Cascade Financial's Earnings Increase 8% in the Third Quarter and 21% YTD; Total Loans Increase 12% and Deposits Grow 13%.
Business Wire › October 17, 2005
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Cascade Financial's Earnings Increase 8% in the Third Quarter and 21% YTD; Total Loans Increase 12% and Deposits Grow 13%.
EVERETT, Wash. -- Cascade Financial Corporation (Nasdaq:CASB), parent company of Cascade Bank, today reported that net income and earnings per share grew 8% in the third quarter, reflecting continued growth in the loan portfolio and higher checking and service fees. In the first nine months of 2005, net income increased 21% and earnings per diluted share grew 12%, reflecting the additional shares issued to acquire Issaquah Bancshares in the second quarter of last year.
Net income was $3.3 million in the third quarter of 2005, or $0.34 per diluted share, compared to $3.1 million, or $0.32 per share the previous year. For the nine-month period ended September 30, net income was $9.6 million, or $0.98 per diluted share in 2005, compared to $8.0 million, or $0.87 per share in the same period last year. Third Quarter Highlights --Net income and earnings per diluted share increased 8% over the third quarter of 2004. --Revenues increased 11% from a year ago to $10.9 million. --Continued success of the High Performance Checking (HPC) program ...See the full content of this document
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