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…
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