Banking & Finance

Inland Northwest bankers navigate low interest rates, slim margins

Financial institutions eye other revenue sources

April 8, 2021

Zero-percent benchmark interest rates have sparked unprecedented loan demand for Spokane-area banks and credit unions. They also have pinched profit margins and shifted focus to noninterest revenue streams, in some cases.

Guardian Mortgage to add second Spokane office

Home loan provider expects to double staff, add 18 new positions

March 25, 2021

Virginia Thomas

Guardian Mortgage plans to open an office in the Wonder Building, its second Spokane location here in three years, says the company's Spokane-based regional manager Jay Affleck. The company has leased about 3,000 square feet of office space on the

Banner Bank to lay off handful of employees in Spokane

Company plans to reduce workforce by up to 28 in all

March 11, 2021

Virginia Thomas

Banner Bank is laying off employees here for the first time since it entered the Spokane market. Kelly McPhee, Spokane-based vice president of communications and public relations for the Walla Walla-based bank, says six people here have received

COVID-induced business concepts urged for 2021

'2020 hindsight' focuses on gaining some momentum

March 11, 2021

Kurt Walsdorf

Many of us in the Spokane and North Idaho business community are seeing progress and momentum after the unexpected challenges we faced in 2020. As you plan for the months ahead, here are some recommendations to continue building resilience

Downturn squeezes women financially

Child care, disrupted income are having disproportionate toll

March 11, 2021

Sarah Carlson

In Spokane, our community has been hit hard by the pandemic's impacts due to our business demographics and population. According to the Washington state Employment Security Department, our economic engine in the Inland Northwest is a community of

Pandemic spurs unprecedented giving at Innovia

2020 saw a record $10M in grant awards, well above amount in previous year

March 11, 2021

Kevin Blocker

When Innovia Foundation CEO Shelly O'Quinn moved all office operations from an antiquated database server to a cloud-based system, she had no idea how big of a deal the decision ultimately would be.

INW nonprofits ramp up planned giving outreach

Nonprofits, advisers report increases in end-of-life donations

March 11, 2021

Natasha Nellis

Planned giving is expected to increase in the coming years, and Spokane-area nonprofits are ramping up efforts to draw in long-term donors. The U.S. is barreling toward the largest wealth transfer in history, with baby boomers expected to transfer

The Great Wealth Transfer to slam financial advisers

Some say industry could struggle with influx of work in coming years

March 11, 2021

Virginia Thomas

There might not be enough advisers to handle the 'great wealth transferâ€ anticipated to occur as baby boomers pass away and leave assets to their heirs, some in the Spokane-area financial planning industry say.

Five qualities to seek in a financial adviser

Automated investing apps can't comprehend custom planning goals

February 11, 2021

Sarah Carlson

Walmart is getting into the business of financial advice? I immediately thought, well, they are no longer as prevalent now that Amazon has taken so much of their market share, and they are trying to stay profitable to the market changes.

Pandemic pushes scores of people toward retirement

Many choose to leave jobs during challenging time, observers say

February 11, 2021

Kevin Blocker

Last year, investment adviser Kyle Weir received a call from a client looking to explore her options. Weir's client, a veteran educator, was right against retirement age.