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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

 

 

 

  • 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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