Northwest Bancorp. says earnings off

Northwest Bancorporation Inc. Friday announced sharply lower earnings but increases in assets, loans and deposits.

For the third quarter, the parent of Inland Northwest Bank earned $203,000, or 9 cents per share, compared with $545,000, or 31 cents per share, for the 2007 quarter.

The company earned $1.14 million, or 48 cents per share, during the first nine months of 2008, down from $1.9 million, or 80 cents per share, for the first nine months of 2007.

Assets have increased to $389.7 million as of Sept. 30, up 13.4 percent since Dec. 31 and 21.9 percent in the last year. Deposits, at $309.9 million, have grown 13.7 percent so far in 2008 and 24 percent in the last year. Net loans have increased 20 percent this year, to $332.4 million, almost 33 percent higher than a year ago.

Loan-loss reserves have increased by $1 million in 2008, to a total of $3.5 million. Write-offs and charges reached $384,000, a fivefold increase over 2007. Nonperforming assets are up almost tenfold to $8.3 million, with five customers accounting for much of the problem, President Randy Fewel said.

Interest rate cuts by the Federal Reserve have also hurt, he said, with each quarter-point drop subtracting $25,000 from monthly bank earnings, he said.

Despite the reduction in earnings, Fewel said Inland has done well in a challenging economy by avoiding subprime mortgages and investments in Fannie Mae and Freddie Mack, the ailing mortgage giants.

PORTLAND

Columbia Sportswear Q3 profits down

Columbia Sportswear Co., which makes outdoor apparel and footwear, said Thursday its third-quarter profit fell 7 percent, hurt by lower demand. But the results surpassed analyst expectations amid a difficult economy.

Profit for the quarter ended Sept. 30 fell to $58.3 million, or $1.69 per share, from $62.6 million, or $1.72 per share last year.

Revenue fell 4 percent to $452.4 million from $471.1 million last year. Revenue fell in all regions except Latin American and Asia Pacific.

The Portland company said the outdoor category has been resilient despite a weak retail environment and raised guidance for the fiscal year.

From staff and wire reports