Walla Walla, Wash.-based Banner Corp.'s board increased the company's quarterly cash dividend to 35 cents per share from the previous quarter's dividend of 25 cents per share.

The dividend is payable April 19 to shareholders of record as of April 10.

Banner's board also renewed its authorization to buy back, in open market transactions, up to 5% of its common stock, or 1,621,549 shares.