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Banking & Finance

Accurate financials key when selling a business

Inconsistencies can raise red flags, jeopardize deal
June 19, 2014
Ed Kirk
The market for buying and selling privately held companies has changed substantially during the last few years. The economic downturn significantly reduced sales and profitability of many companies, decreasing the number of companies for sale as would-be
Read More

Banks face some challenges in moving to the cloud

However, they potentially could reap major savings
June 19, 2014
Francis Tam
Cloud computing is changing the game for both large and small businesses. For many, cloud computing has received a lot of buzz because of its ability to decrease the costs associated with administering an on-site system, meaning less investment in informa
Read More

Bond investors should be preparing for volatility

Long-term rally could be coming to an end soon
June 19, 2014
Michael Maehl
For the last 30-plus years, it hasn't particularly mattered whether you owned bond funds or individual bonds. Helped by falling interest rates, they both delivered consistent income and a counterbalance to stock market volatility. But, with higher rate
Read More
—Katie Ross

Bank of America looks to build on loan growth in Spokane

Institution now employs about 350 people locally
June 19, 2014
Katie Ross
Bank of America Corp., the Charlotte, N.C.-based financial institution, increased its small business loans in Washington state by 22 percent last year and hopes to keep that momentum rolling, says Kurt Walsdorf, Spokane-based senior vice president and mar
Read More

Minimize risk of outliving your investment income

Planning is paramount as retirement dynamics shift
June 19, 2014
Hedley W. Greene and Bruce Pedey
It's 1950 and you are at the 'retirement age” of 65. It's expected that you will retire, and there's more than a gentle hand on your back as you clear out your desk. Social Security has been in place since 1935 thanks to FDR and the New Deale
Read More

Spokane's economy is on consistent growth track

Jobs continue to increase; wage growth is a concern
June 19, 2014
Steve Scranton
Spokane has seen 2014 start with a more consistent pattern of economic growth than the nation as a whole. Unlike much of the Midwest and East Coast, Spokane didn't suffer through the severe winter weather that hampered economic activity. The picture t
Read More
—Mike McLean

Gifting can help with estate taxes

Washington's rate affects more residents than feds' rules
June 19, 2014
Mike McLean
With historically high exemptions, fewer people are paying federal estate and gift taxes now than decades ago, but more Washington state residents should be aware of their potential state estate tax liabilities, some accountants here say. Washington has
Read More
—Judith Spitzer

Horizon Credit Union's focus on footprint

Credit union's total assets approaching $600 million
June 19, 2014
Judith Spitzer
Spokane Valley-based Horizon Credit Union has substantially expanded its charter since it was established 67 years ago and has absorbed a couple of other credit unions in recent years, contributing to solid membership, loan, and asset growth. Founded as
Read More
—Mike McLean

CPA firm merges with big Midwest practice

McDirmid, Mikkelsen slated to become part of Eide Bailly
May 22, 2014
Mike McLean
Longtime Spokane accounting practice McDirmid, Mikkelsen & Secrest PS says it will merge next month with big Midwest-based firm Eide Bailly LLC. McDirmid, Mikkelsen & Secrest, will take on the name of the larger firm. Andrew McDirmid, a partner here, s
Read More

Northwest Farm Credit Services reports rise in earnings, total capital

Favorable market lifted its performance, co-op says
May 8, 2014
Katie Ross
Spokane-based agricultural cooperative Northwest Farm Credit Services says it had first-quarter earnings of $54.2 million, up 13 percent from $48 million in the first quarter of 2013, and its total capital increased 2.3 percent, to $1.8 billion as of Marc
Read More
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