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Latest News

Economy concerns more rich investors, survey says

Four of five millionaires worry about sluggishness more than other factors
June 7, 2012
The prolonged economic downturn has become the top worry for most wealthy investors, according to new research from Spectrem Group LLC.Four out of five millionaire investors participating in the study cited the sluggish economy as a concern in a
Read More

M&A activity, financing availability improve

Business valuations are rising, but sales depend on performance indicators
June 7, 2012
News Wise
The market for mergers and acquisitions is clearly improving in terms of valuations, financing availability, and deal volume—and that market will continue to do so throughout 2012, a new survey indicates.The survey was conducted by MBA and
Read More

NCUA reports record quarterly highs in assets, net worth

Deposit growth outpaces lending activity, though, and bankruptcies grow
June 7, 2012
Key financial indicators for federally insured credit unions largely improved in the first quarter of 2012, according to Call Report data submitted to and compiled by the National Credit Union Administration."The credit union industry reached in
Read More

Community banks added to index; one institution outgrows inclusion

June 7, 2012
The American Bankers Association has added three banks to the ABA NASDAQ Community Bank Index (ABAQ), effective June 1. The new additions are HomeStreet Inc. (HMST), of Seattle; Wellesley Bancorp Inc. (WEBK), of Wellesley, Mass.; and Bank of the
Read More

Investors paid less in mutual-fund fees in '11, study says

Expense ratio dropped because of competition in industry, more factors
June 7, 2012
Investors paid on average lower expense ratios in 2011 than in 2010 for long-term mutual funds, including equity, bond, and hybrid funds, says an annual report on fund fees and expenses that Investment Company Institute released in late April. is a
Read More
—Staff photo by Mike McLean

Financial planner's division here boasts steady growth

Waddell & Reed offers proprietary, nonexclusive options for investments
June 7, 2012
Mike McLean
The Spokane division of Waddell & Reed Financial Advisors has grown while the financial services industry as a whole has been shrinking, says Jason Renskers, managing principal here.Waddell & Reed, a subsidiary of Overland Park, Kan.-based & and
Read More

Bank profits rose $6.6 billion in first quarter, FDIC says

Overall earnings increase for 11th straight quarter, but loan balances decline
June 7, 2012
Commercial banks and savings institutions insured by the Federal Deposit Insurance Corp. reported an aggregate profit of $35.3 billion in the first quarter of 2012, a $6.6 billion improvement from the $28.8 billion in net income the industry in the
Read More
—Staff photo by Linn Parish

U.S. Bank branches out to develop its future managers

Leader training program is slated to start in August, continue for next two years
June 7, 2012
Linn Parish
To develop the next generation of branch managers, the Spokane region of U.S. Bank is going to try something it hasn't done in a generation or so: recruiting them and training them extensively in-house. The bank is launching the new initiative,
Read More

Mobile payments skyrocket

Transactions projected to increase 42 percent annually through '16
June 7, 2012
Worldwide mobile payment transaction values will surpass $171.5 billion in 2012, a 62 percent increase from 2011 values of $105.9 billion, says Stamford, Conn.-based information-technology research and advisory company Gartner Inc.The number of
Read More

Cost-segregation expert Martin Harski broadens reach

Harski joins New York-based consulting firm that plans to open specialty offices nationwide
June 7, 2012
Treva Lind
Martin Harski, who has offered cost-segregation services here for more than three decades, is expanding dramatically the geographical area he serves.The former owner of Spokane-based Cost Segregation Company Inc. has joined a newly formed cost &
Read More
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