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Banking & Finance

Low rates drive surge in mortgage, refinance activity in Spokane

INW banks, credit unions report higher volumes of activity this year
August 13, 2020
Kevin Blocker
Veteran Spokane bankers report strong mortgage growth largely in part due to existing homeowners refinancing in order to take advantage of record-low interest rates.
Read More

Spokane homeowners leave money in bank for now

Observers say far more people tapped equity in Great Recession
August 13, 2020
Natasha Nellis
Despite layoffs and wage reductions, industry observers say homeowners are avoiding using the equity in their homes during this challenging financial time. The mortgage data company Black Knight Inc. says Americans had $6.2 trillion in
Read More

A. The Journal's View: Collaboration encouraging in affordable housing issue

~
July 30, 2020
Staff Report
It's encouraging that landlord and tenant representatives here are working together during the coronavirus crisis by seeking rental assistance to keep tenants in their homes during this time of widespread loss of employment and income.
Read More

Life insurance policy can be 'the last love letter”

Sufficient coverage can provide security for those left behind
July 30, 2020
Donald Morgan
Jim Lusk remembers going to the wake of one of his clients who had died after being hit by a truck. The client's widow pulled him aside and asked if she and her kids were going to be financially OK. 'I told her, 'We're going to pay off your
Read More

Public companies rebound with market

Composite value higher than year-earlier quarter
July 30, 2020
Virginia Thomas
The seven publicly traded companies in the Spokane area rebounded from earlier volatility in the second quarter, according to an analysis by Spokane-based Hart Capital Management Inc. The overall composite value of the seven companies increased
Read More
Gen Heywood

Refugee Connection Spokane pivots services

Nonprofit receives $800K in grants to be disbursed during next five years
July 30, 2020
Natasha Nellis
Refugee Connections Spokane's flexible setup left it well-positioned to pivot its services when the COVID-19 outbreak spread here, says Marijke Fakasiieiki, the nonprofit's executive director. Over the past year, the organization, which was created
Read More
Kevin Blocker

Salvation Army Spokane sees food requests soar

Pandemic said to drive demand for services
July 30, 2020
Kevin Blocker
The Salvation Army Spokane distributed nearly 4 million pounds of food to individuals and families in need last year. As a result of temporary furloughs and permanent layoffs due to economic lockdown imposed in the state's response to the COVID-19
Read More
Natasha Nellis

Some employers here make 401(k) adjustments

Study shows rising risk to post-work income due to virus outbreak
July 30, 2020
Natasha Nellis
Americans already were struggling to save for retirement, and the pandemic has only made the situation worse, reports show. Local industry observers say, however, some Spokane employers largely have stayed on track with retirement plans, while others
Read More
Women Helping Women Fund

Socially distanced, socially conscious

Some nonprofits switch to longer fundraising cycles, spend less on overhead
July 30, 2020
Virginia Thomas
Instead of canceling fundraising events, many Inland Northwest nonprofits have moved them into the digital realm. Donor participation in charity events is lower, but some nonprofits say they're receiving nearly as many donations as in prior years from
Read More

Inland Northwest executive pay inches upward

Modest increase follows fluctuations in previous two years
July 30, 2020
Linn Parish
Pre-pandemic executive pay increased by just 1% for executives at Inland Northwest-based publicly traded companies in 2019, according to a Journal of Business analysis.
Read More
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