Saturday, September 1, 2012

Finance Department: Idaho Lenders Report More Income, Stronger Portfolios

Posted By on Sat, Sep 1, 2012 at 10:09 AM

Closing the books on Fiscal Year 2012, officials with the Idaho Department of Finance announced this past week that the department accepted more than 152,000 submissions for business filings, licenses and registrations, an increase of 2.3 percent over 2011.

"Despite slower-than-hoped-for growth nationwide, Idaho remains a desirable place to do busines," said Gavin Gee, IDF director.

Also in its year-end report card, the department pointed to no bank or credit-union failures in the Gem State during FY2012. Nationally, there were 75 bank failures and 11 credit-union failures during the fiscal year.

The average net income for all Idaho-based banks was $1 million as of June 30, compared to $135,000 as of June 2011. Additionally, the average amount of nonperforming loans for all Idaho-based banks decreased from $12 million as of June 2011 to $8.8 million this year.

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