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 o ...

-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. Becau ...

headquartered in

Walla Walla, Washington Walla Walla is a city in Walla Walla County, Washington, where it is the largest city and county seat. It had a population of 34,060 at the 2020 census, estimated to have decreased to 33,927 as of 2021. The population of the city and its two ...

, 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 b ...

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

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

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 W ...

and

California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the ...

. Banner Bank is a member of the

Federal Home Loan Bank The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide liquidity to the members of financial institutions to support housing finance and community investment. Overview The FHLBank System wa ...

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 cre ...

. (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 The Spokane Valley is a valley of the Spokane River through the southern Selkirk Mountains in the U.S. state of Washington. The valley is home to the cities of Spokane and its suburbs Spokane Valley, Liberty Lake, and Millwood. The valley i ...

(14 branches) in May 2007, NCW Community Bank of

Wenatchee Wenatchee ( ) is the county seat and largest city of Chelan County, Washington, United States. The population within the city limits in 2010 was 31,925, and was estimated to have increased to 34,360 as of 2019. Located in the north-central part ...

in October 2007, Siuslaw Bank of

Florence, Oregon Florence is a coastal city in Lane County, in the U.S. state of Oregon. It lies at the mouth of the Siuslaw River on the Pacific Ocean and about midway between Newport and Coos Bay along U.S. Route 101. As of the 2020 census, the city had a ...

(10 branches) in March 2015, AmericanWest Bank of

Spokane Spokane ( ) is the largest city and county seat of Spokane County, Washington, United States. It is in eastern Washington, along the Spokane River, adjacent to the Selkirk Mountains, and west of the Rocky Mountain foothills, south of the Canada ...

(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 its ...

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, ...

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 *Santa ...

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

Altabank Altabank is a full-service bank headquartered in American Fork, Utah, United States, that was formerly known as People's Intermountain Bank. Prior to its acquisition by Glacier Bancorp, Altabank was owned by a publicly held holding company, P ...

Services

Deposit products include checking, savings, money market accounts, IRAs and

Certificates of Deposit A certificate of deposit (CD) is a time deposit, a financial product commonly sold by banks, thrift institutions, and credit unions in the United States. CDs differ from savings accounts in that the CD has a specific, fixed term (often one, ...

. 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 proper ...

) 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 an ...

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