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Thu., April 22, 2010, 5:22 p.m.

Northwest Bancorporation returns to profitability

Northwest Bancorporation Thursday reported its first profitable quarter in more than a year.

The parent of Inland Northwest Bank earned $586,000 in the quarter ended March 31, a reversal from a loss of $256,000 for the first quarter of 2009. After allowing for preferred stock dividends and other adjustments, the gain per common share was 17 cents, compared with a 14-cent loss in the 2009 quarter.

Revenues for the quarter increased almost 16 percent, to $4.6 million, compared with 2009.

President Randall Fewel noted the bank benefited from an increase in interest margins to 4.04 percent, and improving non-interest income on average assets.

As of March 31, the bank had assets of $398.2 million, up for the year but one percent below March 2009 levels.

The bank has improved its "Texas Ratio," a measure of credit soundness, from 36 percent to 27 percent, Fewel said, adding that the average ratio for banks headquartered in Washington was 100 percent.   

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Bert Caldwell
Bert Caldwell oversees production of the opinion pages, including writing editorials, and editing and selecting letters, columns and cartoons.