Movers and shakers

Ohler joins Ramsden, Marfice, Ealy & Harris law firm

The law firm of Ramsden, Marfice, Ealy & Harris, LLP announced the addition of attorney Nathan S. Ohler.

“Ohler’s experience in insurance defense, construction defect litigation and other areas of civil litigation make him a valuable addition to the firm,” stated the firm’s announcement. Prior to joining RMEH, Ohler practiced with a private firm in Boise.

RMEH provides legal services in the areas of professional malpractice defense, real estate, business, construction, mediation, estate planning and complex civil litigation. The firm’s offices are located at 700 Northwest Blvd. in Coeur d’Alene. Visit www.rmehlaw.com for more information.

Community 1st Bank reports strong fourth quarter, solid year end

Community 1st Bank reported net income of $577,475 for the year ending Dec. 31, 2015, compared to $657,348 for the same period in the prior year. Pretax net income increased $346,929 in 2015 to $848,277 up from $501,348 in the prior year. Total assets at Dec, 31, 2015, were $97.1 million, an increase of $3.1 million or 3.33 percent from the prior year end. Total loans increased $6.8 million to $64.9 million and total deposits increased $2.5 million to $85.4 million. There were no non-performing assets for the period, representing a decrease from 0.2 percent from the prior year.

“We are very pleased to share the successful results of our strategic focus for 2015. As presented in our quarterly communications throughout the year, we have achieved many of the significant milestones that form the basis of our financial plan toward continuing to build a local bank that increasingly serves Kootenai County’s growing needs,” said David Bobbitt, CEO and chairman of the board. “This ongoing, community-centered, commitment is strongly evidenced by our pre-tax earnings of $848,277, at year end, representing an increase of 69.2 percent over the prior year. Further, we have seen our loan production efforts result in an 11.7 percent growth, year over year, complimented by the fact that we have no non-performing assets at year end.”

Bobbitt said the bank remains well-positioned for continued growth in Kootenai County.

“Likewise, we continue to emphasize our contribution of time, energy, and expertise, where our teams have dedicated over 2160 hours of local volunteer time, toward confidently serving our communities in the best possible way,” Bobbitt said.

2015 Highlights:

Pretax Net income of $848,277 or $0.81 per share, compared to $501,348 or $0.48 per share as of December 31, 2014. After tax earnings per share were $0.55 and $0.63 for the same respective periods.

• Total assets grew 3.1 percent to $97.1 million as compared to $93.9 million a year ago.

• Tangible book value per share increased to $10.60 from $10.04 as of the prior year end.

• Pretax return on equity for the quarter increased to 9.17 percent from 4.89 percent a year ago.

• For the year ending Dec. 31, 2015, pretax return on equity was 7.82 percent up from 4.92 percent in the prior year. After tax ROE was 5.33 percent and 6.46 percent for the years ending Dec. 31, 2015 and 2014, respectively.

• The net interest margin increased to 3.72 percent year to date from 3.48 percent in the prior year.

• There were no nonperforming assets, down from 0.20 percent at Dec. 31, 2014.

• Allowance for loan losses was 1.74 percent of loans.

• Capital ratios continue to exceed regulatory requirements, with total risk-based capital substantially above well-capitalized regulatory requirements.

• For 21 consecutive quarters, Community 1st Bank was awarded a 5-star rating, the highest available, from independent banking rating agency BauerFinancial.

Community 1st Bank is a state-chartered commercial bank with branches in Post Falls and Coeur d’Alene.

For information vist www.com1stbankid.com or call (208) 635-7171 Coeur d’Alene or (208) 457-9610 Post Falls.

Community 1st Bank announces stock dividend

David Bobbitt, chairman and CEO of Community 1st Bank announced the bank’s board of directors declared a 5 percent stock dividend on the bank’s outstanding common stock. The stock dividend will be payable on March 25, 2016, to shareholders of record as of the close of business on March 4, 2016.

In lieu of issuing fractional shares of stock in connection with the stock dividend, cash — equivalent to the value of the common stock determined in good faith by the board in such manner as it deems appropriate — shall be paid to shareholders of record.

Community 1st Bank is an Idaho state-chartered commercial bank headquartered in Post Falls with branch offices in Post Falls and Coeur d’Alene.

Randy Oetken, real estate professional with Windermere/Coeur d’Alene Realty, was recently awarded the Resort and Second-Home Property Specialist Certification. Oetken successfully completed comprehensive courses including finance, negotiation, technology tools, investment, regulations, environmental impact, property management, international marketplace, tax ramifications and luxury property marketing.

The Resort and Second-Home Property Specialist is recognized as an official National Association of Realtors Certification, and allows buyers and sellers to have confidence in the ability of a real estate professional who specializes in buying, selling or management of properties for investment, development, retirement, or second homes in a resort, recreational and/or vacation destination, to assist them with their search.

Oetken may be contacted at (208) 660-0518 or Oetken@RealEstate-Browser.com

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 about your movers and shakers, email City Editor Maureen Dolan at mdolan@cdapress.com.