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Banking & Finance

Promotion reflects love of community banking for State Bank Northwest exec

Bruggink named president of State Bank Northwest
January 28, 2021
Kevin Blocker
The banking field hasn't lost its luster for Lorilei Bruggink, who has worked in the industry for 35 years and was named president of Spokane Valley-based State Bank Northwest earlier this month.
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VIRGINIA THOMAS

Spokane-area lenders undertake second round of PPP funding

Bankers say program offers long-term benefits for financial industry
January 28, 2021
Virginia Thomas
The U.S. Small Business Administration has released a third round of Paycheck Protection Program loan funds, and bankers here say they're prepared to handle changes made as a result of updates to the program.
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Virginia Thomas

Q&A with Numerica Credit Union's Carla Cicero

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January 28, 2021
Virginia Thomas
Carla Cicero was born and raised in Los Angeles, where her credit union career began in her teenage years. In 2011, she came to Spokane from a Wisconsin credit union to become president and CEO at Spokane Valley-based Numerica Credit Union.
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Journal File Photo

The closing chapter on the Metropolitan Mortgage saga

Metropolitan bankruptcy saga likely has concluded
January 28, 2021
Kim Crompton
U.S. Bankruptcy Court trusts have issued what might be the final payments to investors who lost hundreds of millions of dollars when Spokane-based Metropolitan Mortgage & Securities Co. and affiliate Summit Securities Inc. shut down nearly two decades ago
Read More

Eastern Washington bankruptcy filings decrease despite hard times

Some attorneys here say trend may reverse in '21
January 28, 2021
Kevin Blocker
Despite the economic havoc COVID-19 brought on wide swaths of the economy last year, the pandemic's presence didn't halt the downward trend of bankruptcy filings in Eastern Washington.
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Denver firm buys Spokane-based company Hart Capital

Mercer Advisors has $27B in managed assets
January 21, 2021
Kevin Blocker
Mercer Global Advisors Inc., of Denver, announced Thursday morning it has acquired Hart Capital, which was founded by Hart in 1998. He and the company's team of nine advisers will join Mercer Advisors.
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Spokane accounting firm splits into two units

Assure CPA focuses on public company auditing
January 14, 2021
Virginia Thomas
Spokane accounting firm DeCoria, Maichel & Teague PS is splitting into two entities but will remain under the same roof. Jeff Maichel, who founded the firm in 1997, says it will be divided into Assure CPA LLC, which he'll
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Virginia Thomas

Parting Thoughts with RiverBank's Dan Byrne

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January 14, 2021
Virginia Thomas
Dan Byrne is thoroughly a Spokane man. Born and raised in northwest Spokane, with a degree in accounting from Gonzaga University. Byrne started his career in the accounting world, at the now-defunct national firm Coopers & Lybrand LLP.
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Meteoric rise in unemployment tax hits businesses

If state legislation doesn't provide relief, some worry hikes will doom employers
January 14, 2021
Virginia Thomas
Barring relief, some employers fear recently-implemented unemployment tax increases could be the final straw that puts them out of business permanently.
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Low interest rates, high deposits to steer finance sector

Despite spike in loans, earnings could slump
December 17, 2020
Virginia Thomas
Experts here say that while financial institutions have seen increases in loans and deposits in 2020, they could feel the squeeze of low interest rates in 2021. In March, the U.S. Federal Reserve lowered the federal fund rate-the benchmark interest
Read More
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