BANNER CORP Earnings Per Share Disclosure
| Years Ended December 31 | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Net income | $ | 195,382 | $ | 168,898 | $ | 183,624 | |||||||||||
| Basic weighted average shares outstanding | 34,460,854 | 34,470,057 | 34,344,142 | ||||||||||||||
| Dilutive effect of unvested restricted stock | 195,948 | 158,653 | 106,270 | ||||||||||||||
| Diluted weighted shares outstanding | 34,656,802 | 34,628,710 | 34,450,412 | ||||||||||||||
| Earnings per common share | |||||||||||||||||
| Basic | $ | 5.67 | $ | 4.90 | $ | 5.35 | |||||||||||
| Diluted | $ | 5.64 | $ | 4.88 | $ | 5.33 | |||||||||||
Anti-dilutive restricted stock excluded from the diluted average outstanding share calculation (1) | — | 1,929 | 21,865 | ||||||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 23, 2024 | |
| 2022 | Feb 21, 2023 | |
| 2021 | Feb 24, 2022 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.