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Latest News

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

Central Pre-Mix seeks rezone near racetrack

Company bought land at auction in 2008, plans to mine it for gravel later
February 25, 2010
Jeanne Gustafson
Central Pre-Mix Development Corp. is seeking to rezone for mining uses 85 acres of land it bought in 2008 at an auction of part of the former Spokane Raceway Park property.Central Pre-Mix, which produces ready-mix cement and sand and gravel to a
Read More

TicketsWest center starts telecommuting

Contractor now operates facility, moves almost half of workers to homes
February 25, 2010
Jeanne Gustafson
The operator of Red Lion Hotels Corp.'s TicketsWest call center here says it has begun having some of the employees in that center work from their homes. TicketsWest outsourced its call center ticket sales in Spokane last spring to Dallas-based
Read More
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