Banner Corporation Increases Quarterly Cash Dividend 17% to $0.21 Per Share, Schedules 1Q16 Conference Call and Webcast

WALLA WALLA, Wash., March 30, 2016 -- Banner Corporation (NASDAQ GSM:BANR), the parent company of Banner Bank and Islanders Bank, today announced that its Board of Directors increased its regular quarterly cash dividend 17% to $0.21 per share. The dividend will be payable April 20, 2016, to common shareholders of record on April 11, 2016. 

Banner Corporation also announced that it will report its first quarter 2016 results after the market closes on Monday, April 25, 2016. Management will host a conference call on Tuesday, April 26, 2016 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 11093182 or at www.bannerbank.com.

About the Company

On October 1, 2015, Banner Corporation completed the acquisition of AmericanWest Bank which was merged into Banner Bank, a transformational merger that brought together two financially strong, well-respected institutions and created a leading Western bank. Banner Corporation is now a $9.8 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, 2015. 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.

CONTACT: MARK J. GRESCOVICH, 
PRESIDENT & CEO
LLOYD W. BAKER, CFO
(509) 527-3636