Victory Capital discloses 5.62% stake in Banner Corp — Schedule 13G/A

Rhea-AI Filing Summary

Filing: Schedule 13G/A filed for Banner Corp (CUSIP 06652V208) by Victory Capital Management, Inc.

As of 06/30/2025 Victory Capital reports beneficial ownership of 1,945,060 shares, representing 5.62% of Banner Corp common stock. Reported powers: sole voting power 1,927,082 and sole dispositive power 1,945,060. The filing is classified as an IA (investment adviser). The statement certifies the securities are held in the ordinary course of business and not for the purpose of changing or influencing control. This amendment was signed on 08/08/2025 to update sole voting power.

Positive

• Material disclosure: Victory Capital reports 1,945,060 shares (5.62%) beneficial ownership of Banner Corp.
• Clear voting metrics: Reports sole voting power of 1,927,082 and sole dispositive power of 1,945,060.
• Certification of intent: States holdings are in the ordinary course of business and not held to change or influence control.
• Amendment logged: Filing amended and signed on 08/08/2025 to update sole voting power.

Negative

• None.

Insights

Securities Analyst

TL;DR: Victory Capital holds a material 5.62% stake in Banner Corp; amendment updates reported sole voting power.

The Schedule 13G/A discloses a meaningful passive stake of 1,945,060 shares (5.62%) in Banner Corp as of 06/30/2025. Reported control metrics show near-complete sole voting and dispositive authority for the holding entity (1,927,082 sole votes; 1,945,060 sole dispositive). The filer class is IA, and the certification states the position is held in the ordinary course of business and not to influence control. This filing is primarily a transparency disclosure; it does not indicate activist intent or transaction plans.

Corporate Governance Expert

TL;DR: Disclosure clarifies voting/dispositive powers and affirms no control intent; useful for governance monitoring.

The amendment clarifies Victory Capital's reported sole voting power, which is material for shareholder voting analysis given the 5.62% ownership threshold. The statement explicitly denies acquisition for control and affirms ordinary-course holding. For boards and investors, the filing provides actionable data on a significant institutional holder's voting capacity and confirms no declared change-in-control purpose.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

BANNER CORP

(Name of Issuer)

Common Stock

(Title of Class of Securities)

06652V208

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 06652V208

1

Names of Reporting Persons

Victory Capital Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

NEW YORK

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,927,082.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,945,060.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,945,060.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.62 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BANNER CORP
(b)	Address of issuer's principal executive offices: 10 South 1st Avenue Walla Walla, Wa 99362
Item 2.
(a)	Name of person filing: Victory Capital Management, Inc.
(b)	Address or principal business office or, if none, residence: 15935 La Cantera Pkwy San Antonio, TX 78256
(c)	Citizenship: New York
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 06652V208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,945,060
(b)	Percent of class: 5.62 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,927,082
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,945,060
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. By signing below I certify that, to the best of my knowledge and belief, the foreign regulatory scheme applicable to Victory Capital Management, Inc. is substantially comparable to the regulatory scheme applicable to the functionally equivalent U.S. institution(s). I also undertake to furnish to the Commission staff, upon request, information that would otherwise be disclosed in a Schedule 13D. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Victory Capital Management, Inc.

Signature:	Barry Garrett
Name/Title:	Chief Compliance Officer
Date:	08/08/2025

Comments accompanying signature: Amendment to update Sole Voting Power

FAQ

How many Banner Corp (BANR) shares does Victory Capital report owning?

Victory Capital reports beneficial ownership of 1,945,060 shares of Banner Corp.

What percentage of Banner Corp does 1,945,060 shares represent?

The filing states the shares represent 5.62% of Banner Corp common stock as of 06/30/2025.

What voting and dispositive powers does Victory Capital hold over these shares?

Reported powers are sole voting power: 1,927,082 and sole dispositive power: 1,945,060.

When was the Schedule 13G/A amendment signed?

The amendment was signed by Barry Garrett, Chief Compliance Officer, on 08/08/2025.

Does the filing indicate Victory Capital seeks to influence control of Banner Corp?

No. The filing certifies the securities are held in the ordinary course of business and were not acquired to change or influence control.