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The Spokesman-Review Newspaper The Spokesman-Review

Spokane, Washington  Est. May 19, 1883
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Jailed developer Jeffreys faces new fraud, contempt, conspiracy charges

A new federal indictment against jailed developer Greg Jeffreys and his wife accuses the couple of defrauding a local bank to buy pieces of the troubled Ridpath hotel. A second indictment filed in U.S. District Court in Spokane accused him and co-defendant and girlfriend Shannon Stiltner of conspiracy and criminal contempt for violating a federal judge’s order prohibiting the pair from communicating.

RiverBank co-founder Utt gives resignation

Steve Utt, who was one of the co-founders of Spokane-based RiverBank, has resigned from the company. RiverBank CEO Chuck Brooks said Utt resigned as executive vice president and chief credit officer.

RiverBank co-founder Utt resigns

Steve Utt, who was one of the co-founders of Spokane-based RiverBank, has resigned from the company. RiverBank CEO Chuck Brooks said Utt resigned as executive vice president and chief credit officer.

Spokane developer planning to buy portion of Ridpath

A Spokane developer said Friday he may be a step closer to buying the foreclosed Y Building, one of several parts of the shuttered Ridpath Hotel properties. Stephen Antonietti said the Las Vegas lender that financed the building’s sale in 2008 failed to find a single bidder to take over the building, at the corner of First Avenue and Stevens Street.

Lottery winners plan to buy big stake in struggling bank

A lottery-winning couple from rural central Washington plan to buy a large stake in Spokane-based RiverBank. Jim and Carolyn McCullar, who earlier this year won $190 million – about half of the Mega Millions Lottery – are reportedly on the verge of buying a 22.33 percent interest of privately held and struggling RiverBank Holding Co., according to the Federal Reserve, which recently printed a legal advertisement in The Spokesman-Review.

Impact of closed bank swirling

The Bank of Whitman’s failure has left other regional lenders stuck with piles of insider loans that could lead to millions in losses. Recent court filings and public records disclose that RiverBank, of Spokane, for example, loaned large sums of money to employees of Bank of Whitman for stock purchases in the Colfax-based institution that federal and state regulators closed in early August. Many of those loans, which critics say were pre-arranged between the lending institutions, are now in default.

Local companies get chance to shine

Key Tronic Corp. has transformed itself from a company once wholly dependent on its keyboard business to one that makes gaming machines, printers, medical devices and satellite control units. It has reported a profit for 22 consecutive quarters. There’s not a dime of debt on the books. And the stock trades at almost a 50 percent discount compared with that of its competitors.