X0306 4 2016-03-14 0 0000946673 BANNER CORP BANR 0001414635 Rust Steven W 10 SOUTH 1ST AVENUE WALLA WALLA WA 99362 0 1 0 0 Executive Vice President Common Stock, $.01 par value per share 2016-03-14 4 A 0 513 41.89 A 7175 D Common Stock, $.01 par value per share 2016-03-14 4 F 0 151 41.89 D 7024 D Common Stock, $.01 par value per share 2016-03-14 4 A 0 725 41.89 A 7749 D Common Stock, $.01 par value per share 2016-03-14 4 F 0 214 41.89 D 7535 D This award for 1,848 performance shares was originally reported on June 5, 2013 at the maximum performance criteria. This supplements that filing to note that the actual number of shares that vested based on the performance results as determined by Banner Corporation's Compensation Committee. Market price on March 14, 2016. Includes direct ownership of 359 shares through Deferred Compensation Plan and 258 shares through 401(k) Plan. Shares relinquished to cover tax obligation on vesting of 513 performance shares. Represents award pursuant to 2014 Omnibus Incentive Plan; shares vest immediately. Shares relinquished to cover tax obligation on vesting of 725 shares. /s/ Steven W. Rust 2016-03-16