May 7 / Red Lion reports smaller loss

Red Lion Hotels Corp., of Spokane, reported a first-quarter net loss from continuing operations of $3.2 million, or 17 cents a share, which compared with a loss of $7.1 million, or 37 cents a share, in the 2012 first quarter. The prior-year period, though, included $6.7 million in pre-tax asset impairment charges related to certain assets Red Lion was holding for sale. Red Lion President and CEO Jon E. Eliassen said, "We had a great start to the year driving rate growth at our hotels while expanding our franchise network and continuing to execute our asset sale strategy."

May 2 / Sterling to acquire California bank

Sterling Financial Corp., the Spokane-based parent of Sterling Bank, said it has agreed to acquire Newport Beach, Calif.-based Commerce National Bank in a transaction valued at $42.9 million. The transaction is expected to be completed during the third quarter of this year. Commercial National Bank, which had total assets of $242.7 million as of March 31, specializes in business banking, including U.S. Small Business Administration lending and equipment leasing.

May 1 / Ambassadors posts $8.1 million loss

Ambassadors Group Inc., the Spokane-based provider of educational travel experiences and online education research materials, reported a net loss of $8.1 million, or 47 cents a diluted share, for its seasonally slow first quarter of this year, compared with a loss of $7.9 million, or 45 cents a share, in the first quarter of 2012. Despite the loss, the company said it's seeing indicators of market improvement and has launched a slate of new programs aimed at boosting year-round revenues.

April 30 / Key Tronic's net income dips

Key Tronic Corp., the Spokane Valley-based provider of electronic manufacturing services, posted net income of $2.9 million, or 29 cents a diluted share, for its 2013 fiscal third quarter ended March 30, down from $3.4 million, or 32 cents a share, in the year-earlier quarter. However, for the first nine months of its fiscal year, the company's net income of $10.2 million was up 30 percent from the same period in fiscal 2012, and it said it has paid off more than $16 million in bank debt over the last year, bringing its debt balance to zero. Also, it said it's seeing "a robust pipeline of potential new business."

April 25 / Avista's earnings rise

Avista Corp., of Spokane, reported first-quarter net income of $42.3 million, or 71 cents a diluted share, up from $38.4 million, or 65 cents a share, in the year-earlier period. Scott Morris, Avista's chairman, president, and CEO, said in a press release, "Overall we are off to a good start in 2013." Utility earnings for the quarter were above expectations due to lower operating costs, and the company said it expects normal hydroelectric generation for the year.

April 25 / G&B-involved group buys Montana mall

Spokane-based Goodale & Barbieri Co. said a company formed jointly by one of its affiliates and Salt Lake City-based Woodbury Strategic Partners has bought for $11.6 million the Kalispell Center Mall and Red Lion Hotel, in Kalispell, Mont., from Spokane-based Red Lion Hotels Corp. The shopping complex, now owned by WSPGB Mall LLC, has 38 storefronts and a total of 190,000 square feet of space, and is 95 percent occupied. As part of the transaction, Red Lion has signed a lease agreement for the 170-guest room hotel portion of the property.

Corrections & Amplifications

Social Security recipients who are less than full retirement age have their benefits reduced $1 for every $2 they earn above $15,120 in a calendar year. That Social Security rule was stated incorrectly in the Journal's April 25 edition.