Coeur d’Alene Bancorp, a three-branch bank in North Idaho, is opening a fourth branch in Post Falls this summer, funded through a $5 million private placement.
The state-chartered bank was founded in 2001 and has assets of $130 million.
“95% of our loan portfolio is businesses,” such as constructing buildings and buying equipment, saids CEO Wes Veach.
After last year’s acquisition by First Interstate BancSystem of Community 1st Bank, based in Post Falls, and Idaho Independent Bank, based in Coeur d’Alene, Coeur d’Alene Bancorp –branches of which are called bankcda – is the only independent bank in the region, Veach said.
Those acquisitions have helped raise its profile, Veach said.
“We definitely have people who want to bank at a smaller bank where they can talk to the president, and where we make decisions here in Coeur d’Alene, where we drive by their project every day,” he said.
With the First Interstate acquisition, decisions about Coeur d’Alene loans are being made in Seattle, Veach said. That’s not for everybody, he said.
“We are not all things for all people,” he said. “We know what we do well, and we do it.”
In addition to Post Falls, bankcda has branches in downtown Coeur d’Alene, Kellog and Hayden, Veach said. He was planning to open a branch in Post Falls anyway, but the acquisitions provided an added benefit. The 1,500-square-feet branch is located near Northwest Specialty Hospital. Veach added that he may build others in Coeur d’Alene or Spokane.