Banner Corp. authorizes repurchase program of roughly 5% of common stock

Banner Corporation announced that its Board of Directors has authorized the repurchase of up to 1,729,199 shares of the Company’s common stock, which is approximately 5% of its issued and outstanding common stock. “We view our stock to be a compelling investment opportunity, and believe that repurchasing shares supports the creation of long-term shareholder value,” said Mark J. Grescovich, President and Chief Executive Officer. Under the repurchase program, shares may be repurchased by the Company in open market purchases. The extent to which the Company repurchases its shares and the timing of such repurchases will depend upon market conditions and other corporate considerations.