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Banking & Finance

—Kim Crompton

RiverBank is back to 'playing offense'

Institution profitable again, expects FDIC to terminate consent order soon
January 30, 2014
Kim Crompton
RiverBank, an eight-year-old bank here that has sought to differentiate itself in the competitive local financial market by offering concierge services to mostly small-business and commercial clients here, says it returned to profitability last year and i
Read More
—Mike McLean

Inland Northwest lenders undergo repo reduction

'Dramatic improvement' said tied to optimism in economy
January 30, 2014
Mike McLean
Financial institutions have reduced greatly the amount of repossessed real estate on their books following the Great Recession. Scott Southwick, chief credit officer for Spokane-based Inland Northwest Bank, says nonperforming assets, which include reposs
Read More

INB parent posts 'most profitable quarter'

-
January 29, 2014
Staff Report
Northwest Bancorporation Inc., the Spokane-based parent of Inland Northwest Bank, reported today fourth-quarter net income of $406,000, or 12 cents a share, up from $182,000, or 6 cents a share, in the year-earlier period. This marked the company's
Read More
Gonzaga University

Gonzaga gets interest break with tax-exempt bonds

$53 million mostly will go to university center project
January 16, 2014
Mike McLean
The Washington State Higher Education Facilities Authority last month issued revenue bonds that will help finance a new university center that's under construction at Gonzaga University, executives at the Jesuit school here say. Chuck Murphy, Gonzagaï¿
Read More

Foreclosures climbed in Spokane County last year

County tallies record defaults despite gains in home sales
January 16, 2014
Mike McLean
Foreclosure actions completed in Spokane County swelled to a record level in 2013 following a four-year low in 2012, despite other indicators of improving real estate market trends. Last year, the Spokane County Auditor's Office recorded 1,211 foreclos
Read More

Bankruptcies in Eastern Washington, North Idaho fall for third straight year

Spokane, Cd'A attorneys expect trend to continue
January 16, 2014
Katie Ross
Bankruptcy filings fell again in Eastern Washington and North Idaho last year, marking the third year in a row that they've declined. The U.S. Bankruptcy Court's Eastern District of Washington reported 5,057 cases filed in 2013, down 7 percent from
Read More

Spokane-area retailers here feeling good about sales growth in 2014

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December 19, 2013
Katie Ross
Spokane-area retailers say they are planning for strong sales next year. Bryn West, general manager for River Park Square, says the downtown shopping center expects to see an overall 3 percent increase in sales in 2014, which is on par with the predicti
Read More

Technology sector climbs back slowly in the Inland Northwest

-
December 19, 2013
Linn Parish
Going into the new year, technology industry observers here say, positive trends in the sector statewide bode well for companies in the Inland Northwest, which they describe on the whole as coming back slowly. Tom Simpson, president of the Spokane Angel
Read More
—Staff photo by Kim Crompton

Regional tourism industry expects strong business next year

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December 19, 2013
Katie Ross
Spokane tourism officials are optimistic that visitor numbers and expenditures will increase in 2014, including among those here for conventions, sports events, and leisure travel. Cheryl Kilday, president and CEO of Visit Spokane, says that organizatio
Read More
—Staff photo by Mike McLean

Health care, manufacturing lead North Idaho rebound

-
December 19, 2013
Mike McLean
Health care, manufacturing, tourism, and real estate are among current growth industries in Kootenai County that are expected to continue to improve in the new year, sources in North Idaho say. Alivia Metts, Post Falls-based regional labor economist for
Read More
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