Intermountain Community Bancorp, of Sandpoint, says it will hold town hall meetings in March in 19 communities it serves across Idaho and Eastern Washington to talk about how it will use money it has received from the U.S. government and also to discuss with local leaders how its banks can invest in community-betterment initiatives.

Intermountain has received $27 million through the U.S. Treasury Department's Troubled Assets Relief Program, or TARP. Intermountain says it has reviewed opportunities to use the funds "for the best long-term impact, and has determined that direct investment into its communities is the most ethical and beneficial course of action."

"Significant funds will be made immediately available for lending in the community, to help stimulate economic activity, and (to) rebuild a platform of prosperity," it says.

In addition, Intermountain says, it has been working on a strategy to infuse capital directly into community initiatives and hopes it will "engage over 1,000 new community volunteer leaders, improve over 100 community education and economic initiatives, and engage 100 percent of IMCB employees" in those efforts.

Rick Youngblood, Intermountain's president of community development, says those initiatives are yet to be discovered, but Intermountain executives—including CEO Curt Hecker, who will attend all 19 town hall meetings—will talk with economic development leaders and others in the sessions about their ideas.

"Anything work-force, business-creation, or job-creation related" especially could qualify for the program, with education and training efforts also of interest to Intermountain, Youngblood says.

Intermountain already is involved in community auctions to help nonprofits by matching amounts raised; community "star" programs that honor volunteers who select charities that will receive cash awards from Intermountain; and programs that provide scholarships for high school students. It does all three programs in the 19 communities where it will hold the town hall meetings, and Hecker hopes that the new initiatives will double the total number of community initiatives Intermountain supports, Youngblood says.

While some critics have said banks haven't lent much of the TARP money they've received, Youngblood says, "We've always lent money. We continue to lend money. Has the criteria tightened a little? Sure it has."

Yet, he says, misconceptions abound about TARP, with people asking Intermountain, "'Did you participate in TARP because you're having trouble?' We've said, 'No, we participated in TARP because we were asked to participate.' There's a lot of mixed messages from TARP."

Intermountain has received funds under TARP's Capital Purchase Program, which is designed for healthy banks, Youngblood says. It sold preferred stock to the Treasury, but must repay the government for its investment, with interest.

Intermountain says Hecker will address questions from shareholders, customers, and the media in the town hall meetings.

Intermountain's banking subsidiary, Panhandle State Bank, operates banking locations in eight North Idaho cities. Its Intermountain Community Bank, which is a division of Panhandle, operates branches in five southwest Idaho cities and Ontario, Ore. Intermountain Community Bank Washington, another division of Panhandle, operates branches in Spokane and Spokane Valley. Magic Valley Bank, yet another division of Panhandle, operates branches in two southern Idaho cities.