BANNER CORPORATION (PARENT COMPANY ONLY)

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

BANNER CORPORATION (PARENT COMPANY ONLY)

BANNER CORPORATION (PARENT COMPANY ONLY)

Summary financial information is as follows (in thousands):

Statements of Financial Condition	December 31
	2016		2015
ASSETS
Cash	$	86,268	$	58,232
Investment in trust equities	4,212		4,212
Investment in subsidiaries	1,307,475		1,319,348
Other assets	13,784		21,134
Total assets	$	1,411,739	$	1,402,926
LIABILITIES AND SHAREHOLDERS’ EQUITY
Miscellaneous liabilities	$	8,990	$	7,846
Deferred tax liability	1,839		2,541
Junior subordinated debentures at fair value	95,200		92,480
Shareholders’ equity	1,305,710		1,300,059
Total liabilities and shareholders' equity	$	1,411,739	$	1,402,926

Statements of Operations	Years Ended December 31
	2016			2015			2014
INTEREST INCOME:
Interest-bearing deposits	$	127		$	122		$	96
OTHER INCOME (EXPENSE):
Dividend income from subsidiaries	50,971			170,260			26,027
Equity in undistributed (distributions in excess of) income of subsidiaries	40,852			(116,120		)	33,612
Other income	60			69			67
Net change in valuation of financial instruments carried at fair value	(2,720		)	(2,714		)	(4,073		)
Interest on other borrowings	(4,040		)	(3,247		)	(2,914		)
Other expenses	(3,450		)	(7,175		)	(2,519		)
Net income before taxes	81,800			41,195			50,296
BENEFIT FROM INCOME TAXES	(3,585		)	(4,027		)	(3,774		)
NET INCOME	$	85,385		$	45,222		$	54,070

Statements of Cash Flows	Years Ended December 31
	2016			2015			2014
OPERATING ACTIVITIES:
Net income	$	85,385		$	45,222		$	54,070
Adjustments to reconcile net income to net cash provided by operating activities:
Distributions in excess of (equity in undistributed) income of subsidiaries	(40,852		)	116,120			(33,612		)
Decrease in deferred taxes	(702		)	(1,398		)	(1,444		)
Net change in valuation of financial instruments carried at fair value	2,720			2,714			4,073
Decrease (increase) in other assets	7,332			(10,655		)	(3,822		)
Increase in other liabilities	3,233			3,919			222
Net cash provided from operating activities	57,116			155,922			19,487
INVESTING ACTIVITIES:
Funds transferred to deferred compensation trust	(26		)	(26		)	(26		)
Reduction in investment in subsidiaries	50,000			—			—
Acquisitions	—			(132,652		)	—
Net cash provided from (used by) investing activities	49,974			(132,678		)	(26		)
FINANCING ACTIVITIES:
Issuance of stock for shareholder reinvestment program	—			34			127
Repurchase of common stock	(50,772		)	—			—
Cash dividends paid	(28,282		)	(17,170		)	(13,462		)
Net cash used by financing activities	(79,054		)	(17,136		)	(13,335		)
NET CHANGE IN CASH	28,036			6,108			6,126
CASH, BEGINNING OF PERIOD	58,232			52,124			45,998
CASH, END OF PERIOD	$	86,268		$	58,232		$	52,124