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|Articles - April 2014|
|Thursday, March 27, 2014|
Page 1 of 3
BY BRANDON SAWYER
Terry E. Zink
President and CEO, Bank of the Cascades
Oregon Business: Bend was hit hard by the Great Recession. How did your bank survive?
Terry Zink: Probably as well as it could have. When Bend and surrounding areas went into a fairly deep recession, the bank was struggling to stay afloat. We ended up in 2011 getting recapitalized, and that helped enormously. We didn’t take any TARP money, so we didn’t get “bailed out” by the government. They felt that we were going to fail, and they weren’t going to take a chance. We were given up for dead, but thankfully we have a good management team in place now, and we were able to weather the storm.
OB: So the bank found investors to recapitalize?
TZ: Yeah, we had an infusion of capital in 2011, and it allowed the bank to get by. The regulators require you to maintain capital levels, and we would have drifted below what was considered safe. So it worked out very well for the bank, for the employees and for the shareholders.
OB: How does Cascade’s imminent merger with Idaho-based Home Federal Bank fit into your business strategy?
TZ: Prior to 2011, BOTC was a $2.5 billion bank, and with the crisis, the bank dropped down to about $900 million. But we still had the same credit facilities, the same processing capability — all that stuff was the same as when we were a much larger bank. What the merger does is allow us to right-size our infrastructure so we’ll go back to being a $2.5 billion bank. It’s like having a V-8 engine that’s only running on four cylinders. Now that you’ve got all the cylinders functioning together, it will perform at a much better level.
OB: Are more mergers likely down the road?
TZ: It’s difficult to survive if you’re under a billion dollars and you’re trying to keep up with all the regulations. We believe consolidation is going to continue to be a way of putting banks together. What our mission really is, is to get around $5 billion in size, be a strong player in the Pacific Northwest and be a community bank that people can count on. We’ll continue to look for ways to help the consolidation effort along, because it’s going to happen and banks are actually looking for partners. It isn’t the old days where everybody felt like they could operate independently.
OB: Technology continues to change the way people and businesses bank. Bitcoin is all the rage currently. What’s next?
TZ: The capability of doing P2P payments with mobile devices. I believe that checks will be a thing of the past in the next five years. About 80% of all the transactions that take place today are electronic, and that’s just going to continue to grow. The threats to banking today aren’t necessarily other banks; it’s really the Amazons of the world, the Walmarts of the world. Those are places where, depending on how things go, the pressure’s going to come from for the normal everyday transaction account.
Tuesday, September 08, 2015
BY LINDA BAKER
Alan Lehto, TriMet's director of policy & planning, shares a few thoughts on ride sharing and more nimble bus services.
Wednesday, August 19, 2015
BY LINDA WESTON
In 1996, after a 17-year career in the destination marketing industry, where I gained national standing as the CEO of the Convention & Visitors Association of Lane County, I was recruited by the founders of a new professional basketball league for women. The American Basketball League (ABL) hoped to leverage the success of the 1996 USA women’s national team at the Atlanta Olympics — much like USA Soccer is now leveraging the U.S. Women’s National Team’s victory in the World Cup. The ABL wanted a team in Portland, and they wanted me to be its general manager.
Wednesday, August 26, 2015
BY LINDA BAKER
A new co-working model disrupts office sharing, child care and work-life balance as we know it.
Thursday, October 01, 2015
PHOTOS BY JASON E. KAPLAN
Images from the big 2015 celebration of worker-friendly organizations that make a difference.
Monday, September 28, 2015
BY TIM NEVILLE
A Power Lunch at Zydeco Kitchen and Cocktails in Bend.
Thursday, September 10, 2015
BY KIM MOORE
Oregon is set to become a hub of a new type of wooden building design as a southern Oregon timber company becomes the first certified manufacturer of a high-tech wood product, known as cross-laminated timber, or CLT.
Thursday, October 08, 2015
BY LINDA BAKER
In an era dominated by self-promotion and marketing speak, John Bradley, CEO of R&H Construction, is a breath of fresh air.
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