Banner Bank
Banner Corporation is based in Walla Walla, Washington and is a holding company for Banner Bank. Banner Bank was founded in 1890 and is a state chartered bank. It has played an important role in the history and growth of the communities it serves. During the 1960’s Banner Bank expanded it’s holdings and now consists of 58 branch offices and 11 loan production offices. Banner Bank’s functions include generating loans. Besides commercial business and real estate loans, they provide funding for one to four family residential loans. They operate in the states of Washington, Oregon and Idaho. Banner Bank’s corporate officers include: D. Michael Jones, Chief Executive Officer; Richard B. Barton, Chief Credit Officer; Paul E. Folz, Executive Vice President; and Michael K. Larsen, Executive Vice President of Real Estate Lending. Banner Corporation has $2897 million in assets and posted a pretax earning of $28 million in 2005.
Banner Bank Mortgage Options
Banner Bank accepts online loan applications. Once your online application is complete and approved a deposit will be requested for an appraisal from a licensed appraiser. A loan officer will contact you and will guide you through the process of obtaining a mortgage. Banner has many mortgage options available including the Home$tart package mentioned above. They offer fixed rate (the interest rate stays the same for the life of the loan) mortgages with 10,15, 20, 25, and 30 year terms. Adjustable rate mortgages are also offered. In this type of loan the interest rate stays fixed for a certain term and then returns to the market rate. These are offered in 1, 3, 5,7, or 10 year fixed terms. Balloon mortgages, fixed rate mortgages which are paid in full with a single balloon payment are also offered with 5 and 7 year terms. Banner Bank also provides funds for manufactured (mobile ) homes.
Other Bannker Bank Loans
Banner Bank also funds personal lines of credit, home equity lines of credit, home improvement loans, vehicle loans and both secured and unsecured personal loans. Banner Bank can meet all your funding needs.
Banner Bank’s motto is “Better bank. Better ideas. Better banking.” Aside from their mission to “create the best Northwest banking franchise by delivering superior customer value,” Banner Bank works with community leaders to provide solutions for housing problems and shortages in their communities. They partner with local housing agencies and community development corporations to create and restore housing for low and moderate income people. Banner Bank has partnered with Federal Home Loan Bank of Seattle and created the Home$tart Saving Program where families whose income is less than 80% of the median for their area can earn $3. for every $1. saved up to $5000.
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