POST FALLS - Post Falls-based Community 1st Bank reported a net income for the third quarter of $190,367, or 18 cents per share, a 144 percent increase compared to $78,042 (7 cents) during the third quarter last year.

"The improvement is the highest level since our founding in June 2007," said David Bobbitt, CEO and board chairman. "The board and I are particularly pleased with the earnings growth, which have been driven by strong loan and deposit growth."

Total loans for the quarter increased 13.4 percent to $57.1 million. Total deposits increased 14.7 percent to $83.3 million.

"This growth is a validation of our original business plan to continue to grow market share in Kootenai County and become one of the region's leading community banks," Bobbitt said.

Credit quality continues to improve, with the ratio of non-performing to total assets decreasing to .2 percent, down from 1.02 percent in the previous year's period.

"This performance is a clear reflection of our continuing commitment to provide credit opportunities for our local communities while remaining the strong credit culture that is our history," said Jerry Lyon, president, COO and chief credit officer.

Total assets grew 13.8 percent to $94.2 million, compared to $82.8 million a year ago.

Community 1st Bank has about 70 shareholders and 90 percent of them are from Kootenai County or Liberty Lake. The bank has a branch in Coeur d'Alene.