Hart Capital Management Inc.'s Inland Northwest Composite, which gauges the aggregate market value of 15 publicly traded companies in the region, fell by almost $700 million, or about 6 percent, in the second quarter.

The Spokane-based investment firm attributed much of the drop, though, to a steep market value decline by Coeur d'Alene Mines Corp.

Hart Capital reported that as of June 30, the composite stood at $10.2 billion, compared with $10.9 billion at the end of the first quarter. Its report said the quarter-to-quarter drop included a $555.5 million decrease in market capital for Coeur d'Alene Mines.

The composite is still up $3.3 billion, or 48 percent, from three years ago, Hart Capital points out in its report.

During the latest quarter, eight of the companies in the composite rose in value. Market capitalization, on which the composite is based, is a company's share price multiplied by the number of outstanding shares.

Avista Corp. had a $68.7 million value increase, and the value of Hecla Mining Co. rose by $63.8 million. Other companies that showed a rise in value include Intermountain Community Bancorp., up $45.3 million; Clearwater Paper Corp., up $39.5 million; and Potlatch Corp., up $28.3 million.

Red Lion Hotels Corp. also saw a rise in market value, up by $8.6 million to a total $166.7 million market capitalization. Others in positive territory were Spokane-based Inland Northwest Bank parent Northwest Bancorporation Inc. and Ambassadors Group Inc., each up $1.6 million.

Among the companies showing larger market value decreases for the quarter were Itron Inc., down $160.6 million; Sterling Financial Corp., $122.8 million; and Coldwater Creek Inc., $74.2 million. Key Tronic Corp.'s market value fell by $12.7 million. WTB Financial Corp., the Spokane-based parent of Washington Trust Bank, had a value decline of $12.6 million, and Idaho Independent Bank's value fell by $1.2 million.

Additionally, Hart Capital compiles an Inland Northwest Index, which tracks the same 15 companies in an index methodology similar to that of the Standard & Poor's Index. The regional index declined 3.4 percent for the quarter. Comparatively, the S&P 500 declined by 3.3 percent.

The top-performing stocks in the Hart Capital index were Northwest Bancorp., up 8.5 percent; Red Lion Hotels, up 5.4 percent; and Avista, up 4.4 percent. Coldwater Creek fell behind the most, down 52.6 percent for the quarter following weak earnings results.