Idaho Trust Bank has bought a vacant bank building on the east end of downtown Coeur d'Alene where it has moved its North Idaho branch—and where it has room to expand in coming years, says Daniel Prohaska, the bank's co-founder and CEO.

The 1,800-square-foot freestanding bank building is located at 622 E. Sherman.

Until earlier this week, the bank branch was located in leased space at 1450 Northwest Blvd.

The one-story Sherman Avenue building was erected in 1975 and has housed a number of banks, Prohaska says. It has on-site parking and a drive-up teller window. The bank also plans to add a drive-up automated teller machine within a few months, he says.

Prohaska and his brother, Thomas, founded the bank in 1994, in Coeur d'Alene, although it's now headquartered in Boise, where it operates a second branch.

The Coeur d'Alene branch employs seven people.

Prohaska says Idaho Trust plans to expand the Sherman Avenue building and double its staff there within the next three years.

Idaho Trust bills itself as a wealth-management bank. Its services include investment and retirement-planning, trust and estate administration, and business succession planning.

"The bank has normal community banking services and standard bank products," he says. "It also manages more than $250 million in assets for clients."

On the banking side of the operation, the bank reported $74.2 million in total assets, $47.8 million in loans, and $58.5 million in deposits as of March 31. Its net income for the quarter was $237,000, up from $28,000 in the year-earlier quarter.