Dear Pacific Financial Corporation Shareholders,

We are pleased to inform you that we are preparing for our upcoming Special Meeting of Shareholders, which will be held on Wednesday August 12, 2026 at 10:00 am Pacific Time. The primary purpose of the Special Meeting is to vote on a proposal to approve the Agreement and Plan of Merger, dated as of April 30, 2026, between Banner Corporation and Pacific Financial Corporation, pursuant to which Pacific Financial Corporation will merge with and into Banner Corporation. You may attend the Special Meeting at www.virtualshareholdermeeting.com/PFLC2026SM. We encourage you to carefully review the proxy materials for the Special Meeting, which can be found by visiting the following site for Proxy Materials.

The proposed merger represents an exciting opportunity to create a stronger organization with enhanced resources, expanded capabilities, and greater opportunities to deliver long-term value to our shareholders, customers, employees, and communities. Your support is an important and necessary step in helping us realize those benefits.

Pacific Financial Corporation’s Board of Directors recommends you vote “FOR” each of the proposals described in the proxy materials. Shareholders may vote by mail, by phone or by visiting www.proxyvote.com. Additionally, if you have any questions or require assistance with voting your shares, please feel free to contact our proxy solicitor, D.F. King & Co. Inc., toll free at (866) 342-4884 or PFLC@dfking.com or contact your financial advisor. Prompt participation will help ensure that all voting requirements are met and allow us to move forward efficiently with the Special Meeting process.

Thank you for your continued support and for taking the time to vote.