BANNER CORPORATION (PARENT COMPANY ONLY) (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Financial Condition

Summary financial information is as follows (in thousands):

Statements of Financial Condition	December 31
	2019		2018
ASSETS
Cash	$	54,257	$	38,029
Investment in trust equities	4,444		4,212
Investment in subsidiaries	1,691,907		1,540,251
Other assets	19,471		25,267
Total assets	$	1,770,079	$	1,607,759
LIABILITIES AND SHAREHOLDERS’ EQUITY
Miscellaneous liabilities	$	52,322	$	15,073
Deferred tax liability	4,419		—
Junior subordinated debentures at fair value	119,304		114,091
Shareholders’ equity	1,594,034		1,478,595
Total liabilities and shareholders' equity	$	1,770,079	$	1,607,759

Schedule of Condensed Statement of Operations

Statements of Operations	Years Ended December 31
	2019			2018			2017
INTEREST INCOME:
Interest-bearing deposits	$	98		$	49		$	62
OTHER INCOME (EXPENSE):
Dividend income from subsidiaries	119,333			72,604			40,570
Equity in undistributed income of subsidiaries	35,134			72,419			27,477
Other income	33			56			53
Net change in valuation of financial instruments carried at fair value	—			—			(3,507		)
Interest on other borrowings	(6,574		)	(6,136		)	(4,752		)
Other expenses	(4,045		)	(4,761		)	(3,291		)
Net income before taxes	143,979			134,231			56,612
BENEFIT FROM INCOME TAXES	(2,299		)	(2,284		)	(4,164		)
NET INCOME	$	146,278		$	136,515		$	60,776

Schedule of Condensed Statement of Cash Flows

Statements of Cash Flows	Years Ended December 31
	2019			2018			2017
OPERATING ACTIVITIES:
Net income	$	146,278		$	136,515		$	60,776
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed income of subsidiaries	(35,134		)	(72,419		)	(27,477		)
Decrease (increase) in deferred taxes	6,969			150			(1,442		)
Net change in valuation of financial instruments carried at fair value	—			—			3,507
Share-based compensation	7,142			6,554			5,965
(Increase) decrease in other assets	2,594			(19,268		)	10,684
Increase (decrease) in other liabilities	(120		)	201			69
Net cash provided from operating activities	127,729			51,733			52,082
INVESTING ACTIVITIES:
Funds transferred to deferred compensation trust	(32		)	(27		)	(29		)
Reduction in investment in subsidiaries	—			37,000			5,000
Acquisitions	442			(329		)	—
Net cash provided from investing activities	410			36,644			4,971
FINANCING ACTIVITIES:
Withholding taxes paid on share-based compensation	(1,915		)	(1,554		)	(1,630		)
Repurchase of common stock	(53,922		)	(34,401		)	(31,045		)
Cash dividends paid	(56,074		)	(59,280		)	(65,759		)
Net cash used by financing activities	(111,911		)	(95,235		)	(98,434		)
NET CHANGE IN CASH	16,228			(6,858		)	(41,381		)
CASH, BEGINNING OF PERIOD	38,029			44,887			86,268
CASH, END OF PERIOD	$	54,257		$	38,029		$	44,887