Idaho Independent Bankâ€™s Chairman and CEO, Jack W. Gustavel, announced that U.S. Banker Magazine’s June edition ranked his bank number 68 in the nation of approximately 1,100 public banks and thrifts with less than $2 billion of assets as of December 31, 2008. According to the press release, IIB was the only Idaho bank with significant operations to be named.
Mr. Gustavel stated, “IIB is proud to receive this national recognition as a leader in community banking. Management and the employees of IIB are to be commended for their hard work and dedication. Our senior management team has more than 275 years of combined banking experience, and though we are not immune to the effects of a deteriorating economy and a difficult real estate market, this award is a validation of IIB’s common sense lending philosophy and sound banking practices.
“IIB has a strong commitment to Idaho and community banking, and we have worked hard to earn the continued trust and confidence shown by our loyal customers and shareholders,â€ he added. â€œBy being disciplined and adhering to good banking practices, IIB’s capital, reserves, and long-term performance ratios continue to rank near the top despite the many challenges facing our industry.”