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Community 1st Bank reports record earnings in third quarter

POST FALLS — Community 1st Bank reported net income of $203,700 or $0.18 per share for the third quarter of 2017 compared to $0.14 from the same period in the prior year, which is a 27.6 percent increase.

Year-to-date earnings were $504,139 or $0.45 per share, an increase of $44,597 from the prior year earnings of $459,541 or $0.42 per share. Total assets at Sept. 30, 2017 were $124.2 million, an increase of $17.9 million or 16.8 percent from September 2016. This increase in assets was driven by a $14.4 million or 22.5 percent increase in loans, which totaled $78.6 million, up from $64.2 million as of Sept. 30, 2016.

The bank continues to manage funding costs by growing deposits which were $110.7 million at Sept. 30, 2017 and increase of $16.8 million or 17.7 percent from the prior year.

Community 1st continues to have no non-performing assets or loans more than 30 days past due. Tangible book value per share increased $0.50 to $11.05 as of period end compared to $10.55 as of Sept. 30, 2016.

The bank has received a five-star rating for seven consecutive years from Bauer Financial, an independent national recognized bank rating agency.

“2017 has continued to be an exceptional year with our continued organic growth. We have stuck to our founding principles of ‘Doing the Right Thing’ and taking great care of our customers in this competitive market,” said David Bobbitt, chairman and CEO for the bank. “We couldn’t be more pleased with the opportunities our new Sherman location has brought, while still continuing to grow earnings while absorbing the expansion expense. Business development has continued to be strong through our employees’ contributions in our community through volunteerism.”

Community 1st Bank is a state chartered commercial bank with branches in Post Falls and Coeur d’ Alene and a new office in downtown Coeur d’Alene, which serve the greater Kootenai County area.

For more information visit www.com1stbankid.com or call (208) 667-6060 Coeur d’ Alene or (208) 457-9610 Post Falls.

Herndon joins

HMH Engineering

HMH Engineering announced the addition of Jesse Herndon, P.E. who has joined the HMH team as a project manager.

Herndon is a professional engineer with more than 15 years of diverse civil engineering experience primarily focused in utility planning and design. He has managed consulting teams for municipal and private clients throughout the state of Idaho and will be heading up the Utility Department for HMH.

HMH Engineering is a North Idaho-owned company providing engineering and consulting services in the fields of land and site development, water and sewer engineering, material testing, GIS and surveying, and transportation engineering.

Bloem joins Century 21

Beutler and Associates

Sandi Bloem recently joined Century 21 Beutler and Associates.

Prior to real estate, Bloem worked in sales for more than 35 years. She has a degree in education from Utah State University. Bloem has served her community in numerous positions including mayor, member of the city’s planning and zoning commission, Chamber of Commerce board member and Salvation Army Kroc Center president.

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