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Bank of Idaho to Purchase Five Branches from HomeStreet Bank, Expand Service Into Eastern Washington

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Bank of Idaho to Purchase Five Branches from HomeStreet Bank, Expand Service Into Eastern Washington


IDAHO FALLS, Idaho & SEATTLE–(BUSINESS WIRE)–Financial institution of Idaho Holding Co. (OTCQX: BOID) (“BOID”), the holding firm for Financial institution of Idaho, along with HomeStreet, Inc. (Nasdaq: HMST) (“HomeStreet”), the dad or mum firm of HomeStreet Financial institution, in the present day introduced that HomeStreet Financial institution and Financial institution of Idaho have executed a definitive settlement beneath which Financial institution of Idaho will purchase from HomeStreet Financial institution an Japanese Washington department community, together with the branches’ lending enterprise and workers.

BOID will prolong its department footprint by buying 5 branches in Spokane, Kennewick, Dayton, Yakima, and Sunnyside.

“Financial institution of Idaho’s roots serving communities throughout the western panorama make it an ideal slot in Japanese Washington,” Financial institution of Idaho President and CEO Jeff Newgard stated. “Our shared values – and lifestyle – shall be a consolation to all our clients, who will expertise nice service, enhanced alternative and dedication to group Financial institution of Idaho is understood for in our new, united footprint.”

“This sale permits HomeStreet to focus our retail banking department technique on the bigger metropolitan markets within the western United States,” stated HomeStreet Financial institution President, CEO and Chairman Mark Ok. Mason. “We’re assured that Financial institution of Idaho will proceed to supply our Japanese Washington department clients with the wonderful service and group focus they’ve come to count on. Jeff Newgard, who was beforehand the President and CEO of Yakima Nationwide Financial institution, has a confirmed observe file of excellence in banking within the Japanese Washington markets. Groups of workers from each HomeStreet and Financial institution of Idaho are collaborating to make sure a seamless transition for our Japanese Washington clients and the group.”

It’s anticipated that the transaction will shut on or earlier than August 1, 2022 topic to customary regulatory software processes and approvals. Financial institution of Idaho and HomeStreet are dedicated to working carefully collectively to help purchasers in the course of the transition and meet all shopper customer support wants by way of the completion of the transaction.

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MJC Companions, LLC, served because the unique monetary advisor to BOID. Stinson LLP served as counsel to Financial institution of Idaho Holding Co.

About Financial institution of Idaho Holding Co.

Financial institution of Idaho has been a monetary fixture within the jap Idaho group since 1985, when the unique location opened in downtown Idaho Falls on the nook of Capital and B Avenue. Later increasing to incorporate 10 full-service areas, and 4 mortgage workplaces throughout the state. Inventory for the Financial institution of Idaho Holding Firm opened to public buying and selling on the OTC-QX market beneath the image BOID October 2019. With group development all the time a primary precedence, Financial institution of Idaho focuses on small companies and is a frontrunner in SBA lending. For extra info, please go to https://www.bankofidaho.com.

About HomeStreet, Inc.

HomeStreet, Inc. (Nasdaq: HMST) is a diversified monetary companies firm headquartered in Seattle, Washington, serving shoppers and companies within the Western United States and Hawaii. The Firm is principally engaged in actual property lending, together with mortgage banking actions, and industrial and shopper banking. Its principal subsidiaries are HomeStreet Financial institution and HomeStreet Capital Company. HomeStreet Financial institution is the winner of the 2022 “Greatest Small Financial institution” in Washington Newsweek journal award. Sure details about our enterprise will be discovered on our investor relations site, situated at http://ir.homestreet.com. HomeStreet Financial institution is a member of the FDIC and is an Equal Housing Lender.

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About MJC Companions, LLC

MJC Companions, LLC is a number one Los Angeles-based boutique funding banking and advisory agency offering a full vary of strategic, transactional and valuation-related companies to purchasers throughout a number of trade teams with a deal with monetary companies. For extra details about MJC Companions, go to www.mjcpartners.com.

