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Time to pat myself on the back here. Looks like I got this buy right, see my prior post of a buy at .36 on Oct 15th!
"FWIW, not that anybody cares, LOL, I bought more shares of CSAB for the long haul (years) today. I was seriously thinking about it and doing more updated DD, when I discovered insider buying the last 6 weeks at today's prices!!!!"
Those shares made a one day move Friday of +20% on the overnight news.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55599577
And now, on top of this, we have a potential short squeeze under way!!!!!
Holy crap Batman. I just checked the existing short status on CASB and if this data is correct:
http://shortsqueeze.com/?symbol=casb&submit=Short+Quote%99
at the average daily volume rate it needs 19 days to cover the shorts!!! We were up 20% today already today, and they barely covered those shorts, only about 8% was covered!
10% of the float is short!!! And the news came out a day ago that they have improved their financials:
Cascade Financial Completes Series of Successful Balance Sheet Restructuring Transactions:
http://ih.advfn.com/p.php?pid=nmona&article=44890165&symbol=CASB
Holy crap Batman. I just checked the existing short status on CASB and if this data is correct:
http://shortsqueeze.com/?symbol=casb&submit=Short+Quote%99
at the average daily volume rate it needs 19 days to cover the shorts!!! We were up 20% today already today, and they barely covered those shorts, only about 8% was covered!
10% of the float is short!!! And the news came out a day ago that they have improved their financials:
http://ih.advfn.com/p.php?pid=nmona&article=44890165&symbol=CASB
Nice start for an otherwise dull, and odd day in the market indexes.
And the sub market answered back! $.4498
Great news is out!!!!
http://ih.advfn.com/p.php?pid=nmona&article=44890165&symbol=CASB
Cascade Financial Completes Series of Successful Balance Sheet Restructuring Transactions
Date : 10/21/2010 @ 8:13PM
http://ih.advfn.com/p.php?pid=nmona&article=44890165&symbol=CASB
I tend to lean on (buy and hold) the ultra high tech, except for the energy sector like natural gas. MNLU and AEXP are 2 to buy at the bottom here, that will explode when the current well is completed and the news is released. Those two are merging. Both have been hammered into the ground and are real cheap now.
I am not playing any of the bio fuels right now. Other fuels are just too cheap, and I don't see biofuels as high tech. I am in AXPW, new high tech/low tech mixed tech battery play, and a sister to MVTG is CABN that I am in. CABN is using enzymes to convert CO2 into gasoline, skipping the messy bio-algae stage!
AXPW, CABN, MVTG, and CBAK are all ultra high new tech plays on CO2 and alt energy battery sector. One more is TTEG, a new engine that China is buying into. I am in all them. All are high tech-patent-new tech operations that have yet to make a profit. AXPW already has sales. TTEG is buying a profitable China auto parts firm for TTEG stock and should show sales and earning post merger. CBAK has had good profits in the past, major lithium battery company in China.
In part, I play what I know better than most, since I have a bio-chemical engineering degree and my own patents (I wrote them, so I know the patent tech... too).
I got talked into the bank stocks like CASB by and old timer-friend. I am also into CACB and CRBC and FBC on his recomendation, then a few junk biotechs I know, and so on. I was into corn ethanol and got burned badly. I also have some blue chip stuff, like AA, NVS and SO.
will do- lots of new tech and changes in store......
Have you ever looked an NGBF- New Generation BioFuel?
new plant in MD, and make home heating fuel from biomass..
a 10 cent stock that's not got going yet... I'm watching and looking for some sort of a bottom.
These seem to drift lower until some shot comes along... then everyone jumps on just like MTVG?
What do you think of it? I've started to pick up some and watching....
The info is all there on the Ibox and mantra web site. Since the CO2 is basically free, it has a very favorable cost advantage over the old method of manufacture for Formic acid. The CO2 capture is already underway world wide. The problem now is what to do with the captured CO2!
If I had mentioned MTVG before, no one would have listened based on the chart and stock price and lack of volume. It was a long shot sleeper, real tech but no volume, no volume till now that is
Yes, the CO2 capture process is not MTVG, several companies have their own tech for it now. MVTG has an electrochemical reactor that converts water plus CO2 into formic acid. Good market, and good prices for Formic acid!!!! Just read through the IBOX Greener set up, it is a gold mine of detail.
ECOMIKE:
Since you and I are the only ones posting here for the last quarter- don't think you will go ahead and delete your self?
Thanks for info. I have a ton of CASB mostly below .38 so sitting and waiting for some good news here. almost 100K shares...
I'm watching ABK first part of the week as well ... got some, and wondering if it will pull back after the past week's run. They handle the mortgage insurance which should boooooom with the concerns that ppl have if banks actually own foreclosed properties...... Cascade may be held back in concert with banking concerns.. But I think the folks here didn't resort to machine gun signatures- as this was mostly big banks with "countywide" subprimes and int only crap. Big concern is that ppl that got foreclosed could go back and recover- but if Carol and company did it the old fashion way they don't have to worry about lawsuits???.
