BOISE, Idaho, April 21, 2006 (PRIMEZONE) -- Idaho Independent Bank (OTCBB:IIBK) and Brighton Corporation announced today the start of construction on a new six-story Idaho Independent Bank Building in downtown Boise. A groundbreaking ceremony will take place Friday, April 21, 2006, at 11:00 a.m. The new building, to be located at 401 West Front Street, will be Idaho Independent Bank's (IIB) eighth branch in the Treasure Valley. IIB's full-service branch, commercial lending offices, and drive-thru will occupy the ground floor, while the second floor will house IIB administrative offices. IIB plans to provide full-service banking, including personal and business loans and deposits, cash management services, safe deposit boxes, drive-thru banking, courier services, etc. In addition, the new building will offer commercial and office space on the remaining four floors. The 84,386 square foot project is scheduled to be completed by May of 2007.
Those attending the groundbreaking ceremony will include Kurt Gustavel, President of IIB, members of IIB's Board of Directors, Principals from Brighton Corporation, Boise Mayor Dave Bieter, Idaho Department of Finance Director Gavin Gee, and Nancy Vannorsdel, Boise Chamber of Commerce President.
"We are happy to expand our presence in downtown Boise with this new exciting project in order to better serve our growing customer base in the Treasure Valley," Gustavel said. "Establishing a second location in downtown Boise is a natural progression of our strategy to be The Idaho Bank," Gustavel added. "Our community bank philosophy of local decision making with a full-service product line is continuing to fuel our growth in Idaho, and the Idaho Independent Bank Building will enhance IIB's presence in this prominent, growing area of Boise."
About Idaho Independent Bank
IIB was established in 1993 as an Idaho state-chartered, commercial bank and currently operates ten branches in Boise (2), Meridian, Coeur d'Alene, Nampa, Mountain Home, Hayden Lake, Caldwell, Ketchum/Sun Valley, and Star, Idaho. IIB has approximately 190 employees throughout the state of Idaho. IIB's Common Stock is traded on the NASDAQ OTC Bulletin Board under the symbol IIBK. To learn more about IIB, visit online at www.theidahobank.com
The Idaho Independent Bank company logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1275
About Brighton
Brighton Corporation has served the Treasure Valley for more than three decades with commercial projects including the Boise Research Center, C.W. Moore Plaza, Victory Business Center, Ustick Marketplace, along with 12th Avenue Place and Karcher Crossing, both Nampa. In addition, the company has developed more than 4,000 individual homesites in various Treasure Valley communities, including Harris Ranch, Ashford Greens, Hobble Creek, The Hickories, Heritage Commons, and Paramount. To learn more about Brighton Corporation, visit online at www.brightoncorp.com
Forward Looking Statements
Statements contained herein concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and any other guidance for future periods constitute forward-looking statements within the meaning of the Private Securities Reform Act of 1995, and as such, are subject to a number of risks and uncertainties that might cause actual results to differ materially from expectations or our stated objectives. Factors that could cause actual results to differ materially include but are not limited to: changes in regional or general economic conditions; changes in interest rates, deposit flows, demand for loans, real estate values, competition, or loan delinquency rates; changes in accounting principles, practices, policies, or guidelines; changes in legislation or regulations; changes in the regulatory environment; changes in monetary policy of the Federal Reserve Bank; changes in fiscal policy of the Federal government; changes in other economic, competitive, governmental, regulatory and technological factors affecting operations, pricing, products, and services; material unforeseen changes in the liquidity, results of operations, or financial condition of the Bank's customers; and other risks detailed from time to time in the Bank's filings with the Federal Deposit Insurance Corporation. Accordingly, these factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Bank undertakes no responsibility to update or revise any forward-looking statements.