Arrow-right Camera
The Spokesman-Review Newspaper

The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
Clear Day 67° Clear
News >  Business

Bank of Idaho acquiring five HomeStreet branches

UPDATED: Mon., May 16, 2022

Bank of Idaho has announced  it is acquiring five HomeStreet branches, including one in Spokane. The HomeStreet branch in Issaquah, Wash., is shown in this undated photo.   (Courtesy photo)
Bank of Idaho has announced  it is acquiring five HomeStreet branches, including one in Spokane. The HomeStreet branch in Issaquah, Wash., is shown in this undated photo.  (Courtesy photo)

Bank of Idaho has announced it will purchase five branches from HomeStreet Bank, including one in Spokane.

The other branch locations are in Kennewick, Dayton, Yakima and Sunnyside, according to a news release. The Spokane branch is at 818 W. Riverside Ave.

“Bank of Idaho’s roots serving communities across the western landscape make it a perfect fit in Eastern Washington,” said Jeff Newgard, president and CEO of Bank of Idaho.

Mark K. Mason, HomeStreet Bank president and CEO, said teams of employees from both institutions were working on a “seamless transition” that could close before Aug 1., pending regulatory approval.

“This sale allows HomeStreet to focus our retail-banking branch strategy on the larger metropolitan markets in the western United States,” Mason said.

“We are confident that Bank of Idaho will continue to provide our Eastern Washington branch customers with the excellent service and community focus they have come to expect.”

Terms of the agreement were not disclosed.

Bank of Idaho was formed in 1985 in Idaho Falls. It has 10 full-service locations and four mortgage offices.

HomeStreet Inc. is based in Seattle and focuses on real estate, commercial and consumer lending, according to the news release.Tom Clouse can be reached at (509) 459-5495 or at tomc@spokesman.com.

The Spokesman-Review Newspaper

Local journalism is essential.

Give directly to The Spokesman-Review's Northwest Passages community forums series -- which helps to offset the costs of several reporter and editor positions at the newspaper -- by using the easy options below. Gifts processed in this system are not tax deductible, but are predominately used to help meet the local financial requirements needed to receive national matching-grant funds.

Active Person

Subscribe now to get breaking news alerts in your email inbox

Get breaking news delivered to your inbox as it happens.