false0000946673December 312021Q100009466732021-01-012021-03-31xbrli:shares00009466732021-04-30iso4217:USD00009466732021-03-3100009466732020-12-310000946673us-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-31iso4217:USDxbrli:shares0000946673banr:VotingCommonStockMember2021-03-310000946673banr:VotingCommonStockMember2020-12-310000946673us-gaap:NonvotingCommonStockMember2021-03-310000946673us-gaap:NonvotingCommonStockMember2020-12-3100009466732020-01-012020-03-310000946673us-gaap:CommonStockMember2019-12-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2019-12-310000946673us-gaap:RetainedEarningsMember2019-12-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2019-12-3100009466732019-12-310000946673us-gaap:RetainedEarningsMember2020-01-012020-03-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-01-012020-03-310000946673us-gaap:CommonStockMember2020-01-012020-03-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-01-012020-03-310000946673us-gaap:CommonStockMember2020-03-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-03-310000946673us-gaap:RetainedEarningsMember2020-03-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-03-3100009466732020-03-310000946673us-gaap:RetainedEarningsMember2020-04-012020-06-3000009466732020-04-012020-06-300000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-04-012020-06-300000946673us-gaap:CommonStockMember2020-04-012020-06-300000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-04-012020-06-300000946673us-gaap:CommonStockMember2020-06-300000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-06-300000946673us-gaap:RetainedEarningsMember2020-06-300000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-06-3000009466732020-06-300000946673us-gaap:RetainedEarningsMember2020-07-012020-09-3000009466732020-07-012020-09-300000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-07-012020-09-300000946673us-gaap:CommonStockMember2020-07-012020-09-300000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-07-012020-09-300000946673us-gaap:CommonStockMember2020-09-300000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-09-300000946673us-gaap:RetainedEarningsMember2020-09-300000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-09-3000009466732020-09-300000946673us-gaap:RetainedEarningsMember2020-10-012020-12-3100009466732020-10-012020-12-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-10-012020-12-310000946673us-gaap:CommonStockMember2020-10-012020-12-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-10-012020-12-310000946673us-gaap:CommonStockMember2020-12-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2020-12-310000946673us-gaap:RetainedEarningsMember2020-12-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000946673us-gaap:RetainedEarningsMember2021-01-012021-03-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000946673us-gaap:CommonStockMember2021-01-012021-03-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-01-012021-03-310000946673us-gaap:CommonStockMember2021-03-310000946673us-gaap:CommonStockIncludingAdditionalPaidInCapitalMember2021-03-310000946673us-gaap:RetainedEarningsMember2021-03-310000946673us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000946673us-gaap:CorporateBondSecuritiesMember2021-03-310000946673us-gaap:USTreasuryAndGovernmentMember2021-03-310000946673us-gaap:MunicipalBondsMember2021-03-310000946673us-gaap:MortgageBackedSecuritiesMember2021-03-310000946673us-gaap:AssetBackedSecuritiesMember2021-03-310000946673us-gaap:CorporateBondSecuritiesMember2020-12-310000946673us-gaap:USTreasuryAndGovernmentMember2020-12-310000946673us-gaap:MunicipalBondsMember2020-12-310000946673us-gaap:MortgageBackedSecuritiesMember2020-12-310000946673us-gaap:AssetBackedSecuritiesMember2020-12-31banr:numberOfSecuritiesbanr:numberOfSalesOfSecurities0000946673us-gaap:USTreasuryAndGovernmentMemberbanr:StandardPoorsAAAtoARatingMember2021-03-310000946673us-gaap:MunicipalBondsMemberbanr:StandardPoorsAAAtoARatingMember2021-03-310000946673banr:StandardPoorsAAAtoARatingMemberus-gaap:CorporateBondSecuritiesMember2021-03-310000946673banr:StandardPoorsAAAtoARatingMemberus-gaap:MortgageBackedSecuritiesMember2021-03-310000946673banr:StandardPoorsAAAtoARatingMember2021-03-310000946673banr:StandardPoorsNotRatedMemberus-gaap:USTreasuryAndGovernmentMember2021-03-310000946673us-gaap:MunicipalBondsMemberbanr:StandardPoorsNotRatedMember2021-03-310000946673banr:StandardPoorsNotRatedMemberus-gaap:CorporateBondSecuritiesMember2021-03-310000946673banr:StandardPoorsNotRatedMemberus-gaap:MortgageBackedSecuritiesMember2021-03-310000946673banr:StandardPoorsNotRatedMember2021-03-310000946673us-gaap:USTreasuryAndGovernmentMemberbanr:StandardPoorsAAAtoARatingMember2020-12-310000946673us-gaap:MunicipalBondsMemberbanr:StandardPoorsAAAtoARatingMember2020-12-310000946673banr:StandardPoorsAAAtoARatingMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000946673banr:StandardPoorsAAAtoARatingMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000946673banr:StandardPoorsAAAtoARatingMember2020-12-310000946673banr:StandardPoorsNotRatedMemberus-gaap:USTreasuryAndGovernmentMember2020-12-310000946673us-gaap:MunicipalBondsMemberbanr:StandardPoorsNotRatedMember2020-12-310000946673banr:StandardPoorsNotRatedMemberus-gaap:CorporateBondSecuritiesMember2020-12-310000946673banr:StandardPoorsNotRatedMemberus-gaap:MortgageBackedSecuritiesMember2020-12-310000946673banr:StandardPoorsNotRatedMember2020-12-310000946673us-gaap:HeldtomaturitySecuritiesMember2020-12-310000946673us-gaap:USTreasuryAndGovernmentMember2021-01-012021-03-310000946673us-gaap:MunicipalBondsMember2021-01-012021-03-310000946673us-gaap:CorporateBondSecuritiesMember2021-01-012021-03-310000946673us-gaap:MortgageBackedSecuritiesMember2021-01-012021-03-310000946673us-gaap:HeldtomaturitySecuritiesMember2021-01-012021-03-310000946673us-gaap:HeldtomaturitySecuritiesMember2021-03-310000946673us-gaap:USTreasuryAndGovernmentMember2019-12-310000946673us-gaap:MunicipalBondsMember2019-12-310000946673us-gaap:CorporateBondSecuritiesMember2019-12-310000946673us-gaap:MortgageBackedSecuritiesMember2019-12-310000946673us-gaap:HeldtomaturitySecuritiesMember2019-12-310000946673us-gaap:USTreasuryAndGovernmentMember2020-01-012020-03-310000946673us-gaap:MunicipalBondsMember2020-01-012020-03-310000946673us-gaap:CorporateBondSecuritiesMember2020-01-012020-03-310000946673us-gaap:MortgageBackedSecuritiesMember2020-01-012020-03-310000946673us-gaap:HeldtomaturitySecuritiesMember2020-01-012020-03-310000946673us-gaap:USTreasuryAndGovernmentMember2020-03-310000946673us-gaap:MunicipalBondsMember2020-03-310000946673us-gaap:CorporateBondSecuritiesMember2020-03-310000946673us-gaap:MortgageBackedSecuritiesMember2020-03-310000946673us-gaap:HeldtomaturitySecuritiesMember2020-03-310000946673banr:OwnerOccupiedCommercialRealEstateMember2021-03-31xbrli:pure0000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673banr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673banr:SmallBalanceCommercialRealEstateLoansMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:SmallBalanceCommercialRealEstateLoansMember2020-12-310000946673banr:MultifamilyRealEstateMember2021-03-310000946673banr:MultifamilyRealEstateMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673banr:CommercialConstructionMember2021-03-310000946673banr:CommercialConstructionMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673banr:MultifamilyConstructionMember2021-03-310000946673banr:MultifamilyConstructionMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673banr:OneToFourFamilyConstructionMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673banr:LandandLandDevelopmentTypeMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:LandandLandDevelopmentTypeMember2020-12-310000946673banr:CommercialBusinessMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:CommercialBusinessMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673banr:AgriculturalBusinessMember2021-03-310000946673banr:AgriculturalBusinessMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673banr:OneToFourFamilyResidentialMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673banr:ConsumerSecuredByOneToFourFamilyMember2021-03-310000946673banr:ConsumerSecuredByOneToFourFamilyMembersrt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember2020-12-310000946673us-gaap:ConsumerLoanMember2021-03-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustedBalanceMemberus-gaap:ConsumerLoanMember2020-12-31banr:contract0000946673banr:CommercialBusinessMember2020-01-012020-03-310000946673us-gaap:PassMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:SubstandardMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:PassMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:SubstandardMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673banr:MultifamilyRealEstateMemberus-gaap:PassMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:MultifamilyRealEstateMember2021-03-310000946673us-gaap:SubstandardMemberbanr:MultifamilyRealEstateMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:MultifamilyRealEstateMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:MultifamilyRealEstateMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:PassMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:SpecialMentionMember2021-03-310000946673us-gaap