Banner Corporation Surveillance Report

Company Profile

Banner Corporation (NASDAQ: BANR) or (“the company”) is a $16.4 billion asset bank holding company for Banner Bank (“the bank”) based in Walla Walla, WA with 135 retail branches and 13 LPOs in WA, OR, CA, ID, and UT.
The company underwent a $175 million equity recapitalization in 2010 following its GFC performance and the operating/financial profile is markedly different than the challenged savings bank it was entering the Global Financial Crisis (GFC) in 2008, as a revamped management team, led by the current CEO who joined in 2010, completely changed the operating strategy, improved risk management and culture, and supplemented organic growth with select acquisitions.
BANR, a relationship-focused super community bank, has completed five acquisitions over the past decade totaling more than $6 billion in assets, including the $4.5 billion acquisition of AmericaWest Bank in 2015, which expanded its footprint into Northern and Southern…

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