Simpson Thacher represented BofA Securities, Inc. and Piper Sandler & Co. in connection with the offering.
Banner Corporation executed the offering of $100 million aggregate principal amount of 5% Fixed-to-Floating Rate Subordinated Notes due 2030.
Banner Corporation intends to use the net proceeds from the offering for general corporate purposes, which may include providing capital to support its growth organically or through strategic acquisitions, repayment or redemption of outstanding indebtedness, the payment of dividends, financing investments and capital expenditures, repurchasing shares of its common stock and for investments in its wholly owned subsidiaries, Banner Bank and Islanders Bank, as regulatory capital.
Banner Corporation is a $12.78 billion bank holding company operating two commercial banks in four Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans.
Simpson Thacher represented BofA Securities, Inc. and Piper Sandler & Co. with a team comprised of Lee Meyerson (Picture), Mark Brod and Ben Massey (Capital Markets); Spencer Sloan (Bank Regulatory); Jonathan Cantor (Tax); Ashlie Lawton (Executive Compensation and Executive Benefits); and Andrew Pagliughi (FINRA and Blue Sky).
Involved fees earner: Mark Brod – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Ashlie Lawton – Simpson Thacher & Bartlett; Ben Massey – Simpson Thacher & Bartlett; Lee Meyerson – Simpson Thacher & Bartlett; Andrew Pagliughi – Simpson Thacher & Bartlett; Spencer Sloan – Simpson Thacher & Bartlett;
Law Firms: Simpson Thacher & Bartlett;