Boise, ID – February 15, 2010 – (RealEstateRama) — Based on recently released national fourth-quarter financial performance statistics, Idaho-based financial institutions are not immune from the effects of the recession. Gavin Gee, director of the Idaho Department of Finance, reported that Idaho-headquartered commercial banks have experienced increased amounts of non-current loans and loan charge-offs, an increase in foreclosed real estate properties and, as a group, negative earnings for the year. In his budget presentation to JFAC this morning, Gee said, “Our Idaho financial institutions are caught in an economic upheaval that they did not create, one caused by a culture of risk carried out by large money center institutions, not traditional lenders like those we have in Idaho.
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