:SubstandardMemberbanr:CommercialConstructionMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:DoubtfulMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:CommercialConstructionMember2021-03-310000946673banr:MultifamilyConstructionMemberus-gaap:PassMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:MultifamilyConstructionMember2021-03-310000946673us-gaap:SubstandardMemberbanr:MultifamilyConstructionMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:MultifamilyConstructionMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:MultifamilyConstructionMember2021-03-310000946673us-gaap:PassMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:SubstandardMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:LandAndLandImprovementsMemberus-gaap:PassMember2021-03-310000946673us-gaap:SpecialMentionMemberus-gaap:LandAndLandImprovementsMember2021-03-310000946673us-gaap:SubstandardMemberus-gaap:LandAndLandImprovementsMember2021-03-310000946673us-gaap:DoubtfulMemberus-gaap:LandAndLandImprovementsMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:LandAndLandImprovementsMember2021-03-310000946673us-gaap:LandAndLandImprovementsMember2021-03-310000946673banr:CommercialBusinessMemberus-gaap:PassMember2021-03-310000946673us-gaap:SpecialMentionMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:SubstandardMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:DoubtfulMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:CommercialBusinessMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:PassMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:SpecialMentionMember2021-03-310000946673us-gaap:SubstandardMemberbanr:AgriculturalBusinessMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:DoubtfulMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMember2021-03-310000946673us-gaap:PassMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:SubstandardMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673banr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:PassMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:SubstandardMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673banr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673banr:MultifamilyRealEstateMemberus-gaap:PassMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:MultifamilyRealEstateMember2020-12-310000946673us-gaap:SubstandardMemberbanr:MultifamilyRealEstateMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:MultifamilyRealEstateMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:MultifamilyRealEstateMember2020-12-310000946673banr:MultifamilyRealEstateMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:PassMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:SpecialMentionMember2020-12-310000946673us-gaap:SubstandardMemberbanr:CommercialConstructionMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:DoubtfulMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:CommercialConstructionMember2020-12-310000946673banr:CommercialConstructionMember2020-12-310000946673banr:MultifamilyConstructionMemberus-gaap:PassMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:MultifamilyConstructionMember2020-12-310000946673us-gaap:SubstandardMemberbanr:MultifamilyConstructionMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:MultifamilyConstructionMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:MultifamilyConstructionMember2020-12-310000946673banr:MultifamilyConstructionMember2020-12-310000946673us-gaap:PassMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:SubstandardMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673banr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:LandAndLandImprovementsMemberus-gaap:PassMember2020-12-310000946673us-gaap:SpecialMentionMemberus-gaap:LandAndLandImprovementsMember2020-12-310000946673us-gaap:SubstandardMemberus-gaap:LandAndLandImprovementsMember2020-12-310000946673us-gaap:DoubtfulMemberus-gaap:LandAndLandImprovementsMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:LandAndLandImprovementsMember2020-12-310000946673us-gaap:LandAndLandImprovementsMember2020-12-310000946673banr:CommercialBusinessMemberus-gaap:PassMember2020-12-310000946673us-gaap:SpecialMentionMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:SubstandardMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:DoubtfulMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:UnlikelyToBeCollectedFinancingReceivableMemberbanr:CommercialBusinessMember2020-12-310000946673banr:CommercialBusinessMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:PassMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:SpecialMentionMember2020-12-310000946673us-gaap:SubstandardMemberbanr:AgriculturalBusinessMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:DoubtfulMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMember2020-12-310000946673banr:AgriculturalBusinessMember2020-12-310000946673banr:FinanceReceivableNotPastDueMemberbanr:SmallBalanceCREMember2021-03-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:SmallBalanceCREMember2021-03-310000946673banr:FinanceReceivableNotPastDueMemberbanr:SmallCreditScoredBusinessLoansMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:FinanceReceivableNotPastDueMemberbanr:OneToFourFamilyResidentialMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2021-03-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2021-03-310000946673banr:FinanceReceivableNotPastDueMemberus-gaap:HomeEquityMember2021-03-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:HomeEquityMember2021-03-310000946673banr:FinanceReceivableNotPastDueMemberus-gaap:ConsumerBorrowerMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMember2021-03-310000946673us-gaap:ConsumerBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:ConsumerBorrowerMember2021-03-310000946673banr:FinanceReceivableNotPastDueMemberbanr:SmallBalanceCREMember2020-12-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:SmallBalanceCREMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:SmallBalanceCREMember2020-12-310000946673banr:FinanceReceivableNotPastDueMemberbanr:SmallCreditScoredBusinessLoansMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMember2020-12-310000946673banr:FinanceReceivableNotPastDueMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673banr:OneToFourFamilyResidentialMember2020-12-310000946673banr:FinanceReceivableNotPastDueMemberus-gaap:HomeEquityMember2020-12-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673us-gaap:HomeEquityMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:HomeEquityMember2020-12-310000946673banr:FinanceReceivableNotPastDueMemberus-gaap:ConsumerBorrowerMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerBorrowerMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerBorrowerMember2020-12-310000946673us-gaap:ConsumerBorrowerMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:ConsumerBorrowerMember2020-12-310000946673us-gaap:RealEstateLoanMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:AccountsReceivableMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:EquipmentMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:InventoriesMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:RealEstateLoanMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:AccountsReceivableMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:EquipmentMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:InventoriesMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:RealEstateLoanMemberbanr:SmallBalanceCREMember2021-03-310000946673banr:SmallBalanceCREMemberus-gaap:AccountsReceivableMember2021-03-310000946673us-gaap:EquipmentMemberbanr:SmallBalanceCREMember2021-03-310000946673us-gaap:InventoriesMemberbanr:SmallBalanceCREMember2021-03-310000946673us-gaap:RealEstateLoanMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:AccountsReceivableMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:EquipmentMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:InventoriesMemberbanr:CommercialBusinessMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:RealEstateLoanMember2021-03-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:AccountsReceivableMember2021-03-310000946673us-gaap:EquipmentMemberbanr:SmallCreditScoredBusinessLoansMember2021-03-310000946673us-gaap:InventoriesMemberbanr:SmallCreditScoredBusinessLoansMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:RealEstateLoanMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:AccountsReceivableMember2021-03-310000946673us-gaap:EquipmentMemberbanr:AgriculturalBusinessMember2021-03-310000946673us-gaap:InventoriesMemberbanr:AgriculturalBusinessMember2021-03-310000946673us-gaap:RealEstateLoanMember2021-03-310000946673us-gaap:AccountsReceivableMember2021-03-310000946673us-gaap:EquipmentMember2021-03-310000946673us-gaap:InventoriesMember2021-03-310000946673us-gaap:RealEstateLoanMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:AccountsReceivableMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:EquipmentMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:InventoriesMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:RealEstateLoanMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:AccountsReceivableMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:EquipmentMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:InventoriesMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:RealEstateLoanMemberbanr:SmallBalanceCREMember2020-12-310000946673banr:SmallBalanceCREMemberus-gaap:AccountsReceivableMember2020-12-310000946673us-gaap:EquipmentMemberbanr:SmallBalanceCREMember2020-12-310000946673us-gaap:InventoriesMemberbanr:SmallBalanceCREMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:RealEstateLoanMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:AccountsReceivableMember2020-12-310000946673us-gaap:EquipmentMemberbanr:ResidentialLandAndLandDevelopmentMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:InventoriesMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMember2020-12-310000946673us-gaap:RealEstateLoanMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:AccountsReceivableMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:EquipmentMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:InventoriesMemberbanr:CommercialBusinessMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:RealEstateLoanMember2020-12-310000946673banr:SmallCreditScoredBusinessLoansMemberus-gaap:AccountsReceivableMember2020-12-310000946673us-gaap:EquipmentMemberbanr:SmallCreditScoredBusinessLoansMember2020-12-310000946673us-gaap:InventoriesMemberbanr:SmallCreditScoredBusinessLoansMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:RealEstateLoanMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:AccountsReceivableMember2020-12-310000946673us-gaap:EquipmentMemberbanr:AgriculturalBusinessMember2020-12-310000946673us-gaap:InventoriesMemberbanr:AgriculturalBusinessMember2020-12-310000946673us-gaap:RealEstateLoanMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:AccountsReceivableMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:EquipmentMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:InventoriesMemberbanr:OneToFourFamilyResidentialMember2020-12-310000946673us-gaap:RealEstateLoanMember2020-12-310000946673us-gaap:AccountsReceivableMember2020-12-310000946673us-gaap:EquipmentMember2020-12-310000946673us-gaap:InventoriesMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:MultifamilyRealEstateMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:MultifamilyRealEstateMember2021-03-310000946673banr:MultifamilyRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:MultifamilyConstructionMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:MultifamilyConstructionMember2021-03-310000946673banr:MultifamilyConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OneToFourFamilyConstructionMember2021-03-310000946673banr:OneToFourFamilyConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:ResidentialLandAndLandDevelopmentMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:CommercialBusinessMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:CommercialBusinessMember2021-03-310000946673banr:CommercialBusinessMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerLoanMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerLoanMember2021-03-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2021-03-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:OwnerOccupiedCommercialRealEstateMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberbanr:InvestmentPropertiesCommericalRealEstateMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:MultifamilyRealEstateMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:MultifamilyRealEstateMember2020-12-310000946673banr:MultifamilyRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:CommercialConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:MultifamilyConstructionMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:MultifamilyConstructionMember2020-12-310000946673banr:MultifamilyConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:OneToFourFamilyConstructionMember2020-12-310000946673banr:OneToFourFamilyConstructionMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:ResidentialLandAndLandDevelopmentMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberbanr:CommercialBusinessMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberbanr:CommercialBusinessMember2020-12-310000946673banr:CommercialBusinessMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:AgriculturalBusinessMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673banr:ConsumerSecuredByOneToFourFamilyMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673banr:ConsumerSecuredByOneToFourFamilyMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:ConsumerLoanMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:ConsumerLoanMember2020-12-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:ConsumerLoanMember2020-12-310000946673us-gaap:ConsumerLoanMember2020-12-310000946673us-gaap:FinancingReceivables30To59DaysPastDueMember2020-12-310000946673us-gaap:FinancingReceivables60To89DaysPastDueMember2020-12-310000946673us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2020-12-310000946673us-gaap:CommercialRealEstateMember2020-12-310000946673banr:ConstructionAndLandMember2020-12-310000946673banr:TotalConsumerMember2020-12-310000946673us-gaap:UnallocatedFinancingReceivablesMember2020-12-310000946673us-gaap:CommercialRealEstateMember2021-01-012021-03-310000946673banr:MultifamilyRealEstateMember2021-01-012021-03-310000946673banr:ConstructionAndLandMember2021-01-012021-03-310000946673banr:CommercialBusinessMember2021-01-012021-03-310000946673banr:AgriculturalBusinessMember2021-01-012021-03-310000946673banr:OneToFourFamilyResidentialMember2021-01-012021-03-310000946673banr:TotalConsumerMember2021-01-012021-03-310000946673us-gaap:UnallocatedFinancingReceivablesMember2021-01-012021-03-310000946673us-gaap:CommercialRealEstateMember2021-03-310000946673banr:ConstructionAndLandMember2021-03-310000946673banr:TotalConsumerMember2021-03-310000946673us-gaap:UnallocatedFinancingReceivablesMember2021-03-310000946673us-gaap:CommercialRealEstateMember2019-12-310000946673banr:MultifamilyRealEstateMember2019-12-310000946673banr:ConstructionAndLandMember2019-12-310000946673banr:CommercialBusinessMember2019-12-310000946673banr:AgriculturalBusinessMember2019-12-310000946673banr:OneToFourFamilyResidentialMember2019-12-310000946673banr:TotalConsumerMember2019-12-310000946673us-gaap:UnallocatedFinancingReceivablesMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:CommercialRealEstateMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberbanr:MultifamilyRealEstateMember2019-12-310000946673banr:ConstructionAndLandMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberbanr:CommercialBusinessMember2019-12-310000946673banr:AgriculturalBusinessMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberbanr:OneToFourFamilyResidentialMember2019-12-310000946673banr:TotalConsumerMembersrt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMemberus-gaap:UnallocatedFinancingReceivablesMember2019-12-310000946673srt:CumulativeEffectPeriodOfAdoptionAdjustmentMember2019-12-310000946673us-gaap:CommercialRealEstateMember2020-01-012020-03-310000946673banr:MultifamilyRealEstateMember2020-01-012020-03-310000946673banr:ConstructionAndLandMember2020-01-012020-03-310000946673banr:AgriculturalBusinessMember2020-01-012020-03-310000946673banr:OneToFourFamilyResidentialMember2020-01-012020-03-310000946673banr:TotalConsumerMember2020-01-012020-03-310000946673us-gaap:UnallocatedFinancingReceivablesMember2020-01-012020-03-310000946673us-gaap:CommercialRealEstateMember2020-03-310000946673banr:MultifamilyRealEstateMember2020-03-310000946673banr:ConstructionAndLandMember2020-03-310000946673banr:CommercialBusinessMember2020-03-310000946673banr:AgriculturalBusinessMember2020-03-310000946673banr:OneToFourFamilyResidentialMember2020-03-310000946673banr:TotalConsumerMember2020-03-310000946673us-gaap:UnallocatedFinancingReceivablesMember2020-03-310000946673banr:OneToFourFamilyResidentialMember2021-03-310000946673us-gaap:CoreDepositsMember2019-12-310000946673us-gaap:CoreDepositsMember2020-01-012020-12-3100009466732020-01-012020-12-310000946673us-gaap:CoreDepositsMember2020-12-310000946673us-gaap:CoreDepositsMember2021-01-012021-03-310000946673us-gaap:CoreDepositsMember2021-03-310000946673us-gaap:ServicingContractsMember2021-03-310000946673us-gaap:ServicingContractsMember2020-12-310000946673us-gaap:ServicingContractsMember2019-12-310000946673us-gaap:ServicingContractsMember2021-01-012021-03-310000946673us-gaap:ServicingContractsMember2020-01-012020-03-310000946673us-gaap:ServicingContractsMember2020-03-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMember2021-03-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMember2021-03-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-03-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2021-03-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-12-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel2Member2020-12-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-03-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2021-03-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2020-12-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueInputsLevel3Member2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2020-12-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberbanr:InterestRateForwardSalesCommitmentsMember2021-03-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberbanr:InterestRateForwardSalesCommitmentsMember2021-03-310000946673us-gaap:CarryingReportedAmountFairValueDisclosureMemberbanr:InterestRateForwardSalesCommitmentsMember2020-12-310000946673us-gaap:EstimateOfFairValueFairValueDisclosureMemberbanr:InterestRateForwardSalesCommitmentsMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:LoansMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CollateralizedDebtObligationsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel2Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:USTreasuryAndGovernmentMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MunicipalBondsMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:CorporateBondSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:MortgageBackedSecuritiesOtherMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:AssetBackedSecuritiesMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:LoansMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:LoansMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateContractMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:FairValueInputsLevel3Memberus-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateContractMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueMeasurementsRecurringMember2020-12-310000946673us-gaap:IncomeApproachValuationTechniqueMemberus-gaap:JuniorSubordinatedDebtMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-03-310000946673us-gaap:IncomeApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberbanr:TrustPreferredSecuritiesMember2021-01-012021-03-310000946673us-gaap:IncomeApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberbanr:TrustPreferredSecuritiesMember2020-01-012020-12-310000946673banr:DiscounttoappraisedvalueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberbanr:ImpairedLoansMember2021-01-012021-03-310000946673banr:DiscounttoappraisedvalueMemberus-gaap:FairValueInputsLevel3Memberbanr:ImpairedLoansMembersrt:MaximumMember2021-01-012021-03-310000946673banr:DiscounttoappraisedvalueMemberus-gaap:FairValueInputsLevel3Membersrt:MinimumMemberbanr:ImpairedLoansMember2020-01-012020-12-310000946673banr:DiscounttoappraisedvalueMemberus-gaap:FairValueInputsLevel3Memberbanr:ImpairedLoansMembersrt:MaximumMember2020-01-012020-12-310000946673banr:DiscounttoappraisedvalueMemberbanr:RealEstateOwnedMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-03-310000946673banr:DiscounttoappraisedvalueMemberbanr:RealEstateOwnedMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-12-310000946673srt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberbanr:ValuationPricingModelMemberus-gaap:InterestRateLockCommitmentsMember2021-01-012021-03-310000946673us-gaap:IncomeApproachValuationTechniqueMembersrt:WeightedAverageMemberus-gaap:FairValueInputsLevel3Memberus-gaap:ServicingContractsMember2020-01-012020-12-310000946673banr:TrustPreferredSecuritiesMember2020-12-310000946673us-gaap:JuniorSubordinatedDebtMember2020-12-310000946673banr:TrustPreferredSecuritiesMember2021-01-012021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-01-012021-03-310000946673us-gaap:JuniorSubordinatedDebtMember2021-01-012021-03-310000946673banr:TrustPreferredSecuritiesMember2021-03-310000946673us-gaap:JuniorSubordinatedDebtMember2021-03-310000946673banr:TrustPreferredSecuritiesMember2019-12-310000946673us-gaap:JuniorSubordinatedDebtMember2019-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2019-12-310000946673banr:TrustPreferredSecuritiesMember2020-01-012020-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-01-012020-03-310000946673us-gaap:JuniorSubordinatedDebtMember2020-01-012020-03-310000946673banr:TrustPreferredSecuritiesMember2020-03-310000946673us-gaap:JuniorSubordinatedDebtMember2020-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2020-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMember2021-03-310000946673us-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel2Member2020-12-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-12-310000946673us-gaap:FairValueMeasurementsNonrecurringMember2020-12-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberbanr:ImpairedLoansMember2021-01-012021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberbanr:ImpairedLoansMember2020-01-012020-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateMember2021-01-012021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Memberus-gaap:RealEstateMember2020-01-012020-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-03-310000946673us-gaap:FairValueMeasurementsNonrecurringMemberus-gaap:FairValueInputsLevel3Member2020-01-012020-03-310000946673banr:TwoThousandFourteenOmnibusIncentivePlanMember2014-04-220000946673banr:TwoThousandFourteenOmnibusIncentivePlanMemberus-gaap:RestrictedStockMember2014-04-222020-09-300000946673us-gaap:RestrictedStockUnitsRSUMemberbanr:TwoThousandFourteenOmnibusIncentivePlanMember2014-04-222020-09-300000946673us-gaap:RestrictedStockUnitsRSUMemberbanr:TwoThousandFourteenOmnibusIncentivePlanMember2014-04-222019-06-300000946673banr:TwoThousandEighteenOmnibusIncentivePlan2018Member2018-04-240000946673us-gaap:RestrictedStockUnitsRSUMemberbanr:TwoThousandEighteenOmnibusIncentivePlan2018Member2018-04-242020-09-300000946673us-gaap:RestrictedStockMember2021-01-012021-03-310000946673us-gaap:RestrictedStockMember2020-01-012020-03-310000946673us-gaap:RestrictedStockMember2021-03-310000946673us-gaap:CommitmentsToExtendCreditMember2021-03-310000946673us-gaap:CommitmentsToExtendCreditMember2020-12-310000946673us-gaap:FinancialStandbyLetterOfCreditMember2021-03-310000946673us-gaap:FinancialStandbyLetterOfCreditMember2020-12-310000946673us-gaap:LoanOriginationCommitmentsMember2021-03-310000946673us-gaap:LoanOriginationCommitmentsMember2020-12-310000946673banr:RiskParticipationAgreementMember2021-03-310000946673banr:RiskParticipationAgreementMember2020-12-310000946673banr:LoansHeldForSaleOriginationCommitmentsMember2021-03-310000946673banr:LoansHeldForSaleOriginationCommitmentsMember2020-12-310000946673banr:CommitmentstoSellLoansSecuredbyonetofourResidentialPropertiesMember2021-03-310000946673banr:CommitmentstoSellLoansSecuredbyonetofourResidentialPropertiesMember2020-12-310000946673banr:CommitmentsToSellMortgageBackedSecuritiesMember2021-03-310000946673banr:CommitmentsToSellMortgageBackedSecuritiesMember2020-12-310000946673banr:AmountfundedoutofatotalcommitmenttoinvestMember2021-03-310000946673banr:AmountunfundedoutofatotalcommitmenttoinvestMember2021-03-310000946673banr:AmountfundedoutofatotalcommitmenttoinvestMember2020-12-310000946673banr:AmountunfundedoutofatotalcommitmenttoinvestMember2020-12-310000946673srt:MinimumMember2021-01-012021-03-310000946673srt:MaximumMember2021-01-012021-03-310000946673banr:CommitmentstoSellLoansSecuredbyonetofourResidentialPropertiesMember2021-01-012021-03-310000946673banr:CommitmentstoSellLoansSecuredbyonetofourResidentialPropertiesMember2020-01-012020-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:LoansReceivableMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:LoansReceivableMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2021-03-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:DesignatedAsHedgingInstrumentMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:InterestRateSwapMemberus-gaap:NondesignatedMember2020-12-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:NondesignatedMember2021-03-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2021-03-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:NondesignatedMember2020-12-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2020-12-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2021-03-310000946673banr:MortgageLoanCommitmentsMemberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:OtherAssetsMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:OtherAssetsMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:ForwardContractsMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:NondesignatedMember2021-03-310000946673us-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:NondesignatedMember2020-12-310000946673us-gaap:OtherAssetsMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMember2020-12-310000946673us-gaap:InterestRateSwapMemberus-gaap:LoansReceivableMemberus-gaap:NondesignatedMember2021-03-310000946673us-gaap:InterestRateSwapMemberus-gaap:LoansReceivableMemberus-gaap:NondesignatedMember2020-12-310000946673banr:MortgageLoanCommitmentsMemberbanr:MortgageBankingOperationsMemberus-gaap:NondesignatedMember2021-01-012021-03-310000946673banr:MortgageLoanCommitmentsMemberbanr:MortgageBankingOperationsMemberus-gaap:NondesignatedMember2020-01-012020-03-310000946673banr:MortgageBankingOperationsMemberbanr:ForwardSalesContractsMemberus-gaap:NondesignatedMember2021-01-012021-03-310000946673banr:MortgageBankingOperationsMemberbanr:ForwardSalesContractsMemberus-gaap:NondesignatedMember2020-01-012020-03-310000946673us-gaap:NondesignatedMember2021-01-012021-03-310000946673us-gaap:NondesignatedMember2020-01-012020-03-310000946673us-gaap:InterestRateSwapMember2020-12-310000946673us-gaap:InterestRateSwapMember2021-03-310000946673us-gaap:DepositAccountMember2021-01-012021-03-310000946673us-gaap:DepositAccountMember2020-01-012020-03-310000946673us-gaap:CreditCardMerchantDiscountMember2021-01-012021-03-310000946673us-gaap:CreditCardMerchantDiscountMember2020-01-012020-03-31

