Banner Corporation Receives Regulatory Approval for AmericanWest Bank Merger with Banner Bank

Banner Corporation ("Banner"), the holding company for Banner Bank, previously announced that it had entered into a definitive agreement pursuant to which AmericanWest's holding company will merge with and into Banner and AmericanWest Bank will merge with and into Banner Bank. In connection with the proposed transaction, Banner has received the written approval of the Federal Reserve Board. Banner has also received approval from the Federal Deposit Insurance Corporation and the Washington Department of Financial Institutions. The transaction is expected to close early in the fourth quarter of 2015, subject to customary closing conditions, and does not require any further approvals on the part of the shareholders of either company. At the time of the close, the combined company will have approximately $9.7 billion in assets and approximately 190 branches across five western states.