May 24, 2024

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Ellen Boyer and John Pedersen Sign up for Banner Company Board of Directors Nasdaq:BANR

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WALLA WALLA, Clean., Feb. 25, 2021 (World NEWSWIRE) — Banner Company (NASDAQ GSM: BANR) (“Banner”), the father or mother company of Banner Financial institution, right now declared that Ellen R.M. Boyer and John Pedersen have been appointed to the Board of Administrators successful February 24, 2021. Boyer and Pedersen have been also appointed to the Board of Administrators of Banner Financial institution.

Boyer serves as Chief Economic Officer of Logic20/20, a company and engineering consulting business headquartered in Seattle, Washington. Prior to becoming a member of Logic20/20 in 2014, Boyer held CFO and/or COO roles at quite a few businesses in the Seattle location. She has more than 25 several years of finance and operational working experience in a wide variety of industries, which includes engineering, fiscal solutions and health care. Prior to assuming CFO/COO roles commencing in 1994, she was an Audit Senior Manager at PriceWaterhouseCoopers, exactly where she worked for 12 a long time. Boyer has intensive encounter in strategic arranging, mergers and acquisitions, governance issues, organizational efficiency, and audit and economic matters.

Boyer attained bachelor’s degrees from Oregon Point out University. She maintains an lively Licensed Specialist Accountant license and will sit on the Audit and Payment and Human Cash Committees.

Pedersen was Government Vice President and Main Danger Officer of Metropolis Nationwide Bank from 2006 till 2019, acquiring been promoted from the Senior Vice President role he experienced held due to the fact 2004. Prior to his retirement from City Nationwide, Pedersen accrued more than three many years of progressive professional banking credit history and threat administration tasks and considerable experience in setting up and handling possibility management capabilities in a regional bank setting. Pedersen is experienced in strategic arranging such as change-about and expansion techniques. He has a comprehensive comprehending of quite a few facets of banking, which include retail, smaller business, industrial real estate, vendor banking, buyer lending, mortgage loan banking and middle market place lending.

Pedersen began his profession in governing administration and held staff members and management positions with the Business office of the Comptroller of the Currency and the Business office of Thrift Supervision. Just after governing administration service, he managed a large array of chance management routines for a number of monetary institutions, including To start with Interstate Bancorp, KeyCorp, Wachovia and Financial institution of the West. Lively in the group, Pedersen is involved with numerous philanthropic companies that aid the micro-financing of little business enterprise entrepreneurs domestically and abroad. He attained a bachelor’s degree from the College of Oklahoma. Mr. Pedersen will sit on the Possibility and Credit rating Risk Committees.

“We are quite delighted that Ellen and John are signing up for our boards of administrators. They are the two exceedingly properly acknowledged and extremely revered in our enterprise communities,” mentioned Mark J. Grescovich, President and CEO. “Ellen and John provide various strengths and precious insights that will be of good worth to our business as we continue on to situation ourselves for upcoming results.”

About the Firm

Banner Company is a $15.03 billion financial institution holding corporation running a commercial bank in four Western states as a result of a community of branches giving a comprehensive vary of deposit providers and small business, professional true estate, development, residential, agricultural and consumer financial loans. Visit Banner Bank on the Web at www.bannerbank.com.

Forward-Hunting Statements

When applied in this press release and in other paperwork submitted with or furnished to the Securities and Exchange Fee (the “SEC”), in press releases or other community stockholder communications, or in oral statements built with the acceptance of an approved government officer, the phrases or phrases “may,” “believe,” “will,” “will possible outcome,” “are anticipated to,” “will keep on,” “is expected,” “estimate,” “project,” “plans,” “potential,” or similar expressions are meant to identify “forward-seeking statements” inside of the that means of the Non-public Securities Litigation Reform Act of 1995. You are cautioned not to area undue reliance on any forward-searching statements, which speak only as of the date this sort of statements are created and primarily based only on information and facts then actually acknowledged to Banner.  Banner does not undertake and precisely disclaims any obligation to revise any ahead-wanting statements to replicate the event of anticipated or unanticipated situations or conditions soon after the day of these kinds of statements. These statements may perhaps relate to foreseeable future economical effectiveness, strategic ideas or goals, revenues or earnings projections, or other economical info.  By their mother nature, these statements are topic to a lot of uncertainties that could result in genuine outcomes to differ materially from these predicted in the statements and could negatively have an affect on Banner’s working and stock value functionality.

The COVID-19, pandemic is adversely impacting us, our clients, counterparties, workers, and third-get together assistance suppliers, and the final extent of the impacts on our small business, economic situation, success of functions, liquidity, and potential clients is unsure. Continued deterioration in common business enterprise and economic conditions, including more boosts in unemployment costs, or turbulence in domestic or global money markets could adversely impact our revenues and the values of our assets and liabilities, decrease the availability of funding, direct to a tightening of credit history, and further raise inventory rate volatility. In addition, alterations to statutes, regulations, or regulatory policies or methods as a end result of, or in response to COVID-19, could have an effect on us in substantial and unpredictable means. Other variables that could lead to real success to vary materially from the success anticipated or projected include things like, but are not minimal to, the following: (1) the credit history hazards of lending activities, such as variations in the stage and way of bank loan delinquencies and write-offs and alterations in estimates of the adequacy of the allowance for credit rating losses, which could necessitate further provisions for credit rating losses, ensuing each from financial loans originated and financial loans acquired from other fiscal establishments (2) benefits of examinations by regulatory authorities, which includes the probability that any this kind of regulatory authority may perhaps, among the other items, have to have boosts in the allowance for credit score losses or creating down of belongings or impose restrictions or penalties with regard to Banner’s things to do (3) competitive pressures between depository establishments (4) curiosity level actions and their influence on purchaser conduct and internet desire margin (5) the affect of repricing and competitors’ pricing initiatives on financial loan and deposit solutions (6) fluctuations in authentic estate values (7) the skill to adapt correctly to technological modifications to meet up with customers’ requires and developments in the market spot (8) the ability to obtain charge-successful funding (9) variations in monetary markets (10) improvements in financial problems in standard and in Washington, Idaho, Oregon and California in distinct (11) the charges, outcomes and outcomes of litigation (12) laws or regulatory improvements, including but not constrained to the affect of the Dodd-Frank Act and restrictions adopted thereunder, alterations in regulatory funds requirements pursuant to the implementation of the Basel III money requirements, other governmental initiatives impacting the monetary products and services sector and alterations in federal and/or condition tax laws or interpretations thereof by taxing authorities (13) modifications in accounting rules, guidelines or pointers (14) long term acquisitions by Banner of other depository institutions or strains of business enterprise (15) potential goodwill impairment thanks to adjustments in Banner’s company, adjustments in current market disorders, including as a final result of the COVID-19 pandemic or other factors and (16) other financial, aggressive, governmental, regulatory, and technological elements influencing our functions, pricing, products and providers and other dangers detailed from time to time in our filings with the Securities and Exchange Fee including our Quarterly Stories on Form 10-Q and our Yearly Studies on Kind 10-K.

Contact: MARK J. GRESCOVICH,
  PRESIDENT & CEO
  PETER J. CONNER, CFO
  (509) 527-3636

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