W.T.B. Financial Corp. will fold its Idaho and Washington banks into a single entity, the Spokane holding company announced Tuesday.
Northern State Bank will become the North Idaho Region of Washington Trust Bank following approval by federal regulators, a process likely to push the consolidation into March 1997.
Northern State Bank, a subsidiary of W.T.B. since 1989, has three branches, 44 employees and $103 million in assets. President Parker Woodall will become Washington Trust Bank area president, retaining the current staff.
He said the consolidation will expand the products available to customers while keeping decision-making local.
For example, Idaho customers will have access to trust and investment services, and commercial loan limits will be raised to $8 million from $1 million, said Washington Trust Vice President Lea Werner.
The bank also could add more branches, she said. “We’re looking to expand in the North Idaho market.”
Washington Trust Bank has 27 branches, 625 employees and $1.2 billion in assets.