Banner : Code of Ethics - Form 8-K

ITEM 5.05.Amendments to the Registrant's Code of Ethics, or Waiver of a Provision of the Code of Ethics.

On July 25, 2023, the Board of Directors of Banner Corporation (the "Company") approved certain amendments to the Company's Code of Ethics and Business Conduct, as reflected in an amended version of the Code of Ethics and Business Conduct (the "Code"). The Code governs the conduct of all officers, directors, and employees of the Company and its subsidiaries.

The amended Code is effective September 18, 2023, and does not result in any waiver with respect to any officer, director or employee of the Company from any provision of the Code as in effect prior to the Board's action to amend the Code.

The Code was amended to, among other things, augment and increase clarity regarding the acceptance of gifts and entertainment, limitations on processing transactions for family members, expectations for ethical and professional behavior both inside and outside of work, the use of corporate resources for political purposes, and communications with public entities or elected government officials during active request for proposals periods or for the purpose of obtaining business.

The description of the amendments to the Code contained in this Current Report on Form 8-K is qualified in its entirety by reference to the full text of the Code, as amended, which is filed herewith as Exhibit 14.1.