Bank of Idaho Adds New Loan Production Office in Eastern Washington
Bank of Idaho has expanded into Eastern Washington by acquiring five branches from HomeStreet Bank and opening a loan production office in Pasco. The transition aims to create a comprehensive banking ecosystem while retaining local staff. This move marks Bank of Idaho's first extension beyond Idaho's borders, aligning with its commitment to agriculture and small business support. The completion of the branch integration is expected by August 1. The bank also brings in seasoned professionals with over 70 years of experience in agricultural and commercial loans.
- Acquisition of five branches enhances regional presence in Eastern Washington.
- New loan production office staffed by experienced professionals with 70+ years in the industry.
- Alignment with local community values related to agriculture and small businesses.
- None.
IDAHO FALLS, ID / ACCESSWIRE / May 12, 2022 / Bank of Idaho on May 11 expanded its regional footprint into Eastern Washington, striking a deal to transition five HomeStreet Bank branches into Bank of Idaho. On the heels of that acquisition, Bank of Idaho is bringing on three experienced officers to open a loan production office in Pasco, Washington.
"We're delighted to get the opportunity to work with the professionals who make up these branches and become a part of their communities," Bank of Idaho President and CEO Jeff Newgard said. "We can't wait to show the people of Eastern Washington how much heart Bank of Idaho has to offer through our integrity, our courtesy and our unwavering support for the entrepreneurial spirit."
Bank of Idaho is a community bank with 10 branches across southern Idaho, five mortgage production offices and now five branches in Eastern Washington.
The new Loan Production team is made up of Brad Bartley, Sam McKinnis, and Julie Killian who share more than 70+ years of experience in originating agricultural and commercial loans for the people of Eastern Washington, which aligns perfectly with Bank of Idaho's passionate support and expertise of small businesses and agricultural loans.
"We are incredibly fortunate to move under the umbrella of Bank of Idaho, an institution with an unflinching commitment toward small business and the communities in which they thrive," Brad Bartley said "With their support, we are looking forward to facilitating the needs of our business community for years to come."
The successful acquisitions of the branches and the loan production office kick off a complete banking ecosystem in Eastern Washington. Customers will continue banking with the same friends and neighbors they have come to know at each branch, with both Bank of Idaho and HomeStreet dedicated to ensuring a smooth and easy transition.
When the deals officially close, it will mark the first time Bank of Idaho has increased its footprint beyond the borders of Idaho.
Newgard said the acquisition was appealing because the regions were so similar in their support for agriculture, local business and small-town sensibility.
"The people of Idaho and the people of Eastern Washington are connected by our values and our way of life," Newgard said. "We jumped at the opportunity to serve a population who understands and appreciates our community-first approach to banking. And as a result, our united footprint will mean stronger opportunities for everyone."
Once approved, the banks are scheduled to finish transitioning to Bank of Idaho branches by August 1. The loan production office is already open for business.
About Bank of Idaho
For 37 years, Bank of Idaho has been a financial fixture in the eastern Idaho community since the original location opened in downtown Idaho Falls, and where headquarters are still located today. Later expanding to include now 11 full-service locations, and 5 mortgage offices across the state. Stock for the Bank of Idaho Holding Company opened to public trading on the OTC-QX market under the symbol BOID October 2019. With community growth their first priority, Bank of Idaho focuses on small businesses, and is Idaho's leader in SBA lending. For more information, visit www.bankofidaho.com.
Contact: Tyler Kraupp
Phone: 208.390.0667
tylerkraupp@bankofidaho.net
SOURCE: Bank Of Idaho Holding Co
View source version on accesswire.com:
https://www.accesswire.com/701154/Bank-of-Idaho-Adds-New-Loan-Production-Office-in-Eastern-Washington
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