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Latest News

State Bank's deposits, loans, net all rise sharply

March 26, 2009
Kim Crompton
Spokane Valley-based State Bank Northwest's net income jumped to $652,000 last year, up 17 percent from $556,000 in 2007, while its loans, deposits, and assets all grew by double-digit percentages, according to year-end financial documents it has a
Read More

Use online peer-lending sites warily

Internet matchmaking trend offers alternative, but understand the risks
March 26, 2009
It sounds like a marriage made in heaven. On one side, there are people who are struggling with debt who can't qualify for lower rates from conventional lenders or credit card companies. On the other, are folks with money to invest who might like a
Read More

Horizon's net falls; loans, deposits climb

Spokane credit union reports loan charge offs more than double in 2008
March 26, 2009
Jeanne Gustafson
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
Read More
—Staff photo by Jeanne Gustafson

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 &
Read More

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,
Read More

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
Read More

'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
Read More

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
Read More
—Staff photo by Mike McLean

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
Read More

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
Read More
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