FirstBank NW Corp. in Clarkston, Wash., said Friday that strong loan growth boosted earnings last quarter.
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Net income rose 41.9%, to $2.2 million, in the quarter that ended Dec. 31, the third of its fiscal year, the $825 million-asset thrift company said.
Net loans grew 15.2%, to $611.1 million, mostly on demand for construction loans in Boise, Idaho, and commercial real estate loans there and in Coeur d'Alene, Idaho, and Spokane.
FirstBank said Feb. 1 that the investment group Crescent Capital VI LLC of Bellevue, Wash., wants to buy it for about $112 million. The thrift company said its board will evaluate the Crescent proposal "and other alternatives" with help from advisers.
