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Banking & Finance

Advisers: It's OK to hold on to stimulus money

Pay off debt, build up emergency savings, financial planners say
April 8, 2021
Kevin Blocker
Spokane-area financial advisers have some ideas on what those who received the third round of federal stimulus checks should do with them. Those ideas have less to do with ways to spend the payments of up to $1,400 a person authorized under the
Read More
VIRGINIA THOMAS

Sustained mortgage activity swamps credit unions

Rates predicted to rise this year, cooling demand
April 8, 2021
Virginia Thomas
As the real estate market in the Spokane area remains scorching hot, so does the mortgage lending market, credit union representatives here say. However, they're also in agreement that the current low-rate environment can't last, and some are working
Read More
STATE BANK NW

Inland Northwest bankers navigate low interest rates, slim margins

Financial institutions eye other revenue sources
April 8, 2021
Kevin Blocker
Zero-percent benchmark interest rates have sparked unprecedented loan demand for Spokane-area banks and credit unions. They also have pinched profit margins and shifted focus to noninterest revenue streams, in some cases.
Read More

Guardian Mortgage to add second Spokane office

Home loan provider expects to double staff, add 18 new positions
March 25, 2021
Virginia Thomas
Guardian Mortgage plans to open an office in the Wonder Building, its second Spokane location here in three years, says the company's Spokane-based regional manager Jay Affleck. The company has leased about 3,000 square feet of office space on the
Read More

Banner Bank to lay off handful of employees in Spokane

Company plans to reduce workforce by up to 28 in all
March 11, 2021
Virginia Thomas
Banner Bank is laying off employees here for the first time since it entered the Spokane market. Kelly McPhee, Spokane-based vice president of communications and public relations for the Walla Walla-based bank, says six people here have received
Read More

COVID-induced business concepts urged for 2021

'2020 hindsight' focuses on gaining some momentum
March 11, 2021
Kurt Walsdorf
Many of us in the Spokane and North Idaho business community are seeing progress and momentum after the unexpected challenges we faced in 2020. As you plan for the months ahead, here are some recommendations to continue building resilience
Read More

Downturn squeezes women financially

Child care, disrupted income are having disproportionate toll
March 11, 2021
Sarah Carlson
In Spokane, our community has been hit hard by the pandemic's impacts due to our business demographics and population. According to the Washington state Employment Security Department, our economic engine in the Inland Northwest is a community of
Read More
Innovia Foundation

Pandemic spurs unprecedented giving at Innovia

2020 saw a record $10M in grant awards, well above amount in previous year
March 11, 2021
Kevin Blocker
When Innovia Foundation CEO Shelly O'Quinn moved all office operations from an antiquated database server to a cloud-based system, she had no idea how big of a deal the decision ultimately would be.
Read More

INW nonprofits ramp up planned giving outreach

Nonprofits, advisers report increases in end-of-life donations
March 11, 2021
Natasha Nellis
Planned giving is expected to increase in the coming years, and Spokane-area nonprofits are ramping up efforts to draw in long-term donors. The U.S. is barreling toward the largest wealth transfer in history, with baby boomers expected to transfer
Read More

The Great Wealth Transfer to slam financial advisers

Some say industry could struggle with influx of work in coming years
March 11, 2021
Virginia Thomas
There might not be enough advisers to handle the 'great wealth transfer” anticipated to occur as baby boomers pass away and leave assets to their heirs, some in the Spokane-area financial planning industry say.
Read More
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