Banking & Finance

Earnings fall at many banks with Spokane presence

Some institutions blame lack of PPP funds; others fault rising interest rates

August 11, 2022

More than half of the banks with a presence in the Spokane area report a decrease in earnings for the second quarter of this year. Of 13 institutions with readily available earnings reports that have at least one branch in Spokane County, eight saw second

Numerica to convert investment services to Cetera Financial

Credit union previously was affiliated with CUSO

August 11, 2022

Karina Elias

Spokane Valley-based Numerica Credit Union plans to convert its current investment program to Cetera Financial Institutions, a subsidiary of California-based Cetera Financial Group Inc., says Nancy Almond, Numerica's senior vice president of financial

Young Spokane fintech Haploos goes public (sector)

Virtual credit card maker receives approval from federal agencies

August 11, 2022

Karina Elias

Spokane-based fintech company Haploos Inc. has received clearances from three federal government departments that company CEO Josh Arritola hopes will open up new markets for its virtual credit card. This spring, the U.S. Department of Housing and Urban

Misery Index regains relevance

Nearly forgotten index returns with climbing inflation, other challenges

August 11, 2022

Erica Bullock

Fifty years ago, the U.S. economy was facing a combination of high inflation and unemployment, which brought about the creation of the misery index. Used to help measure general economic distress felt by the average citizen, the misery index originally

Chronic optimism is rational opinion on stocks

Markets said efficient over time, inevitably rebound to new highs

July 28, 2022

Dave Gordon

As I write this, the U.S. stock market is off by the largest amount since the COVID bottom. The fear index watched by many on Wall Street is currently 'extremely high.â€ And it just seems the market's current momentum is down. I've been doing this

Learning the publishing business in retirement

Some Spokane seniors intend to supplement income through writing

July 28, 2022

Karina Elias

This year, Stephen Lalonde, a retired high school teacher, published his fifth book, 'Anissi,â€ the final in a trilogy for which he says had a waiting list of people ready to purchase it. He is 72 years old.

Most near retirement have time for market return

Quality investment mix can provide income tailored to savers' needs

July 28, 2022

Michael Maehl

You've worked diligently and saved and invested for retirement. You put in 40 to 60 hours per week for a whole lot of years. Now, at long last, you'll get to kick back and do whatever pastimes you enjoy.

Favored Few charitable fund focuses on Fairchild

$26K raised in four months for families at the Air Force base

July 28, 2022

Erica Bullock

The Favored Few Support Crew Fund has been established recently at Innovia Foundation to support military service members and their families at Fairchild Air Force Base, an effort for which businesses and individuals have been quick to show

Believe In Me foundation expands mission

Former Morning Star Foundation gives grants to like minded groups

July 28, 2022

Karina Elias

Believe in Me, formerly the Morning Star Foundation, has increased its fundraising efforts and its distribution of funds to Inland Northwest children's charities since changing its name in November, says the foundation's CEO Julie Wukelic.

Foreclosures in Spokane County buck uptick nationally

Defaults so far this year follow same trend as with actions in 2021

July 28, 2022

Erica Bullock

Foreclosure activity in Spokane County this year is holding at the same pace as last year's default volume. That bucks the national trend in which foreclosures are on the rise. Market observers say the Inland Northwest's robust real estate market