Idaho Bancorp Reports Mid-Year Results

Today Idaho Bancorp (OTCBB: IDBC) reported net income for the first six months of 2007 of $738,000, a 20% increase over the $616,000 reported in the first half of 2006. Diluted earnings per share of $.40 compared favorably to the $.34 per share reported in the first half of last year.

The most significant factor driving the year-to-year earnings improvement was a 9% increase in net interest income, a result of a 16% growth in the average loan portfolio, and an increase of 18% in other non-interest income. Net interest margin decreased slightly from 4.43% in the first half of 2006 to 4.34% in the first half of 2007 as a result of increasing cost of funds and continued pressure on loan rates due to intense market competition.

Net income for the second quarter of 2007 was $345,000, a 6% increase over the $326,000 reported in the second quarter of 2006. Diluted earnings per share were $.19 per share, compared to $.18 per share in the same quarter last year.

Credit quality continues to be excellent. There were no nonperforming assets at June 30, 2007. The allowance for loan losses was 1.38% of total loans on June 30, 2007. Book value per share at June 30, 2007 was $9.15, an increase of 12% from the June 30, 2006 level.

"The second quarter of this year presented a challenging operating environment for our Bank," said Mike Johnston, President and CEO. "Although overall the Treasure Valley's economy remains strong, the slow down in single family residential sales affected volumes in both our residential construction and mortgage origination units. We've also experienced some net interest margin compression this quarter as a direct result of the increasing number of competitors emerging in the financial services sector in Ada and Canyon Counties. However we remain cautiously optimistic that 2007 will be another great year for our Bank's shareholders and employees."

Idaho Bancorp is the holding company of Idaho Banking Company. Idaho Banking Company, a state-chartered commercial bank and member of the Federal Reserve, was organized in 1996 and operates four branch offices, and a construction & mortgage home loan center. The Bank serves clients throughout southwestern Idaho.

                   Idaho Bancorp and Subsidiary
           Consolidated Financial Highlights (unaudited)
             (Dollars in thousands, except per share)



For the six months ended June 30:  2007       2006    $ Change   % Change
                                ---------  ---------  ---------  ---------
     Net interest income        $   4,475  $   4,102  $     373          9%
     Provision for loan losses         40        220       (180)       -82%
     Mortgage banking income          333        501       (168)       -34%
     Other noninterest income         264        224         40         18%
     Noninterest expense            3,920      3,724        196          5%
     Net income before taxes        1,112        883        229         26%
     Income taxes                     374        267        107         40%
     Net income                       738        616        122         20%

     Earnings per share
          Basic                      0.41       0.35       0.06         17%
          Diluted                    0.40       0.34       0.06         18%

At June 30:                        2007       2006    $  Change  % Change
                                ---------  ---------  ---------  ---------
     Loans                      $ 177,890  $ 161,058  $  16,832         10%
     Allowance for loan losses      2,456      2,258        198          9%
     Assets                       231,650    216,651     14,999          7%
     Deposits                     188,581    176,576     12,005          7%
     Shareholders' equity          16,683     14,732      1,951         13%
     Nonperforming loans                0          0          0        N/A
     Other real estate owned            0          0          0        N/A

     Book value per share            9.15       8.20       0.95         12%
     Shares of common stock
      outstanding               1,823,722  1,796,850     26,872          1%

     Allowance to loan ratio         1.38%      1.40%
     Allowance to nonperforming
      loans                           N/A        N/A
     Nonperforming loans to
      total loans                    0.00%      0.00%

Averages for the six months
 ended June 30:                    2007       2006    $  Change  % Change
                                ---------  ---------  ---------  ---------
     Loans                      $ 174,727  $ 150,130  $  24,597         16%
     Earning assets               211,309    190,064     21,245         11%
     Assets                       223,334    201,665     21,669         11%
     Deposits                     182,806    159,119     23,687         15%
     Shareholders' equity          16,415     14,532     1, 883         13%

For the six months ended June 30:
     Return on average assets        0.67%      0.62%
     Return on average equity        9.07%      8.55%
     Average loans to deposits      95.58%     94.35%
     Net interest margin - tax
      equivalent                     4.34%      4.43%
     Net loan charge-offs
      (recoveries)                      3        (23)
     Net charge-offs
      (recoveries) to loans          0.00%     -0.03%





                          Idaho Bancorp and Subsidiary
           Quarterly Consolidated Financial Highlights (unaudited)
                     (Dollars in thousands, except per share)


                               2007 Q2  2007 Q1  2006 Q4  2006 Q3  2006 Q2
                               -------  -------  -------  -------  -------
Net interest income            $ 2,277  $ 2,198  $ 2,297  $ 2,288  $ 2,185
Provision for loan losses           30       10        0      140      160
Mortgage banking income            136      197      233      231      226
Other noninterest income           131      133      130      138      117
Noninterest expense              1,995    1,925    2,077    1,978    1,876
Net income before taxes            519      593      583      539      492
Income taxes                       174      200      191      177      166
Net income                         345      393      392      362      326

Earnings per share
    Basic                         0.19     0.22     0.22     0.20     0.18
    Diluted                       0.19     0.21     0.21     0.20     0.18

Average loans                  177,699  171,723  168,428  165,755  158,930
Average earning assets         216,409  206,152  210,018  204,802  198,582
Average assets                 228,472  218,140  221,942  216,575  210,649
Average deposits               188,822  176,722  182,953  176,920  175,582
Average shareholders' equity    16,632   16,197   15,714   15,282   14,931

Return on average assets          0.61%    0.73%    0.70%    0.66%    0.62%
Return on average equity          8.32%    9.84%    9.90%    9.40%    8.76%
Average loans to deposits        94.11%   97.17%   92.06%   93.69%   90.52%
Net interest margin - tax
 equivalent                       4.28%    4.39%    4.40%    4.50%    4.48%

Nonperforming loans - period
 end                           $     -  $     -  $     -  $     -  $     -
Other real estate owned -
 period end                          -        -        -        -        -
Loans - period end             177,890  175,100  171,188  172,623  161,058
Allowance for loan losses -
 period end                      2,456    2,435    2,419    2,413    2,258
Net charge-offs (recoveries) -
 quarterly                           9       (6)      (6)     (15)     (12)

Allowance to loans                1.38%    1.39%    1.41%    1.40%    1.40%
Allowance to nonperforming
 loans                             N/A      N/A      N/A      N/A      N/A
Nonperforming loans to total
 loans                            0.00%    0.00%    0.00%    0.00%    0.00%
Net charge-offs to loans -
 annualized                       0.02%   -0.01%   -0.01%   -0.04%   -0.03%

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