Banner Bank

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Banner Bank
TypePublic (NASDAQBANR, Russell 3000[1])
IndustryCommercial Banks
Founded1890 (as National Building Loan & Trust Association)
HeadquartersWalla Walla, Washington, United States
ProductsChecking accounts
Savings
Commercial banking
Consumer lending
Construction loans
Consumer finance
RevenueIncreaseUS$247M (FY 2010)[2]
Net incomeDecreaseUS$-69.7M (FY 2010)[2]
Total assetsDecreaseUS$4.41B (FY 2010)[3]
Total equityIncreaseUS$511M (FY 2010)[3]
Employees1,011 full-time, 87 part-time (2009)[dated info]
WebsiteOfficial website
 
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Banner Bank
TypePublic (NASDAQBANR, Russell 3000[1])
IndustryCommercial Banks
Founded1890 (as National Building Loan & Trust Association)
HeadquartersWalla Walla, Washington, United States
ProductsChecking accounts
Savings
Commercial banking
Consumer lending
Construction loans
Consumer finance
RevenueIncreaseUS$247M (FY 2010)[2]
Net incomeDecreaseUS$-69.7M (FY 2010)[2]
Total assetsDecreaseUS$4.41B (FY 2010)[3]
Total equityIncreaseUS$511M (FY 2010)[3]
Employees1,011 full-time, 87 part-time (2009)[dated info]
WebsiteOfficial website
A Banner Bank branch in Hillsboro, Oregon

Banner Bank, the primary subsidiary of Banner Corporation, is a Washington-chartered commercial bank headquartered in Walla Walla, Washington. Founded as the National Building Loan & Trust Association in 1890, it is the oldest savings and loan institution in Washington.[4] Banner Bank has a network of 89 branch offices and seven loan production centers in 29 counties, throughout Washington, Oregon, and Idaho.[5] The company offers Personal and Community Banking, Commercial Banking, and Real Estate Lending, among other financial services. A portion of the Banner Bank's construction and mortgage lending activities are conducted through its subsidiary, Community Financial Corporation, headquartered in Lake Oswego, Oregon.[5] Banner Bank also has a sister company, Islanders Bank,[6] also a Washington-chartered commercial bank located in San Juan County, Washington.

Services[edit]

Banner offers services including online banking and bill-pay, bank-by-phone, various types of consumer loans, IRA's/CD's, and credit cards. It emphasizes involvement in the communities in which it serves,[citation needed] and offers programs for corporation and employees.

Banner offers services tailored for the small- to medium-sized businesses; other services include commercial cards, cash management, international banking, merger and acquisition financing, night deposits, SBA lending, agriculture lending.[7]

Real estate lending[edit]

Banner is an active participant in the secondary mortgage market.[citation needed] It offers home loans, commercial loans, builder financing, income property loans, and alternatives to foreclosures, as well as fixed- and adjustable-rate mortgages, equity lines of credit, multi-family loans, and numerous other programs for builders, speculators, and home-buyers.

Banner Bank was a participant in the Troubled Asset Relief Program; as of March 2011, it had troubled assets totaling $214,514,000, down from the $287,047,000 in troubled assets it had a year earlier.[8]

History[edit]

In October 2000, First Washington Bancorp (NASDAQFWWB) changed its name to Banner Corp and announced its 38 branches would all operate as Banner Bank; the Washington and Idaho branches had been operated under names such as First Savings Bank, Whatcom State Bank, Seaport Citizens Bank and Towne Bank.[9]

In December 2006, Banner bought F&M Bank of Spokane, Washington, a century-old bank with 14 branches.[10]

On July 2, 2010, the company announced it had raised about $162 million after issuing more than 85 million shares of stock at $2 per share.[11] Less than a year later, Banner underwent a one-for-seven reverse stock split in order to make its stock "more attractive to institutional investors."[12]

References[edit]

  1. ^ "Seven from state to join Russell 3000 Index". The News Tribune. June 15, 2011. Retrieved 2011-07-14. 
  2. ^ a b Banner Corporation (BANR) annual SEC income statement filing via Wikinvest
  3. ^ a b Banner Corporation (BANR) annual SEC balance sheet filing via Wikinvest
  4. ^ "Walla Walla Valley Chamber of Commerce". wwvchamber.com. Archived from the original on 26 April 2011. Retrieved 2011-04-23. 
  5. ^ a b "Securities and Exchange Commission (SEC) Filings". Banner Bank. Retrieved 2011-04-23. 
  6. ^ "About Islanders Bank". Islanders Bank. Retrieved 2011-04-23. 
  7. ^ "Business Solutions". Banner Bank. Retrieved 2011-04-23. 
  8. ^ Investigative Reporting Workshop. "Banner Bank". MSNBC. Retrieved 2011-07-14. 
  9. ^ "First Washington Bancorp becoming Banner Corp.". Puget Sound Business Journal. October 27, 2000. Retrieved 2011-07-14. 
  10. ^ "Banner buying F&M Bank for $98.8M". Portland Business Journal. December 12, 2006. Retrieved 2011-07-14. 
  11. ^ "Banner raises $162M in stock offering". Puget Sound Business Journal. July 2, 2010. Retrieved 2011-07-14. 
  12. ^ Kelly Gilblom (May 4, 2011). "Banner Corp approves reverse stock split". Puget Sound Business Journal. Retrieved 2011-07-14. 

External links[edit]