Coeur d'Alene-based Idaho Independent Bank reported a net loss of $6.4 million, or 94 cents a diluted share, for 2011, compared with a loss of $5.7 million, or 89 cents a share, in 2010.

The latest annual loss includes a $1.5 million noncash income-tax expense adjustment to the bank's deferred-tax asset account, says Jack Gustavel, the bank's chairman and CEO, in a press release about the bank's year-end results. The bank could recover that expense if it's able to realize the tax benefit through future earnings, Gustavel says.

IIB's total assets as of Dec. 31 stood at $440.8 million, down from $441.6 million a year earlier.

Loans totaled $247.4 million, down from $291.1 million at the end of 2010, and deposits totaled $367.7 million, down from $368.8 million.

As of Dec. 31, IIB's allowance for loan losses totaled $9.5 million, or 3.9 percent of total loans, excluding loans held for sale, compared with a loan loss allowance of $9.9 million, or 3.4 percent, a year earlier, Gustavel says. Nonperforming assets at year-end totaled $35.8 million, a decrease of 13.9 percent compared with a year earlier.

"We will continue to work on improving asset quality, maintaining cost controls, and managing growth during 2012," Gustavel says, adding that the bank raised $6 million in equity capital in October and November.

"IIB has strong capital ratios that are above the thresholds required to be considered well-capitalized under regulatory guidelines," he says.

IIB, an Idaho-chartered commercial bank founded in 1993, has 195 employees bankwide.

In addition to its flagship branch at 1260 W. Riverstone Drive, in Coeur d'Alene, IIB operates a branch in Hayden, three branches in Boise, and branches in Meridian, Nampa, Mountain Home, Caldwell, Star, Eagle, and Ketchum, Idaho.