Customers of Banner Corporation saw their costs of revenue decline by -13.76 % in Q2 compare to a year ago, sequentially costs of revenue grew by 1.72 %, for the same period Banner Corporation
Banner's Comment on Sales, Marketing and Customers
AmericanWest’s lending operations were concentrated in the states of California,
Utah, Oregon, Idaho and Washington. The merger with AmericanWest resulted in Banner’s
initial entry into the states of California and Utah where Banner has little or
no operating experience. Although Banner retained a number of AmericanWest’s
lending and business development officers with experience in these markets, Banner
is new to these market areas and has conducted only limited banking business in
California and Utah. Our entry into these markets presents us with different competitive
conditions, customer preferences and banking products than we have experienced
in the Pacific Northwest markets we know. As a result, it is possible that our
operations in these states may be less successful than our operations in the Pacific
Northwest. In addition, our financial condition and results of operations will
be subject to general economic conditions and the conditions in the real estate
markets prevailing in California and Utah as well as the Pacific Northwest markets
we know. If economic conditions in any one of these states worsens or if the real
estate market declines, we may suffer decreased net income or losses associated
with higher default rates and decreased collateral values on our existing portfolio,
and we may not be able to originate loans at acceptable risk levels and upon acceptable
terms to maintain our risk profile and asset quality.
Banner’s Comment on Sales, Marketing and Customers
AmericanWest’s lending operations were concentrated in the states of California,
Utah, Oregon, Idaho and Washington. The merger with AmericanWest resulted in Banner’s
initial entry into the states of California and Utah where Banner has little or
no operating experience. Although Banner retained a number of AmericanWest’s
lending and business development officers with experience in these markets, Banner
is new to these market areas and has conducted only limited banking business in
California and Utah. Our entry into these markets presents us with different competitive
conditions, customer preferences and banking products than we have experienced
in the Pacific Northwest markets we know. As a result, it is possible that our
operations in these states may be less successful than our operations in the Pacific
Northwest. In addition, our financial condition and results of operations will
be subject to general economic conditions and the conditions in the real estate
markets prevailing in California and Utah as well as the Pacific Northwest markets
we know. If economic conditions in any one of these states worsens or if the real
estate market declines, we may suffer decreased net income or losses associated
with higher default rates and decreased collateral values on our existing portfolio,
and we may not be able to originate loans at acceptable risk levels and upon acceptable
terms to maintain our risk profile and asset quality.
Sources:
Banner Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Banner Corporation’s corporate clients.
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