Bank of Idaho Adds New Loan Manufacturing Office in East Washington

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IDAHO FALLS, ID /ACCESSWIRE / May 12, 2022 / Bank of Idaho expanded its regional presence into eastern Washington on May 11, entering into an agreement to convert five HomeStreet Bank branches into Bank of Idaho. Following this acquisition, Bank of Idaho hires three experienced associates to open a loan manufacturing office in Pasco, Washington.

“We are excited for the opportunity to work with the professionals at these branches and to be a part of their communities,” said Jeff Newgard, President and CEO of Bank of Idaho. “We can’t wait to show the people of eastern Washington just how much heart the Bank of Idaho has to offer through our integrity, our courtesy and our unwavering support of entrepreneurship.”

The Bank of Idaho is a community bank with 10 branches in southern Idaho, five mortgage offices and now five branches in eastern Washington.

The new Loan Production team consists of Brad Bartley, Sam McKinnis and Julie Killian, who share more than 70 years of experience providing agricultural and commercial loans to the people of eastern Washington, which aligns perfectly with the Bank of Idaho’s passionate support know- how of small business and farm loans.

“We are incredibly fortunate to move under the umbrella of the Bank of Idaho, an entity with an unwavering commitment to small businesses and the communities in which they thrive,” said Brad Bartley. “With their support, we look forward to serving the needs of our business community for years to come.”

The successful takeovers of the branches and loan production office launch a complete banking ecosystem in eastern Washington. Customers will continue to bank with the same friends and neighbors they met at each branch, with both Bank of Idaho and HomeStreet committed to ensuring a smooth and easy transition.

When the deals officially close, it will be the first time the Bank of Idaho has expanded its presence beyond Idaho’s borders.

Newgard said the acquisition is attractive because the regions are so similar in their support for agriculture, local businesses and a small-town spirit.

“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 that understands and appreciates our community-focused approach to banking. And as a result, our collective footprint will mean better opportunities for all.”

Once approved, banks are expected to complete the transition to Bank of Idaho branches by August 1. The credit production office is already open for business.

About the Bank of Idaho

For 37 years, the Bank of Idaho has been a fixture in the east Idaho community since opening its original location in downtown Idaho Falls, where its headquarters are still located today. Later expansion to now 11 full service locations and 5 mortgage offices statewide. Shares of Bank of Idaho Holding Company opened to the public on the OTC QX market in October 2019 under the symbol BOID. Focused on small businesses, Bank of Idaho is Idaho’s premier provider of SBA loans because community growth is a top priority. For more information visit www.bankofidaho.com.

Contact: Tyler Kraupp
Telephone: 208.390.0667
[email protected]

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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