Banking & Finance

URM Stores investigation ending; ripple effects continue

Credit unions increase fraud monitoring in wake of attack

February 13, 2014

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

Sterling Financial reports earnings increase

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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

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

Niche lender in Spokane Valley reports that commercial lending activity is picking up

Company expects its SBA loan volume to rise in '14

January 30, 2014

Treva Lind

Millwood-based Commercial Lending Northwest Inc., a tiny 15-year-old company that provides commercial financing services to businesses, including for bridge and conventional loans, says it expects to see lending growth this year, especially in the packagi

Take steps now to maximize Social Security benefits

Consider taking deferral, reviewing spousal options

January 30, 2014

Ryan Franklin

As the second largest city in the state with a population of more than 200,000, Spokane has a lot to offer. Last year, Huffington Post ranked Spokane as one of the top 10 cities to retire given the city's weather, affordable housing, and local culture a

Marijuana businesses pose risk to banksâ€”for now

Financial institutions follow federal laws, await clarity

January 30, 2014

Katie Ross

Financial institutions in Washington state are anticipating federal guidance on how best to navigate the precarious issue of state law versus federal law in regard to allowing marijuana businesses access to traditional banking services. That question h

Four Spokane-area credit unions rank high on Puget Sound Business Journal's list

STCU, Numerica in top five; Horizon, Global place

January 30, 2014

Staff Report

Four Spokane-area credit unions are among the 20 largest in Washington state in terms of total assets, according to a top 25 credit unions list that the Puget Sound Business Journal published earlier this month. Two of the organizations here, Spokane Te

Umpqua's Sterling acquisition is part of larger trend

More banks likely to merge in regulatory environment

January 30, 2014

Ezra Eckhardt

As Portland, Ore.-based Umpqua Holding Corp. and Spokane-based Sterling Financial Corp. await regulatory approval of the proposed merger of their respective banks, it's a good time to pause and consider how the financial landscape is shifting in both th

Inland Northwest public companies show growth in 2013 index

Bank stocks perform well; Coldwater Creek plummets

January 30, 2014

Treva Lind

Hart Capital Management Inc., a Spokane-based investment firm, says the stock value of 14 publicly traded Inland Northwest companies rose just over 12 percent last year in an overall index, but still lagged behind the Standard & Poor 500's nearly 30 per

RiverBank is back to 'playing offense'

Institution profitable again, expects FDIC to terminate consent order soon

January 30, 2014

Kim Crompton

RiverBank, an eight-year-old bank here that has sought to differentiate itself in the competitive local financial market by offering concierge services to mostly small-business and commercial clients here, says it returned to profitability last year and i