Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Bank Of The Cascades Says Returns To Profitability - Quick Facts

RELATED NEWS
Trade CACB now with 

Bank of the Cascades, a wholly-owned subsidiary of Cascade Bancorp (CACB: Quote), announced a return to profitability.

For the first quarter of 2012 Cascade Bancorp recorded net income of $1.1 million. Total deposits at the end of the first quarter of 2012 were stable compared to 2011 year-end, while the loan portfolio declined in the period compared to 2011 year-end due to continued payoffs and pay-downs of loan balances.

Cascade Bancorp also increased its reserve for loan losses as of the first quarter of 2012 to $44.0 million or 5.04% of outstanding loans. The year-ago 2011 first quarter net income was $31.0 million, which included a $32.8 million after-tax extraordinary gain on extinguishment of the Cascade Bancorp's junior subordinated debentures; excluding this gain, the net loss for the first quarter of 2011 was approximately ($1.8) million.

The company also announced that Daniel Lee has been appointed to serve as Executive Vice President and Chief Credit Officer of Cascade Bancorp and Bank of the Cascades. Lee brings over thirty years of banking and financial expertise, including executive positions with a number of organizations. He most recently served as Executive Vice President at a $2 billion bank in Indianapolis, Indiana.

Register
To receive FREE breaking news email alerts for Cascade Bancorp Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
This apparel maker has doubled its earnings per share in just two years and increased its annual earnings forecast from time to time, despite a challenging consumer spending environment. Contributions from acquisitions, efficiency gains from self-owned global supply chain and benefits from 'Innovate-to-Elevate' strategy continue to boost the company's results. Here is a quick summary of the earnings reported after the bell on Nov 20. We have 20+ stocks listed here. The good news is you can skip this step. There is a next move that can make your life a lot easier. Our research team has already done the groundwork for you. All these stocks listed... Design software maker Autodesk, Inc. said Thursday after the markets closed that its third quarter profit fell 81% from last year, as higher costs and expenses more than offset an 11% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.