Idaho Independent Bank Announces Appointment of Chief Executive Officer (“CEO”)

COEUR D’ALENE, Idaho, July 21, 2017 (GLOBE NEWSWIRE) -- Idaho Independent Bank (”IIB” or the “Bank”) (OTC Pink:IIBK), announced that Kurt R. Gustavel has been appointed as Chief Executive Officer of the Bank, effective January 1, 2018. Kurt Gustavel will succeed current CEO and Chairman of the Board, Jack W. Gustavel, who will continue as Executive Chairman of the Board of Directors in accordance with IIB’s management succession plan. “The Bank is executing on its ambitious long-term, strategic plan. The momentum is positive, and Kurt’s leadership has been a big part of IIB’s success. He has the experience and talent to take the Bank to the next level,” Jack said.

Kurt’s new title will be President and Chief Executive Officer. Kurt has over 26 years of banking experience. He joined IIB in 1994, was elected to the Bank’s Board of Directors in 2003, and was appointed President and Chief Operating Officer in 2005. Kurt holds a bachelors degree from the University of Idaho and is a 2004 graduate of the ABA Stonier Graduate School of Banking. He is currently active in the Young Presidents' Organization and serves as Treasurer of the Idaho Chapter.

About IIB

IIB was established in 1993 as an Idaho state-chartered, commercial bank that operates branches in Boise (3), Caldwell, Coeur d’Alene, Hayden, Meridian, Mountain Home, Nampa, Star, and Sun Valley/Ketchum, Idaho. IIB earned honorable mention as one of the Best Places to Work in Idaho through a survey conducted by Populus in 2016 & 2017, was named to’s Top 200 Healthiest Banks in America in 2015 & 2016, and was named among the top 1% most extraordinary banks in the U.S. by The Institute for Extraordinary BankingTM in 2016. The Bank has approximately 200 employees throughout the State of Idaho. To learn more about IIB, visit us online at

Statements contained herein concerning future performance, developments or events, expectations for earnings, growth and market forecasts, and similar statements that are not historical facts are intended to be “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995, and as such, are subject to a number of risks and uncertainties that may 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, declines in regional and general economic conditions; changes in interest rates, deposit flows, demand for loans, real estate values, competition, and/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 and the State of Idaho; 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 . Accordingly, these factors should be considered in evaluating forward-looking statements, and there should not be undue reliance placed on such statements. The Bank undertakes no responsibility to update or revise any forward-looking statements.

CONTACT: Jack W. Gustavel, Chairman & CEO 1260 W. Riverstone Drive, Coeur d’Alene, Idaho 83814 (208)292-1902

Source:Idaho Independent Bank