Banner Corp., the Walla Walla-based parent of Banner Bank, has closed its branch in the Northtown Office Building, at 4407 N. Division, just south of NorthTown Mall.
Kelly McPhee, Spokane-based vice president of communications and public relations for Banner Bank, says the decision to close the branch was based on a lack of customer traffic at the location.
“We’re constantly evaluating our client’s preferences, including how often they use a location and how well it meets their needs,” McPhee says. “Based on those evaluations, it was decided to consolidate that branch into our 6622 N. Division location.”
Banner Bank operates 14 locations in the Spokane area and one in Hayden. McPhee says the North Side branch was the only one in the Spokane area to close, and the bank doesn’t plan to close any other branches here.
Last month, Banner Corp. reported second-quarter net income of $25.5 million, or 77 cents a diluted share, up from $21 million, or 72 cents a share, in the year-earlier quarter.
Mark J. Grescovich, Banner Corp.’s president and CEO, said in a release that growth in business activity, loans, deposits and mortgages fueled the second-quarter gains.
Early in the current third quarter, Banner agreed to sell its seven branches in Utah to People’s Intermountain Bank, of American Fork, Utah. Subject to regulatory approval, that transaction is scheduled to be completed in the fourth quarter. Those seven branches have about $260 million in loans and $180 million in deposits.
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