Cascade Bancorp released their 10-Q last week and things are surprisingly looking a lot better at the bank:
-Non-Performing Assets decreased almost 15% from last quarter as a few loans began to, once again, “perform.”
-Deposits grew almost 11% from the prior quarter.
-The company remained profitable in one of the worst financial environments our country has ever seen.
One quarter doesn’t make a trend but I think it bodes well for the local economy to see it’s largest local bank see at least a glimmer of daylight.
And the stock price has reflected a bit of this optimism. Since August the company’s stock price has significantly outperformed the rest of the financial sector: