Banner Corporation Declares $0.20 Quarterly Cash Dividend
Walla Walla, WA – April 23, 2008 – Banner Corporation (NASDAQ GSM: BANR), the parent company of Banner Bank and Islanders Bank, today announced its Board of Directors declared a regular quarterly cash dividend of $0.20 per share, the same as in the previous quarter. The dividend will be paid July 10, 2008, to shareholders of record on June 30, 2008.
“Cash dividends are just one way we are working to maximize the return on investment for our shareholders,” said D. Michael Jones, President and CEO. This payment is Banner’s 51st consecutive quarterly cash dividend paid since Banner instituted regular quarterly cash dividends in 1996.
On April 30, 2008, Banner plans to report first quarter 2008 earnings after the market closes and will host a conference the following day, May 1, at 8:00 a.m. PDT.
About Banner Corporation
Banner Corporation is a $4.5 billion bank holding company operating two commercial banks in Washington, Oregon and Idaho. Banner serves the Pacific Northwest region with a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. Visit Banner Bank on the Web at www.bannerbank.com.
Statements concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements, which are subject to a number of risks and uncertainties that are beyond the Company's control and might cause actual results to differ materially from the expectations and stated objectives. Factors which could cause actual results to differ materially include, but are not limited to, regional and general economic conditions, changes in interest rates, deposit flows, demand for mortgages and other loans, real estate values, competition, loan delinquency rates, changes in accounting principles, practices, policies or guidelines, changes in legislation or regulation, other economic, competitive, governmental, regulatory and technological factors affecting operations, pricing, products and services and Banner's ability to successfully resolve the outstanding credit issues and recover check kiting losses. Accordingly, these factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements. Banner undertakes no responsibility to update or revise any forward-looking statements.