Banking & Finance

Horizon, Amicus credit unions plan to merge operations

Credit unions likely to seek member approval this spring

January 28, 2016

Spokane-based Horizon Credit Union plans to merge into its operations the smaller Amicus Federal Credit Union, also of Spokane. Boards for the two credit unions approved the merger earlier this month, with both voting unanimously in favor of combining. T

Tax 'extenders' made permanent

Accountants say PATH Act will make planning ahead easier for many

January 28, 2016

Mike McLean

Some tax preparers here say a few tax breaks that Congress recently made permanent will enable them to have a greater degree of certainty in helping clients with tax planning. Provisions made permanent in the Protecting Americans from Tax Hikes Act of 20

Washington Federal's future foothold

Seattle-based bank now boasts 15 Inland Northwest branches

January 28, 2016

Washington Federal Inc., the Seattle-based parent of Washington Federal bank that now has a permanent Eastern Washington headquarters on Spokane's North Side, has ambitious aspirations to grow its Inland Northwest presence in the years to come. Doug Sm

CPA firm rebrands, adds new partner

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January 28, 2016

Staff Report

The accounting firm that formerly operated here for many years as Heiskell MacGillivray & Associates PS has a new name, new logo, and new shareholder. The firm recently changed its name to HMA CPA PS, redesigned its logo, and launched a new website to re

Inland Northwest bankruptcy filings decline for fifth straight year

Several factors could cause trend reversal

January 14, 2016

LeAnn Bjerken

Bankruptcy filings in Eastern Washington and North Idaho have declined for the fifth straight year.

Foreclosure actions dip, approach prerecession norms

Trend tied to job growth, health of housing market

January 14, 2016

Mike McLean

Foreclosure actions completed in Spokane County in 2015 dropped by 27 percent compared with the number of foreclosures in 2014, finally falling out of the historically high range, says Phil Kuharski, a longtime Spokane economic data analyst.

Spokane-area banks, credit unions foresee dampening effect

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December 17, 2015

Kim Crompton

Bank and credit union executives here say they anticipate healthy growth in loans and deposits in the coming year, although perhaps slightly softer gains than they've seen this year as historically low interest rates that have lingered for years since t

Federal budget quietly cuts Social Security provision

File-and-suspend strategy to be eliminated in phases

December 3, 2015

Mike McLean

The new federal budget contains a cut to Social Security benefits that could limit options for baby boomers close to retirement-and everybody who follows them. Hidden in the budget bill is a change to Social Security that eliminates file-and-suspend ru

Star Financial's widening range

Firm's revenue grew 200 percent from last year, owner says

December 3, 2015

LeAnn Bjerken

Melissa Williams, owner of Star Financial & Insurance Services Inc., says getting people to talk about money is a difficult and often emotional process. 'Finances are very personal and stir up all kinds of emotions,â€ says Williams. 'That's why

Former Northwestern Mutual adviser pleads guilty to wire fraud

John Charles Hanson said to have taken millions

November 5, 2015

A former Spokane-based financial adviser with Northwestern Mutual Investment Services pleaded guilty last month to operating a Ponzi scheme and stealing nearly $2.5 million from his clients. John Charles Hanson pleaded guilty to wire fraud before a U.S.