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Banking & Finance

—Kevin Blocker

Whitworth finance team off to national competition

Student team advances for second straight year
April 7, 2016
Whitworth University's four-student Chartered Financial Analyst (CFA) team heads to Chicago next week to compete in an international competition against teams from more than 100 colleges and universities from around the world. The four-day event starts
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—Treva Lind

Wheatland Bank cultivates growth

Company expands offices after buying downtown Spokane building
April 7, 2016
Treva Lind
Spokane-based Wheatland Bank continues to hold a position of strong liquidity after record 2015 year-end earnings, fueled by its highest percentage loan growth in 36 years, and its CEO expects ongoing gains this year. Meanwhile, Wheatland will expand off
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—Mike McLean

Panhandle EXPANSION

Credit union plans to construct new Post Falls, Hayden branches
April 7, 2016
Mike McLean
Southern Idaho-based Idaho Central Credit Union has just one modest branch in North Idaho, but the credit union has big growth plans there, just as it's enjoying consistent strong performance across the financial cooperative, says Coeur d'Alene branch
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—Kevin Blocker

A word to the young: Save lots, spend a whole lot less

Bad money habits span generations, advisers say
March 10, 2016
Spokane-area financial advisers say they have become more assertive in their efforts to help young workers build savings while planning for retirement. 'What's the biggest challenge for young people saving for retirement? In a word, life,” says Pau
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—Kevin Blocker

Northwestern Mutual-Inland Northwest to grow

Company's new managing partner says demand for financial help is high
March 10, 2016
In an effort to meet rising customer demands for its products and services here, Northwestern Mutual-Inland Northwest expects to add 30 new advisers and 30 interns this year across its nine regional offices, managing partner Paul Hanson says. 'Consumer
Read More

Northwest Farm Credit's earnings rise

Co-op members receive $92 million in patronage
March 10, 2016
LeAnn Bjerken
Northwest Farm Credit Services has reported 2015 earnings of $255.6 million, an increase of $27.5 million, or 12 percent, compared with $228.1 million in 2014. The Spokane-based agricultural lending cooperative says its higher net income was due mostly
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—LeAnn Bjerken

SNAP Financial Access expects loan volume to hit $700K this year

Total volume increased, defaults declined in '15
February 25, 2016
LeAnn Bjerken
SNAP Financial Access, a community development financial institution here, saw a 26 percent increase in loan volume last year and hopes to continue its goal of providing small business development resources through new programs and partnerships, a program
Read More

SBA small-business loan incentives help more borrowers

Programs boost cash flow for business starts, growth
February 25, 2016
Mike McLean
U.S. Small Business Administration loan incentives are helping a growing number of businesses start up or expand, some lenders here say. In 2015, lenders in the Spokane branch of SBA's Seattle district issued 522 SBA-backed loans totaling $183 million,
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—Kevin Blocker

For Spokane-area credit unions, auto loans are a growth drive

Lenders say activity here mimicked national trend
February 25, 2016
Spokane-area credit unions say they experienced an uptick in overall loan originations from 2014 to 2015, sparked in part by robust demand for auto loans. The demand for autos here mimicked what was a national trend in 2015. Experian Automotive, operat
Read More
—LeAnn Bjerken

Lack of banking options exposes marijuana industry

Security concerns revolve around managing bulk cash
February 11, 2016
LeAnn Bjerken
The number of identity fraud victims in the U.S. increased by 3 percent, to 13.1 million consumers, last year, but the amount stolen decreased by 6 percent, to $15 billion, says a study released earlier this month by San Francisco-based Javelin Strategy
Read More
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