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-Q 
(Mark One)

x    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED March 31, 2021
OR
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM ______________ to ______________
 Commission File Number 000-26584
BANNER CORPORATION
(Exact name of registrant as specified in its charter)
Washington91-1691604
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification Number)
10 South First Avenue, Walla Walla, Washington 99362
(Address of principal executive offices and zip code)
Registrant’s telephone number, including area code:  (509) 527-3636
Securities registered pursuant to Section 12(b) of the Act
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $.01 per shareBANRThe NASDAQ Stock Market LLC
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
 Yes[x]No[  ]
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
 Yes[x]No[  ]
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company.  See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer[x]Accelerated filer    [ ]Non-accelerated filer   [  ]Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).YesNo[x]
APPLICABLE ONLY TO CORPORATE ISSUERS
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.
Title of class:As of April 30, 2021
Common Stock, $.01 par value per share
34,797,764 shares
 
1


BANNER CORPORATION AND SUBSIDIARIES

Table of Contents
PART I – FINANCIAL INFORMATION
Item 1 – Financial Statements.  The Unaudited Condensed Consolidated Financial Statements of Banner Corporation and Subsidiaries filed as a part of the report are as follows:
Consolidated Statements of Financial Condition as of March 31, 2021 and December 31, 2020
Consolidated Statements of Operations for the Three Months Ended March 31, 2021 and 2020
Consolidated Statements of Comprehensive Income for the Three Months Ended March 31, 2021 and 2020
Consolidated Statements of Changes in Shareholders’ Equity for the Three Months Ended March 31, 2021 and the Year Ended December 31, 2020
Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2021 and 2020
Selected Notes to the Consolidated Financial Statements
Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations 
Executive Overview
Comparison of Financial Condition at March 31, 2021 and December 31, 2020
Comparison of Results of Operations for the Three Months Ended March 31, 2021 and 2020
Asset Quality
Liquidity and Capital Resources
Capital Requirements
Item 3 – Quantitative and Qualitative Disclosures About Market Risk 
Market Risk and Asset/Liability Management
Sensitivity Analysis
Item 4 – Controls and Procedures
PART II – OTHER INFORMATION 
Item 1 – Legal Proceedings
Item 1A – Risk Factors
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds
Item 3 – Defaults upon Senior Securities
Item 4 – Mine Safety Disclosures
Item 5 – Other Information
Item 6 – Exhibits
SIGNATURES
2