Have read that ABK may pull back to mid 80's and then rocket to .....
Mantra seems like you have been posting for quite some time..
Will watch it this week-- You should have told me last week...
Seems what you are saying is that they capture CO2 from exhausts of coal fired plant, and then turn it into Formate? Guess I'm still wondering if the thermodynamics are in favor of the conversion process-- and don't know the actual utilization and cost of Formate. Have to keep digging..
cheers...........
Alfa,
I answered your question here:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=55631307
To avoid any off topic deletions.
You know I am mostly a buy and hold person. I have 20% of my IRA in MVTG now!!!! been buying the lows for a year, and holding. I have no where near that amount in CASB shares (yet, LOL). So as strong a believer as I am in CASB (I am not day trading CASB, but buying lows and holding for up to several years for the big pay off), MVTG is about to make an historic price move this coming week.
The advantage of MVTG's process is that it makes a high price, valuable chemical out of waste CO2, eliminating the need to store it and bury it, pump it, build pipelines for it, etc. It is competative with the old way of making formic acid, which required high temps and crude oil..... It came out of a Canadian DOE-university R&D funded program. It is real!!!!
CASB may be interesting this week too! Will we get one more shot at cheap shares as the mortgage foreclosure news wheel turns and grinds away at major bank stock prices, or will CASB buck the trend like it did at the close Friday? My bet is on CASB having bottomed now, based on the recent insider buying and the EARLY quarterly, 3rd quarter, report coming out news!!!!!
OK EcoMike-- OT---
While sitting here with a bunch of CASB waiting for Carol and the girls to report -- I see blips about Mantra...
Question is ... is it a valid process? Or turning base metals into gold like alchemists in the middle ages?
Says tech from university setting- have you verified- and where is best info on the "process- and energy requirement"
CO2 is a low energy product of animal combustion (and autos).. Do they have some new Enzymatic conversion? or some SUF sonocracking? Not interested in the Board BS- but you seem to have been there for almost a year?????
Always a little cautious when you hear new stuff...
OK now back to waiting for CASB to hit a buck.............
As I said, they were open market buys at market prices. I guess you need a Fidelity account and need to be logged in to see the data, some others that use Fidelity will be able to use the link.
What you have listed is correct, and they were all open market buys, not stock awards, or derivatives or any other BS, but real open market buys at the market!!!
Nasdaq has a free view:
http://www.nasdaq.com/asp/holdings.asp?symbol=CASB&selected=CASB&FormType=form4
CASB insider buys--
Your links don't work.. Actually entrance to your Fidelity account webpage- Perhaps you should delete?
These are the only insider buys I see-- from August/July...
Can not tell if they are small awards to IRA accounts at the end of second quarter? Do you have newer?
-------
August 11, 2010 Gaffney, James L
Directors Purchase -- $2.2K 5,000.00 $0.43 - 0.43 16,607.00
August 5, 2010 Halladay, Janice E
Directors Purchase -- $949.8 1,900.00 $0.50 - 0.50 34,637.00
July 29, 2010 Erickson, Steven Robert
Officers Purchase -- $5K 13,159.00 $0.38 - 0.38 45,489.00
July 29, 2010 Mcleod, Debbie E
Officers Purchase -- $2.5K 6,580.00 $0.38 - 0.38 9,808.00
July 29, 2010 Johnson, Debra L
Officers Purchase -- $3.8K 10,000.00 $0.38 - 0.38 10,000.00
July 27, 2010 Harrington-frank, Leanne M
Officers Purchase -- $2.5K 6,662.00 $0.38 - 0.38 12,903.00
July 26, 2010 Duce, David W
Directors Purchase -- $779.4 2,000.00 $0.39 - 0.39 59,356.00
July 26, 2010 Nelson, Carol K
Officers Purchase +0.23% $3.6K 10,000.00 $0.36 - 0.36 70,241.00
The fact that they are having a 3rd quarter conference call scheduled so soon sounds bullish to me. Add in the recent insider buying over the counter shares at market, it sounds like less bad news at a minimum!!!!
Also the Outstanding shares is sitting at 12.x million shares, and the market cap is something silly now like 4 million dollars for a large billion dollar regional bank? The common stock equity is around $1/share after all the loan loss reserves!
I think CASB got overlooked, and clobbered by the summer sell off and now the mortgage foreclosure BS. I don't even thing CASB has much exposure to residential mortgages? Small business / commercial is more like it?
This regional bank has one of the lowest Issued shares numbers I have seen out of all the troubled regional banks. I suspect that even if they need to raise capital, they will find a way to push the stock price up first, before selling any shares.
look at GRAN today -- EOD-- things will shape up here with time..
