Banking & Finance

Riding the cycles: Monitor rates, stay diversified

Long-term results moot if you falter in short term

April 13, 2017

Currently, we're trading near the all-time highs of the U.S. stock market, while the bond market continues near its all-time lows. This cyclicality aspect of the markets is leading many to conclude that the time may be coming near for them to trade plac

Wheatland Bank expands its mortgage division

30 percent increase in total staff anticipated this year

April 13, 2017

Mike McLean

Spokane-based Wheatland Bank has expanded its mortgage division downtown. The home loan division, led by Troy Sims, senior vice president and director of residential lending services, has a team of 15, including six residential lenders and support staff,

Cheney credit union develops West Plains branch

Membership has expanded 17 percent since early 2013

April 13, 2017

Mike McLean

Cheney Federal Credit Union has started construction on its second branch, which will be located at the south corner of Westbow Boulevard and Aero Road, near the Interstate 90-Medical Lake interchange, says JoAn Sanders, CEO of the credit union. The 2,70

Washington Trust Bank parent posts strong growth in net income

Company sees increases in assets, loans, deposits

March 30, 2017

LeAnn Bjerken

WTB Financial Corp., the Spokane-based parent of Washington Trust Bank, has reported significant full-year growth, with increases in net income, loans, deposits, and assets, for 2016. The company reported net income of $52 million for last year, up from

ICM Asset Management partners go separate directions as rumors swirl

Ex-employees have formed new financial advisory firm

March 30, 2017

A split between two former partners at a longtime, Spokane-based investment firm has led to the creation of a new firm here, with the previous company continuing to maintain $145 million in client investments under management. Jim Simmons, CEO of 35-year

Financial discipline serves Union Gospel Mission

Nonprofit stays debt free, owns facilities, director says

March 16, 2017

Chris Street

In Spokane, the homeless population is served by several charities, including Union Gospel Mission, started in 1951. How does a 66-year-old charity survive? The answer lies in multiple revenue streams, a tightly managed foundation, a strong marketing ef

Fulcrum Financial Group driven by clients' goals

Carlson says more women needed as financial planners

March 16, 2017

Sarah Carlson, a certified financial planner based in Spokane, says she's highly motivated to provide long-term financial security, along with outstanding customer service, to her clients as the owner and operator of Fulcrum Financial Group. 'Our cli

Spokane CPA firm merges into Eide Bailly

Langenhorst & Self-Merritt was founded here in 1997

March 16, 2017

LeAnn Bjerken

Langenhorst & Self-Merritt, CPAs, PS, has merged its operations into the Spokane office of Fargo, N.D.-based Eide Bailly LLP, a regional certified public accounting and business advisory firm. Founding partner Hubert Langenhorst says following the merger

Northwest Farm Credit's earnings drop

Co-op says some markets affected by oversupply

March 2, 2017

LeAnn Bjerken

Northwest Farm Credit Services has reported 2016 earnings of $247.2 million, a decrease of $8.4 million, or 3 percent, compared with $255.6 million in 2015. The Spokane-based agricultural lending cooperative says higher earnings in 2015 were a result of

Home equity loan demand expected to rise here

HELOC volumes surpass peaks during recession era

March 2, 2017

Spokane-area lenders say they've recently been approving more applications for home equity lines of credit, commonly referred to as HELOC loans, reminiscent of around the time of the Great Recession. 'We're seeing home equity lines of credit reach