Published March 2006
up 21 percent
Net income was a record $13.0 million in 2005, with diluted earnings per share growing to $1.32, compared to $10.8 million and $1.16 in 2004, according to the bank.
In the quarter ended December 2005, net income increased 21 percent to $3.4 million, or $0.35 per diluted share, compared to $2.8 million, or $0.29 per diluted share, in the fourth quarter of 2004.
Banner Bank offers
The service, a result of a partnership with Mortgagebot LLC, is designed to help potential borrowers research and apply for loans with ease, 24 hours a day, seven days a week, the bank said.
Wells Fargo to
The Federal Stafford Loan is a low-interest, government-guaranteed loan for both undergraduate and graduate students. Borrowers normally pay an origination fee — 3 percent of the loan’s principal — to the government. With this new offering, Wells Fargo will pay the origination fee on the students’ behalf.
New Wells Fargo Federal Stafford Loans guaranteed on or after April 1, 2006, will be eligible for the zero percent origination fee savings.
The parent company of Prime Pacific Bank reported fourth-quarter profits of $237,000, up from $123,000 in 2004. On a per-share basis, profits grew to 20 cents, from 11 cents.
For the full year, Prime Pacific reported a profit of $747,000, up 31 percent over 2004’s profit of $570,000. Earnings per share grew to 63 cents, from 49 cents.
Oak Harbor-based Washington Banking Co. reported it ended the year with a profit of $9.5 million, up 53 percent from $6.2 million profit in 2004. On a per-share basis, earnings grew to $1.26 from 83 cents, adjusted for a 4-for-3 stock split in May.
North County Bank
Also, the bank has applied for a branch to be located at 5006 132nd St. SE, in the Snohomish area and right across the street from the Mill Creek city limits.
Construction of the new branch is expected to be completed in late summer.
© 2006 The Daily Herald Co., Everett, WA