Banner Corporation, the parent company of Banner Bank, announced Peter J. Conner has informed the company of his intention to retire from his position as Executive Vice President and Chief Financial Officer of the Company, effective Oct. 10. He will also be retiring from his position as Executive Vice President and Chief Financial Officer of Banner Bank, effective April 10. Effective April 11, Robert G. Butterfield, currently Senior Vice President and Chief Accounting Officer of Banner Bank, will be promoted to EVP of the Bank, will succeed Conner in the position of CFO of the Bank and will become a member of the Bank’s Executive Management Committee. To ensure a smooth transition, Butterfield will continue to report to Conner.
When Conner retires as the company’s CFO on Oct. 10, Butterfield will be appointed to the expanded role of CFO of the company and begin reporting to Mark J. Grescovich, President and CEO. At that time, Conner will transition to a reduced schedule in connection with his new role as special advisor to the CEO, until his retirement from the company April 10, 2024.
Conner joined Banner Bank as CFO in 2015 as part of the AmericanWest Bank acquisition. He began his banking career in 1989 and progressed through several leadership positions with a variety of money center and community banks prior to joining AmericanWest as CFO in 2010.
“We are extremely grateful for Peter’s many substantial contributions to Banner,” said Grescovich. “He has been integral in helping guide us through a period of significant expansion and growth and his extensive financial expertise has put Banner in a position of strength. We respect his desire to make this change so he can spend additional time with his family. The board joins me in thanking Peter, and we wish him and his family all the very best in his retirement.
“It’s been a privilege to have had a key part in Banner’s growth, and in further solidifying our strong financial position,” said Conner. “I hired Rob. We’ve worked closely together and are like-minded in our approach and strategies, so I have tremendous confidence this will be a smooth transition. Banner is well-positioned for a continuation of our long-term strategy and future growth opportunities.”
Grescovich commented, “Rob’s appointments are a natural progression of our succession planning and facilitate a seamless transition as he has worked alongside Peter for more than seven years. In fact, he has been instrumental in our successful implementation of our corporate value creation strategy the past two years. Rob is a consummate finance leader, experienced in leading many areas of finance and accounting, including financial reporting. We are confident in his ability to lead our financial team into the future.”
A Certified Public Accountant, Butterfield has more than 26 years of highly specialized financial expertise, including 22 years in the financial services industry. He was Senior Vice President, Controller and Principal Accounting Officer at Sterling Savings Bank when the company was acquired by Umpqua Bank in 2014 where he accepted the position of Controller until joining Banner Bank as Chief Accounting Officer in 2015. Butterfield began his career as an auditor with BDO USA, LLP. He earned his bachelor’s degree in accounting and is a graduate of Pacific Coast Banking School.
“Banner has tripled in asset size since I joined the organization; it has been very rewarding to work alongside Peter and be a part of that growth,” said Butterfield. “I am looking forward to leading our talented finance team and being a part of future growth opportunities.”