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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

 

 

  • Click on the link for the latest conditions on the mountain passes.

 

  • Construction at 27th Street and Bear Creek Road and 27th near Medical Center Drive. Single lane 6a – 10p.

 

 
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