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Cascade Financial Core Earnings Up 13% Year-to-Date.
Strong Loan and Checking Deposit Growth, Credit Quality Remains Outstanding
EVERETT, Wash. -- Cascade Financial Corporation (NASDAQ:CASB), parent company of Cascade Bank, today reported solid year-over-year improvements in its core banking business with 13% loan growth, a 13% increase in checking deposits, and a decrease in non-performing loans to total loans. Net income growth was slowed in both the third quarter and nine-month periods due to the expensing of stock options and core processor conversion costs this year. In the quarter ended September 30, 2006, net income was $3.3 million, or $0.27 per diluted share, even with results from the third quarter last year. For the first nine months of the year, net income was $9.8 million, or $0.79 per dilu...See the full content of this document
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