Bank of the Cascades (merged into First Interstate Bank)
Bank of the Cascades reported total assets of $3.3 bn at Q2 2017, its last Call Report before it merged into First Interstate Bank. The CET1 capital ratio at Bank of the Cascades was 10.53%, and the uninsured share of Bank of the Cascades was 26.70%. Source: FDIC Call Reports.
Key takeaways
- Since , Bank of the Cascades has taken over one institution; the latest was Prime Pacific Bank, National Association on (FDIC Call Reports).
What sets Bank of the Cascades apart
How large is Bank of the Cascades?
The balance sheet of Bank of the Cascades at : assets $3.3 bn, deposits $2.8 bn, net loans $2.1 bn (loans equal to 75.01% of deposits). Securities make up 14.2% of total assets at Bank of the Cascades. Since , when Bank of the Cascades held $3.0 bn, its assets grew 11.8%. In the year to , deposits at Bank of the Cascades rose 7.5% while its total assets rose 12.4%. At , Bank of the Cascades employed 607 full-time equivalent staff across 53 offices, about $5.5 mn of assets per employee and $51.9 mn of deposits per office.
How much funding at Bank of the Cascades is uninsured?
At Bank of the Cascades, uninsured deposits (above the FDIC limit) made up 26.70% of domestic deposits at (+12.86 pp on a year earlier). In dollars, Bank of the Cascades estimated $734.7 mn of uninsured deposits.
Key facts, Q2 2017
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $2.8 bn | $2.6 bn (Q2 2016) | |
| Net loans and leases | $2.1 bn | $1.9 bn (Q2 2016) | |
| Loan-to-deposit ratio | 75.01% | 73.41% (Q2 2016) | |
| Tier 1 leverage ratio | 8.12% | 7.84% (Q2 2016) | |
| Total risk-based capital ratio | 10.53% | 11.00% (Q2 2016) | |
| Net interest margin | 0.69% | 3.61% (Q2 2016) | |
| Return on assets (ROA) | 0.19% | 0.56% (Q2 2016) | |
| Efficiency ratio | 59.06% | 77.06% (Q2 2016) | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $139,000 | Fell by $6.3 mn | |
| Unrealized gain/loss on available-for-sale securities | Gain of $1.1 mn | Fell by $2.6 mn | |
| Noncurrent loans to total loans | 0.16% | 0.64% (Q2 2016) | |
| Net charge-offs to average loans | 0.00% | -0.03% (Q2 2016) |
US rank of Bank of the Cascades: 1 = highest unless marked 1 = lowest.
Balance sheet
Bank of the Cascades: assets, deposits and loans
- Total assets $3.3bn
- Deposits $2.8bn
- Net loans $2.1bn
Capital and securities
The CET1 ratio of Bank of the Cascades stood at 10.53% in , +0.65 pp year on year. Low and high at Bank of the Cascades since : 9.88% () to 10.63% (). Equity capital of Bank of the Cascades at : $518.0 mn, or 15.6% of total assets. Bank of the Cascades also reported a total capital ratio of 10.53% for , and a tier 1 leverage ratio of 8.12%.
On held-to-maturity securities, Bank of the Cascades carried an unrealized gain of $139,000 at , equal to 0.0% of equity capital. The gain fell by $6.3 mn over the year. The available-for-sale portfolio of Bank of the Cascades showed an unrealized gain of $1.1 mn at ; the gain fell by $2.6 mn over the year.
Bank of the Cascades: capital ratios
- Total capital 11%
- CET1 11%
- Tier 1 leverage 8.1%
Bank of the Cascades: unrealized securities gains and losses
- Available for sale $1mn
- Held to maturity $139,000
Profitability and loan quality
For the year to , Bank of the Cascades earned a return on equity of 1.47%; return on assets: 0.19%. Net interest margin at Bank of the Cascades: 0.69%, -2.92 pp in a year. Bank of the Cascades net income: $3.0 mn, down 61.3% year on year. The efficiency ratio of Bank of the Cascades was 59.06%: about 59 cents cost per revenue dollar, against 58 cents at the median peer.
