Banner Corporation Announces CFO Transition Plan
31 Marzo 2023 - 10:00PM
Banner Corporation (NASDAQ GSM: BANR) (“Banner” or the “Company”),
the parent company of Banner Bank, today announced that Peter J.
Conner has informed the Company of his intention to retire from his
position as Executive Vice President and Chief Financial Officer of
the Company, effective October 10, 2023. He will also be retiring
from his position as Executive Vice President and Chief Financial
Officer of Banner Bank, effective April 10, 2023. Effective April
11, 2023, Robert G. Butterfield, currently Senior Vice President
and Chief Accounting Officer of Banner Bank, will be promoted to
Executive Vice President of the Bank, will succeed Mr. Conner in
the position of Chief Financial Officer of the Bank and will become
a member of the Bank’s Executive Management Committee. To ensure a
smooth transition, Mr. Butterfield will continue to report to Mr.
Conner.
When Mr. Conner retires as the Company’s CFO on
October 10, Mr. Butterfield will be appointed to the expanded role
of CFO of the Company and begin reporting to Mark J. Grescovich,
President and CEO. At that time, Mr. Conner will transition to a
reduced schedule in connection with his new role as special advisor
to the CEO, until his retirement from the Company April 10,
2024.
Mr. Conner joined Banner Bank as CFO in 2015 as
part of the AmericanWest Bank acquisition. He began his banking
career in 1989 and progressed through several leadership positions
with a variety of money center and community banks prior to joining
AmericanWest as CFO in 2010.
“We are extremely grateful for Peter’s many
substantial contributions to Banner,” said Mark J. Grescovich,
President and Chief Executive Officer. “He has been integral in
helping guide us through a period of significant expansion and
growth and his extensive financial expertise has put Banner in a
position of strength. We respect his desire to make this change so
he can spend additional time with his family. The board joins me in
thanking Peter, and we wish him and his family all the very best in
his retirement.
“It’s been a privilege to have had a key part in
Banner’s growth, and in further solidifying our strong financial
position,” said Mr. Conner. “I hired Rob. We’ve worked closely
together and are like-minded in our approach and strategies, so I
have tremendous confidence this will be a smooth transition. Banner
is well-positioned for a continuation of our long-term strategy and
future growth opportunities.”
Mr. Grescovich commented, “Rob’s appointments
are a natural progression of our succession planning and facilitate
a seamless transition as he has worked alongside Peter for more
than seven years. In fact, he has been instrumental in our
successful implementation of our corporate value creation strategy
the past two years. Rob is a consummate finance leader, experienced
in leading many areas of finance and accounting, including
financial reporting. We are confident in his ability to lead our
financial team into the future.”
A Certified Public Accountant, Mr. Butterfield
has more than 26 years of highly specialized financial expertise,
including 22 years in the financial services industry. He was
Senior Vice President, Controller and Principal Accounting Officer
at Sterling Savings Bank when the company was acquired by Umpqua
Bank in 2014 where he accepted the position of Controller until
joining Banner Bank as Chief Accounting Officer in 2015. Mr.
Butterfield began his career as an auditor with BDO USA, LLP. He
earned his bachelor’s degree in Accounting and is a graduate of
Pacific Coast Banking School.
“Banner has tripled in asset size since I joined
the organization; it has been very rewarding to work alongside
Peter and be a part of that growth,” said Mr. Butterfield. “I am
looking forward to leading our talented finance team and being a
part of future growth opportunities.”
About the Company
Banner Corporation is a $15.83 billion bank
holding company operating one commercial bank in four Western
states through a network of branches offering a full range of
deposit services and business, commercial real estate,
construction, residential, agricultural and consumer loans. Visit
Banner Bank on the Web at www.bannerbank.com.
Forward-Looking Statements
This press release contains statements that the
Company believes are “forward-looking statements.” These statements
relate to the Company’s financial condition, results of operations,
plans, objectives, future performance or business. You should not
place undue reliance on these statements, as they are subject to
risks and uncertainties, and actual results and performance in
future periods may be materially different from any future results
or performance suggested by the forward-looking statements in this
release. Factors that might cause such differences include, but are
not limited to, those identified in our risk factors contained in
Banner Corporation’s Annual Report on Form 10-K for the fiscal year
ended December 31, 2022. Such forward-looking statements speak only
as of the date of this release. Banner Corporation expressly
disclaims any obligation to update or revise any forward-looking
statements found herein to reflect any changes in the Company’s
expectations of results or any change in events.
CONTACT: |
MARK J. GRESCOVICH, PRESIDENT & CEO PETER J. CONNER, CFO (509)
527-3636 |
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