Item 8.01 Other Events.

Banner Corporation ("Company") the parent company of Banner Bank and Islanders Bank, announced on November 21, 2012 that it intends to redeem the remaining 30,041 shares of its outstanding Fixed Rate Cumulative Perpetual Preferred Stock, Series A ("Series A Preferred Stock") that were issued under the Troubled Asset Relief Program Capital Purchase Program. The effective date for the planned redemption will be December 24, 2012. The shares are being redeemed from third-parties that purchased the Series A Preferred Stock from the United States Department of the Treasury in a modified Dutch auction in March 2012. Following the planned redemption on December 24, 2012, no shares of the Company's Series A Preferred Stock will remain outstanding.

For additional information, see the Company's press release furnished as Exhibit 99.1 and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibit is being furnished herewith and this list shall constitute the exhibit index:

99.1 Press Release of Banner Corporation dated November 21, 2012.

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