Banner Corporation Announces Passing of Board Member Cheryl R. Bishop

Rhea-AI Summary

The Banner Corporation (NASDAQ: BANR) Board of Directors announced the unexpected death of board member Cheryl R. Bishop on June 16, 2020. Effective since 2018, Ms. Bishop was a respected leader in the banking industry and former CEO of Skagit Bank, known for her dedication to community banking. Her passing is felt deeply within the company and the communities she served. The board will not fill her position at this time. Banner Corporation operates as a bank holding company with significant assets and services across Western states.

Positive

• Cheryl R. Bishop was a respected figure in the banking sector, contributing to community banking.
• Her leadership and extensive networking helped strengthen the company’s community ties.

Negative

• The loss of Ms. Bishop could create a gap in leadership experience.
• Not filling her board position may lead to continuity concerns.

WALLA WALLA, Wash., June 18, 2020 (GLOBE NEWSWIRE) -- It is with great sadness that the Banner Corporation (NASDAQ GSM: BANR) Board of Directors announces the death of board member Cheryl R. Bishop who passed away unexpectedly June 16.

Ms. Bishop was a retired bank CEO who joined Banner’s board of directors in 2018 following Banner’s acquisition of Skagit Bancorp. She was a long-time, respected leader in the banking industry who dedicated her career to community banking. She was beloved by her employees and well known in the communities throughout Northwestern Washington as a highly-engaged executive who gave of her time and talent to a wide range of community causes and organizations.

“Cheryl was an outstanding leader and valued colleague who achieved many impressive accomplishments throughout her life,” said Mark J. Grescovich, President and Chief Executive Officer. “We were fortunate to have had Cheryl as a member of our board. Her desire to be of service to others touched many lives and leaves a lasting legacy in her community and within our industry. She will be greatly missed.”

Ms. Bishop began her banking career at Skagit Bank in 1971, holding a variety of positions throughout her career before being named Chief Executive Officer in 2004. She served on the board of directors of Skagit Bancorp, Inc. and Skagit Bank from 1991 until the organization was acquired by Banner in November 2018.

During her career, Ms. Bishop was active in the banking industry, both at a state level with the Washington Bankers Association, and nationally with the American Bankers Association, the American Institute of Banking, Financial Women International and Western Independent Bankers. 

Ms. Bishop’s seat on the Banner Corporation board of directors will not be filled at this time.

About the Company

Banner Corporation is a $12.78 billion bank holding company operating two commercial banks in four Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. Visit Banner Bank on the Web at www.bannerbank.com.

Contact:
Mark Grescovich, 
President & CEO
Peter J. Conner, CFO
(509) 527-3636

FAQ

Who was Cheryl R. Bishop and what was her role at Banner Corporation?

Cheryl R. Bishop was a board member of Banner Corporation, serving since 2018 and was a former CEO of Skagit Bank.

What impact does Cheryl R. Bishop's death have on Banner Corporation?

Her passing may affect board dynamics and continuity, leaving a notable gap in leadership experience.

Why will Cheryl R. Bishop's board position not be filled?

The Board of Directors has decided not to fill her position at this time.

What is Banner Corporation's business focus?

Banner Corporation is a bank holding company specializing in a range of banking services across multiple Western states.