October 23rd. Think they will have any guidance from the Small Biz bill? Might make the picture clearer-- Bet Carole didn't use robo-signers... Those girls probably do it the old fashioned way....
FWIW, not that anybody cares, LOL, I bought more shares of CSAB for the long haul (years) today. I was seriously thinking about it and doing more updated DD, when I discovered insider buying the last 6 weeks at today's prices!!!!
http://eresearch.fidelity.com/eresearch/goto/evaluate/technicalAnalysis.jhtml?symbols=CASB
http://eresearch.fidelity.com/eresearch/goto/evaluate/technicalAnalysis.jhtml?symbols=CASB
was attempt at "salary cap" humor...
Wonder what "strings" might be attached to loan guarantees given that it's a "problem" bank?
Funding should be included in this Qrt Rpt with positive effect on balance sheet if they take it?
Question again is: Are local businesses in the market for new loans to stimulate business when consumer economy is still in foreclosure?
Can Green Energy growth start up companies get into the waiting line for capital?
Really wonder why there wasn't fanfare and analyst opinions and PPS pop upon signing.. Seems like its a life saver for Carol and Company?????
Not sure. I suspect funding would be immediate, but who knows with Washington. Just news of this type might help loosen bank funding to small business right away.
I don't think salary is involved. I think this is just a loan guarantee deal???? But not sure, and I don't have time to research it.
Eco:
1. Has anyone commented or detailed when the funding would become available to a community bank such as CASB?
2. Would Carol and crew be able to add this to "guidance" for October's Qrt Rpt?
3. What type of restrictions and paper work might be required for CASB to take and use the money?
4. Would Carol's salary be limited to $55,000.00 per year and no multimillion dollar bonus for her with the bail out funding?
--------
Seems to me that major effect might be to have this new money on the books and dilute the non-performing loans to a lessor extent. Question is.... Are there any small businesses that are willing to take a gamble on economy getting better and actually borrowing this money?
News is just out that Obama signed the new 30 billion dollar small business loan program bill. This should help the regional banks in a big way.
Obama signs small business bill into law
REUTERS — 2:15 PM ET 09/27/10
WASHINGTON (Reuters) - President Barack Obama signed a $30 billion small business lending bill into law on Monday, claiming a victory on economic policy for his fellow Democrats ahead of November congressional elections.
(Reporting by Jeff Mason, Editing by Sandra Maler)
You have seen that the Community Bank/Small Biz bill passed and is on way to Obama for Signature?
Key Features:
1. $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets.
2. Community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses.
When President signs with Major News coverage and PR prior to election, Shorts will be leaving by the bus load---.
Can they all fit out the door at one time?
1,491,100 Shares Short
14.0 Days to cover
Good time to be holding 100K shares of CASB?
--------------
House OKs small biz jobs bill
By Catherine Clifford, staff reporter
September 23, 2010: 3:09 PM ET
NEW YORK (CNNMoney.com) -- One week after the Senate passed a $42 billion bill aimed at helping small businesses, the House voted Thursday to send the bill to President Obama's desk.
The measure, which passed the House in a 237 to 187 vote, is aimed at creating 500,000 jobs, according to a Senate summary of the bill. The Small Business Jobs Act also is intended to make credit more available for Main Street and enacts about $12 billion in tax breaks.
The president is expected to sign the bill into law. Not only is Obama under pressure to create jobs, but he started talking about getting cheap capital to small businesses nearly a year ago.
The House first passed a version of the legislation about 3 months ago, but the bill met stiff Republican opposition in the Senate. After months of debate and significant pressure from the White House, the Senate finally passed the bill in a 61 to 38 vote last week.
What is in the bill: The Small Business Jobs Act authorizes the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets.
The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses.
Another provision aims to increase the flow of capital by providing $1.5 billion in grants to state lending programs that in turn support loans to small businesses. The state programs have proven themselves to be efficient, targeted and effective, but with many states struggling to balance their budgets, the programs are going broke.
The bill would also provide a slew of tax breaks that will cost $12 billion over a decade, according to a preliminary estimate from the Joint Committee on Taxation. The breaks aim to encourage small businesses to purchase new equipment, to incentivize venture capital firms to invest in small businesses, and to motivate entrepreneurs to start their own business.
What small biz wants from the govt.
Another provision of the legislation increases the loan limits on government-backed loans. It also extends the popular loan sweeteners for Small Business Administration loans through the end of the year. The sweeteners, initiated with the 2009 Recovery Act, have been a ,stimulus success story, and small businesses have been in line waiting for more funding.
There are quite a few tax breaks, but here is a rundown of five that have the potential to be game changers for the small businesses that are affected:
100% exclusion of capital gains: The bill would eliminate capital gains taxes on investments in qualifying small businesses.
