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Lars Larson
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Lars Larson
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Local News


It’s a big moment for the Bank of the Cascades. Thursday, shareholders will hold a special meeting in part to vote on a plan to issue $177 million in company common stock to private investors. A "yes" vote from shareholders means that the Bank of the Cascades would be among the best capitalized community banks in the nation.  That's according to a recent statement by CEO Patty Moss. As of Thursday morning, thousands of proxy votes have been counted and the final vote will be held at 5:00 p.m.  Parent company, Cascade Bancorp recently announced the $177 million capital raise with four leading investors.  Moss says closing this deal would mean that the banks’ capital ratios would notably exceed regulatory agency benchmarks of a well capitalized bank. A recent report from the FDIC shows that the Bank of the Cascades has the largest amount of the deposits in Deschutes County, at 29%.

 

Traffic & Weather

 

 

 

King Solomon Lane closed between Ferguson Road and King David. (7/25)

 

Jones Road closed between Butler Market Road and Bennington Lane. (8/18)

 

Round-About Construction:

 

Murphy Road and Parrell Road closed with detours. (9/30)

 

Powell Butte Highway at Neff and Alfalfa Market Roads (8/31)

 
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