The Idaho Department of Finance (Department), with the cooperation of Trust and Estate Services Company of Idaho d/b/a TrESCo of Idaho (TrESCo), issued a Consent Order requiring TrESCo to comply with the statutory requirements of the Idaho Trust Institutions Act and no longer engage in unauthorized trust activity in Idaho. TrESCo agreed to either obtain a trust charter from the Department or remove itself as trustee or agent for all accounts that constitute unauthorized trust activity.

Patricia Perkins, Director of the Idaho Department of Finance, today announced the approval of a new
trust charter for Idaho Trust Company, a wholly owned subsidiary of Idaho Trust Bancorp.

The Idaho Department of Finance (IDOF) urges Idaho consumers to exercise heightened caution when purchasing cars, recreational vehicles, farm equipment, and other high-dollar items online. IDOF recently received several reports from victims of online purchase scams that risked losing thousands of dollars due to being lured into purchasing from a phony website or fake ads in various online marketplaces.

We extend our heartfelt gratitude to Patricia “Patti” Perkins for her many years of dedicated service to the Idaho Department of Finance. Appointed by Governor Brad Little as Director in January 2020, Patti brought exceptional leadership and vision to the Department.