To qualify for the tax break, a small business needs to be a C corporation - sorry, LLCs and S-corps - with assets of less than $50 million. The investor must buy the stock at "original issue," meaning it's purchased directly from the company, and has to hold it for at least five years.
Carry back provision extended to 5 years: When a business books a profit, it pays income tax on its earnings. But if the business then turns a loss in later years, tax rules allow the business to "carry back" its loss and deduct the money from earlier profits.
By filing an amended tax return for the earlier, profitable year, the business can claim an immediate refund on the taxes it paid. The bill allows certain small businesses to extend the carryback for 5 years.
Increase of Section 179: To motivate companies to go spend money on equipment, "Section 179" of the tax code allows businesses to write off capital expenditures immediately, putting cash in a company's pocket quickly.
Thanks to the Recovery Act, businesses can write off up to $250,000 worth of equipment through 2009. This bill extends the benefit through 2011 and the maximum increases to $500,000.
Bonus depreciation extension: Businesses can also opt to recover the cost of capital expenditures by writing off a bit of the cost of the purchase over a number of years, following a depreciation schedule.
Temporarily, businesses can front-load that deduction by writing off 50% of capital expenditures made in 2008 and 2009. This bill extends that first-year depreciation for qualifying property that is put in service in 2010.
Help for start-ups: Currently, entrepreneurs can deduct up to $5,000 in start-up expenses. That amount is reduced by the amount that the start-up's expenses exceed $50,000. The bill would increase the deduction to $10,000 for 2010, and the deduction would be reduced by the amount that an entrepreneur exceeds $60,000.
Nice!!!!! Thanks for sharing the news.
CASB SHORT interest down 100,000 Shares?
Do they know ?
Cascade Financial Corp. $ 0.41
CASB
Short Interest (Shares Short)
1,491,100
Days To Cover (Short Interest Ratio)
14.0
Short Interest - Prior
1,590,300
CASB- Yes something going on? I've been following and accumulating for a longer term hold. Texas Ratio was actually better one of the group designated as "problem banks", and figured not all would fail.
Think some shorts have figured that the legislation may pass and regionals may get assistance with balance sheets? If so this is way undervalued and really priced below liquidation? Have to see if the next 1.59million shares are bought back by shorts and sell them a few for a dollar?
CACB and GRAN have not made the moves like CASB over the past few days? so uncertainty rules but Regional Bank ETFs are good index.
It also appeared that CACB was able to extend loan terms but that was suppose to be until 9/15- so don't know what they have going.
#2 below has chart... looks good to go...
1. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54496809
2. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54499212
If you follow ETF's as a guideline- the Regional EFTs are outperforming the Big Bank ETFs so shows sector support and improvement??
3. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54375911
Starting to look like a real rally may be getting a head of steam?
The float on this, and % short, says this stock could easily rocket on any real volume buying!
From my Fidelity data:
Shares Outstanding 12,272,000
Shares Short* 1,590,251
Market cap $5.15 million
Right now it is selling for about 1/2 of book value.
Small Business Aid Bill Clears Senate
ANDREW TAYLOR | 09/14/10 07:41 PM | AP
WASHINGTON — In a win for President Barack Obama and his political allies, Senate Democrats on Tuesday won a crucial vote to clear the way for a bill to create a $30 billion government fund to help open up lending for credit-starved small businesses.
Democrats cracked a GOP filibuster of the bill with the help of two Republicans: Sens. George Voinovich of Ohio and George LeMieux of Florida.
The 61-37 tally sets the stage for a final vote later this week to return the measure to the House, which is likely to approve it for Obama's signature.
The bill is probably the last piece of Democrats' ambitious jobs agenda that would become law before midterm elections, which will determine whether Democrats keep their majorities in the House and Senate. Democrats started the year with ambitious plans for a series of bills designed to boost the economy and job creation but have relatively little to show for it. The nationwide unemployment rate ticked up to 9.6 percent last month.
Obama welcomed the vote.
"This is a bill that would cut taxes and help provide loans to millions of small business owners who create most of the new jobs in this country," Obama said in a statement. "Small businesses across the country have been waiting for Washington to act on this bill for far too long."
The new fund would be available to community banks with less than $10 billion in assets to encourage lending to small businesses. The bill would combine the fund with about $12 billion in tax breaks aimed at both large and small businesses over the coming decade.
Democrats say banks should be able to use the lending fund to leverage up to $300 billion in loans, helping to loosen tight credit markets. Some Republicans, however, have likened it to the unpopular bailout of the financial industry.
Democrats say the measure is needed to help small businesses cope with a credit crunch that worsened dramatically after the financial crisis two years ago.
Hammer- Something might be going on here buddy...
1. Last 2 Friday afternoons saw large sell volume- that didn't happen today
2. CACB has some post about extension of loan agreements by fund and individual until Sept 15th.
3. Sell volume during this past week has dried up, and buys are now keeping it back up to .38 ..
4. Perhaps ppl find that this was priced at a "liquidation" level and the book value is actually higher?
Good time to be holding some 30 cent shares?
