Bankcda plans Spokane

branch in Five Mile area

Coeur d'Alene-based bankcda is expanding with its first branch in the city of Spokane, where the financial institution has leased an old Bank of America building in Spokane's Five Mile neighborhood, says Wes Veach, president and CEO of bankcda.

"We want to be in Spokane, and now is the time to do it for us," Veach says. "We're growing and profitability is good."

Tenant improvements, valued at over $500,000, are expected to begin this month for the full-service branch located at 1628 W. Five Mile Road. The branch is expected to open in the fourth quarter, and four to five employees will be hired to work at that location, he says.

Updates to the 3,600-square-foot building will include new exterior signage and panel siding accents in addition to a new drive-up ATM. Inside, improvements involve bathroom updates to meet Americans with Disabilities Act compliance, three new enclosed offices, and an enclosed conference room. Miller Stauffer Architects PA, of Coeur d'Alene, designed the improvements.

The North Idaho bank has served customers who live or work in Spokane County since it was founded in 2001, with Spokane County customers comprising about 10% of bankcda's account holders.

"We've been looking at the Spokane market for quite a while,” Veach says.

The bank’s parent company, Coeur d’Alene Bancorp, recently reported net income of $383,500, or 20 cents per share, for the second quarter of 2024, down from $543,200, or 29 cents per share, in the year-earlier quarter.

Loans totaled $120.6 million, as of June 30, up from $112.1 million a year earlier, and assets totaled $239.8 million, an increase of $3.4 million from a year earlier.

Deposits totaled $196.8 million as of June 30, down from $213.1 million a year earlier.

Washington Trust parent

posts dip in Q2 earnings

 W.T.B. Financial Corp., the parent company of Spokane-based Washington Trust Bank, reported net income of $11.7 million, or $4.69 per diluted share, for the second quarter ended June 30, compared with income of $12.8 million, or $5.12, per share in the year-earlier quarter.

Net loans totaled $6.62 billion as of June 30, up from $6.14 billion in the year-earlier quarter, and assets totaled $10.8 billion, up from $10.65 billion.

Deposits totaled $7.96 billion, up from $7.88 billion a year earlier.

“Our performance continued to incrementally improve,” W.T.B. board chair Peter F. Stanton says in a letter to shareholders. “Higher loan yields and lower funding costs helped net interest margin widen by 11 basis points to 2.46%.”

Umpqua Bank parent

reports drop in income

Tacoma-based Columbia Banking System Inc., the parent company of Umpqua Bank, has reported second-quarter net income of $120 million, or 57 cents per share, down from $133 million, or 64 cents a share, for the year-earlier quarter.

The bank reported total assets of $52.05 billion as of June 30, down from $53.59 billion a year earlier. The assets include loans totaling $37.71 billion as of June 30, up from $37.05 billion a year earlier.

The bank reported total deposits of $41.53 billion, as of June 30, up from $40.83 billion a year earlier.

The bank’s nonprofit philanthropic arm, Umpqua Bank Charitable Foundation, recently awarded grants ranging from $5,000 to $10,000 for a total of $337,500 to 56 nonprofits in seven states within its service area. Recipients include Family Promise of Spokane, and the Coeur d’Alene affiliate of Habitat for Humanity International.

Umpqua has 11 branches in the Spokane-Coeur d’Alene area.

Glacier’s Q2 earnings

report shows 19% fall

Glacier Bancorp Inc., the Kalispell, Montana-based parent company of Coeur d’Alene-based Mountain West Bank and the recently acquired Spokane-based Wheatland Bank, reported net income of $44.7 million, or 39 cents per diluted share, for the second quarter ended June 30. That was down 19% compared with net income of $55 million, or 50 cents per share, in the year-earlier quarter.

Glacier President and CEO Randy Chesler attributed the drop in income in part to increases in funding costs and other costs associated with the acquisition of Wheatland Bank.

Glacier reported total assets of $27.81 billion as of June 30, up from $27.53 billion a year earlier. Assets included net loans of $16.65 billion, up from $15.77 billion.

Deposits totaled $20.1 billion as of June 30, up from $20.01 billion a year earlier.