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Financial Services

Federal gov’t sends $5M in housing help to Idaho

The federal government is sending an additional $5 million to Idaho to help neighborhoods hurt by the foreclosure crisis. U.S. Housing and Urban Development Secretary Shaun Donovan announced the additional funding Sept. 8 to help communities acquire foreclosed properties for ...

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Idaho investors look for more angels (access required)

The co-founder of Idaho’s first angel investment fund wants to create another half dozen million-dollar pots of cash over the next few years in a bid to transform the financing infrastructure for early-stage companies in the state. Kevin Learned, co-founder ...

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Sterling Financial completes $730M capital infusion

Sterling Financial Corp. appears ready to get out from under the thumb of federal regulators now that it’s finished raising $730 million from investors. The Spokane-based holding company, parent of Sterling Savings Bank, has raised more money than regulators wanted ...

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Wells Fargo CEO: Don’t blame banks for not lending

Wells Fargo CEO John Stumpf says banks shouldn’t take the blame for not loaning money even though his bank’s total loan values have been tumbling. He told a Boise audience Aug. 17 that the problem is a lack of demand. ...

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Sterling Savings completes merger with Golf Savings

Sister banks Sterling Savings and Golf Savings are merging, parent company Sterling Financial Corp. announced Aug. 4. Sterling Financial, a Spokane-based holding company that has been rocked by failing loans to residential and commercial developers over the past two years, ...

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Tamarack survives bankruptcy; questions remain a year later (access required)

Cyndi Bonetti is amazed at the number of times she’s asked about the status of Tamarack resort. “People walk in and automatically assume because the resort is going through bankruptcy that the place is full of weeds and mothballed,” she ...

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Boise ice cream company files for bankruptcy (access required)

Novelty ice cream producer Matterhorn Group Inc., with Idaho ties, has filed for Chapter 11 bankruptcy. According to court documents, the case was filed on July 26, in Sacramento, Calif. In 2005, the Caldwell-based Matterhorn Ice Cream Company merged with ...

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Minnick crafts bill to avert commercial loan collapse (access required)

Idaho Rep. Walt Minnick, hoping to fend off a looming wave of commercial loan defaults and a continuing decline in real estate prices, was preparing to introduce a bill July 22 that aims to avoid catastrophe for banks, property owners ...

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