Should have had your buy order GTC at .3001 open this afternoon.
Usually Friday afternoon around 1: or 2: PM someone gets panic that the FDIC Black Sedans will show up and... well..........
Thing is FDIC no longer has funds to rent cars to go close a Bank way out there, let alone the airfare? So they stay open?
I am still long, and thinking of adding soon.
News on CACB-- seems all is not dead...
Wonder what they plan on announcing by Sept 15th?
And if Private Eq thought they were dead, would they?
----------
Cascade Bancorp ("Cascade") (Nasdaq: CACB) announced today that it has entered into an agreement with each of David F. Bolger ("Mr. Bolger") and an affiliate of Lightyear Fund II, L.P. ("Lightyear") amending the Securities Purchase Agreements between the Company and Mr. Bolger and the Company and Lightyear dated October 29, 2009, as amended February 16, 2010, June 1, 2010, June 30, 2010, July 15, 2010 and August 31, 2010 (the "Securities Purchase Agreements") to extend their conditional commitments to September 15, 2010.
Per the new agreement, the extended date by which conditions of closing must be satisfied is now September 15, 2010. The sales to Mr. Bolger and to Lightyear are conditioned upon the Company's simultaneous sale of shares of its common stock in additional private placements to other investors under separate written agreements such that the total net proceeds from the offerings is at least $150 million, in addition to the other closing conditions set forth in each of the Securities Purchase Agreements.
Well if nothing else.......................................
I've put in my 28.7 cents worth.
I just hope the shorts have been SHORT sighted, and that we have not been short sighted ourselves.
LOL
LEE OWN IT.....Hammer
CASB vs. FBP ......... Hammer U watching FBP today?????????
----
First Bancorp (NYSE:FBP) has a price to book ratio of 0.1x based on a current price of $0.41 and a book value per share of $5.48.
Cascade Financial (NASDAQ:CASB) has a price to book ratio of 0.1x based on a current price of $0.3 and a book value per share of $3.79.
--------
companies in the Regional Banking industry as measured by the price to book ratio. Often companies with the lowest ratio present the greatest value to investors.
Eco:
I buy the Management here and plan to stick it out.
Buying on dips and bad days. Banking ratio makes it top of the troubled banks, so others will be shut down first.
Shorts have taken pps down to where secondary offering doesn't make sense, so Mgmt has to clean house and get ready for winter.
Poor Bob and Steven.. I think these girls are cooking up a short storm..
Cascade Executive Menu:
Apptizer: Short fruit salad
Main Course: Broiled SHORT ribs.
Desert: Short cake, w/ cream
--------
Officers & Directors CASCADE FINANCIAL CORPORATION (NASDAQ - CASB)
Senior Management
Carol Kobuke Nelson
President and Chief Executive Officer
Carol K. Nelson has over 30 years in the banking industry and was appointed Chief Executive Officer of the company in May 2002. She has served as President of the company and President and Chief Executive Officer of the bank since February 2001. She serves on the Boards of Directors of the Washington Roundtable, the Public Facilities District for Washington State's Major League Baseball Stadium, the Washington Bankers Association, Seattle University and Premera Blue Cross. Ms. Nelson is a past Chair of the Board of the Washington Bankers Association and past Chair of the Board of United Way of Snohomish County. Prior to joining Cascade Bank, Carol was an executive with Bank of America. Ms. Nelson resides in Edmonds, Washington.
Debra L. Johnson
Chief Financial Officer
Johnson has 30 years of banking experience, including 12 years as Chief Financial Officer. She earned her Bachelor's Degree in Business from Western Washington University and is a graduate of Pacific Coast Banking School. She earned her CPA certificate in 1991 and is a member of the American Institute of Certified Public Accountants, Washington State Society of CPAs and Financial Executives International. She is a current board member for the Coal Creek Family YWCA and past board president of Habitat for Humanity of Seattle/South King County.
Robert G. Disotell
Executive Vice President, Chief Credit Officer
Rob joined Cascade Bank in October 1977. During his 33 years with Cascade, Rob developed experience in a variety of areas. He started his career as a mortgage lending officer and then became a branch manager of two offices in Seattle. In 1987 Rob was appointed Chief Lending Officer, and later became the Bank's Chief Operations Officer. He served on the Bank's Board of Directors from 1990 to 1998. In 2001, Rob was chosen to form the Bank's Credit Administration Department which he continues to manage as Chief Credit Officer. Rob serves on the Board of Directors of the Everett YMCA. He resides in Arlington, Washington.
