BANNER CORPORATION (PARENT COMPANY ONLY)

12 Months Ended

Dec. 31, 2013

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
	2013		2012
ASSETS
Cash	$	45,998	$	36,884
Investment in trust equities	3,716		3,716
Investment in subsidiaries	575,023		556,125
Other assets	7,280		2,601
	$	632,017	$	599,326
LIABILITIES AND STOCKHOLDERS’ EQUITY
Miscellaneous liabilities	$	6,157	$	6,401
Deferred tax liability	12,960		12,943
Junior subordinated debentures at fair value	73,928		73,063
Stockholders’ equity	538,972		506,919
	$	632,017	$	599,326

Statements of Operations	Years Ended December 31
	2013			2012			2011
INTEREST INCOME:
Interest-bearing deposits	$	82		$	218		$	277
OTHER INCOME (EXPENSE):
Dividend income from subsidiaries	24,725			61,329			990
Equity in undistributed income of subsidiaries	23,994			23,507			9,478
Other income	3,016			55			46
Net change in valuation of financial instruments carried at fair value	(865		)	(23,075		)	(1,563		)
Interest on other borrowings	(2,968		)	(3,395		)	(4,193		)
Other expenses	(2,794		)	(2,375		)	(2,313		)
Net income before taxes	45,190			56,264			2,722
BENEFIT FROM INCOME TAXES	(1,365		)	(8,618		)	(2,735		)
NET INCOME	46,555			64,882			5,457
PREFERRED STOCK DIVIDEND AND DISCOUNT ACCRETION
Preferred stock dividend	—			4,938			6,200
Preferred stock discount accretion	—			3,298			1,701
Gain on repurchase of preferred stock	—			(2,471		)	—
NET INCOME AVAILABLE TO COMMON SHAREHOLDERS	$	46,555		$	59,117		$	(2,444	)

Statements of Cash Flows	Years Ended December 31
	2013			2012			2011
OPERATING ACTIVITIES:
Net income	$	46,555		$	64,882		$	5,457
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed earnings of subsidiaries	(23,994		)	(23,507		)	(9,478		)
Increase (decrease) in deferred taxes	17			(13,030		)	(562		)
Net change in valuation of financial instruments carried at fair value	865			23,075			1,563
(Increase) decrease in other assets	(4,655		)	(496		)	1,933
Increase (decrease) in other liabilities	(1,921		)	4,940			(957		)
Net cash provided from (used by) operating activities	16,867			55,864			(2,044		)
INVESTING ACTIVITIES:
Funds transferred to deferred compensation trust	(27		)	(332		)	(162		)
Net cash used by investing activities	(27		)	(332		)	(162		)
FINANCING ACTIVITIES:
Issuance of stock for stockholder reinvestment program	72			36,317			21,556
Redemption of senior preferred stock	—			(121,528		)	—
Cash dividends paid	(7,798		)	(6,470		)	(8,827		)
Net cash provided from (used by) financing activities	(7,726		)	(91,681		)	12,729
NET INCREASE (DECREASE) IN CASH	9,114			(36,149		)	10,523
CASH, BEGINNING OF PERIOD	36,884			73,033			62,510
CASH, END OF PERIOD	$	45,998		$	36,884		$	73,033