idaho first bank (IDFB) Key Developments
Idaho First Bank Promotes Adrian Jones to Vice President and Boise Market Manager
Jan 31 14
Idaho First Bank has promoted Adrian Jones to the position of Vice President and Boise Market Manager overseeing all commercial and retail banking in Boise. Mr. Jones's office will be with the Commercial Banking team located in Idaho First Bank's newest branch at 209 N. 12(th) Street in downtown Boise. Mr. Jones joined Idaho First Bank in 2013, however he brings over 28 years of commercial and retail banking experience to his new role overseeing commercial and retail banking for the Boise market. Most recently, Mr. Jones held the position of Vice President, Senior Commercial Loan Officer with Banner Bank and prior to that was a Vice President, Commercial Lender with Mountain West Bank.
Idaho First Bank Unveils a New Full Service Branch Bank in the Downtown Core of Boise, Idaho
Jan 30 14
Idaho First Bank unveiled a new full service branch bank in the downtown core of Boise, Idaho on January 27, 2014. Located at 209 N. 12th Street, Idaho First's newest branch will be managed by Ms. Stephanie D. Smith.
Idaho First Bank Announces Executive Changes
Jan 17 14
Idaho First Bank has named Kathleen C. Lewis to Executive Vice President and Chief Credit Officer to replace Jerry Jutting who has served in the CCO role for the last six years and plans to retire in June, 2014. Ms. Lewis, a licensed CPA in the state of Idaho, will hold responsibility for all aspects of credit administration and credit quality for the Bank's lending functions and credit portfolios. Ms. Lewis brings over twenty five years of banking experience to her role, having led teams and divisions in the areas of commercial banking, private banking, and retail and small business banking. Most recently, Kathleen served as senior vice president and regional team leader for several US Bank commercial banking locations in western Idaho.
Idaho First Bank Announces Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2013
Jan 16 14
Idaho First Bank announced unaudited earnings results for the fourth quarter and year ended December 31, 2013. For the quarter, the company reported net interest income was $890,000 compared to $788,000 a year ago. Net income before taxes was $101,000 compared to $118,000 a year ago. Net income was $853,000 compared to $118,000 a year ago.
For the year, the company reported net income of $1,216,000, compared to net income of $262,000 in 2012. Net income before taxes was up 77%, from $262,000 in 2012 to $464,000 in 2013. Net income was enhanced as the Bank began to utilize the benefit of its deferred tax asset. Net interest income was $3,305,000 compared to $3,001,000 a year ago. Comparing the two years, the Bank achieved a 10% increase in net interest income. This was driven by average loan growth of 3% and net interest margin improving from 3.88% to 4.10%. Improving credit quality allowed for a reduction in the provision for loan losses from $685,000 to $410,000. Mortgage banking income was up 31%, contributing to the improved results.
Idaho First Bank to Open New Branch in Early January
Oct 31 13
Idaho First Bank announced that the new branch will open in early January, following building renovations.