August 9 / Hecla boosts net, will expand operations

Hecla Mining Co., of Coeur d'Alene, announced second-quarter net income of $33.2 million, or 11 cents a diluted share, up from $13.7 million, or 5 cents a share, in the year-earlier period. The company said its sales for the quarter increased 33 percent, compared with the year-earlier period, and it continued to benefit from high silver margins. It announced separately a day earlier that its board approved the completion of the No. 4 shaft project at the Lucky Friday mine, in Mullan, Idaho. The company also reported progress on pre-development projects and exploration efforts at other mines, which it said will allow it to increase its production significantly during the next five years.

August 8 / Coeur posts earnings jump

Coeur d'Alene Mines Corp. reported second-quarter net income of $37.2 million, or 43 cents a diluted share, up from a net loss of $50.7 million, or 57 cents a share, in the year-earlier quarter. Coeur President and CEO Mitchell J. Krebs said, "Our second-quarter performance reflects record high production and record low costs per ounce at Palmarejo, another consistent quarter at San Bartolome, and steady progress at Kensington."

August 5 / Regulators seize Bank of Whitman

The Washington State Department of Financial Institutions closed Bank of Whitman, of Colfax, Wash., and appointed the Federal Deposit Insurance Corp. as a receiver. To protect depositors, the FDIC entered into a purchase-and-assumption agreement with Columbia State Bank, of Tacoma, Wash., to assume all of the deposits of Bank of Whitman. Eight of the 20 branches of Bank of Whitman reopened as branches of Columbia State Bank.

August 4 / Red Lion reports jump in net

Red Lion Hotels Corp., of Spokane, reported second-quarter net income of $18.6 million, or 97 cents a diluted share, up from a net loss of $64,000, or less than one cent a share, in the year-earlier quarter. The latest quarterly results included a $33.5 million gain on the company's sale of its Seattle Fifth Avenue property, which was completed during the quarter.

August 4 / Avista's earnings decline

Avista Corp., of Spokane, posted second-quarter net income of $23 million, or 39 cents a diluted share, down from earnings of $25.5 million, or 46 cents a share, in the year-earlier quarter. Avista Chairman, President, and CEO Scott L. Morris said, "Our second-quarter results were slightly below our expectations due to higher-than-anticipated operating costs. However, we continue to be on track to have a good year."

August 4 / INB parent posts loss

Northwest Bancorporation Inc., the Spokane-based parent of Inland Northwest Bank, reported a second-quarter net loss available for common shareholders of $418,000, or 14 cents a diluted share, down from net income of $100,000, or 4 cents a share, in the year-earlier period. Randall L. Fewel, president and CEO of Northwest Bancorp and INB, said the bank decided to add $1.5 million to loan-loss reserves during the quarter as a result of a higher level of charged-off loans, and that decision caused the decline in earnings.

July 29 / Alaska adds flights as Southwest cuts back

Alaska Airlines announced plans to add two roundtrip flights between Spokane and Seattle, effective Jan. 8, 2012. The announcement came three days after Southwest Airlines disclosed that it's canceling its flights between Spokane and Seattle starting in January.

Corrections & Amplifications

Goodman CPA PS is located at 1212 N. Washington, Ste. 110, in Spokane. The address was reported incorrectly in the Journal's July 28 issue.