State Bank Northwest has opened a new loan production center in downtown Rockford, about 15 miles south of Spokane Valley.

The new office, located at the southwest corner of Emma Street and First Street in Rockford, opened on Dec. 1 within a building built in the early 1900s that had housed other banks’ branches previously, says Gregory Deckard, CEO and chairman for the Spokane Valley-based bank.

State Bank’s opening of the Rockford office follows the June opening of a similar loan servicing center in Colfax, Washington. The company also plans to open an office in Palouse, Washington next year. 

Primarily due to supply chain issues that have caused a delivery delay of ATM machines and other banking equipment, the Rockford office hasn’t applied yet for regulatory approval to be a full-service branch, says Deckard. He estimates that by the end of next year’s first fiscal quarter, the office will be working as a full-service branch with a 24-hour ATM, night drop offs, and a full-service bank teller. 

Currently, branch personnel can meet with customers and close loans, and open accounts, although the branch isn’t authorized to complete some of the typical transactions performed at a full-service branch, such as receiving deposits, says Deckard. Instead, they are using the bank’s courier service to transport documents and materials to a full-service branch.

In June, State Bank Northwest also opened a loan servicing center in Colfax, Washington, which has experienced the same supply chain issues as Rockford, and is not yet at full branch capacity, Deckard says.

Jacob Holling, senior vice president and agricultural lending officer; Zach Young, vice president and agricultural lending officer; and Betsy Fuchs, commercial loan assistant, currently are staffing the Rockford office.

Holling and Young are among six new agricultural bankers that were hired earlier this year by State Bank Northwest to serve the Colfax, Rockford, and Palouse branches.

Since their hiring, the six new agricultural officers have contributed significantly to the bank’s loan growth, Deckard says.

“They have assisted in about 40% loan growth this year,” Deckard asserts. “We’ve seen such a tremendous response from the community, local farmers, and businesspeople,” he adds.

With the opening of the three branches, State Bank Northwest is doubling its branch structure to six total branches. Its other branches are in Spokane, Spokane Valley, and Garfield.

Deckard says that because so many clients are following the new ag bankers, it was important for these clients to have the convenience to bank with State Bank Northwest as soon as possible, even if the branches aren’t yet full service.

In addition, the opening of the three new branches and hiring of the new ag loan officers is a strategic move by State Bank Northwest to fill in the rural areas between Spokane Valley, where it is headquartered, and Garfield, where the bank was originally founded and still operates a bank branch, Deckard says.