Banner Corporation Adds Monica O’Reilly and Judith Steiner to Board
Banner Corporation (NASDAQ: BANR), the parent company of Banner Bank, has announced the appointment of Monica O’Reilly and Judith Steiner to its Board of Directors, effective March 1, 2026, marking a significant milestone in the organization’s ongoing strategy to enhance governance oversight, deepen regulatory expertise, and reinforce its risk management framework as it positions itself for sustainable long-term growth in an increasingly complex financial services landscape
The appointments also extend to the Board of Directors of Banner Bank, ensuring that both leaders will play a direct role in guiding the strategic direction and oversight of the bank’s operations, risk posture, and governance priorities across its footprint in the Pacific Northwest and beyond
Monica O’Reilly will initially serve on the Corporate Governance/Nominating Committee and the Risk Committee, while Judith Steiner will join the Credit Risk Committee and the Risk Committee, aligning their deep professional expertise with key areas of board-level oversight that are critical to Banner’s long-term performance, regulatory standing, and shareholder value creation
Strengthening Governance at a Time of Industry Transformation
The banking industry continues to navigate rapid change driven by evolving regulatory expectations, digital transformation, cybersecurity risks, artificial intelligence integration, and shifting macroeconomic conditions, and Banner’s decision to add two seasoned financial services leaders to its board reflects a proactive governance approach designed to anticipate challenges rather than merely respond to them
By expanding its board with individuals who possess extensive experience in enterprise risk management, regulatory compliance, legal oversight, cybersecurity strategy, and corporate governance, Banner underscores its commitment to maintaining high standards of transparency, accountability, and strategic discipline
Both O’Reilly and Steiner bring more than three decades of experience in financial services, equipping the Board with institutional knowledge and forward-looking insights that are particularly valuable as regional and community banks operate within an increasingly scrutinized regulatory environment
Monica O’Reilly: Strategic Advisor and Governance Expert
Monica O’Reilly joins the Board as a recognized strategic leader with more than 30 years of experience advising global financial services organizations on achieving business results while managing risk and regulatory complexity
Most recently, she served as Vice Chairman and U.S. Financial Services Leader at Deloitte from 2020 to 2025, where she led advisory and strategic initiatives for major financial institutions navigating regulatory transformation, operational risk modernization, cybersecurity threats, and emerging technology adoption
During her tenure at Deloitte, O’Reilly also served on Deloitte’s Board Council and Strategic Investment Committee, where she oversaw acquisitions and strategic investments designed to expand the firm’s capabilities and market positioning, giving her direct experience in evaluating enterprise growth opportunities and long-term capital deployment strategies
As Co-Chair of Deloitte’s Nominating Committee, she played a pivotal role in CEO and board director selection processes, further strengthening her credentials in governance best practices, succession planning, and board effectiveness—areas that are increasingly vital for publicly traded financial institutions operating under heightened regulatory and investor scrutiny
Her advisory work spans regulatory compliance frameworks, enterprise and operational risk management systems, artificial intelligence governance, and cybersecurity resilience, placing her at the intersection of technology innovation and regulatory accountability
O’Reilly has co-authored influential reports on board governance, the financial marketplace, and risk management, contributing thought leadership that informs both corporate boards and executive leadership teams across the industry
In recognition of her impact and leadership, she was named one of the “Most Influential Women in Business” by the San Francisco Business Journal in 2021, highlighting her standing as a respected voice within the financial services and governance community
She holds a Bachelor of Arts in English and Education from Queen’s University Belfast and completed the Executive Leadership Program at Wharton Business School, reflecting both academic grounding and executive-level leadership development
Judith Steiner: Deep Expertise in Risk, Legal, and Compliance
Judith Steiner returns to Banner’s governance framework with a deep understanding of the institution and extensive experience in risk leadership, legal oversight, and regulatory compliance within the banking sector
With more than 30 years in financial services, Steiner previously served as Executive Vice President and Chief Risk Officer of Banner Bank from 2016 to 2021, overseeing enterprise-wide risk management strategies during a period of industry transformation and regulatory evolution
Her responsibilities encompassed enterprise risk management, compliance oversight, anti-money laundering programs, Bank Secrecy Act adherence, Office of Foreign Assets Control compliance, fraud prevention initiatives, Community Reinvestment Act compliance, insurance oversight, and credit review operations, providing her with a comprehensive view of the interconnected risk factors facing modern financial institutions
