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Banking & Finance

Spokane's economy is on consistent growth track

Jobs continue to increase; wage growth is a concern
June 19, 2014
Steve Scranton
Spokane has seen 2014 start with a more consistent pattern of economic growth than the nation as a whole. Unlike much of the Midwest and East Coast, Spokane didn't suffer through the severe winter weather that hampered economic activity. The picture t
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—Mike McLean

Gifting can help with estate taxes

Washington's rate affects more residents than feds' rules
June 19, 2014
Mike McLean
With historically high exemptions, fewer people are paying federal estate and gift taxes now than decades ago, but more Washington state residents should be aware of their potential state estate tax liabilities, some accountants here say. Washington has
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—Judith Spitzer

Horizon Credit Union's focus on footprint

Credit union's total assets approaching $600 million
June 19, 2014
Judith Spitzer
Spokane Valley-based Horizon Credit Union has substantially expanded its charter since it was established 67 years ago and has absorbed a couple of other credit unions in recent years, contributing to solid membership, loan, and asset growth. Founded as
Read More
—Mike McLean

CPA firm merges with big Midwest practice

McDirmid, Mikkelsen slated to become part of Eide Bailly
May 22, 2014
Mike McLean
Longtime Spokane accounting practice McDirmid, Mikkelsen & Secrest PS says it will merge next month with big Midwest-based firm Eide Bailly LLC. McDirmid, Mikkelsen & Secrest, will take on the name of the larger firm. Andrew McDirmid, a partner here, s
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Northwest Farm Credit Services reports rise in earnings, total capital

Favorable market lifted its performance, co-op says
May 8, 2014
Katie Ross
Spokane-based agricultural cooperative Northwest Farm Credit Services says it had first-quarter earnings of $54.2 million, up 13 percent from $48 million in the first quarter of 2013, and its total capital increased 2.3 percent, to $1.8 billion as of Marc
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Horizon Credit Union to merge with Montana institution

Combined entities to have $700 million in total assets
May 8, 2014
Katie Ross
The boards of Spokane Valley-based Horizon Credit Union and Butte, Mont.-based EDTECH Federal Credit Union have voted unanimously to merge. Jeff Adams, CEO of Horizon, says that the votes came through last month, and the merger documents will be filed l
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Umpqua Bank reports drop in net income

Bank cites one-time costs for its Sterling acquisition
May 8, 2014
Mike McLean
Portland-based Umpqua Holdings Corp., the parent company of Umpqua Bank, reported net income of $18.8 million, or 17 cents a diluted share, for the first quarter ended March 31, down from $23.4 million, or 21 cents a diluted share, in the year-earlier qua
Read More
—Judith Spitzer

Playing catch-up: retirement planning dilemmas for women

Longer life expectancy, less pay contribute to female retirement anxiety
April 24, 2014
Judith Spitzer
Kathleen Cavender, 61, a part-time jazz singer and full-time artist in Spokane, had been married to her husband Mike for nearly 30 years when he was diagnosed with idiopathic pulmonary fibrosis, an autoimmune disease that turns the lungs to scar tissue.
Read More
—Katie Ross

STCU enhances its mortgage rate-lock policy

Homebuyers can secure rate before picking house
April 24, 2014
Katie Ross
Spokane Teachers Credit Union, the Spokane area's largest credit union, has modified its home mortgage interest rate lock policy for conventional loans to make it more borrower-friendly, says Jeff Mularksi, STCU's real estate manager for origination a
Read More

Ignore all of the uproar over high-frequency trading

Individual investors benefit from tech-boosted system
April 24, 2014
Michael Maehl
By the time this piece is published, it shall have been about a month since Michael Lewis went on 60 Minutes to flog his latest Wall Street-oriented book. This one is called 'Flash Boys.” The boys, in this case, are those who oversee and administer th
Read More
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