Sponsored by Oregon Business

Oregon banks continue slide

| Print |  Email
Wednesday, October 01, 2008

BankStockChart

STATEWIDE In the March issue of Oregon Business we quoted the Beatles in regard to the recent fortunes of Oregon-headquartered banks: “It’s getting better all the time (can’t get much worse).”

Unfortunately, it can always get worse, and for most local banks, it has. The Dalles-based Columbia River Bancorp swung to a loss in the second quarter, causing executives to bite the bullet with voluntary pay cuts and to shut down the bank’s mortgage business in September, eliminating 70 jobs.

That’s not the only bad news. Income is down and nonperforming assets are up for Cascade Bancorp of Bend and West Coast Bancorp of Lake Oswego. Premier West Bancorp of Medford and the largest bank headquartered in Oregon, Umpqua Holdings, are both paying the price for backing residential construction in California.

The chart above shows Sept. 2007-Sept. 2008 year-over-year drops in stock prices for the six major public banks headquartered in Oregon. Third-quarter results for 2008, due out in mid-October, will be closely studied for signs of improvement, such as the recent announcement by Umpqua that its residential real estate loans bucked the trend by increasing during the first half of 2008.         

BEN JACKLET


Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

 

More Articles

Can small be large?

Linda Baker
Wednesday, April 01, 2015
040115-lindablogthumbBY LINDA BAKER

Leaders in Oregon's ag sector gathered this morning in Portland’s Coopers Hall winery/taproom to discuss the role of the region as an export gateway, impediments to exporting products and solutions to containerized shipping challenges.


Read more...

Cache and Curry

March 2015
Monday, February 23, 2015
BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Power Lunch at Swagat in Hillsboro.


Read more...

City announces plans for Portland summer-league baseball team

News
Tuesday, March 10, 2015
IMG 3888BY JACOB PALMER | OB DIGITAL NEWS EDITOR

Baseball is returning to Portland and city officials are hoping economic opportunity comes with it.


Read more...

Money Talks

March 2015
Saturday, February 21, 2015
BY LINDA BAKER | OB EDITOR

Will community banks survive the digital age? Three CEOs peer into banking's crystal ball.


Read more...

How a Utah-based essential oils company cornered the Oregon market

March 2015
Friday, February 20, 2015
BY AMY MILSHTEIN | OB CONTRIBUTOR

Multilevel marketing, health claims and zyto scanner biofeedback machines: How dōTERRA thrives in Oregon. 


Read more...

5 ways successful people kickstart the day

The Latest
Thursday, April 02, 2015
coffeethumbBY JACOB PALMER | DIGITAL NEWS EDITOR

Are mornings the most productive part of the day?  We ask five successful executives how they get off to a good start.


Read more...

Green Rush: Cashing in on legal marijuana

March 2015
Friday, February 20, 2015
BY COURTNEY SHERWOOD | OB CONTRIBUTOR

Marijuana is big business in Oregon, and it’s about to get bigger.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS