The Board of Directors of Cascade Bancorp approved payment of a $.09 per share quarterly cash dividend. This regular dividend is payable on February 20, 2007, to shareholders of record as of February 12, 2007.
"The Company announced its fourth quarter and full year 2006 financial results reflecting another outstanding year. "The impact of the successful F&M merger has made 2006 a milestone year for Cascade Bancorp. We have achieved our strategic aim of building a high-performance franchise that is uniquely positioned in some of the fastest growing markets in the entire nation," said Patricia L. Moss, President and CEO. Accordingly, directors are pleased to continue a solid dividend return to our shareholders," stated Patricia L. Moss, President and CEO of Cascade Bancorp.
Cascade Bancorp (headquartered in Bend, Oregon) and its wholly-owned subsidiary, Bank of the Cascades, operates in Oregon and Idaho markets. Cascade has 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 in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley. For further information on Cascade, please visit their web site.