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AI brief of an SEC Form 8-K · Banner (BANR)

Banner promotes Chief Risk Officer Jim Costa to also serve as Chief Operating Officer

Neutral Impact 3 of 5 leadership Written later

Banner Bank Executive Vice President Jim Costa was promoted to Chief Operating Officer of Banner Bank, effective May 26, 2024, while keeping his role as Chief Risk Officer. The company said the change realigns reporting structure, bringing technology, operations and risk management teams together. The filing also sets out his pay and a possible equity award, which may matter to shareholders as executive compensation.

Key points

  • Jim Costa, age 56, joined Banner Bank as Executive Vice President and Chief Risk Officer in October 2021; the promotion took effect May 26, 2024.
  • Annual salary of $500,000, with a short-term incentive target of 65% of eligible earnings and a long-term incentive target of 80% of base salary.
  • Relocation package valued at up to $200,000 plus tax gross-up amounts, tied to his move to Washington state.
  • He may receive restricted stock units or equivalent cash valued at up to $300,000, with the amount to be set by the end of October 2024.

The filing

CompanyBanner (BANR)
Form8-K, current report
Filed with the SECMay 29, 2024, 6:14 PM ET
Accession number0000939057-24-000156

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 29, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.