Banner Corp expects generative and agentic AI to impact the competitive landscape.
“We encounter significant competition both in attracting deposits and in originating loans. Our most direct competition for deposits comes from other commercial and savings banks, savings associations and credit unions with offices in our market areas. We also experience competition from securities firms, insurance companies, money market and mutual funds, and other investment vehicles. We expect competition from these institutions to remain strong, including from online banks and financial technology (FinTech) companies that leverage technology to deliver financial services. In addition, new technological developments, including the development and use of generative and agentic artificial intelligence, are rapidly evolving; we expect these technologies will continue to impact the competitive landscape, possibly to an increasing extent. Competition for both deposits and loans is influenced by prevailing interest rates and competitors’ pricing strategies. Our ability to attract and retain deposits also depends on our ability to provide transaction services and investment options that meet client needs. We compete by offering a broad range of deposit products and financial services, including electronic banking capabilities, with competitive rates and terms, convenient locations and hours, and a high level of personal service and expertise. We also compete by developing long-term client relationships and delivering a relationship-based banking model tailored to local markets. We”