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SEGMENT REPORTING | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Segment Reporting Disclosure | The Company is managed by legal entity, rather than by lines of business, and its activities are considered a single operating segment for financial reporting purposes. The Bank is engaged in the single line of business of community banking, which involves gathering deposits and originating loans in its primary market areas. The Bank manages its operations, allocates resources, and monitors and reports its financials as a single operating segment. Banner’s Chief Executive Officer is considered the Chief Operating Decision Maker (CODM). The CODM assesses performance based on net income that is reported on our Consolidated Statements of Operations. The CODM uses consolidated net income as the primary measure to evaluate resource allocations. In addition to our consolidated financial statements, specifically the statement of operations and the statement of cash flows, the operating and financial condition data below is used to monitor budget versus actual results and assess performance:
OPERATING DATA: | For the Year Ended December 31
(In thousands) | 2024 |  | 2023 |  | 2022
Interest income | $ | 766,103 |  |  | $ | 701,572 |  |  | $ | 572,569 |
Interest expense | 224,387 |  |  | 125,567 |  |  | 19,390 |
Net interest income | 541,716 |  |  | 576,005 |  |  | 553,179 |
Provision for credit losses | 7,581 |  |  | 10,789 |  |  | 10,364 |
Non-interest income | 66,888 |  |  | 44,409 |  |  | 75,255 |
Non-interest expense | 391,538 |  |  | 382,538 |  |  | 377,295 |
Net income | $ | 168,898 |  |  | $ | 183,624 |  |  | $ | 195,378 |
FINANCIAL CONDITION DATA: | December 31
(In thousands) | 2024 |  | 2023 |  | 2022
Cash and securities (1) | $ | 3,607,933 |  |  | $ | 3,687,302 |  |  | $ | 4,178,375 |
Loans receivable, net | 11,199,135 |  |  | 10,660,812 |  |  | 10,005,259 |
Total assets | 16,200,037 |  |  | 15,670,391 |  |  | 15,833,431 |
Core deposits | 12,014,726 |  |  | 11,552,030 |  |  | 12,896,529 |
Total deposits | 13,514,398 |  |  | 13,029,497 |  |  | 13,620,059 |
KEY FINANCIAL RATIOS: | For the Years Ended December 31
| 2024 |  | 2023 |  | 2022
Performance Ratios: |  |  |  |  |
Return on average assets (2) | 1.07 | % |  | 1.18 | % |  | 1.18 | %
Net interest margin (tax equivalent) (3) | 3.75 |  |  | 4.01 |  |  | 3.68 |
Non-interest expense to average assets | 2.48 |  |  | 2.46 |  |  | 2.29 |
Efficiency ratio (4) | 64.33 |  |  | 61.66 |  |  | 60.04 |
(1)Includes available-for-sale and held-to-maturity securities. (2)Net income divided by average assets. (3)Net interest income as a percent of average interest-earning assets on a tax equivalent basis. (4)Non-interest expenses divided by the total of net interest income and non-interest income.

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- Definition The entire disclosure for reporting segments including data and tables. 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