Special Note Regarding Forward-Looking Statements

Certain matters in this Form 10-Q constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements relate to our financial condition, liquidity, results of operations, plans, objectives, future performance or business.  Forward-looking statements are not statements of historical fact, are based on certain assumptions and are generally identified by use of the words “believes,” “expects,” “anticipates,” “estimates,” “forecasts,” “intends,” “plans,” “targets,” “potentially,” “probably,” “projects,” “outlook” or similar expressions or future or conditional verbs such as “may,” “will,” “should,” “would” and “could.”  Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, assumptions and statements about future economic performance and projections of financial items.  These forward looking statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from the results anticipated or implied by our forward-looking statements. The novel coronavirus (COVID-19) pandemic, is adversely affecting us, our clients, counterparties, employees, and third-party service providers, and the ultimate extent of the impacts on our business, financial position, results of operations, liquidity, and prospects is uncertain. Deterioration in general business and economic conditions, including increases in unemployment rates, or turbulence in domestic or global financial markets could adversely affect our revenues and the values of our assets and liabilities, reduce the availability of funding, lead to a tightening of credit, and increase stock price volatility. In addition, changes to statutes, regulations, or regulatory policies or practices as a result of, or in response to COVID-19, could affect us in substantial and unpredictable ways. Other factors that could cause actual results to differ materially from the results anticipated or projected include, but are not limited to, the following: the credit risks of lending activities, including changes in the level and trend of loan delinquencies and write-offs and changes in estimates of the adequacy of the allowance for credit losses and provisions for credit losses; the ability to manage loan delinquency rates; competitive pressures among financial services companies; changes in consumer spending or borrowing and spending habits; interest rate movements generally and the relative differences between short and long-term interest rates, loan and deposit interest rates, net interest margin and funding sources; uncertainty regarding the future of the London Interbank Offered Rate (LIBOR), and the potential transition away from LIBOR toward new interest rate benchmarks; the impact of repricing and competitors’ pricing initiatives on loan and deposit products; fluctuations in the demand for loans, the number of unsold homes, land and other properties and fluctuations in real estate values; the ability to adapt successfully to technological changes to meet clients’ needs and developments in the marketplace; the ability to access cost-effective funding; the ability to control operating costs and expenses; the use of estimates in determining fair value of certain assets and liabilities, which estimates may prove to be incorrect and result in significant changes in valuation; staffing fluctuations in response to product demand or the implementation of corporate strategies that affect employees, and potential associated charges; disruptions, security breaches or other adverse events, failures or interruptions in, or attacks on, information technology systems or on the third-party vendors who perform critical processing functions; changes in financial markets; changes in economic conditions in general and in Washington, Idaho, Oregon and California in particular; secondary market conditions for loans and the ability to sell loans in the secondary market; the costs, effects and outcomes of litigation; legislation or regulatory changes or reforms, including changes in regulatory policies and principles, or the interpretation of regulatory capital or other rules, results of safety and soundness and compliance examinations by the Board of Governors of the Federal Reserve System (the Federal Reserve), the Federal Deposit Insurance Corporation (the FDIC), the Washington State Department of Financial Institutions, Division of Banks, (the Washington DFI) or other regulatory authorities, including the possibility that any such regulatory authority may, among other things, require restitution or institute an informal or formal enforcement action which could require an increase in reserves for loan losses, write-downs of assets or changes in regulatory capital position, or affect the ability to borrow funds, or maintain or increase deposits, or impose additional requirements and restrictions, any of which could adversely affect liquidity and earnings; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; adverse changes in the securities markets; the inability of key third-party providers to perform their obligations; changes in accounting principles, policies or guidelines, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; the economic impact of war or any terrorist activities; other economic, competitive, governmental, regulatory and technological factors affecting operations, pricing, products and services; including the Coronavirus Aid, Relief, and Economic Security Act of 2020 (the CARES Act) and the Consolidated Appropriations Act, 2021 the (CAA); future acquisitions by Banner of other depository institutions or lines of business; and future goodwill impairment due to changes in Banner’s business, changes in market conditions, including as a result of the COVID-19 pandemic, including recent vaccination efforts, or other factors; and other risks detailed from time to time in our filings with the U.S. Securities and Exchange Commission (SEC), including this report on Form 10-Q.  Any forward-looking statements are based upon management’s beliefs and assumptions at the time they are made.  We do not undertake and specifically disclaim any obligation to update any forward-looking statements included in this report or the reasons why actual results could differ from those contained in such statements, whether as a result of new information, future events or otherwise.  These risks could cause our actual results to differ materially from those expressed in any forward-looking statements by, or on behalf of, us. Further, many of these risks and uncertainties are currently amplified by and may continue to be amplified by or may, in the future, be amplified by, the COVID-19 pandemic.  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.

As used throughout this report, the terms “we,” “our,” “us,” or the “Company” refer to Banner Corporation and its consolidated subsidiaries, unless the context otherwise requires.  All references to “Banner” refer to Banner Corporation and those to “the Bank” refer to its wholly-owned subsidiary, Banner Bank.


3


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited) (In thousands, except shares)
March 31, 2021 and December 31, 2020
ASSETSMarch 31,
2021
December 31,
2020
Cash and due from banks$296,184 $311,899 
Interest bearing deposits1,353,743 922,284 
Total cash and cash equivalents1,649,927 1,234,183 
Securities—trading25,039 24,980 
Securities—available-for-sale, amortized cost $2,996,902 and $2,256,189, respectively
2,989,760 2,322,593 
Securities—held-to-maturity, net of allowance for credit losses of $98 and $94, respectively, fair value $459,595 and $448,681, respectively
441,857 421,713 
     Total securities3,456,656 2,769,286 
Federal Home Loan Bank (FHLB) stock14,001 16,358 
Loans held for sale (includes $60.0 million and $133.6 million, at fair value, respectively)
135,263 243,795 
Loans receivable9,947,697 9,870,982 
Allowance for credit losses - loans(156,054)(167,279)
Net loans receivable
9,791,643 9,703,703 
Accrued interest receivable49,214 46,617 
Real estate owned (REO), held for sale, net340 816 
Property and equipment, net161,268 164,556 
Goodwill373,121 373,121 
Other intangibles, net19,715 21,426 
Bank-owned life insurance (BOLI)191,388 191,830 
Deferred tax assets, net83,178 65,742 
Operating lease right-of-use assets56,217 55,367 
Other assets137,861 144,823 
Total assets
$16,119,792 $15,031,623 
LIABILITIES
Deposits:
Non-interest-bearing$5,994,693 $5,492,924 
Interest-bearing transaction and savings accounts6,647,196 6,159,052 
Interest-bearing certificates906,978 915,320 
Total deposits
13,548,867 12,567,296 
Advances from FHLB100,000 150,000 
Other borrowings216,260 184,785 
Subordinated notes, net98,290 98,201 
Junior subordinated debentures at fair value (issued in connection with Trust Preferred Securities)117,248 116,974 
Operating lease liabilities59,884 59,343 
Accrued expenses and other liabilities313,801 143,300 
Deferred compensation46,625 45,460 
Total liabilities
14,500,975 13,365,359 
COMMITMENTS AND CONTINGENCIES (Note 12)
SHAREHOLDERS’ EQUITY
Preferred stock - $0.01 par value per share, 500,000 shares authorized; no shares outstanding at March 31, 2021 and December 31, 2020
  
Common stock and paid in capital - $0.01 par value per share, 50,000,000 shares authorized; 34,735,343 shares issued and outstanding at March 31, 2021; 35,159,200 shares issued and outstanding at December 31, 2020
1,326,269 1,349,879 
Common stock (non-voting) and paid in capital - $0.01 par value per share, 5,000,000 shares authorized; no shares issued and outstanding at March 31, 2021; no shares issued and outstanding at December 31, 2020
  
Retained earnings279,582 247,316 
Carrying value of shares held in trust for stock-based compensation plans(7,614)(7,636)
Liability for common stock issued to stock related compensation plans7,614 7,636 
Accumulated other comprehensive income12,966 69,069 
Total shareholders’ equity1,618,817 1,666,264 
Total liabilities and shareholders’ equity$16,119,792 $15,031,623 
See Selected Notes to the Consolidated Financial Statements
4


