Northwest Bancorporation Inc., the Spokane-based parent company of Inland Northwest Bank, reported first-quarter net income attributable to common shareholders of $436,000, or 14 cents a diluted share, up from $156,000, or 6 cents a share, in the year-earlier period.
The company said the results marked its fifth consecutive quarter of profitability.
Company and bank President and CEO Randy Fewel said in a press release, "First-quarter results were very encouraging. We made progress in many key areas."
Inland Northwest Bank's nonperforming assets decreased 40 percent compared with the year-earlier period to $10.3 million as of March 31, the lowest level since 2008.
The company had $5 million in total revenue for the quarter, up from $4.7 million in the year-earlier period.
As of March 31, the company had $334.4 million in total deposits, down 3 percent from the year-earlier period. Its total assets on March 31 stood at $391.8 million, down 2 percent from the previous quarter.
Inland Northwest Bank's loan portfolio stood at $270 million on March 31, down from $271.5 million a year earlier.
Inland Northwest Bank currently operates 11 branches in Eastern Washington and North Idaho.