Company Profile
- Banner Corporation (NASDAQ: BANR) (“the company”) is a $15.5 billion asset bank holding company for Banner Bank (“the bank”) based in Walla Walla, WA with 137 retail branches and 18 LPOs in WA, OR, CA, ID, and UT.
- The company required a recapitalization in 2010 with $175 million in equity following its Global Financial Crisis (GFC) performance along with a new leadership group. BANR is a relationship focused, super community bank and has completed five acquisitions over the last nine years for over $6 billion in assets. The largest acquisition was the $4.5 billion asset acquisition of AmericaWest Bank in 2015 that extended the company’s footprint into Northern and Southern CA. The company also sold four branches mid-year 2022 in non-core markets that included $178 million in deposits.
- BANR’s current operating and financial profile is markedly different than the challenged savings bank it was entering the GFC in 2008, as a revamped management…