Steven R. Erickson
Executive Vice President/Commercial Banking Executive
Steve Erickson has been with Cascade Bank for nearly 32 years and manages the Income Property and Commercial Real Estate Division. During his tenure with the Bank, Steve has managed the Loan Servicing, Special Credits and Real Estate Lending departments. He is a past Board Member of the Boys and Girls Club of Snohomish County and is currently on the Board of Big Brothers/Big Sisters of Snohomish County. Steve resides in Marysville, Washington.
LeAnne M. Harrington
Executive Vice President, Chief Administrative Officer
LeAnne has been in the banking industry for 23 years. She has been with Cascade Bank since February of 2001 as Executive Vice President and Chief Administrative Officer. Prior to joining Cascade, LeAnne worked for Bank of America as Vice President and Region Service Manager. LeAnne is a 2006 graduate of Pacific Coast Banking School. She is a member of the Board of Directors for Red Cross of Snohomish County. LeAnne resides in Everett.
Debbie E. McLeod
Executive Vice President, Retail Banking
Debbie is responsible for managing the Bank's Retail Banking Division. Debbie joined Cascade Bank in February 2001. She has over 22 years of commercial banking experience and, prior to joining Cascade, Debbie was Vice President and Northern Region Sales Manager with Bank of America. She is a member and past Chair of the Board of Directors of United Way of Snohomish County, and a past Board Chair for the United Way of Skagit County. Debbie is a 2009 graduate of Pacific Coast Banking School and was named to the Puget Sound Business Journal's 2005 annual '40 Under 40' list, which recognizes the 40 top Puget Sound executives under 40 years of age who are making their mark on the local business landscape and the broader community. Debbie resides in Burlington, Washington.
Board of Directors
Dennis R. Murphy
Dennis Murphy is Dean of the College of Business and Economics and Professor of Economics at Western Washington University, Bellingham, Washington. He serves on the boards of the Regents Blue Shield Advisory Board, the PACE Foundation, Jr. Achievement, and the Whatcom Chamber of Commerce and Industry. He also serves on the Audit and Finance Committee of the Western Foundation, Inc. He is Past-President of the United Way of Whatcom County and the Bellingham Rotary. Dr. Murphy is a resident of Bellingham, Washington.
Ronald E. Thompson
Ronald Thompson is the President of Windermere Commercial and Property Management of Snohomish County, Everett, Washington, a real estate sales and property management company. He is a past president of the Snohomish County-Camano Association of Realtors, a past State director of the Washington Association of Realtors, and served on the Board of Directors for the Mt. Baker Council Boy Scouts of America. Mr. Thompson is a member of the Everett Rotary Club. He is a resident of Everett, Washington.
Richard L. Anderson
Richard Anderson is a certified public accountant and managing shareholder with Hascal, Sjoholm & Company, P.S. This firm is the largest locally owned certified public accounting firm in Snohomish County, serving businesses and families since 1948. Mr. Anderson is a member of the Downtown Everett Rotary and serves as a board member on a wide variety of civic and community groups. Among them include the Everett Public Facilities District, Compass Health, the Everett Public Library, the Corporate Roundtable for the Arts, and Big Brothers/Big Sisters of Snohomish County. Mr. Anderson resides in Everett, Washington.
David W. Duce
David Duce is a practicing attorney with the Everett law firm of Duce, Bastian, Peterson and Zielke since 1985. He is the outgoing chairman of the Professional Negligence Section of the Washington State Trial Lawyers Association. He is a court approved arbitrator for Snohomish County Superior Court lawsuits and worked as a member of the Court Congestion Steering Committee of the Snohomish County Bar Association. Mr. Duce was a member of Senator Henry M. Jackson's staff in Washington, D.C. Mr. Duce has served as a Director since 1991 and was elected Chairman of Cascade Financial Corporation in 2004. He is a resident of Everett, Washington.
Marion R. Foote
Marion R. (Robin) Foote has over 28 years of experience in the banking industry, including a 16-year career in commercial banking, holding senior executive level positions at First Chicago/NBD (now part of JP Morgan Chase) and Bank of America. She has over 12 years of experience as a Managing Director to firms specializing in consulting with financial services companies in the areas of deposit growth, improving market share and increasing customer profitability. Since 2005, Ms. Foote has served as a Managing Director and Senior Marketing Partner for Novantas, LLC. She is currently on the Board of Directors of Saturna Trust Company, and is a Board Member and Treasurer of St. Joseph's Hospital Foundation, both in Bellingham, Washington. Ms. Foote is an advisory director of privately held Diacor, Inc. She resides in Bellingham, Washington.
Jim Gaffney
Jim Gaffney is the owner/president and founder of Gaffney Construction, Inc., a commercial construction firm based in Everett, Washington. Established in 1974, Gaffney Construction has built a diverse range of projects including bank, office, retail and non-profit facilities. An Everett native, Gaffney has served as past president and board member for the Boys & Girls Club of Snohomish County for more than 20 years.
