Banner Corporation, the parent company of Banner Bank and Islanders Bank, has named Mark Grescovich as new CEO of Banner Corporation and Banner Bank.

Grescovich, who has been serving as president of both companies since April 2010 and will continue to hold, is a member of the companies’ boards of directors.

Retiring CEO Michael Jones will continue his term on both companies’ boards of directors.

Grescovich, who has more than 23-year of experience in banking industry, was formerly the EVP and chief corporate banking officer for FirstMerit Corporation and FirstMerit Bank.

Banner Corporation board chairman Gary Sirmon said that Grescovich’s experience and success in leading a multi-state franchise has been a major asset to the company as Banner continues to expand in Washington, Oregon and Idaho.

“At the same time, we are grateful for the eight years of service, growth and strategic direction that Mike Jones provided Banner and wish him success in his retirement,” Sirmon said.