Mountain West Bank Has Record Earnings

Mountain West Bank, based in Coeur d’Alene, reported on Monday record earnings for the fiscal year ending March 31.

Earnings per share more than tripled compared with previous-year results, said President Jon Hippler. He attributed the increase to the 5-year-old bank’s growth in assets and mortgage lending.

“We’ve been a fortunate recipient of the mega-merger trends,” Hippler said, noting that some customers turn to community-based banks as their banks are sold. Mountain West found a niche in catering to small businesses and their owners, and in real estate loans, he said.

Fiscal year earnings were $501,177 or $.99 per share, compared with $151,700 or $.31 per share for the prior year.

Total assets grew 51 percent to $67.1 million. Loans were up 26 percent to $40.2 million, and deposits grew 53 percent to $57.8 million.

In addition to its Coeur d’Alene headquarters, Mountain West Bank operates branches in Hayden and Post Falls. The bank is considering adding a fourth branch, but has not decided on location or timing, Hippler said.