X0306 4 2016-11-04 0 0000946673 BANNER CORP BANR 0001235824 Fleischer Spencer C C/O FFL PARTNERS, LLC ONE MARITIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001412166 FRIEDMAN FLEISCHER & LOWE CAPITAL PARTNERS III LP ONE MARTIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001412164 FRIEDMAN FLEISCHER & LOWE PARALLEL FUND III LP ONE MARITIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001616049 FFL Individual Partners III, L.P. ONE MARITIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001447193 FFL EXECUTIVE PARTNERS III LP ONE MARITIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001616050 Friedman Fleischer & Lowe GP III, L.P. ONE MARTIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 0001615971 Friedman Fleischer & Lowe GP III, LLC ONE MARTIME PLAZA, SUITE 2200 SAN FRANCISCO CA 94111 1 0 0 0 Common Stock, $0.01 par value per share 697 D Common Stock, $0.01 par value per share 2016-11-04 4 S 0 531301 43.24 D 994493 I See footnotes Common stock, $0.01 par value per share 2016-11-04 4 S 0 352084 43.24 D 659035 I See footnotes Common stock, $0.01 par value per share 2016-11-04 4 S 0 11255 43.24 D 21067 I See footnotes Common stock, $0.01 par value per share 2016-11-04 4 S 0 10360 43.24 D 19393 I See footnotes Represents award of restricted stock pursuant to 2014 Omnibus Incentive Plan; shares fully vest on April 25, 2017. These shares are subject to forfeiture and to limits on transferability until they vest. Held directly by Friedman Fleischer & Lowe Capital Partners III, L.P. Held directly by Friedman Fleischer & Lowe Parallel Fund III, L.P. Held directly by FFL Individual Partners III, L.P. Held directly by FFL Executive Partners, L.P. Each Reporting Person expressly disclaims beneficial ownership of the shares except to the extent of such Reporting Person's pecuniary interest therein. See Exhibit 99.1. Solely for purposes of Section 16 of the Securities Exchange Act of 1934, each of Friedman Fleischer & Lowe Capital Partners III, L.P., Friedman Fleischer & Lowe Parallel Fund III, L.P., FFL Individual Partners III, L.P., FFL Executive Partners III, L.P., Friedman Fleischer & Lowe GP III, L.P. and Friedman Fleischer & Lowe GP III, LLC (the "FFL Reporting Persons"), may be deemed to be directors-by-deputization by virtue of their right to designate a member of the board of directors of the Issuer. The FFL Reporting Persons designated Spencer C. Fleischer as a member of the board of directors of the Issuer, effective October 1, 2015 pursuant to that certain Investment Letter Agreement, dated as of November 5, 2014, by and between the FFL Funds (as defined in Exhibit 99.1) and the Issuer. /s/ Spencer C. Fleischer 2016-11-07