Banner Bank promotes EVP Jim Costa to COO in addition to CRO role, effective May 26

BANNER CORP

James M. Costa named Chief Operating Officer of Banner Bank while retaining Chief Risk Officer role.
New annual salary of $500,000; short-term incentive target 65% of eligible earnings.
Long-term incentive target of 80% of base salary; eligible for relocation package up to $200,000 plus tax gross-up.
May receive restricted stock units or cash award of up to $300,000, determined by late October 2024.
CEO cites realigning reporting structure to prepare for growth while maintaining moderate risk profile.

item 5.02 item 9.01

Executive movements

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Role change

James M. Costa

Chief Operating Officer

BANR · BANNER CORP

Effective: 2024-05-26
Filed: May 30, 2024, 7:59 PM ET

On May 29, 2024, Banner Bank (the “Bank”), a wholly-owned subsidiary of Banner Corporation (the “Company”), announced that Banner Bank Executive Vice President James M. Costa has been promoted to Chief Operating Officer of the Bank in addition to his role as the Bank’s Chief Risk Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

James M. Costa changed role as Chief Operating Officer at BANNER CORP.

Action: promoted
Role: Chief Operating Officer

Exact text from the filing

On May 29, 2024, Banner Bank (the “Bank”), a wholly-owned subsidiary of Banner Corporation (the “Company”), announced that Banner Bank Executive Vice President James M. Costa has been promoted to Chief Operating Officer of the Bank in addition to his role as the Bank’s Chief Risk Officer.

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Source: SEC EDGAR

accession 0000939057-24-000156

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