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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

INTERMOUNTAIN COMMUNITY BANCORP
(Name of Issuer)
NO PAR VALUE COMMON STOCK
(Title of Class of Securities)
45881M
(CUSIP Number)
DECEMBER 31, 2006
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     o Rule 13d-1(c)

     þ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
 
   Page  
2 
   of   
5 

 

           
1   NAMES OF REPORTING PERSONS:
WRAY D. FARMIN
   
  I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 
   
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
  (a)   o
  (b)   o
     
3   SEC USE ONLY:
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION:
   
  United States
       
  5   SOLE VOTING POWER:
     
NUMBER OF   424,020
       
SHARES 6   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   424,020
       
WITH: 8   SHARED DISPOSITIVE POWER:
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  424,020 (held by the Farmin Family LLP over which Mr. Farmin has sole voting and dispositive power; 256,982 registered on the Shareholder Records of IMCB; 167,038 held in brokerage account in street name)
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9):
   
  5.17%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
   
  IN

 

             
Item 1(a):   NAME OF ISSUER
 
            
    INTERMOUNTAIN COMMUNITY BANCORP
 
            
Item 1(b):   ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES
 
            
    231 N. Third Avenue, Sandpoint, Idaho 83864
 
            
Item 2(a):   NAME OF PERSON FILING
 
            
    WRAY D. FARMIN
 
            
Item 2(b):   ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
 
            
    11815 N. Waikiki Road, Spokane, WA 99218
 
            
Item 2(c):   CITIZENSHIP
 
            
    United States
 
            
Item 2(d):   TITLE OF CLASS OF SECURITIES
 
            
    No Par Value Common Stock
 
            
Item 2(e):   CUSIP NUMBER:45881M
 
            
Item 3:   If this statement is not filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person is filing is a:
 
            
 
  (a)   o   Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
 
            
 
  (b)   o   Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
 
            
 
  (c)   o   Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).
 
            
 
  (d)   o   Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
 
            
 
  (e)   o   An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E).
 
            
 
  (f)   o   An employee benefit plan or endowment fund in accordance with §240.13d-1(b).
 
            
 
  (g)   o   A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G).
 
            
 
  (h)   o   A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
 
            
 
  (i)   o   A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
 
            
 
  (j)   o   Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

 

             
Item 4:   OWNERSHIP
 
            
    Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
 
            
    (a)   Amount Beneficially Owned:

424,020
 
            
    (b)   Percent of Class

5.71%
 
            
    (c)   Number of Shares as to Which Such Person Has:
 
            
 
      (i)   Sole power to vote or direct the vote:
424,020
 
            
 
      (ii)   Shared power to vote or direct the vote:
0
 
            
 
      (iii)   Sole power to dispose or to direct the disposition of:
424,020
 
            
 
      (iv)   Shared power to dispose or to direct the disposition of:
0
Instruction. For computations regarding securities which represent a right to acquire an underlying security see §240.13d3(d)(1).
     
Item 5:
  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
 
    
 
  If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o.
 
    
 
  Instruction: Dissolution of a group requires a response to this item.
 
    
Item 6:
  OWNERSHIP OF NOT MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
 
    
 
  If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than five percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
 
    
 
  Not Applicable
 
    
Item 7:
  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED BY THE PARENT HOLDING COMPANY OR
CONTROL PERSON
 
    
 
  If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.

Not Applicable

 

 

     
Item 8:
  IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
 
    
 
  If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
 
    
 
  Not Applicable
 
    
Item 9:
  NOTICE OF DISSOLUTION OF GROUP
 
    
 
  Notice dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
 
    
 
  Not Applicable
 
    
Item 10:
  CERTIFICATION
 
    
 
  Not Applicable
SIGNATURE
     After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
         
 
  February 5, 2007    
 
       
 
  Date    
 
        
 
  /s/ Wray D. Farmin    
 
       
 
  Signature    
 
        
 
  Wray D. Farmin    
 
       
 
  Name/Title