we've going it's be continued is needs that

much take would next the market organization, terms going market and your in can be I on to over of scale. going hold and is as the done characterize to what take in scale being least reinvest years. course needs by your to share realistic to mean franchise or conversations you at several more that And the positive reinvesting so share to And in and that's continue of

conversations positive. So I as would characterize the

Andrew Liesch

Got it.

You've covered I'll all back. my other questions. step

Operator

We have from of Motta KBW. Kelly a question

Kelly Motta

your gains? I growth whether market great are just been share -- joined areas the up I where if looking across pick you're looking there to the or seeing also footprint, -- if opportunities teams? Wondering MSA where of driven And bit density, now, right add it by versus just markets. X-state a late. you're covered economic has your footprint, some in be scale best engine that you're this of But already. apologize really

Mark J. Grescovich

you, This Thank Kelly. Mark. is

summed the next what excellent feel and economic several very growth about very, up terms it some years are very may in is of in markets over we I think of which that we happen well, in terms in excited you regions. prosperity our

So market any characterize our other particular X footprint. I of in outside wouldn't

amount footprint. creating our good current build the that's that to adding reason to feel I our been we've where see bankers we're don't and is We're additional of We us footprint frankly, I expand continues to very at. What market the disruption and And in on continue of for concentrate a help fit in at all occurring our us hiring of markets. culture brands occur, will with brand. Banner and try good and would quite the very outside

to exactly through can attention and going secure, many organization opportunity that Banner in performance sound the want bankers So and gaining of what deliver that's all as professional associate most themselves I choice to think doing. economic consistent And cases. is is we're with there's be being continued And employer an cycles. safe,

Kelly Motta

helpful. And our more growth about like prospects. banks the It their then on feels one just loan optimistic That's it. getting more are outlook. of loan maybe growth follow-up Got question many

guys could that Or X% conservative? upside that just factors be think potential there's loans to grew could mid-single and you look reiterated how you you wondering growth growth number I'm balanced if what digits the are that number to year, and drive again. Is play I this You trying and growth? on rate? And above that that could stay really out?

Jill Rice

Sure.

well reform, the impact tariffs will is on the then that upside the to of I Immigration to our one disruption ability certainly we about, potential several on continue that lot mean, rate that talked uncertainty to significant in grow. downside have impact. clients and I a could have which of -- the with can't don't as that give an marketplace, environment market think hand, I our hire either, Kelly, a longer. that number. ignore And But I for interest could

and to because got negatives. play of positives the you've the there I So road middle got

digit. where that's So mid-single at we're the

Kelly Motta

Thank back. I'll it. Got step you, Fair Jill. enough.

Operator

will so back hand questions, closing to further no remarks. Mark have I currently for We

Mark J. Grescovich

Thank you, Marie.

our we're your for you joining stated, proud Banner and a performance. to Have in again I've the and our Thank reporting As Thank very you next for team today. XXXX of quarter. great to call interest you. look results everyone. day, Banner We our forward

Operator

call. This concludes joining. you today's Thank for

disconnect You your may now lines.

Banner (BANR) 23 Jan 252024 Q4 Earnings call transcript