BEND, Ore., Oct. 26 /PRNewswire-FirstCall/ -- The Board of Directors of Cascade Bancorp approved payment of a $.10 per share quarterly cash dividend, an increase of 11% over the prior quarter's dividend. This regular dividend is payable on November 16, 2007, to shareholders of record as of November 9, 2007.
"In an environment of slowing real estate activity that triggered recent turmoil on Wall Street, Cascade continues to deliver solid financial results," said Patricia L. Moss, President and CEO. Accordingly, the directors are pleased to increase the cash dividend payment and continue a solid dividend return to our shareholders.
Cascade Bancorp (headquartered in Bend, Oregon) and its wholly-owned subsidiary, Bank of the Cascades, operates in Oregon and Idaho markets. Founded in 1977, Bank of the Cascades offers full-service community banking through 33 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley. The Bank has been rated among the top performing banks in the nation for the ninth consecutive year by Independent Community Bankers of America, as well as being named the 2007 top community bank in the Northwest by US Banker Magazine. The Bank is honored to be among the top 40 "Best 100 Companies to Work For in Oregon, 2007," compiled by Oregon Business Magazine. For further information on Bank of the Cascades, please visit our web site at http://www.botc.com/.
