Banner Corporation announces stock repurchase program

Banner Corporation (NASDAQ: BANR) has announced a stock repurchase program authorizing the repurchase of up to 1,729,199 shares of its common stock, representing 5% of its issued and outstanding shares. The Board of Directors approved the initiative, which will be executed through open market purchases. The timing and extent of repurchases will depend on market conditions and other corporate considerations.

Mark J. Grescovich, President and Chief Executive Officer, stated that the company views its stock as a compelling investment opportunity and believes the repurchase program supports long-term shareholder value. The company emphasized that the decision reflects its confidence in its financial position and strategic direction.

Banner Corporation, a $16.44 billion bank holding company, operates Banner Bank across four Western states, offering a range of deposit and loan services. The company noted that the press release includes forward-looking statements, which are subject to risks and uncertainties, and actual results may differ materially from expectations.

This repurchase program follows a similar announcement in 2024, when the company authorized the repurchase of approximately 5% of its then-issued shares.