Title : Banner Bank - Islanders Bank
Banner Bank - Islanders Bank
Banner Bank, the primary subsidiary of Banner Corporation, is a Washington-chartered commercial bank headquartered in Walla Walla, Washington. Founded as the National Building Loan & Trust Association in 1890, it is the oldest savings and loan institution in Washington. Banner Bank has a network of 89 branch offices and seven loan production centers in 29 counties, throughout Washington, Oregon, and Idaho.
The company offers Personal and Community Banking, Commercial Banking, and Real Estate Lending, among other financial services. A portion of the Banner Bank's construction and mortgage lending activities are conducted through its subsidiary, Community Financial Corporation, headquartered in Lake Oswego, Oregon. Banner Bank also has a sister company, Islanders Bank, also a Washington-chartered commercial bank located in San Juan County, Washington.
History
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Founded as the National Building Loan & Trust Association in 1890, it is the oldest savings and loan institution in Washington.
In October 2000, First Washington Bancorp (NASDAQ:Â FWWB) changed its name to Banner Corp and announced its 38 branches would all operate as Banner Bank; the Washington and Idaho branches had been operated under names such as First Savings Bank, Whatcom State Bank, Seaport Citizens Bank and Towne Bank.
In December 2006, Banner bought F&M Bank of Spokane, Washington, a century-old bank with 14 branches.
On July 2, 2010, the company announced it had raised about $162 million after issuing more than 85 million shares of stock at $2 per share. Less than a year later, Banner underwent a one-for-seven reverse stock split in order to make its stock "more attractive to institutional investors."
Services
Banner offers services including online banking and bill-pay, bank-by-phone, various types of consumer loans, IRA's/CD's, and credit cards. It emphasizes involvement in the communities in which it serves, and offers programs for corporation and employees.
Banner offers services tailored for the small- to medium-sized businesses; other services include commercial cards, cash management, international banking, merger and acquisition financing, night deposits, SBA lending, agriculture lending.
Real estate lending
Banner is an active participant in the secondary mortgage market. It offers home loans, commercial loans, builder financing, income property loans, and alternatives to foreclosures, as well as fixed- and adjustable-rate mortgages, equity lines of credit, multi-family loans, and numerous other programs for builders, speculators, and home-buyers.
Banner Bank was a participant in the Troubled Asset Relief Program; as of March 2011, it had troubled assets totaling $214,514,000, down from the $287,047,000 in troubled assets it had a year earlier.
References
External links
- Official website
- Community Financial Corporation
- Islanders Bank
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