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Author Archives: Simon Shifrin

Investors look at next big thing: Farmland (access required)

Farmland may be the new gold. Pension funds, foundations, endowments and other institutional investors are on the hunt for large tracts of land in Idaho and other states to find a safe haven for their money and a hedge against ...

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Micron pays down debt

Micron Technology Inc. announced a series of moves to reduce debt coming due over the next few years, taking advantage of thawing capital markets. The Boise-based chipmaker announced Oct. 28 that it would buy back a total of $266 million ...

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Glacier Bancorp reports $9.4M profit in third quarter

Glacier Bancorp reported a net profit of $9.4 million in the third quarter, but write-downs of problem assets and sluggish lending limited bigger gains. The Kalispell, Mont.-based bank holding company, parent of Idaho-based Mountain West Bank of Coeur d’Alene and ...

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Transmission line shifts away from historic Minidoka site (access required)

A 500-kilovolt transmission line, slated to cut through a World War II-era internment camp for Japanese-Americans, will now be set two miles west. LS Energy of New York City secured the rights to move the power line away from the ...

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Small banks struggle to raise capital; Syringa misses regulators’ deadline (access required)

Small struggling banks that need to clean up their balance sheets face no good options. “That’s why the key is to address it on the front end, having enough capital coming in and enough underwriting value,” said Keith Harvey, associate ...

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Banner Corp. posts $42M loss for the quarter (access required)

Banner Corp. reported a third-quarter net loss of $42.7 million, or 40 cents per share, driven by loan losses and investment write-downs. The Walla Walla-based holding company, parent of Banner Bank and Islanders Bank, set aside $20 million for loan ...

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Federal loan guarantee pushes transmission line ahead (access required)

An energy transmission line that will one day connect Idaho to Las Vegas is advancing with the help of a $350 million federal loan guarantee. The U.S. Department of Energy announced financial backing for the $510 million Nevada portion of ...

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Sterling Financial posts a profit in third quarter (access required)

Sterling Financial Corp. recorded a third-quarter profit as it reduced exposure to construction loans and finished a $730 million recapitalization. The Spokane-based bank holding company, parent of Sterling Savings Bank, reported $33.6 million in profit, or 2 cents per share, ...

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Zions Bancorp curbs losses in third quarter (access required)

Zions Bancorporation reined in losses in the third quarter as it resolved more problem loans and tallied a drop in delinquencies. The Salt Lake City-based bank holding company, parent of Zions First National Bank, reported a net loss of $80.5 ...

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