Prior to her tenure at Banner Bank, Steiner spent 25 years at FirstMerit Bank, including serving as Executive Vice President, Chief Risk Officer, General Counsel, and Secretary from 2008 to 2015, roles that placed her at the center of strategic risk governance and legal compliance decision-making during periods of regulatory tightening and post-financial crisis reform
Her dual expertise in legal counsel and risk leadership enables her to evaluate complex regulatory requirements through both a compliance and operational lens, ensuring that risk mitigation strategies align with business objectives while meeting supervisory expectations
Steiner earned a Juris Doctor from Case Western Reserve University and a Bachelor of Arts from University of Akron, grounding her professional practice in rigorous legal and academic training
Strategic Committee Assignments
The committee assignments for O’Reilly and Steiner reflect a deliberate alignment between expertise and board responsibilities
O’Reilly’s placement on the Corporate Governance/Nominating Committee positions her to apply her extensive experience in board composition, CEO succession, and governance oversight to Banner’s long-term leadership planning and director evaluation processes, while her role on the Risk Committee allows her to contribute insights into emerging technology risks, cybersecurity oversight, and regulatory compliance frameworks
Steiner’s service on the Credit Risk Committee leverages her background in credit review and enterprise risk management, providing seasoned oversight of loan portfolio quality, underwriting standards, and credit risk mitigation practices, while her role on the Risk Committee ensures that enterprise-wide risk considerations remain integrated and coordinated across the organization
Together, their committee participation strengthens Banner’s governance architecture and reinforces its commitment to maintaining disciplined oversight across both strategic and operational risk domains
Leadership Perspective from the CEO
Mark Grescovich, President and Chief Executive Officer of Banner, emphasized the strategic importance of the appointments, noting that the addition of Monica O’Reilly and Judith Steiner represents a meaningful enhancement to the Board’s collective expertise and leadership depth
He highlighted O’Reilly’s distinguished background advising Fortune 500 boards on regulatory compliance, cybersecurity, and artificial intelligence, alongside Steiner’s significant experience in legal, risk, and compliance leadership, stating that their combined knowledge will strengthen the Board in ways that directly support Banner’s long-term objectives
Grescovich expressed confidence that their insight and leadership will prove invaluable as Banner continues to execute its growth strategy while maintaining disciplined risk management and regulatory alignment
Positioning for Long-Term Growth and Resilience
Banner’s governance evolution comes at a time when regional and community banks must balance growth initiatives with prudent capital management, robust compliance frameworks, and evolving technological demands
The addition of directors with expertise spanning artificial intelligence governance, cybersecurity oversight, regulatory compliance, enterprise risk management, credit risk evaluation, and legal strategy reflects a forward-looking approach designed to anticipate future challenges while reinforcing present-day operational integrity
As financial institutions adopt digital transformation strategies and integrate advanced analytics and artificial intelligence tools into customer service, lending, and operational processes, board-level expertise in technology governance and cyber risk becomes increasingly essential
Simultaneously, regulatory expectations related to anti-money laundering, sanctions compliance, consumer protection, and community reinvestment continue to evolve, requiring boards to maintain vigilant oversight and strategic alignment
By appointing leaders with both advisory and operational experience at major financial institutions, Banner enhances its ability to navigate this multifaceted environment while continuing to serve its communities, customers, employees, and shareholders
A Broader Commitment to Governance Excellence
The appointments underscore Banner’s broader commitment to governance excellence, diversity of experience, and strategic oversight
O’Reilly’s background in global advisory leadership and emerging technology governance complements Steiner’s operational risk and legal compliance experience, creating a board dynamic that blends forward-looking innovation with disciplined risk management
Such diversity of professional perspective strengthens board deliberations, enhances strategic debate, and contributes to balanced decision-making that aligns growth ambitions with risk tolerance
In an industry defined by rapid change, shifting customer expectations, regulatory scrutiny, and technological disruption, institutions that invest in strong governance structures are better positioned to achieve sustainable performance and long-term stakeholder trust
About Banner Corporation
Banner Corporation is a $16.35 billion bank holding company operating a commercial bank in four Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. Visit Banner Bank online at www.bannerbank.com.
