Sept. 12 / Mines Management posts loss

Mines Management Inc., of Spokane, reported a second-quarter net loss of $1.6 million, or 6 cents a share, compared with a net loss of $1.2 million, or 5 cents a share, in the year-earlier quarter. Mines Management President and CEO Glenn Dobbs said the company is making progress on re-permitting the Montanore Silver-Copper Project and is in "excellent financial condition."



Sept. 12 / Washington Trust secures Pullman branch site

Washington Trust Bank announced that it has secured a location for its first full-service branch in Pullman, Wash. The Edison Retail Center, at 594 SE Bishop Blvd., will house the interim branch while the permanent branch is being constructed. The bank said the property for the branch currently is being assembled, and the branch has an anticipated opening date of Nov. 1, pending final regulatory approval.



September 12 / City raises water rates

The Spokane City Council voted 4-3 to increase the base water rate fee by 25 cents a month, or 2 percent, at its legislative meeting. Water use fees will rise by 16 percent. The funds will be used to pay for water pipe improvements and other infrastructure. Water rates have increased three times in the last eight years.



Sept. 9 / Hecla Superfund decree approved

Hecla Mining Co., of Coeur d'Alene, announced that the U.S. District Court for the District of Idaho approved Hecla's consent decree regarding the Coeur d'Alene Basin Superfund site. Under the terms of the settlement, Hecla will pay a total of $263.4 million, plus interest, over the next three years to the U.S. government, the state of Idaho, and the Coeur d'Alene Tribe. In return, the company will be absolved of all claims from the Tribe and the state and federal governments regarding its historic environmental liability at the site.



Sept. 8 / AmericanWest to acquire Seattle bank

AmericanWest Bank, of Spokane, announced that one of its holding companies has agreed to acquire Viking Financial Services Corp., of Seattle, and plans to merge its Viking Bank branches into AmericanWest. Viking currently operates seven branches in the Seattle area and, as of June 30, had $406 million in total assets and $390 million in deposits. The transaction is scheduled to be completed by the end of this year.



Sept. 7 / Trader Joe's schedules opening day

Trader Joe's, the Monrovia, Calif.-based grocery store chain, announced that it plans to open on Oct. 28 its first Spokane store. The specialty grocery outlet is currently under construction at the Lincoln Heights Shopping Center, at 2975 E. 29th, on Spokane's South Hill. Trader Joe's currently operates more than 350 stores in 30 states.



Aug. 25 / Itron to redeem notes

Itron Inc., in Liberty Lake, announced it will redeem the remaining 2.5 percent convertible senior subordinated notes due in 2026 in a move intended to strengthen its balance sheet and liquidity. The notes have an outstanding balance of $38.8 million and will be redeemed Sept. 30. The redemption will be funded by the company's cash on hand and available liquidity under its revolving credit facility. Steve Helmbrecht, Itron's senior vice president and CFO, said they redemption will reduce the overall cost of the company's debt, simplify its capital structure, and eliminate potential future share dilution.