At , noncurrent loans were 0.16% of total loans at Bank of the Cascades; net charge-offs: 0.00% of average loans. Gross loans and leases at Bank of the Cascades: $2.1 bn at , against $1.9 bn at .
Bank of the Cascades: profitability
- Return on equity 1.5%
- Net interest margin 0.7%
- Return on assets 0.2%
Peer group of Bank of the Cascades
The peer group of Bank of the Cascades is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 4 share the charter type of Bank of the Cascades (state nonmember bank) and 0 have head offices in Oregon. Against them, Bank of the Cascades shows CET1 ratio 10.53% against a peer median of 12.84%, return on equity 1.47% against a peer median of 13.62% and uninsured deposit share 26.70% against a peer median of 32.57%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| FirstBank | State member bank | TN | $3.3 bn | 11.34% | 12.89% | 44.89% | |
| Park Sterling Bank | State nonmember bank | NC | $3.3 bn | 12.86% | 8.80% | 25.03% | |
| Morton Community Bank | State nonmember bank | IL | $3.3 bn | 13.57% | 14.36% | 19.27% | |
| Bank of the Cascades | State nonmember bank | OR | $3.3 bn | 10.53% | 1.47% | 26.70% | |
| Bank of Colorado | State nonmember bank | CO | $3.3 bn | 12.82% | 16.04% | 32.51% | |
| John Deere Financial, f.s.b. | Federal savings bank | WI | $3.3 bn | 14.15% | 14.94% | 99.98% | |
| Horizon Bank | State nonmember bank | IN | $3.3 bn | 12.69% | 9.44% | 32.63% | |
. FDIC Call Reports.
Last eight quarters
Two years at Bank of the Cascades, to : assets $3.0 bn to $3.3 bn, deposits $2.6 bn to $2.8 bn, equity $331.5 mn to $518.0 mn. Staff 612 to 607; offices 56 to 53.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 | Q4 2016 | Q1 2017 | Q2 2017 |
|---|---|---|---|---|---|---|
| Total assets | $3.0 bn | $3.0 bn | $3.2 bn | $3.1 bn | $3.1 bn | $3.3 bn |
| Total deposits | $2.6 bn | $2.6 bn | $2.7 bn | $2.7 bn | $2.7 bn | $2.8 bn |
| Bank equity capital | $331.5 mn | $337.3 mn | $359.2 mn | $360.4 mn | $369.1 mn | $518.0 mn |
| CET1 ratio | 10.22% | 9.88% | 10.21% | 10.31% | 10.63% | 10.53% |
| Return on equity (ROE) | 2.99% | 4.74% | 5.02% | 5.71% | 8.10% | 1.47% |
| Uninsured share of domestic deposits | 13.64% | 13.84% | 26.21% | 25.22% | 25.71% | 26.70% |
| Full-time equivalent employees | 612 | 637 | 618 | 615 | 607 | 607 |
| Number of offices | 56 | 52 | 57 | 57 | 53 | 53 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Bank of the Cascades, oldest first; figures before and after each event are not like for like.
- . Absorbed Prime Pacific Bank, National Association (FDIC certificate 34022).
- . Merged into First Interstate Bank (FDIC certificate 1105).
Questions and identifiers
What were the total assets of Bank of the Cascades?
Bank of the Cascades reported $3.3 bn at in its Call Report.
Is Bank of the Cascades the same as its holding company?
No. This page covers Bank of the Cascades, FDIC certificate 22407; FIRST INTRST BANCSYSTEM (as reported to the FDIC), its holding company, reports separately to the Federal Reserve.
Is Bank of the Cascades profitable?
Bank of the Cascades reported net income of $3.0 mn for the year to ; annualized return on equity: 1.47%. So yes: Bank of the Cascades made a profit over these months.
When is data for Bank of the Cascades next updated?
Bank of the Cascades no longer files Call Reports; its data ends at .
Where can I check the figures for Bank of the Cascades?
In the FDIC BankFind Suite record for certificate 22407, and in the Call Reports of Bank of the Cascades (RSSD ID 17464) at the FFIEC Central Data Repository.