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Banking & Finance

—Mercier Architecture & Planning

Cheney credit union develops West Plains branch

Membership has expanded 17 percent since early 2013
April 13, 2017
Mike McLean
Cheney Federal Credit Union has started construction on its second branch, which will be located at the south corner of Westbow Boulevard and Aero Road, near the Interstate 90-Medical Lake interchange, says JoAn Sanders, CEO of the credit union. The 2,70
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--Wolfe Architectural Group

Washington Trust Bank parent posts strong growth in net income

Company sees increases in assets, loans, deposits
March 30, 2017
LeAnn Bjerken
WTB Financial Corp., the Spokane-based parent of Washington Trust Bank, has reported significant full-year growth, with increases in net income, loans, deposits, and assets, for 2016. The company reported net income of $52 million for last year, up from
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—Kevin Blocker

ICM Asset Management partners go separate directions as rumors swirl

Ex-employees have formed new financial advisory firm
March 30, 2017
A split between two former partners at a longtime, Spokane-based investment firm has led to the creation of a new firm here, with the previous company continuing to maintain $145 million in client investments under management. Jim Simmons, CEO of 35-year
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—Chris Street

Financial discipline serves Union Gospel Mission

Nonprofit stays debt free, owns facilities, director says
March 16, 2017
Chris Street
In Spokane, the homeless population is served by several charities, including Union Gospel Mission, started in 1951. How does a 66-year-old charity survive? The answer lies in multiple revenue streams, a tightly managed foundation, a strong marketing ef
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—Kevin Blocker

Fulcrum Financial Group driven by clients' goals

Carlson says more women needed as financial planners
March 16, 2017
Sarah Carlson, a certified financial planner based in Spokane, says she's highly motivated to provide long-term financial security, along with outstanding customer service, to her clients as the owner and operator of Fulcrum Financial Group. 'Our cli
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Spokane CPA firm merges into Eide Bailly

Langenhorst & Self-Merritt was founded here in 1997
March 16, 2017
LeAnn Bjerken
Langenhorst & Self-Merritt, CPAs, PS, has merged its operations into the Spokane office of Fargo, N.D.-based Eide Bailly LLP, a regional certified public accounting and business advisory firm. Founding partner Hubert Langenhorst says following the merger
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Northwest Farm Credit's earnings drop

Co-op says some markets affected by oversupply
March 2, 2017
LeAnn Bjerken
Northwest Farm Credit Services has reported 2016 earnings of $247.2 million, a decrease of $8.4 million, or 3 percent, compared with $255.6 million in 2015. The Spokane-based agricultural lending cooperative says higher earnings in 2015 were a result of
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—Kevin Blocker

Home equity loan demand expected to rise here

HELOC volumes surpass peaks during recession era
March 2, 2017
Spokane-area lenders say they've recently been approving more applications for home equity lines of credit, commonly referred to as HELOC loans, reminiscent of around the time of the Great Recession. 'We're seeing home equity lines of credit reach
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—LeAnn Bjerken

Spokane-area credit unions looks to expand commercial lending

Several cooperatives expand business lending services here
March 2, 2017
LeAnn Bjerken
Following several years of increased demand for commercial lending services here, several credit unions say they're looking to put greater emphasis on building up that portion of their loan portfolios. Lynn Heider, vice president of public relations a
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-

SBA-backed lending starting strong in the Inland Northwest this year

Loan volume decreased by 5.2 percent last year
March 2, 2017
Mike McLean
U.S. Small Business Administration-backed lending has started strong in 2017, and demand for the guaranteed loans looks to remain steady, some top SBA lenders here say. Ted Schinzel, SBA's Spokane branch manager, says, however, that although 2017 has s
Read More
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