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Banking & Finance

—Mike McLean

Numerica Credit Union branch to be built at Five Mile

Four houses on project site will be relocated
July 14, 2022
Karina Elias
Spokane-Valley based Numerica Credit Union plans to build a new branch at 6281 N. Maple Street, south of W. Francis, near the Five Mile Shopping Center, says, Licia LeGrant, an architect with Bernardo|Wills Architects PC, of Spokane, which is designing
Read More

Angels in the Outstretches: Angel investors sought in rural Inland Northwest

WSU, sp3nw hope to attract 70 candidates
July 14, 2022
Virginia Thomas
Potential investors live in rural areas, but identifying, reaching, and educating them is a challenge, experts here say. It's a challenge that Washington State University and sp3nw are taking on through a new initiative.
Read More

Five business lessons learned in 40 years of banking

Investments in community, people are instrumental to succeed in business
June 30, 2022
Peter F. Stanton
This year, Washington Trust Bank celebrates its 120th anniversary, and 2022 also marks my 40th year at Washington Trust-an achievement that has offered many lessons in banking, business, and community along the way.
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Economy forecasted to bend, not break, this year

Inflation, Fed rate hikes may hamper GDP growth
June 16, 2022
Shawn Narancich
For the first time in more than two decades, the Dow Jones Industrial Average declined for eight consecutive weeks into late May, the longest since 1932. Similarly, the S&P 500 and NASDAQ dropped for seven straight weeks - the first time since 2011
Read More
—Karina Elias

RESCU sees membership grow during pandemic

Small institution has updated tech services
June 16, 2022
Karina Elias
When calling Responders Emergency Services Credit Union, or RESCU, located at 924 W. Sinto, it is likely that the financial institution's CEO, Joyce Lockard, will answer the phone. Lockard says that it's the credit union's personal touch that
Read More

Investors needn't live in fear of potential recession

Downturns inevitable but infrequent; most have been short-lived
June 16, 2022
Tim Mitrovich
'The stock market has predicted nine of the last five recessions.” -Paul Samuelson, Keynesian economist Regarding the realities of recessions, while they are inevitable, they aren't something investors
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Facing market fears starts with admitting they exist

Downturn can provide some opportunities for portfolio adjustments
June 16, 2022
Sarah Carlson
Are you fearful of looking at your financial statements this month? You are not alone. Market pullbacks are never comfortable. We have so much to feel wrong about: crushing inflation, the war in Ukraine, school shootings, and more. Suddenly, your
Read More

Idaho bank, credit union expand into Spokane

Bank of Idaho, ICCU establish presences here as part of growth plans
June 16, 2022
Virginia Thomas
Two southeastern Idaho-based financial institutions have moved into the Spokane area in quick succession. Last month, Idaho Falls-based Bank of Idaho agreed to acquire five branches from Seattle-based HomeStreet Bank, including one branch in downtown
Read More
—Erica Bullock

A trend of interest: Businesses, lender confront rising rates for first time in years

Persistent inflation creates worry for business borrowers
June 16, 2022
Erica Bullock
Federal interest rates are expected to rise continually, and inflation pressure could ease slightly, resulting in more expensive loans for borrowers who have less money to spend because of the current high costs of goods and services. The Federal Open
Read More
—Erica Bullock

Building blocked: Construction costs hinder financing

Lenders seek solutions as contractors scale down some projects
June 16, 2022
Erica Bullock
Some lenders here say they're working around challenges to finance commercial construction developments and keep projects moving forward despite soaring prices of construction materials and rising labor costs, which have resulted in some project
Read More
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