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Latest News

Horizon's 2009 net falls; loans, deposits, assets rise

Valley-based credit union tripled its loss provision, paid big insurance fund fee
February 25, 2010
Mike McLean
Spokane Valley-based Horizon Credit Union reported a 64 percent drop in net income for 2009, but posted gains in deposits, loans, and total assets during the year.Horizon reported 2009 net income of just over $1.3 million, down from $3.6 million
Read More

Global posts loss for 2009, boosts loan-loss provision

$2.4 million assessment for insurance program capped 'challenging year'
February 25, 2010
Mike McLean
Spokane-based Global Credit Union posted a net loss of $1.1 million for 2009, compared with a loss of $3.5 million in 2008. Though it pared its losses substantially, the credit union's loans, deposits, and assets all declined.The credit union's
Read More

West Side startup sees big value in buying troubled loans

Financial group seeks to garner part of national market put at $36 billion
February 25, 2010
Kirsten Grind
When a bank fails somewhere across the country, its closure is good news for one new Seattle company.Roanoke Financial Group plans to capture part of the $36 billion nationwide market for failed bank assets left behind by banks when they are and
Read More

State Bank Northwest posts $1.2 million loss; loans fall

Deposits, assets inch up, but charge-offs, loss provisions also climb
February 25, 2010
Kim Crompton
Spokane Valley-based State Bank Northwest posted a net loss of $1.2 million for last year, down from net income of $652,000 in 2008, according to year-end financial documents it has filed with the Federal Deposit Insurance Corp.Though the bank's
Read More
—Staff photo by Mike McLean

Mortgage insurance rules tighten; borrowers go FHA

Stricter criteria on conventional loans are one driver of shift
February 25, 2010
Mike McLean
With lending criteria and mortgage-insurance premium rules tighter now for conventional loans, home buyers increasingly are turning to federally-backed mortgages, for which rules are less strict, lenders here say.Meanwhile, declining property a
Read More

Lenders see upswing in market ahead

Constrained liquidity, sluggish housing still said to have significant impact
February 25, 2010
More than 80 percent of lenders who responded to a recent survey believe the Dow Jones Industrial Average will yield gains this year. Survey respondents also predict that constrained liquidity in the capital markets and sluggish housing market are
Read More
—Staff photo by Jeanne Gustafson

Bigger budget, more loans

$400 million nationally will go to SBA loan programs
February 25, 2010
Jeanne Gustafson
A boost from federal stimulus money improved the lending climate here for small businesses last year, and a proposed near doubling of the U.S. Small Business Administration budget for this fiscal year likely will spur SBA lending further, says Ted
Read More

Small Business Watch: February 25, 2010

February 25, 2010
Sales manager buys into Liberty Lake, Valley Windermere Rick Rieger, a former sales manager for an international medical supplier, says he has bought a 50 percent interest in Windermere Real Estate Valley Inc. from broker and owner The
Read More

Policy center will add to debate here

February 25, 2010
Editor's Notebook
The discussion of public-policy matters here should get a welcome boost with the Washington Policy Center adding its well-researched opinions to the mix more frequently, following its recent opening of an Eastern Washington office here.The says
Read More

INB chief sees return to black ink

Solid core earnings, better credit loss results projected at bank here
February 25, 2010
Richard Ripley
Randall L. Fewel, president and CEO of Inland Northwest Bank, has projected that the Spokane-based institution will return to profitability this year.The bank's parent, Northwest Bancorporation Inc., reported recently a fourth-quarter net loss a
Read More
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