Colfax-based Bank of Whitman, which has three branches in the Spokane area, has reported to regulators a net loss of $7 million for 2009, down sharply from net income of $5.8 million in 2008. The bank's loans fell, but its deposits grew significantly.

James Tribbett, the bank's president and CEO, couldn't be reached for comment.

Data the bank filed with the Federal Deposit Insurance Corp. show, though, that it had total loans of $619 million as of Dec. 31, down 2 percent from $630.7 million at the end of 2008, while its total deposits soared 42 percent to $715 million, from $504.8 million a year earlier. The bank's total assets jumped 24 percent to $857 million.

Contributing to the bank's net loss were a $12.6 million provision for loan losses and $3.6 million in loan charge-offs, the data show.

Founded in Colfax in 1977, Bank of Whitman has 20 branches in Eastern Washington. In the Spokane area, it operates branches downtown, at 619 W. Riverside; on the West Plains, at 8727 W. U.S. 2 in the Pacific Northwest Technology Park; and in the Wandermere area, at 12812 N. Addison.