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Latest News

Property valuations tick higher for county

$37.2 billion total marks first gain since 2009
February 27, 2014
Mike McLean
The total property value in Spokane County took an upward turn in 2013 for the first time since 2009, and levy rates leveled off after edging higher every year since 2008, says Spokane County Assessor Vicki Horton. Spokane County's total assessed value
Read More

Banner's net declines for quarter, all of 2013

Bank reports increases in total assets, deposits
February 27, 2014
Lucas Thayer
Banner Corp., the Walla Walla, Wash.-based parent of Banner Bank and Islanders Bank, has reported fourth-quarter net income of $11.6 million, or 60 cents a diluted share, a decrease from $13.3 million, or 69 cents a share, in the year-earlier quarter.
Read More
—ALSC Architects PS

Sports field house backers seek design funds

Parks board supports proposed north bank site
February 27, 2014
Mike McLean
The Spokane Sports Commission is seeking a $250,000 legislative appropriation to begin the preliminary design phase of an envisioned $20 million-plus field house and event center that would be developed on mostly city-owned property north of the Spokane R
Read More
—Katie Ross

Engineering trio launches laboratory automation venture here

Design-manufacturing company tiny, but has global aspirations
February 27, 2014
Katie Ross
Three Spokane engineers have joined to launch a company named Empire Laboratory Automation Systems LLC that will design and manufacture products for the laboratory, biosciences, pharmaceutical, educational, and agricultural industries. For now, the compa
Read More
—Treva Lind

Palouse crops get farm bill boost

Legume-related funding totals $135 million
February 27, 2014
Treva Lind
Inland Northwest producers of chickpeas and other legumes expect to see economic benefit from two initiatives in the recently passed five-year farm bill, agricultural industry observers say. One of the measures in the Agricultural Act of 2014 provides $1
Read More
—Treva Lind

Lenders play by new ability-to-repay rules

Criteria meant to verify borrowers won't get in over their heads
February 27, 2014
Treva Lind
Spokane-area banks and credit unions are adjusting to new federal residential mortgage lending standards that require federally insured lenders to take additional steps when collecting a borrower's financial information and calculating ability to repay
Read More

SBA lenders predict volume rebound in 2014

Fee waivers aim to boost demand for smaller loans
February 27, 2014
Mike McLean
Some lending institutions that are among the leaders here in originating U.S. Small Business Administration-backed loans are anticipating renewed interest from borrowers this year, following a dip in total loan volume in the SBA's Spokane district in 20
Read More
—Avista Corp.

Avista capital projects loom

Gas-line, customer-service, dam work totals $235 million
February 27, 2014
Mike McLean
Avista Corp. has several big capital projects totaling $235 million in value in various stages of planning and construction this year in the Spokane area. They range from a $1 million gas-line connection replacement project to an $80 million computerized
Read More

Avista's earnings jump

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February 26, 2014
Staff Report
Avista Corp., of Spokane, reported today fourth-quarter net income of $31.7 million, or 53 cents a diluted share, up from $15.9 million, or 26 cents, in the year-earlier quarter. For the full year, the company posted income of $111.1 million, or $1.85
Read More

Red Lion Hotels posts deeper loss

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February 26, 2014
Staff Report
Red Lion Hotels Corp., of Spokane, reported this afternoon a fourth-quarter net loss of $14 million, or 71 cents a diluted share, compared with a loss of $3.6 million, or 19 cents, in the year-earlier period. For all of 2013, the company posted a loss
Read More
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