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Spokane, Washington  Est. May 19, 1883
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Idaho Independent Bank is top local stock performer during volatile quarter

The Idaho Independent Bank branch in Coeur d’Alene, one of 11 in Idaho. (Courtesy Idaho Independent Bank)
The Idaho Independent Bank branch in Coeur d’Alene, one of 11 in Idaho. (Courtesy Idaho Independent Bank)

Idaho Independent Bank led the Hart Capital Inland Northwest Index during the first quarter, with a 12.4 percent increase in its stock price.

Despite the bank’s strong performance, the index tracking local stocks fell 0.1 percent during the quarter. Stocks, in general, ended slightly down after a volatile first quarter: The S&P 500 fell 1.2 percent and the Russell 2000 dropped 0.4 percent.

The index complied by Spokane-based Hart Capital Management looks at the performance of the nine largest publicly traded companies in the region.

Idaho Independent Bank’s stock rose after the company reported strong growth in loans and deposits and net interest margin, according to a Hart Capital Management news release.

Itron Inc. and PotlatchDeltic Corp. were the other top stock performers in the quarter, rising 4.9 percent and 4.3 percent, respectively.

Washington Trust Bank’s holding company, W.T.B. Financial Corp., had a 3.6 percent gain during the first quarter, and Key Tronic Corp. rose 2.1 percent.

Northwest Bancorp. had zero percent gain during the quarter. Avista Corp. was down 0.5 percent, and Hecla Mining Co. dropped 7.6 percent.

Clearwater Paper Corp. had the weakest performance during the first quarter, with a decline of 13.9 percent. The company’s stock performance over the past year was affected by several issues, including hurricanes, prolonged maintenance at its facilities and higher costs.

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