Latest News

Horizon's net falls; loans, deposits climb

Spokane credit union reports loan charge offs more than double in 2008

March 26, 2009

Horizon Credit Union reported a 23.5 percent dip in net income for 2008, but posted gains in deposits, loans, and total assets.The Spokane-based credit union reported 2008 net income of $3.6 million, compared with $4.7 million in 2007.Jeff in

JPMorgan Chase prepares to rebrand WaMu branches

Washington, Idaho, Oregon branches will be converted by June; all will stay open

March 26, 2009

Jeanne Gustafson

More than 300 Northwest branches of Washington Mutual Bank, including 19 in the Spokane-Coeur d'Alene market, officially will become Chase bank branches in June, and soon will be led by a longtime regional banker with roots in Spokane.Employees &

Bank of Whitman reports higher net, strong jump in loans, deposits for '08

March 26, 2009

Kim Crompton

Colfax-based Bank of Whitman, which has three branches in the Spokane area, has reported net income of $5.8 million for 2008, up 5 percent from $5.5 million the prior year. Loans and deposits both grew sharply.James Tribbett, the bank's and CEO,

Global posts loss for 2008, sharply higher charge offs

It says $3.5 million loss is due to an increased provision for loan losses

March 26, 2009

Jeanne Gustafson

Spokane-based Global Credit Union posted a net loss of $3.5 million for 2008, compared with net income of $1.1 million in 2007. Greg Benneweis, Global's vice president for finance, says the loss occurred primarily because the credit union its by

'Bank of banks' signals capital woes

Spokane members expect Federal Home Loan Bank of Seattle will remain a strong partner

March 26, 2009

David Cole

While the Federal Home Loan Bank of Seattle says it's disappointed with its own recently reported losses, and is experiencing a capital deficiency, some of its member banks and credit unions here say they're not alarmed and expect the federal "bank

STCU's net falls, but loans, deposits grow

Big credit union added 1,000 members each month last year

March 26, 2009

Jeanne Gustafson

Spokane Teachers Credit Union posted lower net income for 2008, but its assets, loans, and deposits all grew sharply while its membership rolls climbed at a healthy clip.The Spokane-based credit union had $8 million in net income last year, down

The making of a BANK TAKEOVER

Washington Trust acted quickly, with FDIC help, to acquire seized Pinnacle Bank

March 26, 2009

Mike McLean

In early February, Spokane-based Washington Trust Bank had been looking for years to acquire a bank in the Portland, Ore., area with full branching rights, and had informed the Federal Deposit Insurance Corp. of that interest.When the arose to a

Small Business Watch: March 26, 2009

March 26, 2009

Airway Heights man starts design firm Web site and graphic designer Jason Davis has started a business, called Underground Development Group, which he operates from his home in Airway Heights.Underground Development's services and a

Now is perfect time to step up, if you're willing to risk it

Fretting about whether your job is safe is sign you're on wrong track

March 26, 2009

Sales & Marketing

Everyone is climbing a ladder. The only question is which rung are you on?Ever thought about it? It's a way bigger thought than, "Is my job safe?" But if that's what you're thinking, it's probably not. Fretting about whether your job is safe is

Real Estate Roundup

March 26, 2009

Mike McLean

The Bargain Hunter, a new and used sporting goods franchise, has leased 9,000 square feet of floor space in the former Kmart building, at 15303 E. Sprague, for a retail outlet. Dennis Beringer, of Byrd Real Estate Group LLC, handled the Tax has of