Banking & Finance

Young Ten Capital Investment Advisors grows

Separately, firm, INB develop strategic partnership

November 6, 2014

Ten Capital Investment Advisors LLC, a young independent financial advisory company co-founded by a longtime veteran of the industry, has grown substantially this year in terms of assets under management.

Waiting for Apple Pay Day

Spokane credit unions to be among first 500 institutions to use platform

November 6, 2014

Judith Spitzer

Two credit unions here, Numerica Credit Union and Spokane Teachers Credit Union, will be among the first wave of financial institutions to partner with technology giant Apple Inc. and offer Apple Pay, a new payment platform launched Oct. 20.

Banner Bank, AmericanWest Bank to merge

Transaction valued at $702 million

November 5, 2014

Staff Report

Banner Corp., the publicly-traded, Walla Walla-based holding company for Banner Bank and Islanders Bank, announced this afternoon that it has agreed to merge into its operations privately-held, Spokane-based AmericanWest Bank in a $702 million transaction

NWBDA appoints new leader as Acevedo steps back

Debbie Shipman named president of SBA lender

October 23, 2014

Mike McLean

Debbie Shipman has been named president of the Northwest Business Development Association, and longtime president Gil Acevedo plans to stay on with the nonprofit to help with the transition until May, when he plans to retire. Shipman says her goal for th

Umpqua Bank gives $420,000 to two organizations here

Grants benefit programs aimed at youth, education

October 23, 2014

Mike McLean

In an initial round of grants to Spokane-area nonprofits, the Umpqua Bank Charitable Foundation has awarded a total of $420,000 to Second Harvest Food Bank of the Inland Northwest and Excelerate Success, says Eve Callahan, an Umpqua spokeswoman.

Tax planners expecting final tweaks after election

Some final rules for 2014 might be written next year

October 23, 2014

Mike McLean

Some tax preparers here say they're expecting a compressed tax season as Congress likely won't consider renewing expired tax breaks until after the Nov. 4 midterm election.

INB parent posts increase in earnings

Bank's total assets hit record level

October 16, 2014

Staff Report

Northwest Bancorporation Inc., the Spokane-based parent of Inland Northwest Bank, reported today third-quarter net income available to common shareholders of $976,000, or 23 cents a diluted share, up from income of $708,000, or 22 cents a share, in the ye

AmericanWest Bank to acquire Bank of Sacramento

Transaction to give Spokane bank nine branches in California capital

October 15, 2014

Staff Report

AmericanWest Bank announced this morning that it plans to acquire Bank of Sacramento. The acquisition will give AmericanWest a total of nine branches in the Sacramento area and nearly 100 throughout Washington, Idaho, Oregon, California, and Utah. Bank

Spokane medical-benefits broker to add new division

VEBA planning to hire six employees initially

September 25, 2014

Katie Ross

Spokane medical benefit broker VEBA Service Group is planning to open a call center division here on Jan. 1, says Mark Wilkerson, area president for VEBA. The company, located in 8,400 square feet of space at 906 W. Second downtown, will be hiring six c

Long-term care insurance market faces challenges

Alternative options include hybrid and partial policies

September 25, 2014

Katie Ross

As the number of elderly Americans continues to rise, the cost of long-term care insurance has become a concern, with many here unable to afford the coverage and some choosing to buy hybrid or partial policies, some industry experts here say. Paul Vire