Banner Corp., the holding company for Walla Walla’s Banner Bank, has made a listing by Forbes as one of the 50 Most Trustworthy Financial Companies.
The company was the only one headquartered in the Pacific Northwest to make the list, according to an announcement from Banner.
It’s an offshoot of Forbes’ list of America’s 100 Most Trustworthy Companies. That list, released earlier this year, was compiled using data from proprietary ratings provider and investment adviser GMI Ratings. However, it did not include financial companies, according to reports.
GMI Ratings constructed the list on behalf of Forbes by reviewing the accounting and governance behaviors of more than 8,000 publicly traded companies in North America. The data included high-risk events, revenue and expense recognition methods, SEC actions and bankruptcy risk to determine a company’s credibility, the announcement said.
Inclusion on the list, reports explained, does not necessarily mean investing will lead to great fortune. It’s intended to identify companies as honest and accurate with their data, GMI Ratings Director James Kaplan has said.
“If you’re interested in investing in any of the companies on this list, you can be really comfortable that what you’re reading about them is an honest reflection of what’s going on in the company,” Kaplan said in a Forbes piece. “That doesn’t mean it’s good or bad — but when you read it, you can believe it.”
Banner President and CEO Mark Grescovich said the company is honored to be included.
“Our high standards and thorough corporate governance and accounting processes provide a solid foundation on which our shareholders rely,” he said in a prepared statement. “We endeavor to always do the right thing, which guides all our actions whether they’re in support of shareholders, clients, employees or the communities in which we operate.”