Banner Bank
| Company type | Subsidiary |
|---|---|
| Industry | Commercial banking |
| Founded | 1890 |
| Headquarters | Walla Walla , United States |
Area served | Washington, Oregon, Idaho, California |
Key people | Mark J. Grescovich (President and CEO) |
| Products | Loans (commercial real estate, construction, residential, agriculture, consumer), deposit accounts (checking, savings, money market, IRAs, CDs), mortgage lending, commercial lending |
Number of employees | 2000 |
| Parent | Banner Corporation |
Banner Bank is a commercial banking institution chartered in Washington, with its main office located in Walla Walla, Washington. Established originally in 1890, the bank delivers a variety of financial products and services, including loans for commercial real estate, construction projects, residential properties, agriculture, and consumer needs. Its community banking operations extend through numerous branches and lending offices situated in Washington, Oregon, Idaho, and California.
As part of the Federal Home Loan Bank System, Banner Bank’s deposits benefit from insurance provided by the Federal Deposit Insurance Corporation. It functions as a fully owned subsidiary of Banner Corporation, whose common shares are publicly traded on the NASDAQ Global Market under the ticker "BANR".
Financial highlights include revenues reaching US$225 million in Q2 2016, net earnings of US$16.9 million as of Q1 2020, total assets amounting to US$12.78 billion at Q1 2020, and shareholders’ equity reported at US$1.3 billion during Q2 2016. The organization employs roughly 2,000 individuals and is led by President and CEO Mark J. Grescovich.
The bank’s strategic approach centers on catering to varied markets throughout the western United States by leveraging a comprehensive product suite and a robust regional footprint. This strategy underpins its competitive positioning and ongoing growth within the commercial banking sector.
History
The roots of Banner Bank date back to 1890 with the establishment of the National Building Loan & Trust Association in Walla Walla, Washington. Throughout the following century, the institution grew steadily and rebranded as Banner Corp in October 2000. This rebranding unified its 38 branches under the Banner Bank identity, replacing former regional names such as First Savings Bank and Seaport Citizens Bank.
In 2010, leadership transitioned with Mark J. Grescovich assuming the role of president for both Banner Corporation and Banner Bank, marking a phase focused on strategic expansion. That same year, Banner Corp augmented its capital base by issuing 75 million shares to finance growth efforts.
Banner Bank has actively pursued acquisitions to broaden its market presence and geographic coverage. Notable acquisitions include Islanders Bank (San Juan County) in 2006; F&M Bank (Spokane Valley) and NCW Community Bank (Wenatchee) both in 2007; Siuslaw Bank (Florence, Oregon) in 2015; AmericanWest Bank (Spokane plus locations in Utah and California) also in 2015; Skagit Bank (Burlington) in 2018; and AltaPacific Bank (Santa Rosa, California) in 2019. These transactions have significantly extended Banner’s reach across Washington, Oregon, California, and additional regions.
In October 2017, Banner divested its seven Utah branches to Bank of American Fork (currently Altabank), reflecting a strategic decision to realign its regional operations.
Services
Banner Bank offers an extensive range of deposit products including checking accounts, savings accounts, money market accounts, Individual Retirement Accounts (IRAs), and Certificates of Deposit (CDs). Its lending portfolio encompasses personal loans and lines of credit such as automobile loans, recreational vehicle financing, home equity loans, and home equity lines of credit (HELOCs).
Mortgage lending constitutes a significant portion of Banner’s loan offerings. Acting as a direct lender, the bank provides fixed-rate mortgages, adjustable-rate mortgages, VA loans, and programs designed specifically for first-time homebuyers. Customers can conveniently submit applications through Banner’s online platform.
For business clients spanning various asset sizes, Banner delivers traditional commercial lending options including term loans and lines of credit, financing for income-producing properties, merger and acquisition funding solutions, as well as agricultural loans. Dedicated teams specialize in commercial real estate construction financing and large multi-family housing developments. Additionally, the QuickStep loan program addresses smaller business borrowing requirements by offering accelerated processing timelines—often providing loan decisions within days following complete application submissions.