Spokane Journal of Business

FirstBank plans loan office here

Commercial-loan center will be second location in Spokane area for bank

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FirstBank Northwest Corp., a Lewiston-based bank that opened a branch office in Liberty Lake in 1999, plans to open a commercial-loan center near downtown Spokane this summer.

FirstBank plans to open the center at the beginning of August, and will employ five or six people there, says Michael Palmer, a FirstBank vice president who will manage commercial-loan production in the Spokane market. Palmer currently works in FirstBank Northwests branch in Liberty Lake.

The Spokane loan center is to be located in about 3,000 square feet of leased space at 111 W. North River Drive, in the same building that houses Pier 1 Imports Inc., just north of downtown, he says.

The company plans eventually to open more full-service branches in the Spokane area, but is taking the approach to build our commercial base first by opening the loan center, Palmer says. Its Liberty Lake branch office is located at 22408 E. Appleway.

He says the bank could open up to three branches here in the next couple of years.

FirstBank was founded in Lewiston in 1920, and currently has eight full-service branches, three commercial-loan centers, and two residential-loan centers in North Idaho and Eastern Washington. In March, the company expanded into Southern Idaho by opening a residential-loan center there.

FirstBank reported net income of $2.4 million for its fiscal year ended March 31. As of that date, the bank had assets of $308 million and deposits of $196 million.

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