Home Archives April 2008 Cascades’ stock plummets

Cascades’ stock plummets

| Print |  Email
Tuesday, April 01, 2008

BEND Bank of the Cascades, the third-largest bank headquartered in Oregon, saw its stock price drop to its lowest level in five years in March after more than doubling its forecast for fourth-quarter 2007 credit losses from $7.5 million to $15.6 million.

The Bend-based bank profited mightily from a recent boom in residential real estate, and now it is scrambling to cope with the subsequent bust. “As we navigate through this challenging downturn in the real estate market, we will continue to monitor our loan portfolio and take appropriate measures to reserve against the risks posed,” said CEO Patricia L. Moss in a statement that accompanied the bank’s Feb. 21 announcement of the losses.



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

 

More Articles

Fuel's gold

March 2014
Tuesday, February 25, 2014
BY SOPHIA BENNETT

The coastal town of Coos Bay appears poised to land every economic development director’s dream: a single employer that will bring hundreds of family-wage jobs and millions in tax revenue. 


Read more...

From the Editor: The human factor

March 2014
Tuesday, February 25, 2014

In this issue, we celebrate our 21st annual 100 Best Companies to Work For in Oregon project.


Read more...

Why I became an educator

News
Tuesday, March 04, 2014
03.04.14 thumbnail teachBY DEBRA RINGOLD | GUEST CONTRIBUTOR

How can we strengthen the performance of institutions charged with teaching what Francis Fukuyama calls the social virtues (reciprocity, moral obligation, duty toward community, and trust) necessary for successful markets and democracy itself?


Read more...

Revolution in print, pixels and passion

News
Tuesday, March 11, 2014
RyanFrankNewsBY MARK BLAINE | OB BLOGGER

The publisher of the Emerald Media Group moves on, leaving a cutting edge media group that depends on business acumen for its survival.


Read more...

Green eyeshades in the ivory tower

News
Friday, April 04, 2014
EducationCosts BlogBY ERIC FRUITS

The rapidly rising cost of higher education has left even the smartest researchers and the wonkiest of wonks wondering what’s happening and where’s all that money going. More and more, prospective students—and their families—are asking: Is college worth the cost?


Read more...

Barrister bands

March 2014
Tuesday, February 25, 2014
IMG 4691BY LINDA BAKER

An intellectual property attorney by day, 48-year-old Stoll Berne attorney Tim DeJong is a singer and guitarist by night.


Read more...

The more they change, the more they stay the same

March 2014
Tuesday, February 25, 2014
100-best-collageBY BRANDON SAWYER

The 100 Best Companies get more creative with perks and more generous with benefits; employees seek empowering relations with management and coworkers.


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