Bank Headquarters Will Move To Post Falls

Gavin Gee, acting director of the Idaho Department of Finance, has announced the approval of the application by Inland Northwest Bank to relocate its head office to Post Falls from its current head office in Spokane.

It is the first “border bank” approval issued by the department. Border banks are commercial banks near the Idaho/Washington border that are interested in relocating their headquarters from one state to the other.

The Idaho Legislature passed an interstate banking and branching law during the 1995 session. A key provision was a parity law, which grants state banks the same powers as national banks, subject to the finance director’s approval. National banks have been able to relocate across state lines, up to a 30 mile limitation.

By receiving a new charter and using the newly enacted legislation, Inland Northwest Bank has gained approval to move its head office into Idaho and continue to operate its branches in Washington. In addition to the head office, the bank has four branch offices in the Spokane area.

The new Idaho bank is expected to enhance competition in Kootenai County, one of the fastest growing areas in the state. Since opening in the fall of 1989, Inland Northwest Bank has grown to almost $80 million in assets.