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Town Hall Meetings Called to Create Community-Based Economic Stimulus Plans

^{Published on 2009-02-20 16:32:19, Last Modified on 2009-02-20 16:33:33 - Market Wire}
 

SANDPOINT, Idaho--([ BUSINESS WIRE ])--Intermountain Community Bancorp (OTCBB:IMCB) invites the input of community and business leaders in the development of an exciting new initiative: Powered by Community. A team of the Bank's top executives will travel throughout its banking regions to present the overall plan, to take direction and suggestions, and to recruit volunteer partners.

Powered By Community is designed to bring together resources from within communities to create grassroots-based economic stimulus through education, job development and training, affordable and workforce housing projects, and other priorities. The bank plans to provide the start-up funding and leadership to leverage broad support from local stakeholders.

Each community will determine its needs and its plan of action through the involvement of volunteer leadership and bank liaisons. Ultimately, IMCB hopes that multiple local businesses will join the effort.

Town Hall Meetings will begin on March 2 in Post Falls, Idaho, and will conclude in Nampa, Idaho on March 19 after stops in Rathdrum, Coeur d'Alene, Bonners Ferry, Priest River, Sandpoint, Spokane, Kellogg, Twin Falls, Gooding and Payette. IMCB CEO Curt Hecker and IMCB Community Development President Rick Youngblood will lead the discussions. "We're hoping for lively forums, and encourage ideas and participation from the community," Hecker says. "We can only be successful together."

Venue size limits the number of individuals who can be accommodated, and as the bank anticipates great interest in the plan, invitations to these first meetings will be extended to leaders in the business and social services community. The general public will also be invited to provide input and to participate in specific projects as those are developed.

Hecker states that IMCB is committed to developing 100 new programs with the help of 1000 volunteers. 100% of the bank's staff will be engaged in this effort.

This is not a new direction for IMCB, Hecker says. "Our bank has always been very engaged in community programs. Powered by Community represents a new level in bank commitment in both time and financial resources. It's also a fresh approach to channeling communities' insights and energy to make the most reliable and dramatic impact on our economy."

About Intermountain Community Bancorp: Intermountain is headquartered in Sandpoint, Idaho, and operates as four separate divisions with twenty banking locations in three states. Its banking subsidiary, Panhandle State Bank, offers financial services through northern Idaho offices in Sandpoint, Ponderay, Bonners Ferry, Priest River, Coeur d'Alene, Post Falls, Rathdrum and Kellogg. Intermountain Community Bank, a division of Panhandle State Bank, operates branches in southwest Idaho in Weiser, Payette, Nampa, Caldwell and Fruitland, as well as in Ontario, Oregon. Intermountain Community Bank Washington, a division of Panhandle State Bank, operates branches in downtown Spokane and Spokane Valley, Washington. Magic Valley Bank, a division of Panhandle State Bank, operates branches in Twin Falls and Gooding, Idaho.

IMCB's shares are listed on the OTC Bulletin Board, ticker symbol IMCB.OB.

Additional information on Intermountain Community Bancorp, and its Internet banking services, can be found at [ www.intermountainbank.com ].

This news release contains forward-looking statements within the Private Securities Litigation Reform Act of 1995.Such forward-looking statements may include but are not limited to statements about the Company's plans, objectives, expectations and intentions and other statements contained in this report that are not historical facts.These forward-looking statements are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond the Company's control.Actual results may differ materially from the results discussed in these forward-looking statements because of numerous possible risks and uncertainties.These include but are not limited to:the continued adverse economic developments that may, among other things, increase default and delinquency risks in the Company's loan portfolio; shifts in interest rates that may result in lower interest rate margins; shifts in the demand for the Company's loan and other products; lower-than-expected revenue or cost savings in connection with acquisitions; changes in accounting policies; changes in the monetary and fiscal policies of the federal government; and changes in laws, regulations and the competitive environment.