WALLA WALLA, Wash. (AP) _ Banner Corp. (BANR) on Thursday reported fourth-quarter profit of $54.4 million.

On a per-share basis, the Walla Walla, Washington-based company said it had net income of $1.58. Earnings, adjusted for non-recurring costs, came to $1.68 per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.56 per share.

The regional bank posted revenue of $178.6 million in the period. Its adjusted revenue was $172.1 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $167.2 million.

For the year, the company reported profit of $195.4 million, or $5.67 per share. Revenue was reported as $628.4 million.

Banner shares have fallen 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $61.32, a decrease of nearly 6% 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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