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Banking & Finance

—Katie Ross

Second Harvest expands facilities to fill big food need

Second Harvest expects Tri-Cities project to boost its capabilities
March 13, 2014
Katie Ross
Second Harvest Food Bank of the Inland Northwest is moving forward with several large projects this year, including a $2.5 million, 26,000-square-foot second-phase expansion of its Pasco, Wash., warehouse facility, says President and CEO Jason Luke Clark.
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—Katie Ross

AmericanWest Bank grows loans, eyes more acquisitions

Bank extended $1 billion in credit in last two years
February 27, 2014
Katie Ross
Spokane-based financial institution AmericanWest Bank has experienced an organic loan growth rate of about 10 percent a year for the last two years, which is double the industry standard, claims CEO Scott Kisting. The bank also has extended a total of
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—Linn Parish

Secured Investment Corp. to franchise Cogo Capital

Having tested concept here, company to expand
February 27, 2014
Linn Parish
Secured Investment Corp., the Coeur d'Alene-based private-money lender, plans to start franchising its young retail subsidiary, Cogo Capital LLC, in an effort to increase its loan volume more quickly. Not quite 1 1/2 years old, Cogo Capital has corp
Read More

Northwest Farm Credit Services posts jump in earnings

$58.1 million in refunds sent to shareholders
February 27, 2014
Treva Lind
Northwest Farm Credit Services, the Spokane-based agricultural lending cooperative, has reported net income of $237 million for 2013, an increase of 26 percent compared with income of $187.3 million the previous year. Meanwhile, the cooperative says itï
Read More

Banner's net declines for quarter, all of 2013

Bank reports increases in total assets, deposits
February 27, 2014
Lucas Thayer
Banner Corp., the Walla Walla, Wash.-based parent of Banner Bank and Islanders Bank, has reported fourth-quarter net income of $11.6 million, or 60 cents a diluted share, a decrease from $13.3 million, or 69 cents a share, in the year-earlier quarter.
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—Treva Lind

Lenders play by new ability-to-repay rules

Criteria meant to verify borrowers won't get in over their heads
February 27, 2014
Treva Lind
Spokane-area banks and credit unions are adjusting to new federal residential mortgage lending standards that require federally insured lenders to take additional steps when collecting a borrower's financial information and calculating ability to repay
Read More

SBA lenders predict volume rebound in 2014

Fee waivers aim to boost demand for smaller loans
February 27, 2014
Mike McLean
Some lending institutions that are among the leaders here in originating U.S. Small Business Administration-backed loans are anticipating renewed interest from borrowers this year, following a dip in total loan volume in the SBA's Spokane district in 20
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—Katie Ross

URM Stores investigation ending; ripple effects continue

Credit unions increase fraud monitoring in wake of attack
February 13, 2014
Katie Ross
Spokane wholesaler URM Stores Inc. announced recently that it's nearing the end of its investigation into the cyber-attacks last fall that compromised an unknown number of debit and credit cards, but some aftereffects of that breach still are being felt
Read More

Sterling Financial reports earnings increase

-
January 30, 2014
Staff Report
Sterling Financial Corp., the Spokane-based holding company for Sterling Bank, reported this afternoon fourth-quarter net income of $22.2 million, or 35 cents a diluted share, up from $20.9 million, or 33 cents a share, in the year-earlier period. For
Read More

Moss Adams launches online tax-credit exchange

Firm says traders should make transaction faster
January 30, 2014
Staff Report
Moss Adams LLP, the big Seattle-based accounting and business consulting firm that also operates the largest accounting firm operation here, has launched the Moss Adams Tax Credit Exchange, an online marketplace for buying and selling tax credits. The e
Read More
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