Sponsored by Energy Trust

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

Political Clout

November/December 2014
Wednesday, October 22, 2014
BY KIM MOORE

Businesses spend billions of dollars each year trying to influence political decision makers by piling money into campaigns.


Read more...

Justice for All

January-Powerbook 2015
Thursday, December 11, 2014
BY JESSICA RIDGWAY

Lawger upends the typical hourly based fee model by letting clients determine the cost.


Read more...

Dan and Louis Oyster Bar opens up to a changing neighborhood

The Latest
Thursday, December 11, 2014
121114-oystervidBy MEGHAN NOLT

VIDEO: Revamping a Classic — an iconic eatery stays relevant in a changing marketplace.


Read more...

I Know How You Feel

November/December 2014
Wednesday, October 22, 2014
BY JESSICA RIDGWAY

Most smartphones come equipped with speech recognition systems like Siri or Cortana that are capable of understanding the human voice and putting words into actions. But what if smartphones could do more? What if smartphones could register feeling?


Read more...

Fly Zone

November/December 2014
Wednesday, October 22, 2014
BY JOE ROJAS-BURKE

The black soldier fly’s larvae are among the most ravenous and least picky eaters on earth.


Read more...

The short list: 5 companies making a mint off kale

The Latest
Thursday, November 20, 2014
kale-thumbnailBY OB STAFF

Farmers, grocery stores and food processors cash in on kale.


Read more...

Election Season

November/December 2014
Wednesday, October 22, 2014

We didn’t intend this issue to have an election season theme. But politics has a way of seeping into the cracks and fissures.


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