BANNER Business Summary

Banner Corp (BANR) operates as the bank holding company for Banner Bank, a regional financial institution that generates revenue primarily through net interest income derived from a diversified portfolio of commercial, mortgage, and consumer loans funded by a low-cost core deposit base. The company’s primary business segments include commercial banking, which serves middle-market firms and small businesses; mortgage banking, focused on residential lending and secondary market sales; and consumer banking, providing retail services across the Pacific Northwest and Northern California. As of early 2026, Banner Corp maintains a robust market position as a "super community bank," leveraging its relationship-driven model to compete against larger regional and national peers. Its primary direct competitors include Columbia Banking System (COLB), WaFd Bank (WAFD), and First Merchants Corp (FRME), with Banner distinguishing itself through high-touch local decision-making and a conservative credit culture that has sustained its top-tier status on Forbes' list of America's Best Banks. Originally rooted in the 1890-founded National Building Loan & Trust Association, the modern executive team is led by President and CEO Mark J. Grescovich, who has steered the company since 2010 following a distinguished career at FirstMerit Corporation. The leadership team includes Executive Vice President and CFO Robert G. Butterfield, a CPA with over 25 years of financial services expertise promoted to the role in 2023, and COO James M. Costa, who joined in 2021 and assumed the operating lead in 2024. Technology and digital strategy are overseen by CIO Janet M. Brown, while Jill M. Rice serves as Chief Credit Officer. The company is backed by major institutional investors including BlackRock, Vanguard, and Dimensional Fund Advisors. Its Board of Directors, chaired by Ellen R.M. Boyer, recently expanded to include Millicent Tracey in late 2025, further strengthening its governance in digital payments and strategic risk management.