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George Noorey
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George Noorey
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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

  • Brookswood Blvd CLOSED >< Pinebrook and Lodgepole Dr. (5/14 - 9/4)
  • Bradbury Way closed through September 9th.
  • Lane Closure on Portland Avenue from College Way to 9th Street (9/1-3)
  • Southbound Lane closed on Boyd Acres Rd near Ross Road [South end] (8/27-31)
 
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