Idaho Independent Bank, one of the more prominent of the wave of independent banks recently formed in North Idaho, Tuesday reported record earnings for last year.
The bank earned a record $247,000 in 1995, according to Jack Gustavel, chairman, president and CEO of the bank, which has branches in Hayden Lake and on Northwest Boulevard in Coeur d’Alene.
The bank’s total loans ended 1995 at $25 million, with total deposits at $38 million.
“This is where we expected the bank to be sometime in 1999,” Gustavel said in a release. The mergers with larger banks with branches in Kootenai County contributed to IIB’s success, he said.