Bend, Ore. (March 14, 2022) – Known for its People First. Community First. motto, Idaho First Bank (IFB) is a full-service state-chartered community bank that was established in 2005 and is headquartered in McCall, Idaho. It has quickly grown to six branches in Idaho and one loan production office in Bend, which opened in late 2020 and marked its first Oregon location. Considered a small-medium community bank, IFB holds around $500 million in assets and employs about 80 people.
We caught up with Zak Sundsten, VP, Commercial Relationship Manager for Idaho First Bank and EDCO Board Member to learn more about the local loan production office in Bend.
EDCO: Tell us more about Idaho First Bank and the Bend office.
Zak: Our focus and philosophy are to help our people and communities with various business and commercial real estate loans and banking resources. As a small bank, we’re proud to have the flexibility to be creative when it makes sense. Our Bend office serves primarily the Central Oregon area, but with the ability to serve all of Oregon. Currently, we have a team of five operating in Bend.
EDCO: Who can you help?
Zak: Our primary focus is on the small to medium size businesses in the Central Oregon area. We can be flexible on making projects work, but our perfect customer would be an established business that’s looking to grow, purchase equipment, and/or buy their own property. Most of our loans are for commercial real estate, both owner-occupied and investment properties. We’ve also provided loans to businesses to purchase equipment as well as credit lines for working capital.
EDCO: What attracted Idaho First Bank to Central Oregon?
Zak: Two things attracted us to Central Oregon. The first, IFB wanted to be in Oregon, and Bend represented a place with abundant opportunities and demand while providing our employees with a beautiful place to live and work. Secondly, the dedicated team that was ready to get Oregon operations off the ground was already in Bend and had a well-established network.
EDCO: What makes Idaho First Bank unique?
Zak: We know a lot of banks look and act very similar. Where banks can be different is their approach to solving an issue, or getting a transaction done. The way a loan is reviewed and approved can vary from bank to bank. Some banks are willing to be flexible and look at mitigating factors to make a deal work, and some aren’t. We believe we fit in the former category by being flexible with a can-do attitude.
EDCO: Any recent news you’d like to share?
Zak: You can follow all the latest and greatest news about Idaho First Bank on our news page. We are targeting June 1, 2022, to transition to a full-service branch and add at least one additional staff member.
EDCO: How do you support EDCO and why?
Zak: We love EDCO and want to continue supporting the organization’s efforts through membership, event attendance, and Board representation. We enjoy attending all the events as they provide great value. As an EDCO Board Member, we find many synergies in our combined work as EDCO provides Central Oregon new and existing businesses help to succeed. Further, we stand together in the focus to bring new industries to Central Oregon.
Contact Information for Bend Office:
Bend, Oregon (Loan Production Office)
1030 N.W. Bond Street #203
Bend, OR 97703
Lobby Hours: Mon-Fri, 9:00 am – 5:00 pm