Last year was the best in the history for the 86-year-old Lewiston State Bank with earnings up 14.5 percent, which reflects a rate of earnings on total assets of 1.22 percent, according to Rex G. Plowman, president and chairman of the board.
He said total assets increased more than $4 million, a 9 percent increase, and deposits increase $3.5 million, also a 9 percent increase. Capital increased by $475,259 after adding $50,000 to bad debt reserves, which are now 1.85 percent of loans.The bank's financial condition was disclosed during the annual stockholders meeting when Verl M. Buxton, Cornish; Larry McKnight, Lewiston; Reed M. Merrill, Logan; Plowman, Lewiston; and Paul C. Woodward, Franklin, Idaho, were elected directors.
Dale M. Buxton was promoted from assistant cashier to cashier. Officers re-elected were Plowman; McKnight, senior vice president; Garr B. Morrison, senior vice president; and Anthony J. Hall, vice president.