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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.
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
Monday, July 14, 2014
BY VIVIAN MCINERNY | OB BLOGGER
Some people think Amazon’s winking eye logo is starting to look like a hoodwink.
Thursday, June 26, 2014
BY ERIC FRUTS | OB BLOGGER
Last year, the housing market in Oregon—and the U.S. as a whole—was blasting off. The Case-Shiller index of home prices ended the year 13% higher than at the beginning of the year. But, was last year a blip, or a trend?
Monday, June 16, 2014
The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.
Thursday, June 26, 2014
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
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Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.