There’s a new player in the crowded downtown Yakima banking scene Business

As the calendar flips from July to August, another chapter in Yakima’s downtown bank history begins — the return of a former Yakima bank executive.

Idaho Falls-based Bank of Idaho, 424 E. Yakima Ave. It closed five HomeStreet Bank locations on July 29, including a downtown branch.

Bank of Idaho has purchased HomeStreet locations in Sunnyside, Dayton, Kennewick and Spokane.

Leading the move is Bank of Idaho President and CEO Jeff Newgard, who previously served in that role at Yakima National Bank.

Newgard helped facilitate a similar transition nine years ago, when Yakima National and Seattle-based Fortune Bank merged in 2010. When you shop at HomeStreet Bank in 2013. Yakima National locations in Yakima, Selah, Sunnyside and Kennewick become part of the HomeStreet network, as well as in Seattle.

Fast forward to 2022, and Newgard’s five East Washington Home Street locations are ideal for Bank of Idaho. The acquisition was announced in May, and the process of transitioning the banks to the new network went smoothly, he said.

“We couldn’t be happier with the transition,” Newgard said. “Employees on both sides of this deal have been going the extra mile to ensure the customer experience is as seamless as possible.”

Kari Palmer, Yakima Avenue site branch manager, confirmed the situation will reduce customer impact as employees at all five branches will continue to work at each location.

Newgard said the acquisition is an attractive endeavor because Eastern Washington is similar to Idaho in its small-town sensibility for agriculture and local businesses.

“The people of Idaho and the people of Eastern Washington are connected by our values ​​and our way of life,” he said when the agreement was announced. “We jumped at the opportunity to serve people who understand and appreciate our community-first approach to banking. As a result, our combined footprint creates stronger opportunities for everyone.”

Bank of Idaho opened 37 years ago with headquarters in central Idaho Falls and has expanded to include 11 full-service locations and five mortgage offices throughout the state of Idaho.

Many banking options in the city center

The new Bank of Idaho branch is one of 14 full-service banks within a mile of Yakima Avenue (right next door).

Beginning at Fifth Avenue and moving east to Natchez Avenue, a variety of local, regional, and national banks are based downtown, including:

• Solarity Credit Union, 110 N. Fifth Ave.

• Columbia Bank, 10 N. Fifth Ave.

• Banner Bank, 502 W. Yakima Ave.

• US Bank, 404 W. Yakima Ave.

• Heritage Bank, 301 W. Yakima Ave.

• Cashmere Valley Bank, 127 W. Yakima Avenue

• Wells Fargo, 101 E. Yakima Ave

• Key Bank, 102 E. Yakima Ave

• Northwestern Mutual, 117 E. Yakima Ave.

• Yakima Federal Savings & Loan, 118 E. Yakima Ave.

• Wheatland Bank, 201 E. Yakima Ave

• Chase Bank, 211 E. Yakima Ave.

• Bank of Idaho, 424 E. Yakima Ave.

• West Bank, 522 E. Yakima Ave.

Many of these locations include driveways, ATMs, and lobbies. Like QuickStop at 702 W. Yakima Ave. and 7-Eleven at 801 E. Yakima Ave. There are also several businesses with ATMs inside.