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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 |
OMB APPROVAL
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| [ ] Check box if no longer subject | OMB Number: 3235-0287 | |
| to Section 16. Form 4 or Form | STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP | Expires: January 31, 2005 |
| 5 obligations may continue. See Instruction 1(b) | Estimated average burden hours per response....................0.5 | |
| (Print or Type Responses) | Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility |
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| Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940 |
| 1. Name and Address of Reporting Person* Larsen, Michael K. |
2. Issuer Name and Ticker or Trading Symbol Banner Corporation "BANR" |
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
Director 10% Owner |
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| (Last) (First) (Middle)
10 South First Avenue |
3. IRS Identification Number of Reporting Person, if an entity (voluntary) | 4. Statement for Month/Day/Year 3/26/03 |
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| (Street)
Walla Walla, WA 99362 |
5. If Amendment, Date of Original (Month/Year) |
7. Individual or Joint/Group Reporting | ||||||||
| (City) (State) (Zip) | Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | |||||||||
| 1. Title of Security (Instr. 3) | 2. Trans-action Date (Month/Day/ Year) | 2A. Deemed Execution Date, if any (Month/ Day/Year) |
3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction (s) (Instr. 3 and 4) | 6. Owner-ship Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
Reminder: Report on a separate line for each class
of securities beneficially owned directly or indirectly.
(Over)
*If the form is filed by more than one reporting person, see
Instruction 4(b)(v).
SEC 1474 (9-02)
Potential persons who are to respond to
the collection of information contained in this form are not required
to respond unless the form displays
a currently valid OMB control number.
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FORM 4 (continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
| 1. Title of Derivative Security (Instr. 3) | 2. Con-version or Exercise Price of Derivative Security | 3. Trans-action Date (Month/ Day/Year) | 3A. Deemed Execution Date (Month/ Day/Year) |
4. Trans-action Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr.3, 4, and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Underlying Securities (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of Deriva-tive Se-curities Benefici- ally Owned Following Reported Trans-action(s) (Instr. 4) | 10. Owner-ship Form of Deri-vative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4 ) | ||||
| Code | V | (A) | (D) | Date Exer-cisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Option to buy Common Stock | 15.67 | 3/26/03 | A | 6,000 | * | 3/26/13 | Common Stock | 6,000 | 110,796 | D | |||||
Explanation of Responses:
* Options awarded pursuant to 2001 Stock Option Plan; options are
exercisable at rate of 20% each year beginning 3/26/04.
/s/Michael
K. Larsen
3/27/03
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. ** Signature of Reporting Person Date
See
18 U.S.C. 1001 and 15 U.S.C. 78ff(a)
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure
Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.
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