5 1 larsen.htm MICHAEL K. LARSEN FORM 5
FORM 5
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
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[ ] Check box if no longer subject             OMB Number: 3235-0362
to Section 16.  Form 4 or Form ANNUAL STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Expires: January 31, 2005
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[ ] Form 3 Holdings Reported  
[ ] From 4 Transactions Reported Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility		  
Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940  

 
1. Name and Address of Reporting Person*

  Larsen, Michael K.		 2. Issuer Name and Ticker or Trading Symbol

Banner Corporation "BANR "

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)

                 Director                       10% Owner
           X    Officer (give title            Other (specify
                              below)                      below)
                    Executive Vice President             
(Last)            (First)                  (Middle)


   10 South First Avenue

 3. IRS Identification Number of Reporting Person, if an entity (voluntary)

           		4. Statement for Month/Year

              12/02                

                    (Street)



  Walla Walla, WA  99362

 5. If Amendment, Date of Original (Month/Year)

  7. Individual or Joint/Group Reporting
                 (check applicable line)
     XX Form Filed by One Reporting Person
          Form Filed by More than One Reporting
          Person

(City)          (State)           (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

   
1. Title of Security (Instr. 3) 2. Trans-action Date (Month/Day/ Year) 2A.  Deemed Execution Date, if any (Month/
Day/Year)		 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of  Securities Bene-ficially Owned at End of  Issuer's Fiscal Year  (Instr. 3 and 4) 6. Owner-ship Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Amount (A) or (D) Price
  
                   
                 
                    
                    
                     

*If the form is filed by more than one reporting person, see Instruction 4(b)(v).                                                                                                                SEC 1474 (3-99)
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FORM 5 (continued)                    Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
                                                                    (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3) 2. Con-version or Exercise Price of Derivative Security 3. Trans-action Date (Month/ Day/Year) 3A. Deemed Execution Date, if any (Month/
Day/Year)		 4. Trans-action Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.3, 4, and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Underlying Sec-urities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Deriva-tive Se-curities Benefici- ally Owned at End of Year (Instr. 4) 10. Owner-ship of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4 )
(A) (D) Date Exer-cisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units 1 for 1 2/04/02   A .69   * * Common Stock .69 18.25   D  
Phantom Stock Units 1 for 1 2/15/02   A 74.4   * * Common Stock 74.4 20.57   D  
Phantom Stock Units 1 for 1 5/15/02   A 8.48   * * Common Stock 8.48 24.23   D  
Phantom Stock Units 1 for 1 8/14/02   A 8.93   * * Common Stock 8.93 21.42 1,314 D  
                                
                                

Explanation of Responses:

*Phantom Stock Units acquired pursuant to deferred compensation agreement; settled in stock at termination of service.

 

                                                                                                                                  /s/Michael K. Larsen                                         1/14/03       
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.        **  Signature of Reporting Person                         Date
    See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)                                                                        

Note: File three copies of this Form, one of which must be manually signed.
      If space provided is insufficient, see Instruction 6 for procedure

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.

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