UPDATE - Banner Corporation Announces Quarterly Cash Dividend of $0.25 Per Share and Declares Special Cash Dividend of $1.00 Per Share, Schedules 2Q17 Conference Call and Webcast

WALLA WALLA, Wash., June 28, 2017 -- Banner Corporation (NASDAQ GSM:BANR), the parent company of Banner Bank and Islanders Bank, today announced that its Board of Directors declared a regular quarterly cash dividend of $0.25 per share and a special cash dividend in the amount of $1.00 per share.  The dividends will be payable July 18, 2017, to common shareholders of record on July 10, 2017. 

“In addition to our regular cash dividend, our solid financial performance provides us with the opportunity to pay a special cash dividend, while still maintaining a very strong capital position to support growth and contribute to our moderate risk profile,” stated Mark J. Grescovich, President and Chief Executive Officer. 

Banner Corporation also announced that it will report its second quarter 2017 results after the market closes on Wednesday, July 26, 2017.  Management will host a conference call on Thursday, July 27, 2017 at 8:00 a.m. PDT (11:00 a.m. EDT) to discuss the results.  The call will also be broadcast live via the internet.

Interested investors may listen to the call live at www.bannerbank.com.  Investment professionals are invited to dial (866) 235-9915 to participate in the call.  A replay will be available for one week at (877) 344-7529 using access code 10109479 or at www.bannerbank.com.

About the Company

Banner Corporation is a $10.1 billion bank holding company operating two commercial banks in five Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans.  Visit Banner Bank on the Web at www.bannerbank.com.

This press release contains statements that the Company believes are “forward-looking statements.” These statements relate to the Company’s financial condition, results of operations, plans, objectives, future performance or business. You should not place undue reliance on these statements, as they are subject to risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our risk factors contained in Banner Corporation’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016.  Such forward-looking statements speak only as of the date of this release. Banner Corporation expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company’s expectations of results or any change in events.

Transmitted on Globe Newswire on June 28, 2017 at 6:00 a.m. PDT.

Contact: Mark J. Grescovich, 
President & CEO
Lloyd W. Baker, CFO
(509) 527-3636