Janice E. Halladay
Janice Halladay is a retired bank executive. Ms. Halladay was previously employed by Pioneer Bank, Lynnwood, Washington, as Senior Vice President. She was subsequently employed by a regional accounting firm, Moss Adams LLP. She is currently a member of the Board of Directors of the Northwest Service Area of the Providence Health System and also serves on the Board of Trustees for Deaconess Children's Services. Ms. Halladay is a resident of Everett, Washington.
Arnold R. Hofmann
Mr. Hofmann was formerly a director of the American First National Bank in Everett, which was acquired by Cascade Bank in 1997. He has been the owner and developer of various multi-family and commercial properties in Everett, Edmonds and Seattle, Washington since 1977. He was a U.S. Navy Supply Corps Officer from 1968 to 1988, retiring at the rank of Commander. As a Naval Officer, Mr. Hofmann’s responsibilities included business planning, budgeting, contracting, and oversight of construction and maintenance projects.
Carol Kobuke Nelson
Carol K. Nelson has over 30 years in the banking industry and was appointed Chief Executive Officer of the company in May 2002. She has served as President of the company and President and Chief Executive Officer of the bank since February 2001. She serves on the Boards of Directors of the Washington Roundtable, the Public Facilities District for Washington State's Major League Baseball Stadium, the Washington Bankers Association, Seattle University and Premera Blue Cross. Ms. Nelson is a past Chair of the Board of the Washington Bankers Association and past Chair of the Board of United Way of Snohomish County. Prior to joining Cascade Bank, Carol was an executive with Bank of America. Ms. Nelson resides in Edmonds, Washington.
David R. O'Connor
David O'Connor is Co-Owner of Mobile Country Club in Everett Washington, and was a founding director of American First National Bank. Mr. O'Connor was Co-Owner of O'Connor & Oehler Construction Inc. from 1974 to 1996 and continues in his development business. Mr. O'Connor is a member of the Manufactured Housing Communities of Washington. Mr. O'Connor resides in Arlington, Washington.
Thomas H. Rainville
Mr. Rainville founded American First National Bank in Everett, where he served as President, Chairman and CEO until that bank was acquired by Cascade Bank in 1997. He was a founding director of the Northwest Intermediate Banking School, a founding director of the Washington Independent Bankers’ Association (where he served as President), and served as State Director of the Independent Bankers’ Association of the Americas. He is a past president of the Rotary Club of Everett and a past District Governor of Rotary International. He is currently an elected Commissioner of the Mukilteo Water and Wastewater District and a member of the Finance Council of the Archdiocese of Seattle.
Christian H. Sievers
Mr. Sievers is a retired banking executive with over 35 years experience in the banking industry. He has held management positions with Pacific National Bank/First Interstate, Seafirst/Bank of America and ABN AMRO-Seattle. Mr. Sievers is currently an executive officer of H&H Properties, developer of the Useless Bay Colony and the Useless Bay Golf and Country Club on South Whidbey Island. He also manages personal real estate holdings.
G. Brandt Westover
Shorty still has not gotten any of my shares. Only way he gets mine is at $3.00/share, or pried from my cold dead hands!
Yeah Jerko: I know. I grabbed a few Friday afternoon around 2:30PM..
8/27/2010 CASB BOUGHT 5000 SHARES OF CASB AT $0.287
8/27/2010 CASB BOUGHT 5000 SHARES OF CASB AT $0.287
Now all we need is for Carol, LouAnn, Debbie and the crew to start cranking .......You go GIRLS!!!!!!!!
Hope the shorts realize whats going to happen. Check the days to cover! Hell of a Short Squeeze when they PR a private Equity deal..
See how Carol deals with Shorts....
http://investorshub.advfn.com/uimage/uploads/2010/2/25/ffjj%5Bcatshooting1pe.gif
alfa..............
Nine banks that received TARP aid through the Capital Purchase Program were sanctioned by the Federal Deposit Insurance Corp. in July
http://bailoutsleuth.com/news/2010/08/nine-tarp-banks-penalized-by-fdic-in-july/
Ecomike: Possible Private Equity-style "Bailout" of CASB? Coming to a regional bank near you?
Sort of related to CASB, as Sterling was in similar situation, and got Private Equity assistance with capital reserves, then Feds relaxed a bit? Makes you ask who shorted this thing in the first place- as now it's a real cheap buy??
found this on one yahoo board-- sort of rehashing, but perhaps a White Knight will arrive next Friday afternoon rather than a black sedan from the FDIC?
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Spokane-based Sterling Savings Bank pulls $730M into its bank with equity firms and private investors, follows regulatory orders.
BY BILL ROBERTS - broberts@idahostatesman.com
Copyright: © 2010 Idaho Statesman
Published: 08/21/10
Spokane-based Sterling Financial Corp., the holding company for Sterling Savings Bank, announced Friday that it has commitments to raise $730 million in capital. The bank has been under a directive from Washington State and federal regulators since October to increase its capital ratios and improve its safety and soundness. Bank officials made a commitment to regulators that they would raise $720 million. (just like CASB)
About 775 banks nationwide are under similar orders as financial institutions slog through the Great Recession, said Gavin Gee, director of the Idaho Department of Finance, which regulates two of the troubled banks because they're state-chartered.
