Message #3 From:
NewsBot Date: September 11, 2006 04:12:00 PM
IMCB News Panhandle State Bank Announces Acquisition of Premier Financial Services
SANDPOINT, Idaho--(BUSINESS WIRE)--Sept. 11, 2006--Panhandle State Bank announces that it has acquired Premier Financial Services, a private investment firm located in Priest River, Idaho. Panhandle State Bank is the banking subsidiary of Intermountain Community Bancorp (OTCBB:IMCB).
As of September 1, 2006, Premier Financial Services began doing business as Intermountain Community Investment Services (ICI), a division of Panhandle State Bank.
This merger builds on a long-term existing relationship between the two financial companies. Both the mission and the staff of Premier Financial will remain in place under the terms of the merger. As a new division within the Intermountain Community Bancorp family of services, ICI will continue its relationship with its broker-dealer, Linsco/Private Ledger. Operations will continue from all current offices and locations.
"Our clients will be served by the same staff that they have grown to know and trust," says Trudy Leen, Vice President and General Manager, Intermountain Community Investment Services. "There will be no direct impact on existing accounts.
"We look forward to providing an even broader range of services for current and future customers."
Ms. Leen was formerly the sole principal of Premier Financial Services. She has accepted the operational responsibility for the new division, bringing thirty years of experience in banking and investments to her new role within Panhandle.
Curt Hecker, CEO of Panhandle State Bank and Intermountain Community Bancorp, is pleased to welcome the additions to the organization. "We're excited to offer the talents of the Intermountain Community Investment Services team through Panhandle State Bank and its divisions. Trudy Leen, her staff, and our collective customer base put us in a strong position to improve and expand our joint delivery of financial services and investment advice to our customers throughout all communities we serve. Further, ICI and our Trust and Wealth Management division improve our service offerings by adding well over 100 new financial solutions for our existing and prospective customers. We look forward to this division's growth in 2006 and beyond."
About Intermountain Community Bancorp
Intermountain is headquartered in Sandpoint, Idaho, and operates as four separate divisions with nineteen banking locations in three states. Its banking subsidiary, Panhandle State Bank, offers financial services through offices in Sandpoint, Ponderay, Bonners Ferry, Priest River, Coeur d'Alene, Post Falls, Kellogg and Rathdrum in northern Idaho. Intermountain Community Bank, a division of Panhandle State Bank, operates branches in southwest Idaho in Weiser, Fruitland, Payette, Nampa and Caldwell as well as in Ontario, Oregon. Intermountain Community Bank Washington, a division of Panhandle State Bank, now has two locations in the Spokane area in Washington. Magic Valley Bank, a division of Panhandle State Bank, operates two branches in Twin Falls and one branch in Gooding, Idaho. Intermountain Community Bancorp stock is traded on the OTC Bulletin Board under ticker symbol IMCB. For additional information regarding Intermountain, please visit our website at www.intermountainbank.com.
