Business Context and Reporting Period
This Form 8-K Current Report was filed by Banner Corporation (BANR) on December 20, 2021, regarding an event reported on December 22, 2021. The company is incorporated in Washington and its common stock trades on The NASDAQ Stock Market LLC.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The report focuses exclusively on a corporate action regarding share repurchases.
Material Changes
The Board of Directors authorized a new stock repurchase program. The key details of this authorization are:
- Authorization Date: December 22, 2021
- Shares Authorized: Up to 1,712,510 shares of common stock
- Percentage of Outstanding: Approximately 5% of the Company's common stock
Guidance, Outlook, and Risks
The filing does not provide updated financial guidance, management commentary on future outlook, or specific risk factors related to the repurchase program. The announcement is incorporated by reference to a press release (Exhibit 99.1).
Investor Verification Checklist
- Verify the total number of shares outstanding to confirm the 5% calculation.
- Review the attached press release (Exhibit 99.1) for specific terms regarding the duration of the repurchase program and pricing constraints.
- Check subsequent filings to track the actual number of shares repurchased under this authorization.