Corporate Profile

Shareholder Letters

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Panhandle State Bank began operations in 1981 to serve the local needs of Bonner County. The first branch opened in Sandpoint with the mission to invest the community's money back into the local economy. This remains our focus today.

In 1997, the shareholders of Panhandle State Bank voted in favor of forming a bank holding company and in 1998 Panhandle Bancorp became the official parent company of Panhandle State Bank. In 2000, the name of the holding company was changed to Intermountain Community Bancorp (IMCB) to more effectively represent all present and future markets and the company's focus on expanding its network of community banks.

As large banking institutions continue to move into Idaho, demand for local community banking increases across the state. In 1999, to meet this demand, Panhandle State Bank responded with a new division and name, Intermountain Community Bank (ICB), a Division of Panhandle State Bank, to accommodate expansion into southern Idaho. ICB currently operates branches in Caldwell, Nampa, Payette and Weiser, Idaho, and Ontario, Oregon. In 2006, a new ICB branch was added in Fruitland, Idaho. Panhandle State Bank (PSB) serves Coeur d'Alene, Post Falls, Rathdrum, Sandpoint, Bonners Ferry, Ponderay, and Priest River in northern Idaho. In 2006, a new branch was added in Kellogg, Idaho.

In November 2004, as the result of a successful merger with Snake River Bancorp, Inc., Intermountain Community Bancorp extended its operations into south central Idaho with branches operating as Magic Valley Bank (MVB), a Division of Panhandle State Bank, in Twin Falls and Gooding. In 2006, a second MVB branch was added in Twin Falls.

In 2005, the company's first branch in Washington State was established in Spokane Valley as Intermountain Community Bank (ICB), a Division of Panhandle State Bank, and in 2006 the Spokane Private Banking branch of ICB opened in downtown Spokane.

In addition to adding new branches in 2006, the company added a Trust and Wealth Management division, and purchased a small investment company now operating as Intermountain Community Investment Services (ICI).

In 2006, construction began on a new building in Sandpoint to house Panhandle State Bank's downtown banking location and IMCB corporate headquarters. The "Sandpoint Center" was completed in the spring of 2008. In addition to housing the branch and corporate headquarters, the building includes a three story atrium, restaurant, community learning center and office space for complementary businesses.

In 2012, IMCB raised $56 million in capital through a $47.3 million private placement to legacy shareholders and institutional investors, and $8.7 million in a Rights Offering to shareholders.