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited) (In thousands, except shares and per share amounts)
For the Three Months Ended March 31, 2021 and 2020
Three Months Ended
March 31,
20212020
INTEREST INCOME:
Loans receivable$108,924 $118,926 
Mortgage-backed securities9,371 9,137 
Securities and cash equivalents6,226 3,602 
Total interest income
124,521 131,665 
INTEREST EXPENSE:
Deposits3,609 8,750 
FHLB advances934 2,064 
Other borrowings109 116 
Subordinated debt2,208 1,477 
Total interest expense
6,860 12,407 
Net interest income117,661 119,258 
(RECAPTURE)/PROVISION FOR CREDIT LOSSES(9,251)23,470 
Net interest income after (recapture)/provision for credit losses126,912 95,788 
NON-INTEREST INCOME:
Deposit fees and other service charges8,939 9,803 
Mortgage banking operations11,440 10,191 
Bank-owned life insurance (BOLI)1,307 1,050 
Miscellaneous2,042 2,639 
23,728 23,683 
Net gain on sale of securities485 78 
Net change in valuation of financial instruments carried at fair value59 (4,596)
Total non-interest income
24,272 19,165 
NON-INTEREST EXPENSE:
Salary and employee benefits64,819 59,908 
Less capitalized loan origination costs(9,696)(5,806)
Occupancy and equipment12,989 13,107 
Information/computer data services6,203 5,810 
Payment and card processing expenses4,326 4,240 
Professional and legal expenses3,328 1,919 
Advertising and marketing1,263 1,827 
Deposit insurance expense1,533 1,635 
State/municipal business and use taxes1,065 984 
REO operations, net(242)100 
Amortization of core deposit intangibles1,711 2,001 
Miscellaneous5,509 6,357 
 
92,808 92,082 
COVID-19 expenses148 239 
Merger and acquisition related expenses571 1,142 
Total non-interest expense
93,527 93,463 
Income before provision for income taxes57,657 21,490 
PROVISION FOR INCOME TAXES10,802 4,608 
NET INCOME$46,855 $16,882 
Earnings per common share:
Basic$1.34 $0.48 
Diluted$1.33 $0.47 
Cumulative dividends declared per common share$0.41 $0.41 
Weighted average number of common shares outstanding:
Basic
34,973,383 35,463,541 
Diluted
35,303,483 35,640,463 
See Selected Notes to the Consolidated Financial Statements
5


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited) (In thousands)
For the Three Months Ended March 31, 2021 and 2020
Three Months Ended
March 31,
20212020
NET INCOME$46,855 $16,882 
OTHER COMPREHENSIVE INCOME, NET OF INCOME TAXES:
Unrealized holding (loss) gain on available-for-sale securities arising during the period(73,107)42,178 
Income tax benefit (expense) related to available-for-sale securities unrealized holding (loss) gain17,546 (10,123)
Reclassification for net gain on available-for-sale securities realized in earnings(439)(78)
Income tax expense related to available-for-sale securities realized in earnings105 19 
Changes in fair value of junior subordinated debentures related to instrument specific credit risk
(274)19,509 
Income tax benefit (expense) related to junior subordinated debentures66 (4,682)
Other comprehensive (loss) income(56,103)46,823 
COMPREHENSIVE (LOSS) INCOME$(9,248)$63,705 

See Selected Notes to the Consolidated Financial Statements
6


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
(Unaudited) (In thousands, except shares)
For the Three Months Ended March 31, 2021 and the Year Ended December 31, 2020
Common Stock
and Paid in Capital
Retained EarningsAccumulated
Other Comprehensive Income
Shareholders’
Equity
SharesAmount
Balance, January 1, 202035,751,576 $1,373,940 $186,838 $33,256 $1,594,034 
New credit standard (Accounting Standards Codification (ASC) 326) - impact in year of adoption(11,215)(11,215)
Net income16,882 16,882 
Other comprehensive income, net of income tax
46,823 46,823 
Accrual of dividends on common stock ($0.41/share)
(14,583)(14,583)
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered
(24,337)1,534 1,534 
Repurchase of common stock
(624,780)(31,775)(31,775)
Balance, March 31, 202035,102,459 $1,343,699 $177,922 $80,079 $1,601,700 

Common Stock
and Paid in Capital
Retained EarningsAccumulated
Other Comprehensive Income
Shareholders’
Equity
SharesAmount
Balance, April 1, 202035,102,459 $1,343,699 $177,922 $80,079 $1,601,700 
Net income23,541 23,541 
Other comprehensive loss, net of income tax(1,520)(1,520)
Adjustment to previously accrued dividends(15)(15)
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered
55,440 1,397 1,397 
Balance, June 30, 202035,157,899 $1,345,096 $201,448 $78,559 $1,625,103 

Continued on next page



7






Common Stock
and Paid in Capital
Retained EarningsAccumulated
Other Comprehensive Income
Shareholders’
Equity
SharesAmounts
Balance, July 1, 202035,157,899 $1,345,096 $201,448 $78,559 $1,625,103 
Net income36,548 36,548 
Other comprehensive loss, net of income tax(2,601)(2,601)
Accrual of dividends on common stock ($0.41/share)
(15,037)(15,037)
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered
669 2,516 2,516 
Balance, September 30, 202035,158,568 $1,347,612 $222,959 $75,958 $1,646,529 
Common Stock
and Paid in Capital
Retained EarningsAccumulated
Other Comprehensive Income
Shareholders’
Equity
SharesAmounts
Balance, October 1, 202035,158,568 $1,347,612 $222,959 $75,958 $1,646,529 
Net income38,957 38,957 
Other comprehensive loss, net of income tax
(6,889)(6,889)
Accrual of dividends on common stock ($0.41/share)
(14,600)(14,600)
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered
632 2,267 2,267 
Balance, December 31, 202035,159,200 $1,349,879 $247,316 $69,069 $1,666,264 

Continued on next page
8


Common Stock
and Paid in Capital
Retained EarningsAccumulated
Other Comprehensive Income
Shareholders’
Equity
SharesAmount
Balance, January 1, 202135,159,200 $1,349,879 $247,316 $69,069 $1,666,264 
Net income46,855 46,855 
Other comprehensive loss, net of income tax(56,103)(56,103)
Accrual of dividends on common stock ($0.41/share)
(14,589)(14,589)
Amortization of stock-based compensation related to restricted stock grants, net of shares surrendered
76,143 1,714 1,714 
Repurchase of common stock
(500,000)(25,324)(25,324)
Balance, March 31, 202134,735,343 $1,326,269 $279,582 $12,966 $1,618,817 



