CASB - Improving numbers but looming merger decision coming May 31.

This is day 2 of a serious price pull back, just 2 days before earnings are released. Unusual, unless all the buy the rumor buys petered out 2 days ago and they are taking profits early, or unless MM's are stocking up for real rally news?

Still long here. FBC also had similar pull backs with earnings release this wed.

The recent breakout to the upside of the wedge pattern CASB was trading in is a bullish indication.
Couple this a good earnings report & we have the makings for a nice rally which could gain extra fuel from the short covering frenzy.

CASB~~~Significant items for the third quarter of 2010 include:

Provision for loan losses of $8.0 million; a 31.8% decrease on a sequential quarter basis;
Net charge-offs of $7.6 million; a 34.9% decrease on a sequential quarter basis;
Nonperforming assets to total assets declined to 6.36% from 6.57% on a sequential quarter basis;
Total allowance for loan losses increased to 2.51% of total loans, up from 2.36% three months earlier and 2.02% a year ago;
Loan portfolio mix improved with a 16.8% reduction in real estate construction loans compared to three months earlier, and a 54.2% reduction from a year ago. Land acquisition and development/land loans are a component of this portfolio and declined $5.6 million, down 7.6% from three months earlier, and down 58.4% from one year ago;
Personal checking accounts increased 29.8% from one year ago, and declined 15.2% on a sequential quarter basis due to cross-sell efforts into savings and money market accounts and CDs;
A reduction in average interest rates paid on interest checking and CDs combined to reduce the cost of deposits by 8 basis points compared to the preceding quarter;
Risk based capital ratio at 10.7%.


m1999
http://ih.advfn.com/p.php?pid=nmona&article=44943399

CASB~~~On October 21st, Cascade announced that it had successfully completed a series of balance sheet restructuring transactions which will immediately put Cascade in an improved financial position including increased capital ratios and increased net interest margin.

The transactions included the restructuring of Cascade's securities portfolio, prepayment and/or modification of Cascade's Federal Home Loan Bank (FHLB) advances, and the purchase of interest rate caps designed to protect both the net interest margin and shareholders' equity from potential future rising interest rates.

"Our team has remained focused on reducing nonperforming assets, strengthening our performing loan portfolio, growing our depositor base and increasing on-balance sheet liquidity.

Our operating results improved compared to the previous quarter; however, we continue to be hampered by the elevated provision for loan losses and charge-offs," stated Carol K. Nelson, President and CEO. "We made improvements in credit quality metrics for the second consecutive quarter with a 6.3% reduction in nonperforming assets and a decline in the real estate construction portfolio of 54.2% in the past year.

Additionally, stronger deposit growth and a reduction in the real estate construction loan portfolio over the past few quarters led to increased on-balance sheet liquidity which provided us the opportunity to pursue these balance sheet restructuring transactions.

We were able to monetize gains in our securities portfolio to offset the cost of prepaying the FHLB borrowings. The end result will shrink the balance sheet, improve our capital ratios, reduce interest expense and improve our net interest margin.

These restructuring transactions, which commenced late in the third quarter and were completed early in the fourth quarter, are part of Cascade's overall business plan to strengthen its financial condition going forward."

http://ih.advfn.com/p.php?pid=nmona&article=44943399

m1999

CASB~~~Cascade's net operating loss totaled $6.0 million for the third quarter ended September 30, 2010, compared to a net loss of $24.2 million in the prior quarter. Provision for loan losses for the quarter was $8.0 million, a 31.8% decrease on a sequential quarter basis.

Including accruals for preferred stock dividends and accretion of issuance discount on preferred stock issued to the U.S. Treasury, Cascade reported a net loss attributable to common stockholders of $6.6 million, or $0.54 per diluted common share, for the third quarter of 2010, compared to a net loss of $24.8 million, or $2.02 per diluted common share, in the prior quarter and net income of $1.0 million, or $0.09 per diluted common share, for the third quarter a year ago.

