NW Bancorp announces loss

Northwest Bancorporation, Inc. on Friday announced a fourth-quarter net loss of $607,000, compared to a net loss of $438,000 for the fourth quarter of 2010.

President and CEO Randall L. Fewel reported a net loss of $746,000 for the year ended Dec. 31, 2011, compared to net income of $945,000 for the year ended Dec. 31, 2010.

"After making a small profit in 2010," Fewel said, "we are disappointed to show a loss in 2011. But I have said all along that the road to full recovery will be a bumpy one, and it clearly is. Nevertheless, there were many positives for us this past year that we hope to build on in 2012."

The company is the parent company of Inland Northwest Bank. The Bank reported a loss for the fourth quarter 2011 of $487,000, compared to a loss of $385,000 for the fourth quarter of 2010. For the year, the Bank reported a loss for 2011 of $421,000, compared to a net profit of $1.4 million for 2010.

"We continue to grow revenue," Fewel said.

Total revenue, defined as net interest income plus non-interest income, was $19.3 million in 2011, compared to $18.7 million in 2010. This represents a $630,000, or 3.4 percent, increase in total revenue. This increase followed a 10.3 percent increase in total revenue for the previous year.

"Gross revenue is an important measure of the fundamentals of a bank," Fewel said, "and I believe our fundamentals are sound. The company has demonstrated a positive six year trend in this important metric."