BANNER CORPORATION (PARENT COMPANY ONLY)

12 Months Ended

Dec. 31, 2012

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
	2012		2011
ASSETS
Cash	$	36,884	$	73,033
Investment in trust equities	3,716		3,716
Investment in subsidiaries	556,125		532,561
Other assets	2,601		1,207
	$	599,326	$	610,517
LIABILITIES AND STOCKHOLDERS’ EQUITY
Miscellaneous liabilities	$	6,401	$	2,106
Deferred tax liability	12,943		25,973
Junior subordinated debentures at fair value	73,063		49,988
Stockholders’ equity	506,919		532,450
	$	599,326	$	610,517

Statements of Operations	Years Ended December 31
	2012			2011			2010
INTEREST INCOME:
Certificates, time deposits and dividends	$	218		$	277		$	362
OTHER INCOME (EXPENSE):
Dividend income from subsidiaries	61,329			990			1,760
Equity in undistributed income of subsidiaries	23,507			9,478			(58,766		)
Other income	55			46			46
Net change in valuation of financial instruments carried at fair value	(23,075		)	(1,563		)	(730		)
Interest on other borrowings	(3,395		)	(4,193		)	(4,226		)
Other expenses	(2,375		)	(2,313		)	(2,818		)
Net income (loss) before taxes	56,264			2,722			(64,372		)
BENEFIT FROM INCOME TAXES	(8,618		)	(2,735		)	(2,476		)
NET INCOME (LOSS)	$	64,882		$	5,457		$	(61,896	)

Statements of Cash Flows	Years Ended December 31
	2012			2011			2010
OPERATING ACTIVITIES:
Net income (loss)	$	64,882		$	5,457		$	(61,896	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(23,507		)	(9,478		)	58,766
Increase (decrease) in deferred taxes	(13,030		)	(562		)	703
Net change in valuation of financial instruments carried at fair value	23,075			1,563			730
Increase in other assets	(496		)	1,933			(847		)
Increase (decrease) in other liabilities	4,941			(957		)	3
Net cash provided by (used by) operating activities	55,865			(2,044		)	(2,541		)
INVESTING ACTIVITIES:
Funds transferred to deferred compensation trust	(332		)	(162		)	(110		)
Additional funds invested in subsidiaries	—			—			(110,000		)
Net cash used by investing activities	(332		)	(162		)	(110,110		)
FINANCING ACTIVITIES:
Issuance of stock for stockholder reinvestment program	36,316			21,556			16,201
Redemption of senior preferred stock	(121,528		)	—			—
Issuance of stock in secondary offering, net of costs	—			—			161,637
Cash dividends paid	(6,470		)	(8,827		)	(8,867		)
Net cash provided by (used by) financing activities	(91,682		)	12,729			168,971
NET INCREASE (DECREASE) IN CASH	(36,149		)	10,523			56,320
CASH, BEGINNING OF PERIOD	73,033			62,510			6,190
CASH, END OF PERIOD	$	36,884		$	73,033		$	62,510