Banner Bank is a

Washington Washington commonly refers to: * Washington (state), United States * Washington, D.C., the capital of the United States ** A metonym for the federal government of the United States ** Washington metropolitan area, the metropolitan area centered on ...

-chartered commercial

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

headquartered in Walla Walla, Washington, with roots that date back to 1890. The bank provides services in

commercial real estate Commercial property, also called commercial real estate, investment property or income property, is real estate (buildings or land) intended to generate a profit, either from capital gains or rental income. Commercial property includes office bu ...

, construction, residential, agricultural and consumer loans. It also provides community banking services through its branches and loan offices located in

Oregon Oregon () is a U.S. state, state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington (state), Washington, while the Snake River delineates much of it ...

Idaho Idaho ( ) is a state in the Pacific Northwest region of the Western United States. To the north, it shares a small portion of the Canada–United States border with the province of British Columbia. It borders the states of Montana and Wyom ...

and

California California is a U.S. state, state in the Western United States, located along the West Coast of the United States, Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the List of states and territori ...

. Banner Bank is a member of the Federal Home Loan Bank System and its deposits are insured by the

Federal Deposit Insurance Corporation The Federal Deposit Insurance Corporation (FDIC) is one of two agencies that supply deposit insurance to depositors in American depository institutions, the other being the National Credit Union Administration, which regulates and insures cred ...

. (Due to URL issues, link requires and additional click on the "Banner Bank" link.) Banner Bank is a wholly owned subsidiary of Banner Corporation. Banner Corporation common stock is publicly traded on the

NASDAQ The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

Global Market® under the symbol "BANR".

History

Banner's roots date back to 1890, when the National Building Loan & Trust Association was founded in Walla Walla, Washington. The bank grew over the following century and in October 2000 changed its name to Banner Corp and announced its 38 branches would all operate as Banner Bank. Previously, the Washington and Idaho branches had operated under separate brands such as First Savings Bank, Whatcom State Bank, Seaport Citizens Bank and Towne Bank. In 2010, Mark J. Grescovich was named president of Banner Corporation and Banner Bank. A few months later, Banner Corp unloaded 75 million of its shares to raise capital. Banner Bank acquired Islanders Bank of San Juan County in December 2006, F&M Bank of Spokane Valley (14 branches) in May 2007, NCW Community Bank of Wenatchee in October 2007, Siuslaw Bank of Florence, Oregon (10 branches) in March 2015, AmericanWest Bank of Spokane (105 branches, including in

Utah Utah ( , ) is a state in the Mountain West subregion of the Western United States. Utah is a landlocked U.S. state bordered to its east by Colorado, to its northeast by Wyoming, to its north by Idaho, to its south by Arizona, and to it ...

and

) in October 2015, Skagit Bank of

Burlington Burlington may refer to: Places Canada Geography * Burlington, Newfoundland and Labrador * Burlington, Nova Scotia * Burlington, Ontario, the most populous city with the name "Burlington" * Burlington, Prince Edward Island * Burlington Bay, no ...

in November 2018, AltaPacific Bank in

Santa Rosa Santa Rosa is the Italian, Portuguese and Spanish name for Saint Rose. Santa Rosa may also refer to: Places Argentina *Santa Rosa, Mendoza, a city * Santa Rosa, Tinogasta, Catamarca * Santa Rosa, Valle Viejo, Catamarca *Santa Rosa, La Pampa * Sa ...

in Q4 of 2019. In October 2017, Banner Bank sold all of its seven Utah branches to Bank of American Fork (now Altabank).

Services

Deposit products include checking, savings, money market accounts, IRAs and Certificates of Deposit. Related to lending, consumers can access personal loans and lines of credit, including auto, RV, home equity loans and home equity lines of credit (

HELOC A home equity line of credit, or HELOC ( /ˈhiːˌlɒk/ ''HEE-lok''), is a revolving type of secured loan in which the lender agrees to lend a maximum amount within an agreed period (called a term), where the collateral is the borrower's propert ...

) among others. Home lending is a significant portion of Banner's overall lending, and the bank is a direct financing source (non-broker). Clients can access all types of home loans including, fixed-rate, adjustable rate,

Veteran's Administration The United States Department of Veterans Affairs (VA) is a Cabinet-level executive branch department of the federal government charged with providing life-long healthcare services to eligible military veterans at the 170 VA medical centers and ...

loans, first-time home buyer programs and more. Clients can apply online directly from the Banner Bank website. The bank offers solutions for business and commercial banking clients of all asset sizes. This includes traditional commercial loans and lines, income property loans, merger and acquisition financing, and agricultural lending. Banner also has lending teams specializing in

builder financing and large-scale multi-family lending. Additionally, Banner has developed a QuickStep loan program to offer businesses with smaller lending needs a swift application to funding channel—with decisions often in just a few days from completed application.

References

{{NASDAQ Financial-100 Companies based in Walla Walla County, Washington Economy of the Northwestern United States Lake Oswego, Oregon San Juan County, Washington American companies established in 1890 Banks established in 1890 Banks based in Washington (state) Companies listed on the Nasdaq