Jeff Johnson has been named president and sales manager of Spokane-based Tomlinson Black Commercial Inc.
A company news release said Mark Pinch, Tomlinson Black Commercial’s former president, will shift his focus to real estate investments and development. The move enables Pinch, who has been with the office since the mid-1970s, to address the company’s continuing growth and diversification.
Johnson rejoined Tomlinson Black Commercial last year after spending the past few years with Kiemle & Hagood. He specializes in the sale, leasing and development of office buildings.
Sterling makes acquisition
Sterling Financial Corp., the Spokane-based parent company of Sterling Savings Bank, said Monday it has agreed to acquire Lynnwood Financial Group Inc., of Mountlake Terrace, Wash., in a $65 million stock-and-cash transaction. The deal is expected to close in the third quarter.
Lynnwood Financial operates Golf Savings Bank, a mortgage origination company with offices in the Puget Sound region and one office in the Tri-Cities.
\Golf Savings Bank will continue to operate as a wholly-owned subsidiary of Sterling.
The acquisition “significantly strengthens Sterling’s residential mortgage lending capabilities,” said Harold Gilkey, chairman and CEO of Sterling Financial Corp., in a press release.
Avista announces quarterly dividend
Avista Corp. will pay a fourth-quarter dividend of 14 cents per common share.
Investors holding Series K preferred stock will collect $1.74 per share, the board of directors declared.
The dividend awards follow Avista’s announcement last week that its profit rose 12 percent in 2005 compared with the previous year based on higher energy rates and a rebound in energy marketing.
The dividends are payable March 15, according to a press release.
Housing will be focus of forum
“Inland Northwest Residential Housing: Markets, Issues and Opportunities” is the focus of a Feb. 23 meeting to be held by the Idaho chapter of the Urban Land Institute.
The forum includes case studies of housing projects in the region, including Black Rock’s high-end development on the water; Greenstone’s neighborhoods; affordable housing using federal tax credits; and towers in Coeur d’Alene’s downtown.
The forum runs from 8:30 a.m. to 11 a.m. at Edminster Student Union Building on the North Idaho College campus.
Pre-registration is required. The fee is $25 for ULI members and $35 for non-members. Admission is free for students.
Call 1-800-321-5011, or register online at www.uli.org; select meeting 8149-0613.