Chief Audit Executive Garcia to Retire; Newman Hired as Replacement

The Banner Bank executive leadership team today announced Jim Garcia, Executive Vice President and Chief Audit Executive, will retire July 15, 2024. Scott Newman has been hired as the next Chief Audit Executive and to ensure a smooth transition his first day is today.

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Jim Garcia, Banner Bank (Photo: Business Wire)

“Jim has been an invaluable member of our executive team and we have benefited in many ways from his time at Banner,” said Mark J. Grescovich, President and Chief Executive Officer. “Jim fostered a culture of transparency and accountability through his consistent, proactive reporting of all audit matters. His commitment to excellence and meticulous attention to detail have earned him the respect and admiration of our Board of Directors as well as his colleagues and industry peers.”

Scott Newman has been hired as the Bank’s next Executive Vice President and Chief Audit Executive. Newman has 30 years of audit experience, more than 20 of those in leadership positions. His experience includes banking, trust, investment management, securities and insurance. Most recently, Newman was the Director of Risk Management and Internal Audit for a large regional insurance company, which included leading their enterprise risk and internal audit. He previously held similar audit executive roles at a large regional bank as well as a global investment management firm.

Newman earned his bachelor’s degree in economics as well as his bachelor’s degree in business administration-finance from Central Washington University. He holds several professional certifications including Certified Internal Auditor, Certified Information Systems Auditor, Certification in Risk Management Assurance, Certified Financial Services Auditor, and Certified Information Systems Security Professional. He is active in the Tacoma community and serves on several professional boards, including the Washington State Board of Accountancy, which is an appointment by the governor.

“I’m confident Scott is an excellent fit for our Banner culture,” Grescovich said. “Additionally, he is well-regarded among industry peers as well as with regulators. He holds a deep commitment to developing relationships with business partners to find optimal solutions for all parties while never compromising ethics and objectivity.”

About Banner Bank

Banner Bank is a Washington-chartered commercial bank that conducts business in Washington, Oregon, California and Idaho. Banner offers a wide variety of commercial banking services and financial products to individuals and small and medium-sized businesses and their employees. Banner Bank is part of Banner Corporation (NASDAQ GSM: BANR), a $15.7 billion bank holding company headquartered in Walla Walla, Washington. Visit Banner Bank at www.bannerbank.com.

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Kelly McPhee Senior Vice President, Communications [phone] [e-mail]