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Financial Services

Supervalu 1Q earnings rise, top estimates

Supervalu Inc.’s turnaround efforts paid off in the first quarter as the grocery chain reported a 10 percent bump in net income and beat expectations, which sent its shares soaring July 26. The company, which operates Albertsons, Jewel-Osco and other ...

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Idaho road bonds sell in scant new-issue market (access required)

The fifth of six planned issues of Idaho bonds to pay for highway construction was well received July 12, when all $72.9 million sold. Idaho has seen fewer issues of tax-exempt bonds recently, and many are refinancings of existing debt, ...

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Wells Fargo adds jobs at Boise service center

Wells Fargo plans to hire 150 additional workers in July and August at its Boise customer contact center on Elder Street. The move will increase total staff at the center to about 600. The new hires will provide phone-based service ...

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Idaho pension fund posts record year (access required)

   Idaho’s public-employee pension fund posted its best fiscal year in 25 years, gaining 20.7 percent in value for the 12-month period ended June 30. This allowed the fund to recover all losses suffered during the recession and hit an ...

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Reverse-mortgage market tightens (access required)

The market for reverse mortgages is tightening, reducing the options of older Americans who want access to the equity in their homes. Fewer seniors have enough home equity to use some of their reverse-mortgage proceeds to pay off a traditional ...

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NAI Boise office could benefit from C-III deal (access required)

C-III Capital Partners’ planned acquisition of the NAI Global commercial real estate services company is expected to provide some additional business for NAI’s Boise affiliate. “The reason it’s good news for us is increased deal flow,” said Ron Stratton, Certified ...

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Banks look to women, minorities for loan growth (access required)

Banks will be hard-pressed to find a source of loan growth as the economy recovers. Housing led the economy out of past recessions but won’t do so this time, said Chris Loucks, Boise State University professor of economics. Large companies ...

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Banks slowly enter the landlord business (access required)

Lenders who are accumulating distressed properties are slowly entering the property rental business nationally and in Boise. Renting out bank-owned homes and apartments produces income and keeps the properties from deteriorating, say housing experts. Nationally, more single-family homes are being ...

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Credit unions oppose interchange limits, exemption (access required)

A federal move to cut debit-card fees isn’t sitting well with Idaho credit union leaders. They also oppose an exemption designed to help credit unions and small banks. Last year’s financial reform legislation called for cutting and capping the “interchange ...

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