Banner Corp

BUTTERFIELD, CFO (509) 527-3636 NEWS RELEASE Banner Corporation Reports Net Income of $53.5 Million, or $1.54 Per Diluted Share, for Third Quarter 2025 Increases Quarterly Cash Dividend Declared by 4% to $0.50 Per Share Walla Walla, WA - October 15, 2025 - Banner Corporation (NASDAQ GSM BANR) ( Banner ), the parent company of Banner Bank, today reported net income of $53.5 million, or $1.54 per diluted share, for the third quarter of 2025, compared to $45.5 million, or $1.31 per diluted share, for the preceding quarter and $45.2 million, or $1.30 per diluted share, for the third quarter of 2024.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Banner announced that its Board of Directors increased its regular quarterly cash dividend by 4% to $0.50 per share payable November 14, 2025, to common shareholders of record on November 4, 2025.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Dividends paid to shareholders were $0.48 per share in the quarter ended September 30, 2025.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Repurchased 250,000 shares of Banner common stock during the third quarter of 2025 at an average price of $63.11 per share.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

The average rate paid on borrowings decreased 29 basis points to 4.18% in the third quarter of 2025, compared to 4.47% in the preceding quarter, and decreased compared to 5.08% in the third quarter a year ago, primarily due to declines in both market interest rates and the average balance of borrowings.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

The total cost of funding liabilities decreased three basis points to 1.57% in the third quarter of 2025, compared to 1.60% in the preceding quarter, primarily due to a decrease in the average balance of FHLB advances, as the increase in deposits was used to pay down borrowings.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Banner s third quarter performance reflects the continued strength of our super community bank strategy, which focuses on building client relationships, preserving a strong funding base, and delivering exceptional service while sustaining a moderate risk profile, said Mark Grescovich, President and CEO.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

The strategic investments we have made across the organization are generating meaningful returns and are further strengthening Banner for long-term success.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Forward-looking statements may relate to, among other things, future financial performance, strategic plans or objectives, revenues or earnings projections, and other financial or operational information.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

Bureau of Economic Analysis, October 2025 Growing revenue Our super community bank value proposition Broad product offerings serving middle market, small business and consumer client base Decision-making as close to client as possible Delivery channels aligned to maximize tactical execution of strategic plan Community investment 7 Growing revenue Guard and protect our reputation Best in Customer Satisfaction for Retail Banking in the Northwest J.

SEC original ↗Banner Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 15, 2025

The amendments in this ASU are intended to clarify certain aspects of the guidance on hedge accounting and to address several incremental hedge accounting issues arising from the global reference rate reform initiative.

SEC original ↗Banner Corp — 10-Q Quarterly report10-QAug 4, 2026

These statements are inherently subject to numerous risks and uncertainties, including ongoing market volatility and evolving global conditions, which may cause actual results to differ materially from those expressed or implied.

SEC original ↗Banner Corp — Earnings release (8-K exhibit)EX-99Oct 15, 2025

These forward-looking statements are subject to several risks and uncertainties and actual results may differ materially from those discussed today.

SEC original ↗Banner Corp — Presentation / slide deck (8-K exhibit)EX-99Oct 15, 2025

Forward-looking statements are inherently subject to numerous risks and uncertainties, including ongoing market volatility and evolving global conditions, which may cause actual results to differ materially from those expressed or implied.

SEC original ↗Banner Corp — 10-Q Quarterly report10-QAug 4, 2026

In light of these risks, uncertainties and assumptions, the forward-looking statements discussed in this report might not occur, and you should not put undue reliance on any forward-looking statements.

SEC original ↗Banner Corp — 10-Q Quarterly report10-QAug 4, 2026