Ahead Trying Statements

This press launch could include forward-looking statements throughout the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Change Act of 1934, as amended, regarding HomeStreet, Inc., HomeStreet Financial institution, Financial institution of Idaho Holding Firm, and Financial institution of Idaho and their operations, efficiency and chance of success. Financial institution of Idaho Holding Co. and Financial institution of Idaho (collectively, the “Firm”) and HomeStreet, Inc. and HomeStreet Financial institution (collectively “HomeStreet”) intend for such forward-looking statements to be coated by the protected harbor provisions for forward-looking statements contained within the Non-public Securities Litigation Reform Act of 1995. Future occasions are troublesome to foretell, and the expectations described above are essentially topic to threat and uncertainty which will trigger precise outcomes to vary materially and adversely. Ahead-looking statements are primarily based on many beliefs, assumptions, estimates and expectations of our future efficiency, considering info at present out there to us. Such statements contain inherent dangers and uncertainties, lots of that are troublesome to foretell and are typically past HomeStreet’s and Financial institution of Idaho’s management. You need to take into account, amongst different issues, the chance components included in our periodic experiences filed with the Securities and Change Fee, together with however not restricted to our most up-to-date Annual Report on Kind 10-Ok for the primary quarter of this yr. Ahead-looking statements converse solely as of the date made, and we don’t undertake to replace them to mirror adjustments or occasions that happen after that date. Neither BOID nor HomeStreet is liable for any statements or disclosures concerning any occasion apart from HomeStreet, Inc. and HomeStreet Financial institution or Financial institution of Idaho Holding Firm and Financial institution of Idaho, because the case could also be, that could be contained on this press launch.

Neither BOID nor HomeStreet undertakes any obligation to publicly revise these forward-looking statements to mirror subsequent occasions or circumstances.

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Idaho

Meridian family displaced after massive house fire

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Meridian family displaced after massive house fire


MERIDIAN, Idaho — A house fire in Meridian displaced a family of four after Meridian Fire says an explosion shattered neighbors’ windows and engulfed the home in flames Monday evening.

Tonight, the family is being housed by the Meridian Burn-Out Fund.

Meridian Fire says an investigation into the cause is underway.

Idaho News 6 is on scene and working to learn more.

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The theme to Governor Little's State of the State Address was Keeping Promises

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The theme to Governor Little's State of the State Address was Keeping Promises


BOISE, Idaho — The State of the State is the Governor’s chance to set goals for this year’s session. The theme of Governor Brad Little’s 2025 State of the State Address was Keeping Promises.

After congratulating the legislators on their recent elections, Governor Little didn’t waste any time getting right into the topic of education. “We are the leader in education freedom,” he said.

Governor Little said the State will continue to prioritize first and foremost our public schools. “Adequately funding public schools is both our constitutional and our moral obligation and we will not abandon that obligation. We have significantly improved teacher pay and health benefits, increased funding for literacy, and began to address the longstanding facilities needs in schools across Idaho.”

The Governor recognized the growing desire to expand school choice, especially for students with unique physical or developmental conditions, and announced he would recommend 50 million dollars to further expand education options for Idaho families. Little said. “Just like we do with every taxpayer dollar that is spent in government, we will ensure there is oversight in school choice. Why? Because accountability in government is an Idaho value, and it is what taxpayers demand and deserve, ” Little said.
 
Probably the longest round of applause came when the Governor said the state has kept our promises to Idahoans by standing sense values…and that Idaho was the first state to take action to defend women’s sports. “I was incredibly proud of the Boise State woman’s volleyball team for standing up for what’s right, ” Little said. “Generations have worked hard to guarantee our girls, and women can play fair and square. To our female athletes, we will continue to fight for you.” The women’s volleyball team canceled games against San Jose State because of a transgender athlete.

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Idaho News 6 will continue to bring you gavel-to-gavel coverage of the 2025 Legislative session.





