December 25, 2014 5:20 PM ET

Banks

Company Overview of Intermountain Community Bancorp

Company Overview

Intermountain Community Bancorp provides commercial banking services. It offers deposit products, including checking, savings, and money market accounts, as well as various certificates of deposit, time deposits, and reverse repurchase agreements and sweep accounts. The company also provides various loan products, such as commercial loans; loans for agricultural, real estate loans comprising, home improvement loans, and home equity loans and credit lines; consumer loans, including personal, motor vehicle, boat, recreational vehicle, home improvement, and home equity loans, as well as open-end credit lines and overdraft protection credit lines; and municipal financing products. In addition, i...

414 Church Street

Sandpoint, ID 83864

United States

Founded in 1997

271 Employees

Phone:

208-263-0505

Fax:

208-265-5295

Key Executives for Intermountain Community Bancorp

Chief Executive Officer
Age: 53
Chief Financial Officer
Age: 49
Vice President
Corporate Secretary and Senior Vice President of Trust & Wealth Management
Age: 55
Assistant Secretary
Age: 53
Compensation as of Fiscal Year 2014.

Intermountain Community Bancorp Key Developments

Intermountain Community Bancorp(NasdaqCM:IMCB) dropped from NASDAQ Composite Index

Intermountain Community Bancorp will be removed from the NASDAQ Composite Index.

Intermountain Community Bancorp Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Announces Net Charge Offs for the Second Quarter of 2014

Intermountain Community Bancorp announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total interest income was $8,182,000 compared to $8,514,000 for the same period a year ago. Net interest income was $7,405,000 compared to $7,563,000 for the same period a year ago. Net interest income after provision for loan losses was $7,408,000 compared to $7,316,000 for the same period a year ago. Net income before income taxes was $1,761,000 compared to $1,941,000 for the same period a year ago. Net income applicable to common stockholders $1,262,000 compared to $1,481,000 for the same period a year ago. Basic and diluted per share was $0.19 compared to $0.23 for the same period a year ago. Return on average assets was 0.55% compared to 0.84% for the same period a year ago. Return on average common stockholders' equity was 5.19% compared to 6.77% for the same period a year ago. Return on average common tangible equity was 5.19% compared to 6.77% for the same period a year ago. For the six months, the company reported total interest income was $15,939,000 compared to $16,842,000 for the same period a year ago. Net interest income was $14,379,000 compared to $14,906,000 for the same period a year ago. Net interest income after provision for loan losses was $14,280,000 compared to $14,480,000 for the same period a year ago. Net income before income taxes was $3,194,000 compared to $3,466,000 for the same period a year ago. Net income applicable to common stockholders was $2,296,000 compared to $2,548,000 for the same period a year ago. Diluted earnings per share were $0.34 compared to $0.39 for the same period a year ago. Return on average assets was 0.50% compared to 0.74% for the same period a year ago. Return on average common stockholders' equity was 4.81% compared to 5.85% for the same period a year ago. Return on average common tangible equity was 4.81% compared to 5.85% for the same period a year ago. Tangible book value per common share totaled $15.25 at June 30, 2014, $14.77 at March 31, 2014, and $13.38 at June 30, 2013, respectively. The company experienced net charge offs of $92,000 during the second quarter of 2014, compared to net chargeoffs of $11,000 in the first quarter of 2014 and net recoveries of $117,000 in the second quarter of 2013.

Intermountain Community Bancorp Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge Offs for the First Quarter of 2014

Intermountain Community Bancorp reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported net interest income of $6,974,000 compared to $7,343,000 a year ago. Net income before income taxes was $1,434,000 compared to $1,525,000 a year ago. Return on average assets was 0.45% compared to 0.65% a year ago. Return on average common stockholders' equity was 4.42% compared to 4.88% a year ago. Return on average common tangible equity was 4.42% against 4.89% a year ago. Net income applicable to common shareholders for the first quarter totaled $1.0 million, or $0.16 per common basic and diluted share, compared to net income applicable to common shareholders of $6.1 million, or $0.93 per common diluted share in the fourth quarter of 2013, and $1.1 million, or $0.16 per common diluted share in the first quarter of 2013. First quarter 2014 net interest income before provision totaled $7.0 million, down from $7.4 million and $7.3 million in the fourth and first quarters of 2013, respectively. The decrease from prior quarters reflects lower loan interest income as both loan balances and loan yield dropped modestly during the quarter. Book value per common share, excluding preferred stock was $14.77 against $13.85 a year ago. Tangible book value per common share, excluding preferred stock was $14.77 against $13.85 a year ago. For the first quarter of 2014, the company reported net charge offs was $10,000 compared to $557,000 and $444,000 for the fourth and first quarters of last year, respectively.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 23, 2014
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