Panhandle Bank Earnings Surge 42%

Earnings for the Panhandle State Bank in Sandpoint exploded in 1994. Assets, loans and deposits also surged, and stockholder equity was up 29 percent.

Net income for the year reached $1.4 million, or $5.48 per share, a 43 percent gain over 1993.

Assets grew 11 percent to $66.8 million, loans 15 percent to $42.6 million, and deposits 9 percent to $58.3 million.

President C.L. Bauer noted in a prepared statement that the bank also easily exceeds most measures of performance for financial institutions.

And a Bonners Ferry branch started showing a profit after only four months, he said.