BOISE, Idaho, Jan. 20, 2005 (PRIMEZONE) -- Idaho Independent Bank (IIB) (Nasdaq:IIBK) plans to open a branch in Star, Idaho. Kurt R. Gustavel, President and Chief Operating Officer, announced that IIB has submitted a branch application to the Federal Deposit Insurance Corporation (FDIC) and the State of Idaho Department of Finance.
The branch will be located at the corner of Star Road and State Street in the Idaho Independent Bank Plaza. The Star Branch will be IIB's tenth branch and seventh in the Treasure Valley.
"This is great news for the City of Star and for Idaho Independent Bank. I look forward to helping make both a success," said the Mayor of Star, Nathan Mitchell. "The city looks forward to being the first IIB account in Star."
IIB plans to provide full-service banking, including personal and business accounts, cash management services, safe deposit boxes, drive thru banking, courier services, etc. "Establishing a branch in Star is a natural progression of our strategy to be The Idaho Bank(r)," Gustavel said. "We see tremendous opportunities in this growing market that we feel can best be served by an Idaho institution such as IIB."
The office is expected to open this spring and will employ between four and six full-time employees.
About IIB
IIB was established in 1993 as an Idaho state-chartered, commercial bank and currently operates nine branches in Boise (2), Meridian, Coeur d'Alene, Nampa, Mountain Home, Hayden Lake, Caldwell, and Ketchum/Sun Valley, Idaho. IIB has approximately 175 employees throughout the state of Idaho.
IIB's Common Stock is traded on the NASDAQ OTC Bulletin Board under the symbol IIBK. To learn more about IIB, visit them online at www.theidahobank.com.
Statements contained herein concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and any other guidance for future periods constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995, and as such, are subject to a number of risks and uncertainties that might cause actual results to differ materially from expectations or our stated objectives. Factors that could cause actual results to differ materially include but are not limited to: changes in regional or general economic conditions; changes in interest rates, deposit flows, demand for loans and mortgages, real estate values, competition or loan delinquency rates; changes in accounting principles, practices, policies or guidelines; changes in legislation or regulations; changes in other economic, competitive, governmental, regulatory and technological factors affecting operations, pricing, products and services; changes in the regulatory environment; changes in monetary policy of the Federal Reserve Bank; changes in fiscal policy of the Federal government; material unforeseen changes in the liquidity, results of operations, or financial condition of the Bank's customers; and other risks detailed from time to time in the Bank's filings with the Federal Deposit Insurance Corporation. Accordingly, these factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Bank undertakes no responsibility to update or revise any forward-looking statements.
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