By Laura Kostad
Inland Northwest Bank opened its first permanent Tri-City branch last month in Kennewick.
The bank has been conducting business in the Tri-Cities since September in a temporary office at 1350 Spaulding Ave. in Richland while construction was completed on a new 2,000-square-foot office in Center Vision Clinic’s new building at 8127 W. Grandridge Blvd.
Inland Northwest Bank signed a long-term 10-year lease for the Center Vision office. Work to remodel it totaled about $350,000. It opened June 5.
The Spokane-based bank has been eyeing the booming Tri-Cities market for some time, said Jason Miller, director of marketing and culture at INB.
INB recently announced a merger with CenterPointe Community Bank, headquartered in Hood River, Oregon.
With approximately $770 million in assets, the combined company will expand INB’s community banking services into the Columbia River Gorge. CenterPointe operated three branches in the Columbia River Gorge.
The transaction is expected to close in the third quarter of 2017.
CenterPointe Community Bank had $131.1 million in total assets, $89.3 million in gross loans and $117.5 million in total deposits.
The acquisition will be INB’s second, as it acquired Bank of Fairfield in October 2015.
INB operates 11 branches in Eastern Washington, a branch in Central Washington and three branches in northern Idaho.