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A big financial shot in the arm for Cascade Bancorp, which is the parent company for Bank of the Cascades. $177-million will be raised through a stock sale to private investors.  “It means a lot to our communities, our employees, our customers. It really positions the bank from a position of great financial strength to be able to grow and prosper in the community and to do what we want to do which is to be a community bank and provide better access to credit.” Cascade Bancorp CEO Patricia Moss says most of the sale is to four investors, with some minority investors in the mix.   She says this sale means Bank of the Cascades notably exceeds the benchmark for a "well capitalized bank.”   The bank will also perform a one for ten reverse stock split. That means ten shares of stock will be changed into one. That results in fewer shares and each share having a higher value.

 

Traffic & Weather

 

 

 

  • Lane closures and detours Mt. WA Dr at Shevlin Park Road North to Regency (7/11-11/30)

 

  • Road closures along Roosevelt Ave >< Silver Lake Blvd -Chamberlain St. 7a-5p (9/6-11/20)

 

  • Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July – November.
 
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