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Banking & Finance

Idaho bank, credit union expand into Spokane

Bank of Idaho, ICCU establish presences here as part of growth plans
June 16, 2022
Virginia Thomas
Two southeastern Idaho-based financial institutions have moved into the Spokane area in quick succession. Last month, Idaho Falls-based Bank of Idaho agreed to acquire five branches from Seattle-based HomeStreet Bank, including one branch in downtown
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—Erica Bullock

A trend of interest: Businesses, lender confront rising rates for first time in years

Persistent inflation creates worry for business borrowers
June 16, 2022
Erica Bullock
Federal interest rates are expected to rise continually, and inflation pressure could ease slightly, resulting in more expensive loans for borrowers who have less money to spend because of the current high costs of goods and services. The Federal Open
Read More
—Erica Bullock

Building blocked: Construction costs hinder financing

Lenders seek solutions as contractors scale down some projects
June 16, 2022
Erica Bullock
Some lenders here say they're working around challenges to finance commercial construction developments and keep projects moving forward despite soaring prices of construction materials and rising labor costs, which have resulted in some project
Read More

HMA CPA to move to larger space in downtown Spokane

HMA has outgrown two smaller offices downtown
June 2, 2022
Virginia Thomas
Spokane accounting firm HMA CPA PS plans to move elsewhere downtown later this year. HMA shareholder Kevin Sell says the company has signed a 10-year lease on the 10,000-square-foot 10th floor of the 18-story building at 601 W. First, and plans to move
Read More

Meet & Greet with Idaho Central Credit Union's Manny Hochheimer

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June 2, 2022
Karina Elias
Manny Hochheimer has stepped into a new role as the assistant vice president of Washington branches at Idaho Central Credit Union after a decade with Numerica Credit Union and over 20 years in the financial services industry. In his new position, Hochhei
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Charitable giving strategies can soften tax bite

Donor-advised funds, charitable lead trusts may reduce liabilities
May 19, 2022
Michael Maehl
Anyone looking to sell appreciated stock is unfortunately going to trigger a tax on capital gains, whether long or short term. The current legislative and political climate has produced rumblings of a potential doubling of the long-term capital gains tax.
Read More

Ben Small to lead Innovia's LaunchNW initiative

LaunchNW aims to help students attain college, career training of choice
May 19, 2022
Karina Elias
Ben Small, longtime superintendent at Central Valley School District, will join the Innovia Foundation as executive director of a new program, LaunchNW, when he retires from CVSD at the end of the school year.
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—Virginia Thomas

Women Helping Women adopts collective giving

Pandemic prompted shift to year-round fundraising
May 19, 2022
Virginia Thomas
Women Helping Women Fund has transformed its model to a collective-giving community, a model the organization says gives more power to its donor members.
Read More
—NAC Architecture

INW nonprofits capitalize on a trend

Capital campaign managers hope to build on momentum emerging from pandemic
May 19, 2022
Erica Bullock
Businesses, organizations, and individuals didn't stop giving to local nonprofits in support of capital campaigns throughout the pandemic, as evidenced by at least four nonprofits who are in the midst of construction or have recently completed
Read More

Washington Trust Bank parent to repurchase $10 million in shares

Bank holding company shares trade at $370-$399
May 5, 2022
Karina Elias
Spokane-based WTB Financial Corp., the holding company for Washington Trust Bank, has launched a $10 million share repurchase program. The bank's board of directors authorized the share repurchase program March 1, and it will be in effect over
Read More
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