Northwest Bancorporation Inc., the Spokane-based parent of Inland Northwest Bank, has reported third-quarter net income of $960,000, or 13 cents a diluted share, down from income of $1.55 million, or 24 cents a share, in the year-earlier quarter.

For the nine months ended Sept. 30, the company posted income of $2.98 million, or 44 cents a share, compared with $3.67 million, or 56 cents a share, in the year-earlier period.

Northwest Bancorp completed its acquisition of Hood River, Ore.-based CenterPointe Community Bank in July, and the company said acquisition expenses contributed to the dip in earnings.

Although net income declined, company President and CEO Russell Lee says in an earnings release that INB has had strong loan growth.

“In addition to the balance sheet growth that came from this acquisition, INB has had significant organic growth over the same period in 2016 with organic loan growth accounting for more growth over this period than that from the acquisition,” Lee says.

As of Sept. 30, Northwest Bancorp had net loans of $677.5 million, up $206.8 million, or 44 percent, from a year earlier.

Its total assets increased year over year as well, to $827.7 million on Sept. 30 from $647 million a year earlier.

Total deposits rose year over year by $161.6 million, or 28.9 percent, to $721.7 million on Sept. 30.

Headquartered in the Paulsen Center, at 421 W. Riverside in downtown Spokane, Inland Northwest Bank operates 21 branches in Washington, Idaho, and Oregon, including nine in the Spokane-Coeur d’Alene market.

Northwest Bancorporation’s acquisition of CenterPointe Community Bank added four branches.