secwatch.observer — SEC 8-K summary
======================================

Issuer:     BANNER CORP (BANR)
CIK:        0000946673
Form:       8-K
Filed at:   2026-05-01T23:59:59+00:00
Accession:  0000946673-26-000123
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Banner to acquire Pacific Financial in all-stock deal valued at ~$177M
----------------------------------------------------------------------

- Exchange ratio: 0.2633 Banner shares per Pacific Financial share; implied value $17.44/share.
- Transaction valued at ~$177 million aggregate; expected to close in Q3 2026.
- Combined company to have ~$18 billion in assets; Pacific Financial had $1.29B assets at 3/31/26.
- Deal unanimously approved by both boards; expected to be immediately accretive to 2027 EPS.
- Pacific Financial CEO Denise Portmann to join Banner Bank as executive vice president.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/946673/000094667326000123/0000946673-26-000123-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/946673/000094667326000123/banr-20260430.htm
  HTML page:      https://secwatch.observer/filing/0000946673-26-000123

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer