Some banks with a Spokane presence are reporting an increase in third-quarter net income due to strong mortgage production, while others posting a decline for the quarter point to lower interest income due to record-low interest rates as the reason.

W.T.B. Financial Corp., the Spokane-based parent company of Washington Trust Bank, has reported third-quarter net income of $19.9 million, or $7.84 a share, compared with net income of $22.3 million, or $9.31 a share, in the year-earlier quarter. 

The company ascribes the lower income to the U.S. Federal Reserve’s lower interest rates.

Washington Trust Bank has 16 Spokane-area branches and three Coeur d’Alene-area offices.

Portland-based Umpqua Holdings Corp., the parent company of Umpqua Bank, has announced third-quarter net income of $124.9 million, or 57 cents a share. That’s up from net income of $84.5 million, or 38 cents per share in the year-earlier quarter.

The company attributed its improved earnings to its home lending division’s performance. Umpqua’s residential mortgage banking revenue for the nine months ended Sept. 30 was $191.8 million, a 183% increase compared with residential mortgage banking revenue in the year-earlier period.

Umpqua Bank has four branches in Spokane, one each in Spokane Valley, Liberty Lake, Coeur d’Alene, and Hayden.

HomeStreet Inc., the Seattle-based parent company of HomeStreet Bank, has posted third-quarter net income of $26.3 million, or $1.15 a share. That’s a steep increase compared with net income of $13.8 million, or 55 cents per share in the year-earlier quarter. The company attributes its improved earnings to a decrease in funding costs, high loan volumes, and profitable mortgage banking business.

HomeStreet has one bank branch and a commercial real estate lending office in Spokane.

Walla Walla-based Banner Corp., the parent company of Banner Bank, has reported third-quarter net income of $36.5 million, or $1.03 per share, compared with the net income of $39.6 million, or $1.15 per share in the year-earlier quarter.

Banner Bank has eight branches in Spokane, two in Spokane Valley, and one branch each in Liberty Lake, Cheney, and Hayden.

First Interstate BancSystem Inc., the Billings, Montana-based parent company of First Interstate Bank, has reported third-quarter net income of $48.3 million, or 76 cents a share, compared with the net income of $49.1 million, or 76 cents a share, in the year-earlier quarter.

The company notes that its third-quarter 2019 earnings had been reduced by costs related to acquiring Coeur d’Alene-based Idaho Independent Bank and Post Falls-based Community 1st Bank earlier that year.

First Interstate Bank has four branches in Spokane, four in Coeur d’Alene, one in Spokane Valley, one in Airway Heights, and one in Post Falls.

Glacier Bancorp Inc., the Kalispell, Montana-based parent company of Coeur d’Alene-based Mountain West Bank, has reported third-quarter net income of $77.8 million, or 81 cents a share, compared with net income of $51.6 million, or 57 cents a share, in the year-earlier quarter.

Mountain West Bank has one branch in Spokane, a financial center in Spokane Valley, and three branches in the Coeur d’Alene area.

San Francisco-based Wells Fargo & Co. has reported third-quarter net income of $2 billion, or 42 cents a share, compared with net income of $4.6 billion, or 92 cents a share, in the year-earlier quarter. 

Wells Fargo has 11 branches in Spokane and Kootenai counties.