Inb Offers New Stock To Current Investors

Inland Northwest Bank shareholders will have the chance to buy additional stock in the Spokane bank within the next few months, President Fred Schunter said Thursday.

The sale of 117,862 shares will add about $1.9 million to bank capital, enabling Inland to retain its regulatory standing as a well-capitalized bank, he said.

With growth for 1997 projected at 15 percent, Schunter said, the bank’s rating could have slipped to “adequately capitalized.”

The shares will sell for $16, slightly above the book value but far below the $26 the securities fetch in the market.

Schunter said the offering gives shareholders the opportunity to enlarge their holdings without dilution. A similar offering in 1994 was snatched up, he noted.

The date of record for the sale will likely be Jan. 15, the same one set for a 10 percent stock dividend, Schunter said.

Registration materials for the sale will be prepared in February, with the sale anticipated in March.

, DataTimes