Idaho banking industry earnings up 54 percent this year
The 13 banks based in Idaho earned $40 million in the first six months of 2018, according to data released by the FDIC Thursday.
Net income for the period was up 54 percent over the same time in 2017. Loans grew by 11.3 percent to $4.29 billion, and deposits increased by 6.9 percent to $5.36 billion during the first half of the year.
Net interest margin also improved to 4.37 percent, which is above the national average.
For the quarter, the state’s banks earned $21 million, an increase of 58 percent over the second quarter 2017.
“The performance numbers validate what we’re hearing from members that the economic conditions in general remain strong around the state, and that, in turn, leads to improved industrywide bank results,” said Trent Wright, Idaho Bankers Association president and CEO.
Family and business finances remain relatively stable as well, with the amount of noncurrent loans and loans charged off declining. Nine of 10 loans are being paid on time. Nationally, increased operating revenues and a lower effective tax rate helped industrywide earnings increase 25.1 percent for the quarter.
Stifel announces new financial advisor-broker
Stifel Investments in Coeur d’Alene added a new financial advisor-broker this week. Michael Armon Jr., recently completed the financial advisor training program with Stifel, and visited the company’s home office in St. Louis.
ASI earns Accredited Association Management Company credential
Association Services, Inc. (ASI) recently earned the Accredited Association Management Company credential from Community Associations Institute (CAI). Association Services, Inc. is one of fewer than 250 management companies worldwide, and the only company in Idaho, to earn the highest level of professional recognition in the community association management field.
Association Services, Inc. is celebrating 12 years in business.
“We are proud to be serving over 75 community associations in Kootenai County. My staff of 15 have dedicated themselves to continued education to bring the highest level of professionalism and service to our communities,” said founder and CEO Sherry Lenarz.
CAI is an international organization dedicated to building better communities.
To earn the AAMC credential, a management company must have three years of experience in community association management and at least 50 percent of its managers must have earned professional designations.
HMH welcomes Fitch
HMH Engineering announced the addition of Nicole Fitch to its Coeur d’Alene branch. Fitch joins the HMH design team as a recent graduate of Lewis-Clark State College, where she attained her bachelor of applied science in engineering technology. Nicole was born and raised in Bonners Ferry and Sandpoint.
HMH is a North Idaho owned company providing engineering services in the fields of land and site development, water and sewer engineering, materials testing, GIS and surveying, and transportation engineering.
Bobbitt re-elected to FHLB of Des Moines board
David Bobbitt, chairman and CEO for Community 1st Bank, was re-elected to the Federal Home Loan Bank of Des Moines Board of Directors.
Based on the Federal Housing Finance Agency’s designations for bank directors, the states of Idaho, North Dakota and Wyoming each have one member director seat to fill. Bobbitt was the only eligible candidate who chose to stand for election in Idaho.
Bobbitt has served as chairman and CEO for Community 1st Bank since 2007. Bobbitt previously served as president of Sterling Savings Bank in Spokane. His banking career has also included positions with Idaho First National Bank and West One Bank.
Bobbitt serves as chair of Pacific Coast Banking School and is on the boards of Kootenai Electric Cooperative, currently audit chair, and immediate past chairman of the Coeur d’Alene Chamber of Commerce. Bobbitt was elected to the Seattle Bank’s board from the state of Idaho in 2012 and served in such capacity until the Seattle Bank’s merger with FHLB Des Moines in 2015. Bobbitt has served on the board of the FHLB Des Moines since June 1, 2015. He will begin serving his second full term as a FHLB director on Jan. 1, 2019.
WTS chapter to hold career panel
The Spokane–Coeur d’Alene WTS chapter will present a career spectrum panel on Sept. 19 at Barlow’s, 1428 N. Liberty Lake Drive, Liberty Lake from 11:30 a.m. to 1 p.m.
Women in the region’s transportation industry will discuss the professional track each has chosen, offering insight on the advantages and tradeoffs of different career choices.
The panel will be moderated by Larry Larson, assistant regional administrator for Washington State Department of Transportation’s Eastern Region.
Registration is $25 for WTS members and public agency employees, $30 for non-members and $10 for students.
Registration includes the panel presentation and lunch. Register by contacting firstname.lastname@example.org for a registration link.
WTS is an international organization dedicated to the advancement of women in the transportation industry.
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