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CASCADE BANCORP

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2017 10-Q, filed May 5, 2017. Its latest SEC filing is a 15-15D from Jun 26, 2017.

The sections below describe the company as of the FY2016 annual report.

What Did They Do?

Provides commercial and retail banking services—including loans, deposit accounts and trust services—to businesses and public organizations, professionals, and consumers.

How Did They Make Money?

Earns interest on loans, securities and other interest-earning assets, less interest paid on deposits and borrowings; it also earns deposit service charges and income from customer card activity.

FY2016 revenue

Who Were Their Customers?

The Bank serves small- and medium-sized businesses and public organizations, professionals, and consumers with loans and deposit services, delivered through its branches and online banking.

Did Revenues Turn Into Profits?

Yes. It kept 18 cents of every revenue dollar as net income in FY2016 and turned 26 cents into free cash flow.

Net income, FY2016
18% of revenue
▼ −19% vs FY2015 ($20.6M, 26%)
Free cash flow, FY2016
26% of revenue
▼ −33% vs FY2015 ($36.9M, 46%)

How Were They Changing?

Since the FY2016 annual report
Latest quarter: Q1 FY2017, the three months to Mar 31, 2017
Revenue
▲ +13%
vs $22.7M in Q1 FY2016
Net income
▲ +249%
vs $1.9M in Q1 FY2016
  • May 25, 2017 Shareholders approved merger with First Interstate Both companies’ shareholders approved the merger; closing was expected May 30, 2017, subject to customary conditions.
  • Mar 27, 2017 First Interstate received its last required regulatory approval Completion remained subject to shareholder approval and other customary closing conditions.

Grew. Revenue grew 74% in 4 years, from $54.9M in FY2012 to $95.3M in FY2016, about 15% a year.

Expanded market footprint The latest report includes Seattle-area markets in addition to Oregon and Idaho; the older report described operations in Oregon and Idaho.

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