Home Back Issues October 2008 Oregon banks continue slide

Oregon banks continue slide

| Print |  Email
Archives - October 2008
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

OB Video: Oregon MESA

News
Thursday, June 26, 2014

ThumbOregon Business hosts an informal roundtable discussion about the Oregon MESA (Mathematics, Engineering, Science Achievement) program.


Read more...

Charged ride

June 2014
Thursday, May 29, 2014
0614launchBY JESSICA RIDGWAY

Brad Baker, CEO and co-founder of Works Electric, is a good husband. His wife, an OHSU employee, sought a more efficient way to commute up Marquam “Pill” Hill, so she asked Baker to build a transportation solution.


Read more...

The barber is back

June 2014
Thursday, May 29, 2014
BY MIKE GREEN

An old profession is new again.


Read more...

The 100 Best Green Workplaces in Oregon

June 2014
Tuesday, May 27, 2014

GreenLogoOregon is known for its green-minded citizens, and many workers are attracted to firms and organizations that practice green, not just pay lip service to it.


Read more...

The Scott Kveton affair

News
Wednesday, July 09, 2014
ScottKvetonBY 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.


Read more...

Why I became an Oregon angel investor

Guest Blog
Monday, July 14, 2014
AngelInvestBY TERRY "STARBUCKER" ST. MARIE

I really didn’t know that much about angel investing, but I did know a lot about the entrepreneurial spirit.


Read more...

Liquid gold

June 2014
Thursday, May 29, 2014
BY JENNIFER MARGULIS

Don Gentry navigates Klamath Basin water rights.


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