
Aug. 10 / INB reports increase in earnings
Northwest Bancorp., the Spokane-based parent company of Inland Northwest Bank, posted second-quarter net income available to common shareholders of $120,000, or 4 cents a diluted share, up from a net loss of $418,000, or 14 cents a share, in the year-earlier quarter. Company President Randy Fewel said, "We are pleased with the continued progress being made in profitability. This is directly attributable to the reduction in expenses for problem loans."
Aug. 7 / Allegiant to offer Spokane-to-Hawaii flights
Allegiant Travel Co., of Las Vegas, announced it will offer nonstop jet services between Spokane and Honolulu International Airport beginning Feb. 9, 2013, with introductory fares as low as $180 one way. The new flights are scheduled to operate once weekly between the two cities.
Aug. 7 / Red Lion Hotels posts loss for quarter
Red Lion Hotels Corp., of Spokane, reported a second-quarter net loss of $3 million, or 15 cents a diluted share, down from net income of $18.6 million, or 98 cents a share, in the 2011 second quarter. The 2011 figures included a $33.5 million gain from Red Lion's sale of a Seattle hotel. Total reported revenue from continuing operations during the 2012 second quarter was $38.8 million, down from $42.2 million in the year-earlier period.
Aug. 7 / Spokane, Bellevue pathologists to merge
Spokane-based InCyte Pathology and Bellevue, Wash.-based Eastside Pathology said they have entered into a preliminary merger agreement. The merger would create a Northwest regional pathology practice with 36 certified pathologists with expertise in 27 disciplines and subspecialties.
Aug. 7 / Avista's earnings decline
Avista Corp., of Spokane, reported second-quarter net income of $18.2 million, or 31 cents a diluted share, down from $23 million, or 39 cents a share, in the 2011 second quarter. Avista Chairman, President, and CEO Scott L. Morris said earnings were below expectations "largely because retail loads were lower than we anticipated."
Aug. 7 / Hecla's net income falls
Hecla Mining Co., of Coeur d'Alene, reported second-quarter net income of $2.4 million, or 1 cent a diluted share, compared with $33.2 million, or 11 cents a share, in the year-earlier quarter. Hecla President and CEO Phillips S. Baker Jr. said rehabilitation work at the Lucky Friday mine, which closed late last year due to safety hazards, is progressing ahead of schedule. The company expects to restart production in early 2013 at the mine, located in Idaho's Silver Valley.
Aug. 1 / Providence, Group Health form doctor group
Providence Health Care and Group Health Cooperative agreed to form a new jointly owned company that will create a regional physician organization. The yet-to-be-named limited-liability company will involve nearly 400 physicians and advanced practitioners, including those from Group Health Physicians, Columbia Medical Associates, and Providence Medical Group. The joint venture is expected to be operational later this year.
Corrections & Amplifications
Action Moving Services, a Spokane-based agent for Bekins Van Lines, of Indianapolis, Ind., isn't affiliated with Mountlake Terrace, Wash.-based Bekins Moving & Storage Co., which the Journal reported recently is shutting down its Spokane Valley operations.