WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Thursday reported fourth-quarter net income of $49.9 million.

The Walla Walla, Washington-based company said it had net income of $1.44 per share. Earnings, adjusted for non-recurring costs, came to $1.47 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.

The regional bank posted revenue of $151 million in the period. Its adjusted revenue was $146 million, which also topped Street forecasts. Three analysts surveyed by Zacks expected $144.6 million.

For the year, the company reported profit of $201 million, or $5.76 per share. Revenue was reported as $593.3 million.

Banner shares have increased 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $62.57, a climb of 21% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BANR at https://www.zacks.com/ap/BANR

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