Movers and Shakers October 30, 2012

Building contractor's association to hold membership drive

The North Idaho Building Contractor's Association will hold a membership drive Wednesday, Nov. 7, from 9 a.m. to 4 p.m. at 1928 N Fourth St., Coeur d'Alene.

"This is a wonderful opportunity to become active and involved in the association that is working to make sure the economy remains viable for the local building industry community," according to a press release.

NIBCA was established in 1970 and is dedicated to promoting the building industry. It has more than 125 members including builders, banks, architects, attorneys, accountants, title companies, insurance agencies and Realtors.

To participate in the drive, or become an NIBCA member, call 765-5518.

Candy Inbody earns Broker Price Opinion Resource certification

Candy Inbody with Keller Williams Realty Coeur d'Alene has earned the Broker Price Opinion Resource certification.

The National Association of Realtors offers the BPOR certification as evaluating properties depends more than ever on professional expertise and competence, the best use of technology, and a commitment to approach the valuation assignment from all pertinent perspectives.

"As the real estate market evolves we are seeing more demand for broker price opinions, and it's imperative that Realtors are knowledgeable and educated about how BPOs work, as well as the risks involved," said NAR President Moe Veissi, broker-owner of Veissi & Associates Inc., in Miami.

Idaho Independent Bank reports net loss for third quarter

Idaho Independent Bank reported a net loss for the quarter ended Sept. 30, was $5 million, or 61 cents per diluted share, compared to a net loss of $608,000, or 10 cents per diluted share, for the same period a year ago.

Jack W. Gustavel, chairman and chief executive officer of Idaho Independent Bank announced IIB's consolidated unaudited financial results for the third quarter and nine months ended Sept. 30.

Gustavel reported the bank's net loss for the nine months ended Sept. 30 was $5.9 million, or 72 cents per diluted share, compared to a net loss of $2.7 million, or 42 cents per diluted share, for the same nine-month period a year ago.

"The loss for the quarter was primarily due to writing down certain other real estate owned and adding to IIB's Reserve for Loan and Lease Loss Account. This is part of our strategy to improve asset quality and help return the bank to profitability as quickly as possible," Gustavel said in a press release.

IIB's total assets as of Sept. 30, decreased $800,000, or less than 1 percent, to $453 million from $453.8 million at Sept. 30, 2011.

Intermountain Community Bancorp reports net income

Intermountain Community Bancorp, the holding company for Panhandle State Bank, reported $343,000, or 1 cent per share, in net income applicable to common shareholders for the third quarter 2012, as a lower loan loss provision offset lower net interest and other income than reported in the second quarter.

The third quarter 2012 results compare to net income applicable to common shareholders of $301,000, or 1 cent per share in the second quarter of 2012, and a loss applicable to common shareholders of $1.2 million, or 14 cents per share, in the third quarter of 2011.

Net income applicable to common shareholders improved to $978,000, or 2 cents per share, for the first nine months of 2012, compared to a loss of $2.7 million, or 32 cents per share, in the comparable 2011 period, as decreases in interest expense, operating expense and the provision for loan loss offset decreases in interest and other income.

"These results demonstrate a steady progression of improved performance amidst a very challenging interest rate environment by focusing on areas the Company can control, including reducing interest and operating expense, minimizing risk, and re-deploying cash into higher-yielding assets," said Chief Executive Officer Curt Hecker. "We are also accelerating efforts to expand existing relationships and attract and develop new customers in our markets."

Glacier Bancorp, Inc. reports

net income for current quarter

Glacier Bancorp, Inc. reported net income for the current quarter of $19.4 million, an increase of $5.9 million, or 43 percent, compared to $13.6 million of operating net income for the prior year third quarter.

Diluted earnings per share for the current quarter was 27 cents per share, an increase of 8 cents, or 42 percent, from the prior year third quarter diluted earnings per share of 19 cents.

"The company ha another solid quarter with credit costs continually improving and helping to offset the pressure to net interest income," said Mick Blodnick, president and chief executive officer. "Once again this quarter we had record levels of premium amortization within our investment portfolio further compressing our net interest margin. Until we see a slow down in refinance volume, this higher level of premium amortization will persist," Blodnick said.

Glacier Bancorp, Inc. is headquartered in Kalispell, Mont., and is the parent company for several banks including Mountain West Bank in Coeur d'Alene.

If you have a new, relocated or expanded business, or announcement of events, promotions or awards, The Press wants to let our readers know. The service is free and items run Tuesday through Saturday. To get the word on the street on your movers and shakers, call city editor Bill Buley at 664-8176 Ext. 2016 or e-mail bbuley@cdapress.com.