Inland Northwest Bank Profits Rise

Inland Northwest Bank Friday announced earnings for the quarter and nine months ended Sept. 30.

For the quarter, income rose 49 percent, to $280,397, compared with $188,500 for the same period last year. Per share results were 68 cents compared with 46 cents before accounting for an increase in shares this year due to a stock dividend and rights offering.

For the first nine months of the year, after-tax income reached $713,506, a 72 percent jump from the $413,607 recorded for the same period a year earlier.

Deposits have increased 15 percent to $95 million in the last year. Loans climbed 18 percent to $76.4 million.

Also, President Fred Schunter said Inland, with eight branches already, has leased a building a 622 Sherman Ave. in Coeur d’Alene, where a branch will be open next year.

If the branch receives the necessary regulatory approvals, it will be the Spokane-based bank’s second in Idaho.

, DataTimes