Banner Corp. (BANR) Renews 5% Buyback Authorization

Banner Corporation (NASDAQ: BANR), the parent company of Banner Bank and Islanders Bank, today announced that its Board of Directors has renewed its authorization to repurchase up to 5% of its common stock, or 1,658,245 shares. Under the plan, 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.

“Having the option to repurchase shares continues to be an effective capital management tool for building long-term shareholder value,” said Mark J. Grescovich, Banner’s President and Chief Executive Officer.

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