Banking & Finance

Gifting can help with estate taxes

Washington's rate affects more residents than feds' rules

June 19, 2014

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

Playing catch-up: retirement planning dilemmas for women

Longer life expectancy, less pay contribute to female retirement anxiety

April 24, 2014

Judith Spitzer

Kathleen Cavender, 61, a part-time jazz singer and full-time artist in Spokane, had been married to her husband Mike for nearly 30 years when he was diagnosed with idiopathic pulmonary fibrosis, an autoimmune disease that turns the lungs to scar tissue.

STCU enhances its mortgage rate-lock policy

Homebuyers can secure rate before picking house

April 24, 2014

Katie Ross

Spokane Teachers Credit Union, the Spokane area's largest credit union, has modified its home mortgage interest rate lock policy for conventional loans to make it more borrower-friendly, says Jeff Mularksi, STCU's real estate manager for origination a

Ignore all of the uproar over high-frequency trading

Individual investors benefit from tech-boosted system

April 24, 2014

Michael Maehl

By the time this piece is published, it shall have been about a month since Michael Lewis went on 60 Minutes to flog his latest Wall Street-oriented book. This one is called 'Flash Boys.â€ The boys, in this case, are those who oversee and administer th

Inland Northwest Bank parent posts ninth straight profitable quarter

Bank's net loans increased $41.3 million year over year

April 24, 2014

Katie Ross

Northwest Bancorporation Inc., the Spokane-based parent company of Inland Northwest Bank, has reported first-quarter net income of $588,000, up from $436,000 in the year-earlier period. The company reported earnings per diluted share of 14 cents for th