X0306 4 2019-03-29 0 0000946673 BANNER CORP BANR 0001655207 Larsen Kenneth A 10 SOUTH FIRST AVENUE WALLA WALLA WA 99362 0 1 0 0 Executive VP, Banner Bank Common Stock, $.01 par value per share 2019-03-29 4 A 0 793 54.37 A 8131 D Common Stock, $.01 par value per share 2019-03-29 4 A 0 1189 54.37 A 9320 D Common Stock, $.01 par value per share 2019-04-01 4 F 0 88 55.02 D 9232 D Represents award pursuant to 2014 Omnibus Incentive Plan; shares vest ratably over a three-year period beginning on March 29, 2019 and ending on the third anniversary thereof. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting. These restricted stock units are subject to forfeiture and to limits on transferability until they vest. Market price on March 29, 2019. Includes direct ownership of 2,034 shares through Deferred Compensation Plan. Represents award pursuant to 2014 Omnibus Incentive Plan and is subject to the achievement of specified corporate and individual performance goals over a period that began on January 1, 2019 and ends on December 31, 2021. The extent to which the award vests, if at all, depends on the extent to which the performance goals are satisfied. Each restricted stock unit represents the right to receive one share of the Issuer's Common Stock upon vesting. These restricted stock units are subject to forfeiture and to limits on transferability until they vest. Shares relinquished to cover tax obligations on vesting of 375 shares of restricted stock pursuant to 2014 Omnibus Incentive Plan. Market price on April 1, 2019. /s/ Kenneth A. Larsen 2019-04-02