Dividend accruals on preferred stock issued to the U.S. Treasury under the Capital Purchase Program for the third quarter of 2010 totaled $508,000, and the accretion of the issuance discount on preferred stock for the quarter was $112,000.

http://ih.advfn.com/p.php?pid=nmona&article=44943399

m1999

Cascade Financial Corporation (Nasdaq:CASB), the parent company of Cascade Bank, today reported financial results for the third quarter ended September 30, 2010, which included improvements in overall credit quality metrics and further reductions of nonperforming assets in the quarter.

http://ih.advfn.com/p.php?pid=nmona&article=44943399

m1999

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 November 2010, Cascade Bank was named Favorite Snohomish County (with fewer than 250 employees) in NW.Jobs.com's People's Picks campaign for the second year in a row. 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
Debbie Johnson, CFO
425.339.5500
www.cascadebank.com

http://ih.advfn.com/p.php?pid=nmona&article=45875860

m1999

Cascade Financial Corporation (Nasdaq:CASB), parent company of Cascade Bank, today announced that it plans to report fourth quarter 2010 results after the market closes on Tuesday, January 25, 2011. Management will host an analyst call on Wednesday, January 26 at 11:00 a.m. PST (2:00 p.m. EST) to discuss the results. The call will also be broadcast live via the internet.

Interested investors may listen to the call live or via replay at www.cascadebank.com. Investment professionals are invited to dial (480) 629-9722 to participate in the call. A replay will be available for one week at (303) 590-3030, using access code

http://ih.advfn.com/p.php?pid=nmona&article=45875860

m1999

Still long CASB - Must be good news anticipated in the CC judging by todays action.

WOW, up over 30% today and not a whisper out of the chat forum here?

Luck for me today, I was still long!!!

CASB started the week at .50 with a high on Friday of .56 & a low of .45 also on Friday.
Volume picked up on Friday to 94,929 over it's average of 74K.
PPS continues to find support at the 50ma.
CASB tested resistance of .55 this week but twice got sent back to it's support at .45.

Support for now here at the 50ma.
Trading today was flat until the afternoon with 5 & 7k buys pushing the pps to .48 before closing at .46,

If the channel holds up support is at .43-.45, if the bottom drops out & the 200ma doesn't catch us then down we go back to .35-.38.
If we break this resistance at .50 then resistance at .53, .56 then .62.
I think the latter as the slow sto valley's continue to rise as well as the rsi & this thing gains some traction.

What is your read on that chart. Looks to me like .40 to .42 might be the next low on market pull backs for now to rebuy or add? And if .40 does not hold?

CASB performance turning around.
The bleeding has stopped & now showing green this quarter, 28%.

Financial sector stock screen

The free version that the site converted my chart into just inserted the macd, sorry about that. Try the link below:

CASB 100/50dma

100 da is not on that chart?

Key 50/100ma cross recently:

link to institutional holders:
Institutional Holders

From the November 10-Q regarding TARP Capital Purchase Program (CPP):
On July 20, 2010, the Board of Directors of the Bank stipulated to the entry of a Consent Order with the FDIC and the Washington State DFI, effective July 21, 2010 (the “Consent Order”). Under the terms of the Consent Order, the Bank cannot pay any cash dividends or make any payments to its stockholders without the prior written approval of the FDIC and the Washington DFI.
The Consent Order will remain in effect until modified or terminated by the FDIC and the Washington State DFI.

However, there can be no assurance that full compliance will be achieved. As a result, the Corporation and the Bank could become subject to further restrictions or penalties. Full satisfaction of the Consent Order will depend in part on raising a significant amount of additional capital to satisfy the Bank’s capital ratio requirements. The Corporation’s ability to raise additional capital will depend on conditions in the capital markets at that time, which are outside of its control, and on the Bank’s financial performance. The Corporation will not be able to increase the Bank’s capital ratios pursuant to the Consent Order by November 18, 2010. On the date the Consent Order was signed, the Board of Directors explained to the FDIC and the Washington State DFI representatives that market forces governing capital availability might not allow realization of the targeted capital ratios within the stipulated timeframes in spite of the efforts of the Board of Directors and management. The regulators acknowledged that the timeframes might not be achievable, but expected the directors and management to make good faith efforts to achieve the required ratios. Notwithstanding this, we may be subject to additional regulatory orders and/or restrictions due to the Corporation’s inability to increase the Bank’s capital ratios by the required timeframe. Further, should the Bank’s asset quality continue to erode and require significant additional provision for loan losses, resulting in additional future net operating losses at the Bank, the Bank’s capital levels will further decline, requiring the raising of more capital than the amount currently required to satisfy the Consent Order.

