Banner Corporation Appoints Cheryl R. Bishop as Director
November 01, 2018 at 01:06 pm
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With the completion on November 1, 2018, of the transactions contemplated by the Agreement and Plan of Merger, dated as of July 25, 2018, by and between Skagit Bancorp Inc. and Banner Corporation, including the Merger of Skagit with and into Banner, with Banner as the surviving corporation in the Merger. Banner Corporation appointed Cheryl R. Bishop, the former Chief Executive Officer and director of Skagit, as a director to fill the newly-created vacancy. Ms. Bishop will serve for a term expiring at the 2019 annual meeting of Banner's stockholders, and will serve until her successor is duly elected and qualified or until her earlier resignation or removal. Ms. Bishop has been appointed to serve on the Risk Committee of the Board.
Banner Corporation is a bank holding company for Banner Bank (the Bank). The Bank is a chartered commercial bank in the State of Washington. The Bank is a regional bank that offers a variety of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas. The Banks primary business is that of traditional banking institutions, accepting deposits and originating loans in locations surrounding its offices in Washington, Oregon, California and Idaho. The Bank is also a participant in secondary loan markets, engaging in mortgage banking operations, through the origination and sale of one- to four-family and multifamily residential loans. Its lending activities include commercial business and commercial real estate loans, agriculture business loans, construction and land development loans, one- to four-family and multifamily residential loans, United States small business administration (SBA) loans and consumer loans.