See Selected Notes to the Consolidated Financial Statements
9


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited) (In thousands)
For the Three Months Ended March 31, 2021 and 2020
Three Months Ended March 31,
20212020
OPERATING ACTIVITIES:
Net income$46,855 $16,882 
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation4,411 4,614 
Deferred income/expense and capitalized servicing rights, net of amortization(7,203)(1,129)
Amortization of core deposit intangibles1,711 2,001 
Gain on sale of securities, net(485)(78)
Net change in valuation of financial instruments carried at fair value(59)4,596 
(Increase) decrease in deferred taxes(17,436)16,507 
Increase in current taxes payable9,506 2,067 
Stock-based compensation2,152 1,872 
Net change in cash surrender value of BOLI(1,002)(1,041)
Gain on sale of loans, excluding capitalized servicing rights(9,487)(8,363)
(Gain) loss on disposal of real estate held for sale and property and equipment, net(298)444 
(Recapture) provision for credit losses(9,251)23,470 
Origination of loans held for sale(301,393)(296,712)
Proceeds from sales of loans held for sale419,412 333,094 
Net change in:
Other assets20,319 (51,061)
Other liabilities164,729 5,400 
Net cash provided from operating activities322,481 52,563 
INVESTING ACTIVITIES:
Purchases of securities—available-for-sale(1,225,723)(143,973)
Principal repayments and maturities of securities—available-for-sale434,651 82,760 
Proceeds from sales of securities—available-for-sale48,784 44,509 
Purchases of securitiesheld-to-maturity
(31,170)(206,155)
Principal repayments and maturities of securities—held-to-maturity9,982 3,786 
Purchases of equity securities(4,750) 
Proceeds from sales of equity securities4,796  
Loan originations, net of principal repayments(77,834)16,646 
Proceeds from sales of other loans8,367 5,751 
Purchases of property and equipment(2,334)(3,086)
Proceeds from sale of real estate held for sale and sale of other property1,999 877 
Proceeds from FHLB stock repurchase program2,358 47,840 
Purchase of FHLB stock (39,745)
Other1,418 (72)
Net cash used in investing activities(829,456)(190,862)
FINANCING ACTIVITIES:
Increase in deposits, net981,571 400,895 
Repayment of long term FHLB advances (50,000) 
Repayment of overnight and short term FHLB advances, net (203,000)
Increase in other borrowings, net31,474 10,289 
Cash dividends paid(14,565)(50,505)
Taxes paid related to net share settlement of equity awards(437)(339)
Cash paid for the repurchase of common stock(25,324)(31,775)
Net cash provided from financing activities922,719 125,565 
NET CHANGE IN CASH AND CASH EQUIVALENTS415,744 (12,734)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD1,234,183 307,735 
CASH AND CASH EQUIVALENTS, END OF PERIOD$1,649,927 $295,001 
Continued on next page

10


BANNER CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (continued)
(Unaudited) (In thousands)
For the Three Months Ended March 31, 2021 and 2020
Three Months Ended March 31,
20212020
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Interest paid in cash$5,829 $13,014 
Tax refunds received (paid)100 (29)
NON-CASH INVESTING AND FINANCING TRANSACTIONS:
Loans, net of discounts, specific loss allowances and unearned income,
transferred to real estate owned and other repossessed assets
 1,588 
   Dividends accrued but not paid until after period end1,381 15,277 

See Selected Notes to the Consolidated Financial Statements
11


BANNER CORPORATION AND SUBSIDIARIES
SELECTED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

Note 1:  BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

The accompanying unaudited condensed consolidated financial statements include the accounts of Banner Corporation (the Company or Banner), a bank holding company incorporated in the State of Washington and its wholly-owned subsidiary, Banner Bank (the Bank).

These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the Securities and Exchange Commission (SEC). In preparing these financial statements, the Company has evaluated events and transactions subsequent to March 31, 2021 for potential recognition or disclosure. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. Certain information and note disclosures have been condensed or omitted pursuant to the rules and regulations of the SEC and the accounting standards for interim financial statements. Certain reclassifications have been made to the 2020 Consolidated Financial Statements and/or schedules to conform to the 2021 presentation. Prior to the first quarter of 2021, the (recapture) provision for credit losses - unfunded loan commitment was recorded as non-interest expense, beginning in the first quarter of 2021 the (recapture) provision for credit losses - unfunded loan commitment is recorded as a component of the provision for credit losses. These reclassifications may have affected certain ratios for the prior periods. The effect of these reclassifications is considered immaterial. All significant intercompany transactions and balances have been eliminated.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company’s accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified several accounting policies that, due to the judgments, estimates and assumptions inherent in those policies, are significant to an understanding of Banner’s financial statements. These policies relate to (i) the methodology for the recognition of interest income, (ii) determination of the provision and allowance for credit losses, (iii) the valuation of financial assets and liabilities recorded at fair value (iv) the valuation of intangibles, such as goodwill, core deposit intangibles (CDI) and mortgage servicing rights, (v) the valuation of real estate held for sale, (vi) the valuation of assets acquired and liabilities assumed in business combinations and subsequent recognition of related income and expense, and (vii) the valuation or recognition of deferred tax assets and liabilities. These policies and judgments, estimates and assumptions are described in greater detail in subsequent notes to the Consolidated Financial Statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies) in our Annual Report on Form 10-K for the year ended December 31, 2020 filed with the SEC (2020 Form 10-K).  There have been no significant changes in our application of these accounting policies during the first three months of 2021.

The information included in this Form 10-Q should be read in conjunction with our 2020 Form 10-K.  Interim results are not necessarily indicative of results for a full year or any other interim period.
12


Note 2:  ACCOUNTING STANDARDS RECENTLY ISSUED OR ADOPTED

Reference Rate Reform (Topic 848)

In March 2020, the Financial Accounting Standards Board (FASB) issued guidance within Accounting Standards Update (ASU) 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, in response to the scheduled discontinuation of LIBOR on December 31, 2021. The amendments in this ASU provide optional guidance designed to provide relief from the accounting analysis and impacts that may otherwise be required for modifications to agreements (e.g., loans, debt securities, derivatives, borrowings) necessitated by reference rate reform. Since the issuance of this guidance, the publication cessation of U.S. dollar LIBOR has been extended to June 30, 2023.

The following optional expedients for applying the requirements of certain Topics or Industry Subtopics in the Codification are permitted for contracts that are modified because of reference rate reform and that meet certain scope guidance: 1) modifications of contracts within the scope of Topics 310, Receivables, and 470, Debt, should be accounted for by prospectively adjusting the effective interest rate; 2) modifications of contracts within the scope of Topic 842, Leases, should be accounted for as a continuation of the existing contracts with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required under this Topic for modifications not accounted for as separate contracts; 3) modifications of contracts do not require an entity to reassess its original conclusion about whether that contract contains an embedded derivative that is clearly and closely related to the economic characteristics and risks of the host contract under Subtopic 815-15, Derivatives and Hedging- Embedded Derivatives; and 4) for other Topics or Industry Subtopics in the Codification, the amendments in this ASU also include a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. Upon adoption, an entity may make a one-time election to sell, transfer, or both sell and transfer debt securities classified as held to maturity that reference a rate affected by reference rate reform and that are classified as held to maturity before January 1, 2020.

In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. This ASU clarifies that certain optional expedients and exceptions in Topic 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. The ASU also amends the expedients and exceptions in Topic 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition.

The amendments in these ASUs are effective upon the issuance date of March 12, 2020 and once adopted will apply to contract modifications made and new hedging relationships entered into through December 31, 2022. The Company will be able to use the expedients in this guidance to manage through the transition away from LIBOR, specifically as they relate to loans and leases. The adoption of this accounting guidance is not expected to have a material impact on the Company’s Consolidated Financial Statements.





13


Note 3:  SECURITIES

The amortized cost, gross unrealized gains and losses and estimated fair value of securities at March 31, 2021 and December 31, 2020 are summarized as follows (in thousands):
 March 31, 2021
 Amortized CostFair
Value
Trading:
Corporate bonds$27,203 $25,039 
$27,203 $25,039 
 March 31, 2021
 Amortized CostGross Unrealized GainsGross Unrealized LossesAllowance for Credit LossesFair
Value
Available-for-Sale:
U.S. Government and agency obligations$62,922 $740 $(816)$ $62,846 
Municipal bonds287,685 14,378 (1,328) 300,735 
Corporate bonds243,428 2,290 (290) 245,428 
Mortgage-backed or related securities2,399,117 28,710 (50,824) 2,377,003 
Asset-backed securities3,750  (2) 3,748 
 $2,996,902 $46,118 $(53,260)$ $