Item 5. Other information

On October 21, 2010, the Corporation announced that it had successfully completed a series of balance sheet restructuring transactions which would immediately put the Corporation and the Bank in an improved financial position including increased capital ratios and increased net interest margin. The transactions included the restructuring of the Bank’s securities portfolio, prepayment of $80 million in FHLB advances, modification of $159 million of fixed rate FHLB advances into lower cost floating rate advances to reduce current interest expense and the purchase of $159 million in interest rate caps designed to protect both the net interest margin and stockholders’ equity from potential future rising interest rates.

CASB Short interest jumped 65% today!

http://shortsqueeze.com/?symbol=casb&submit=Short+Quote%99

The CASB bank, CACB short interest now needs 94 days to cover!

The Oregon Idaho regiona had been hit severely while big banks and financial institution have been bailed out by the government the smaller institions have been hung out to dry..

I have work under a third party for CASB for a short period of time..
I can tell you that they have restructure thier dead assets mostly in the mortgage I believe that the mortagage was in many ways the problem however,, in working in the back office consolidating most of these paper work..

I know that we are at the tail in of these crisis atleast it appears to be..

I would wouldn't be surprise with a three month time period we would be atleast closer to 2.00..

I am guessing of course, and that is just my opinion.I have a nice position in the stock around the .30 and .40 I would say that the stock is way under valued..

when?

OK $2 or more.. :)

No doubt, but from where? LOL.

I still have 2/3rds of my shares.

its a blood bath at the regional banks today.. bounce will come back inevitably

You think CASB got hammered down, look at the dilution mess in FBC today.

Tell me about it CASB just got hammered..

Not as bad as AWBC though as of right now they are down 80%

Ready for a lift ?????

lets go for 2.00 :)

Balance sheets look a lot better, should be a solid $1.00 soon.

the power hour coming..

bought back at .66 ready to go up..

LOL, the feathers are flying now, UP, DOWN UP... hell of an elevator ride!

HOPE SO !!!!!!

CASB going crazy, will be over a $1.00 soon.

Good day, picked some up today and loving it. I don't see any pullback tomorrow, looks like it has good consolidation on the run today. Don't we have earnings report after close tomorrow?

That is why I held 75% of my shares for the long haul. I agree, but I worry about a possible market wide pull back any day. Tomorrow is turnaround tuesday.

I will keep some shares here for several years. I am just learning that it is sometimes prudent to pull a little cash out after an 80% one day rally. I need to look at the change in shorts here overnight too.

I don't think it has updated yet:

http://shortsqueeze.com/?symbol=casb&submit=Short+Quote%99

For me it looks like they will drive it up to the fair value mark above 2 dollar.
I dont think there will be a bigger sell of coming, i anticipate
buying pressure in addition to the restructured balance sheet.

good luck

It would have just been a TA play for me so glad you were able to make the best of it. My schedule and availability to be able to watch these is pretty limited. By the time i was looking to get in it was already running. .64/.65 held better than i thought it would.

Best of luck!!

Can't win em all. Hell I paid $2 a share on my first purchase. Still holding those shares / losses. But I doubled my money on the last lot I bought at .40, Lovin it!!!! I sold a few of the .40's at the close just in case there is profit taking sell off tomorrow, before it goes over $1. If it pulls back I will use those dollars to add again.

It sure looks like they plan to push it back into compliance over $1, in a big hurry. Nothing like panic short covering buyers to help it along the way!

congrats. I missed it this morning! BUMMER!!!!!

Round two rally today, going eve higher. I would hate to be short on this one!!!!!!

CASB 0.6979 +0.248 +55.16 670,525 0.6715 0.6998

QUITE A NICE DAY THERE.

lmao!!! CASB has been on my watch list for a bite! Couple nice indicators so looking to see if the volume picks up as well.

LOL, nice bottom indeed!

NO Ecomike, I'm not a bottom fisher......

I'm a perfect bottom finder.

http://investorshub.advfn.com/uimage/uploads/2010/9/2/gxajbbottom.jpg

Just trying do it the old fashioned way without charts.

Objective: to find the perfect double bottom, cheek by cheek with extensive DD and close attention to each and every detail.

Your just a bottom fisher!!! LOL

OK we can pat each other's backs, LOL.

I love it when a plan comes together! (ATEAM)

I also love the machine gunning cat on that post!!!! LOL

You can pat yourself on the back. but...

Seems I grabbed their bottoms...............

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