Type Public Total equity US$1.3B (Q2 2016) Total assets 9.9 billion USD (Q2 2016) Founded 1890 | Industry Commercial Banks Headquarters Walla Walla Revenue 225 million USD (2016) Parent organization Banner Corporation | |
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Traded as NASDAQ: BANR
S&P 600 Component
Russell 3000 Key people Mark J. Grescovich (President & CEO) Products Checking accounts
Savings
Commercial banking
Consumer lending
Construction loans
Home loans CEO Mark J Grescovich (Aug 2010–) Net income 38.1 million USD (Q2 2016) | ||
Banner Bank is a Washington-chartered commercial bank headquartered in Walla Walla, Washington, with roots that date back to 1890. The bank provides services in commercial real estate, construction, residential, agricultural and consumer loans. It also Company provides community banking services through its branches and loan offices located in Washington, Oregon, Idaho, California and Utah.
Contents
Banner Bank is a member of the Federal Home Loan Bank System and its deposits are insured by the Federal Deposit Insurance Corporation.
Banner Bank is a wholly owned subsidiary of Banner Corporation. Banner Corporation common stock is publicly traded on the NASDAQ Global Market® under the symbol "BANR".
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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.
Throughout the company’s history, Banner has experienced steady growth through organic, de novo expansion as well as through acquisitions. The most notable acquisition growth in recent years includes:
December 2006 - Islanders Bank of San Juan County, which continues to be separately chartered and managed.
May 2007 - F&M Bank of Spokane Valley, Washington, with 14 branches.
October 2007 - NCW Community Bank of Wenatchee, Washington.
March 2015 - Siuslaw Bank, a 10-branch bank headquartered in Florence, Oregon.
October 2015 - AmericanWest Bank of Spokane, Washington, adding 105 branches and expanding the bank’s footprint into Utah and California.
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) 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 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 commercial real estate 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. Banner is a very active small business lender and is an SBA Preferred Lender.
Commercial and business clients also benefit from treasury management services, international and trade finance, merchant services, commercial credit cards and other supplemental products and services.