Banking & Finance

Required minimum distribution must be factor in planning

Holders of tax-deferred retirement accounts should know 'ins, outs'

November 4, 2021

When the Individual Retirement Account was established in 1974, it was set up to be funded solely by pre-tax dollars, giving you the benefit of reducing your taxable income and letting your capital grow tax deferred, but with it came the required minimum

Proposed IRS reporting threshold increased; Bankers still don't like it

Supporters in Congress raise amount required to trigger IRS notification after industry blowback

November 4, 2021

Karina Elias

Weeks after proposing a plan to require banks to report on accounts with inflows and outflows of $600 a year over reported income to the Internal Revenue Service, Congress has raised the proposed reporting threshold to $10,000 and added several exceptions

Merging interests at Inland Northwest banks and credit unions

Increase in transactions reflect industry trend

November 4, 2021

Virginia Thomas

Last month, a handful of credit unions and banks with a presence here announced two mergers and completed another. It's part of a pattern of increasing consolidation in both the credit union and banking industries, some industry leaders here say.

Vista Title expands into Stevens County with acquisition

Spokane company purchases longtime Colville office's assets, market coverage

October 21, 2021

Erica Bullock

Spokane-based Vista Title & Escrow LLC has bought Stevens County Title Co., in Colville, Washington, in an acquisition that will expand Vista's services and service area. Vista Title CEO Anthony Carollo says the company will own 100% of the assets of S

New dental building planned in Spokane Valley

Practice slated to move into larger space next July

October 21, 2021

Erica Bullock

Dr. Anthony Weber, owner and dentist at Weber Dental Center, plans to construct a new 12,000-square-foot multitenant building, in Spokane Valley. The practice is expected to move to a new building, located at 16212 E. Indiana in Spokane Valley

Former HUD administrator joins Washington Trust Bank

Patterson to lead bank's livability initiatives here

October 21, 2021

Virginia Thomas

Washington Trust Bank has hired former U.S. Department of Housing and Urban Development regional administrator Chris Patterson to serve in its newly established role of community solutions adviser. Patterson says that in this new role, he'll work with

Gonzaga lands large gifts in noncampaign year

During pandemic, many supporters 'stepped up'

October 21, 2021

Karina Elias

Gonzaga University received $49 million overall in cash and pledges during its most recent fiscal year, says Jeff Geldien, assistant vice principal of academic development. More than 10,500 donors helped to make it one of the biggest years for

Gonzaga, other INW universities enter NIL era

Schools focus on preparing student-athletes for personal branding, other opportunities

October 21, 2021

Karina Elias

Months into the new NCAA policy that allows student-athletes to sell their name, image, and likeness, a handful in the Inland Northwest have begun brokering financial deals and sponsorships. Those deals are in the tens and hundreds of dollars thus

Global, Alaska USA credit unions to join forces

Consolidation expected to be completed in late 2022

October 15, 2021

Virginia Thomas

Anchorage, Alaska-based Alaska USA Federal Credit Union and Spokane-based Global Credit Union intend to combine, the financial institutions announced late Thursday.

New Wells Fargo branch envisioned on South Hill

Lincoln Heights bank location may be ready for February opening

October 7, 2021

Karina Elias

San Francisco-based Wells Fargo & Co. has begun planning a new bank branch inside the Lincoln Heights Shopping Center, on Spokane's South Hill, says Juan Lopez, Wells Fargo's senior communications consultant. The branch will be located at