COEUR D'ALENE, Idaho, Sept. 25, 2006 (PRIMEZONE) -- Jack W. Gustavel, Chairman and Chief Executive Officer of Idaho Independent Bank (IIB), announced today that the Board of Directors of IIB has declared a two-for-one stock split payable to shareholders of record as of November 1, 2006 (the "Record Date"). The two-for-one stock split will be effected in the form of a 100 percent share dividend under which shareholders as of the Record Date will receive one additional share of stock for each share owned. The additional shares will be distributed on or about November 29, 2006.
Mr. Gustavel stated that the stock split is being declared in recognition of IIB's financial performance and growth over the past year. "This is just another way in which shareholders are benefiting from IIB's growth and success," Gustavel said. "As has been our experience since our founding in 1993, IIB continues to perform at a high level. We plan to celebrate the 10-year anniversary of the opening of our Boise Main Branch on October 25, and the grand opening of our new Ketchum/Sun Valley Branch facility is planned for October 26. In addition, IIB's new Boise River Branch, located at Fifth and Front in downtown Boise, is currently under construction with completion scheduled for summer 2007."
About IIB
IIB was established in 1993 as an Idaho state-chartered, commercial bank and currently operates branches in Boise (2), Meridian, Coeur d'Alene, Nampa, Mountain Home, Hayden Lake, Caldwell, Star, and Sun Valley/Ketchum, Idaho. IIB has approximately 200 employees throughout the state of Idaho. IIB's Common Stock is traded on the OTC Bulletin Board under the symbol IIBK. To learn more about IIB, visit us online at http://www.theidahobank.com
The Idaho Independent Bank company logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1275
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.