Cascade Bancorp reports profit

Cascade Bancorp reports profit

Bend-based Bank of the Cascades' parent company Cascade Bancorp brought in a net income of $1.8 million in the third quarter.

The modest gain comes on the heels of similar reports in the first two quarters, bringing the bank’s year-to-date net income to $4.6 million.

The bank reported net losses of $21 million through the first three quarters of last year, driven largely by a bulk sale of $110 million in bad loans in September 2011.

Read more at The Bend Bulletin.

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