Banking & Finance

Bond investors should be preparing for volatility

Long-term rally could be coming to an end soon

June 19, 2014

For the last 30-plus years, it hasn't particularly mattered whether you owned bond funds or individual bonds. Helped by falling interest rates, they both delivered consistent income and a counterbalance to stock market volatility. But, with higher rate

Bank of America looks to build on loan growth in Spokane

Institution now employs about 350 people locally

June 19, 2014

Katie Ross

Bank of America Corp., the Charlotte, N.C.-based financial institution, increased its small business loans in Washington state by 22 percent last year and hopes to keep that momentum rolling, says Kurt Walsdorf, Spokane-based senior vice president and mar

Minimize risk of outliving your investment income

Planning is paramount as retirement dynamics shift

June 19, 2014

Hedley W. Greene and Bruce Pedey

It's 1950 and you are at the 'retirement ageâ€ of 65. It's expected that you will retire, and there's more than a gentle hand on your back as you clear out your desk. Social Security has been in place since 1935 thanks to FDR and the New Deale

Spokane's economy is on consistent growth track

Jobs continue to increase; wage growth is a concern

June 19, 2014

Steve Scranton

Spokane has seen 2014 start with a more consistent pattern of economic growth than the nation as a whole. Unlike much of the Midwest and East Coast, Spokane didn't suffer through the severe winter weather that hampered economic activity. The picture t

Gifting can help with estate taxes

Washington's rate affects more residents than feds' rules

June 19, 2014

Mike McLean

With historically high exemptions, fewer people are paying federal estate and gift taxes now than decades ago, but more Washington state residents should be aware of their potential state estate tax liabilities, some accountants here say. Washington has

Horizon Credit Union's focus on footprint

Credit union's total assets approaching $600 million

June 19, 2014

Judith Spitzer

Spokane Valley-based Horizon Credit Union has substantially expanded its charter since it was established 67 years ago and has absorbed a couple of other credit unions in recent years, contributing to solid membership, loan, and asset growth. Founded as

CPA firm merges with big Midwest practice

McDirmid, Mikkelsen slated to become part of Eide Bailly

May 22, 2014

Mike McLean

Longtime Spokane accounting practice McDirmid, Mikkelsen & Secrest PS says it will merge next month with big Midwest-based firm Eide Bailly LLC. McDirmid, Mikkelsen & Secrest, will take on the name of the larger firm. Andrew McDirmid, a partner here, s

Northwest Farm Credit Services reports rise in earnings, total capital

Favorable market lifted its performance, co-op says

May 8, 2014

Katie Ross

Spokane-based agricultural cooperative Northwest Farm Credit Services says it had first-quarter earnings of $54.2 million, up 13 percent from $48 million in the first quarter of 2013, and its total capital increased 2.3 percent, to $1.8 billion as of Marc

Horizon Credit Union to merge with Montana institution

Combined entities to have $700 million in total assets

May 8, 2014

Katie Ross

The boards of Spokane Valley-based Horizon Credit Union and Butte, Mont.-based EDTECH Federal Credit Union have voted unanimously to merge. Jeff Adams, CEO of Horizon, says that the votes came through last month, and the merger documents will be filed l

Umpqua Bank reports drop in net income

Bank cites one-time costs for its Sterling acquisition

May 8, 2014

Mike McLean

Portland-based Umpqua Holdings Corp., the parent company of Umpqua Bank, reported net income of $18.8 million, or 17 cents a diluted share, for the first quarter ended March 31, down from $23.4 million, or 21 cents a diluted share, in the year-earlier qua