Cascade Bancorp has been selected as a participant in the S&P SmallCap 600 Index and the Davidson 99 Regional Index.
According to a recent FORBES article, Standard and Poor's Small-Cap 600 index has returned 53% over the past three years versus a 28% return for its larger counterpart, the S&P 500. The Standard & Poor's SmallCap 600 is one of the preferred small-cap indexes in the U.S., covering approximately 3-4% of the domestic equities markets. When considering companies for inclusion in the index, Standard & Poor's Index Committee looks at five main criteria: liquidity, ownership, company financials, sector representation and market capitalization. As such, companies must have a market capitalization between $300 million and $1.5 billion, a public float of at least 50% and four consecutive quarters of positive net income on an operating basis. Analysts reporting to Thomson IBES expect the smaller index to continue to outpace the index of bigger stocks over the next two years.
The Davidson 99 Regional Index, managed by the NW investment firm D.A. Davidson & Co., consists of 99 stocks from companies operating in Colorado, Idaho, Montana, Oregon, Utah, Washington, and Wyoming. The securities included in the Davidson 99 Regional Index are selected based on the companies' market capitalization, importance within their sectors and importance within the states they represent. The index is designed to reflect the broad performances of these companies, allowing tracking of regional market trends.
Patricia L. Moss, president & CEO, commented, "It is an honor to be selected to join the ranks of stable, successful regional and national publicly-traded companies. Our continuing success is thanks to the work with a remarkable team of bankers who share a commitment to developing a company specifically designed to deliver the best in banking to our customers and communities in Oregon and Idaho."
Cascade Bancorp (headquartered in Bend, Oregon) and its wholly-owned subsidiary, Bank of the Cascades, have a business strategy that focuses on delivering the best in community banking for the financial well-being of customers and shareholders. The Bank implements its strategy by combining outstanding service, competitive financial products, local expertise and advanced technology applied for the convenience of customers. Founded in 1977, Bank of the Cascades offers full-service community banking through 33 branches, including 11 in Central Oregon, four in the Salem/Keizer area, five in Southern Oregon and one office in Portland. The Company recently acquired F&M Holding Company operating Farmers & Merchants State Bank. Farmers & Merchants, a Bank of the Cascades Company, has 12 branches serving the Boise, Idaho/Treasure Valley market. The Company's combined assets now exceed $2 billion.
Cascade Bancorp has been rated among the top performing banks in the nation for the eighth consecutive year by Independent Community Bankers of America as well as in rankings by US Banker Magazine. In addition, The Seattle Times named Cascade Bancorp in the top tier of the annual Northwest 100 ranking of all publicly traded companies in the Pacific Northwest, and it was among the top 20 "Best Companies to Work For" in Oregon Business magazine. For further information on the Company, please visit their web site at http://www.botc.com/