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Idaho Antimony Mine Finally Receives Final Permit

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Idaho Antimony Mine Finally Receives Final Permit


As President Joe Biden’s remaining days in office count down with many of his top energy and environmental priorities remaining unfulfilled, his regulators managed to publish a final record of decision (ROD) related to a major Idaho mining operation targeting the production of antimony, a key mineral integral to batteries and other aspects of green energy. The decision comes amid a rising trade war between the United States and China as the Biden Administration prepares to leave office.

On Friday, the U.S. Forest Service approved the final permit necessary for the Stibnite Mine, operated by Perpetua Resources, to proceed to production after a permitting process that consumed well over a decade. “I have taken into consideration the degree to which the (mine’s) environmental design features, monitoring, and mitigation measures will, where feasible, minimize adverse environmental impacts on (federal lands),” the Forest Service’s Matthew Davis said in a report published along with the permitting decision.

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The Conclusion Of A Long, Complex Permitting Process

Perpetua estimates the mine will be able to provide as much as 35% of the nation’s antimony needs once it becomes fully operational in 2028. The mine will also produce a substantial amount of gold, which was the original target of the Stibnite mine when it was first opened in 1927. The mine was later re-tooled and was able to produce about 90% of U.S. antimony needs during World War II.

The additional gold production will serve to enhance the mine’s revenue stream, but in today’s world, antimony is the main prize being sought by Perpetua in its efforts to reopen a mine that has been inactive since it was shut down in 1996. In addition to its applications related to renewable energy, antimony is also integral to the production of tungsten steel and is used in a wide variety of other military applications.

The military considers access to domestic stores of antimony such a critical need that it contributed $60 million to help fund the permitting effort of the Stibnite Mine, the total cost of which was estimated to come in at a whopping $1.3 billion in 2020. That number will have likely risen substantially due to the high rates of inflation and supply chain issues that have run epidemic over the last four years.

The project was opposed by Idaho’s Nez Perce Tribe, which expressed concerns the mine could impact the state’s salmon population. The mitigation plans for the mine were modified at several points in response to Nez Perce concerns.

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China’s Antimony Export Restrictions

The last-minute approval of the final ROD by the Biden Forest Service comes a month after China’s government invoked restrictions on the export of antimony and two additional critical energy minerals, gallium and germanium, in response to enhanced U.S. semiconductor export controls specific to China. It was the third such crackdown by the Biden government in the past three years. The timing is critical given that the U.S. relies on imports for the vast majority of its antimony needs.

Anticipating a positive outcome to this permitting process, Perpetua Resources announced in December the execution of a non-binding agreement with Sunshine Silver Mining & Refining to explore the potential for the domestic processing of the antimony recovered from the Stibnite mine.

“We are thrilled to receive our Final Record of Decision from the Forest Service,” said Jon Cherry, President and CEO of Perpetua Resources said Monday in a release. “This approval elevates the Stibnite Gold Project to an elite class of projects in America that have cleared NEPA. The Stibnite Gold Project can deliver decisive wins for our communities, the environment, the economy, and our national security.”

Judy Nissula, Mayor of nearby Cascade, Idaho, said she was pleased by the final decision. “Perpetua Resources has been part of our community for more than a decade. During this time, they’ve shown us the type of company they are. They’ve invited us to provide feedback, answered our questions, supported causes that matter to our community and looked for ways to partner with local businesses and provide well-paying jobs for Valley County residents.”

Perpetua estimates the mining operation will provide “substantial environmental and economic benefits to the region,” including “more than one billion investment dollars and an average of 550 jobs.”

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The Bottom Line

In light of the growing trade war with China related to energy minerals, it is difficult to overestimate the importance of this final permitting decision. The successful outcome for Perpetua Resources is especially impressive given the complex nature of the federal, state, and local permitting process, as well as the work involved in satisfying the concerns of local communities and the Nez Perz Tribe.

The federal government has for more than 40 years been very reluctant to permit the opening of domestic mining operations. It will need to permit many more such mines if this energy transition is going to continue to move forward.



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