Sterling Financial Corporation, the holding company for Sterling Savings Bank, has reached agreement with a Boston-based private equity company for the company to invest $134.7 million in the bank, contingent on Sterling raising at least another $585.3 million.
The total amount, $720 million, would mean Spokane-based Sterling Savings Bank would meet regulatory requirements for its capital levels.
Two private equity companies, Thomas H. Lee Partners, in Boston, and Warburg Pincus Private Equity, out of New York, agreed to increase their previous commitments by a total of $64 million to $342 million. The bank also announced a commitment for private placement of stock with 30 investors for $388 million.
Once the deal is completed, the two equity companies would each own 22.6 percent of the bank.
Along with the commitments from investors, the U.S. Treasury agreed to convert $303 million in preferred stock it invested in the bank as part of the Troubled Asset Relief Program. The Treasury Department will convert that to common stock and sell it when it chooses. The bank will not have to pay quarterly dividends on the preferred stock or repay the initial stock investment, bank officials say.
"This commitment of $730 million in new capital represents a major milestone in our recovery plan, and one that will substantially strengthen our capital ratios and provide a solid base for rebuilding long-term franchise value," said Greg Seibly, Sterling president and chief executive office
A 10K buy at EOD wasn't much, and no post-market..
Hope next week .... There's always hope
Yes- they had a pretty good run last year. and financial activity up.. but some funny charges and accounting rules changes this report..
several small insider buys at 75- 73
watching...
I would not try to call a bottom until I looked at the financials (profits, losses, debt, stock holders equity), total shares issued and calculated a reasonable market cap, then discounted that for a selling overshoot of 38 to 50%!
OT:-----
Capstone Turbine Corporation $ 0.71
CPST -0.02
Short Interest (Shares Short)
23,582,000
Days To Cover (Short Interest Ratio)
21.9
Drop this week has been sharp, but appears to be leveling off..
Picked some .70's up yesterday to keep in on my screen and watch.
How do you find the bottom?
No, but I just bookmarked it to start following it.
Ecomike:
Hey have you looked also at CPST- Capstone Turbine.. They are on one hell of a slide this week... I don't chart stuff, and don't pretend to .. but sure looks like a bottom will be forming in the 60's or sooner??? They make wind turbines, microtuble..
Like CASB here.. Have you seen the Sr. Mgmt Team...
Damn, I would not let them catch me making a late payment or try to mail in the keys.... These gals mean business with a capital B.... And that's a complement.
Think they threw out the good old boys in the Proxy fight and will turn this thing around......................
Looking for an entry point... caught some .38's but let them go for 40- 41......
have a good weekend.
Yes but bottom line........its MANIPULATION......MM's looking for CHEAP INVENTORY...........they gonna get PLASTERED...Hammer
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Shares outstanding: 12,271,529
Float: 10,072,883
Authorized shares: 65,000,000
Message from CEO : http://www.cascadebank.com/docs/Q2_Carol_Nelson_Letter.pdf
2010 Annual Shareholder Meeting: http://www.snl.com/Cache/1001153203.PDF?D=&O=PDF&IID=102173&Y=&T=&FID=1001153203
Contact:
Cascade Financial Corporation
2828 Colby Avenue
Everett, WA 98201-3537
(425) 339-5500
Investor Relations Contact
Ms. Debra L. Johnson
djohnson@cascadebank.com
Transfer Agent
BNY Mellon Shareowner Services
P.O. Box 358015
Pittsburgh, PA 15252-8015
(800) 648-8160
About Cascade Financial
Established in 1916, Cascade Bank, the only operating subsidiary of Cascade Financial Corporation, is a state chartered commercial bank headquartered in Everett, Washington. Cascade Bank maintains an "Outstanding" CRA rating and has proudly served the Puget Sound region for over 90 years. Cascade Bank operates 22 full service branches in Everett, Lynnwood, Marysville, Mukilteo, Shoreline, Smokey Point, Issaquah, Clearview, Woodinville, Lake Stevens, Bellevue, Snohomish, North Bend, Burlington and Edmonds.
In October 2009, Cascade Bank was named Favorite Snohomish County Company in the fourth annual NW.Jobs.com People's Picks awards. In June 2009, Cascade was ranked #55 on the Seattle Times' Northwest 100 list of public companies. In April 2010, Cascade was ranked #8 on the Puget Sound Business Journal's list of largest bank companies headquartered in the Puget Sound area.
CONTACT: Cascade Bank Investor Contacts: Carol K. Nelson, CEO Rob Disotell, CCO 425.339.5500
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