Cascade Bancorp's Annual Results Puts It in Top 10% of Publicly Traded Banks

BEND, OR-Cascade Bancorp is reporting its annual result this week – results that rank it among the nation’s top performing public banks. Earnings per share for the year rose by 18% to $1.05, compared to 89 cents in 1999. Net income totaled $7.3 million, up 17.3% over 1999. Return on equity and return on assets continued to outperform its peer banks at 23.3% and 1.86% respectively.

Fourth quarter earnings per share were 29 cents, up 19.8% from the year-ago quarter. Fourth quarter net income was $2 million, up 20.2% from the same 1999 quarter. Loans and deposit growth in 2000 was 27% and 30%, respectively. The Company’s loan portfolio grew by $20 million during the quarter and $77 million for the year, its third consecutive year of loan growth above 25%.

The growth is in part due to a vibrant Central Oregon economy that resulted from Deschutes County — the company’s primary market — ranking No. 1 in the Northwest in rate of population growth in the past decade. Cascade operates nine banks in Central Oregon.