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Financial Services

Sunwest Bank closing downtown branch (access required)

A new face in Idaho banking is leaving downtown Boise. Sunwest Bank notified its customers on March 10 that it will close its branch and offices at One Capital Center at 10th and Main streets. Bank CEO and President Chris ...

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Two Boise credit unions set to merge (access required)

Boise U.S. Employees Federal Credit Union members on March 5 overwhelmingly approved a plan to merge with Icon Credit Credit Union, also based in Boise. The proposed merger would go into effect June 1, with Boise U.S. adopting Icon’s name. ...

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Idaho regulators are keeping an eye on Bitcoin (access required)

Leading financial regulators from nine states recently formed a task force to look into Bitcoin and other emerging payment systems. While Idaho Department of Finance Director Gavin Gee isn’t on that task force, organized by the Conference of State Bank ...

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Federal reform would make firms pay taxes on unrealized income (access required)

Many Idaho law firms would have to switch their accounting methods and pay taxes on income before the money actually is collected, if a proposed federal tax reform makes its way through Congress. The proposal – not yet incorporated in ...

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Banks target retailers for credit fraud losses (access required)

Like bankers across the country, Dan Price saw Mountain West Bank take a direct hit after security breaches at Target and other retailers in recent months. Mountain West had to replace about 2,800 credit and debit cards after it was ...

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U.S. Bank promotes Smith to regional president (access required)

Justin Smith is the new regional president for U.S. Bank in Western Idaho/Eastern Oregon, filling a top post that was vacated more than two months ago when former regional president Joel Hickman left the bank. Smith had been the senior ...

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Sunwest makes Syringa its 5th resuscitated bank (access required)

After federal regulators closed the failing Syringa Bank Jan. 31, Sunwest Bank was there to pick up the pieces and reopen Feb. 3, with vinyl Sunwest Bank signs draped over old Syringa Bank signs. The sign-swapping was a small part ...

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Proposed law would bring about Internet sales tax, but not in Idaho (access required)

Legislation headed for the U.S. House Judiciary Committee would help some states collect sales tax from online retailers, but Idaho doesn’t qualify to take advantage of the act’s provisions. The Marketplace Fairness Act, which passed the Senate last year, would ...

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