Bank of the Cascades Announces Removal Of Regulatory Order

          Bank of the Cascades Announces Removal Of Regulatory Order

PR Newswire

BEND, Ore, March 7, 2013

BEND, Ore, March 7, 2013 /PRNewswire/ -- Cascade Bancorp (NASDAQ: CACB)
("Company") the holding company for Bank of the Cascades ("Bank"), today
announced that the Bank's regulators have terminated the cease-and-desist
order (the "Order") put in place in August of 2009. The Federal Deposit
Insurance Corporation ("FDIC") and the Oregon Division of Finance and
Corporate Securities ("DFCS") are the Bank's primary regulators. In
connection with the termination of the Order, the Bank has entered into a
memorandum of understanding with its regulators. 

"Relief from the Order underscores significant progress made at Bank of the
Cascades, and is a result of actions taken to strengthen its' financial
position. Importantly, we believe this underscores the improvements in the
economies of the communities and customers we serve," said Terry Zink, CEO.
Termination of the Order recognizes the Bank's improved capital position which
exceeds minimum capital ratios required to qualify as a 'well capitalized'
institution.

Zink continued, "We are very pleased the Bank returned to profitability in
2012." He added, "We will be announcing our year-end and fourth quarter
results prior to the end of March. As we have continued to move forward, we
have also successfully focused our efforts on lending to small business and
consumers." In that regard, the Bank is working hard to honor its commitment
to extend $1 billion in credit between 2012 and 2014. "The revitalization of
our mortgage production in 2012 was a priority accomplishment," said Zink. "In
this lower interest rate climate, a local bank originator of mortgages can
help customers reduce mortgage costs while contributing to the real estate
recovery."

"On behalf of Bank of the Cascades and its many great employees, I would like
to thank the community and our customers for their support over the past
several years in an environment that was challenging to us all," said Ryan R.
Patrick, Chairman of the Board of Directors. "The removal of the Order is a
very positive inflection point in the history of the Bank. Our commitment to
the economic well-being and prosperity of our customers has always been
resolute; we look forward with confidence as we partner with our local
businesses and retail customers into an optimistic future."

About Cascade Bancorp and Bank of the Cascades

Cascade Bancorp (NASDAQ: CACB), headquartered in Bend, Oregon, and its wholly
owned subsidiary, Bank of the Cascades, operate in Oregon and Idaho markets.
Founded in 1977, Bank of the Cascades offers full-service community banking
through 31 branches in Central Oregon, Southern Oregon, Portland/Salem, and
Boise/Treasure Valley. The Bank has a business strategy that focuses on
delivering the best in community banking for the financial well-being of
customers and shareholders. It executes its strategy through the consistent
delivery of full relationship banking focused on attracting and retaining
value-driven customers. For further information, please visit our website at
www.botc.com.

FORWARD LOOKING STATEMENTS

This release contains forward-looking statements about Cascade Bancorp's plans
and anticipated results of operations and financial condition. These
statements include, but are not limited to, our plans, objectives,
expectations, and intentions and are not statements of historical fact. When
used in this report, the word "expects," "believes," "anticipates," "could,"
"may," "will," "should," "plan," "predicts," "projections," "continue" and
other similar expressions constitute forward-looking statements, as do any
other statements that expressly or implicitly predict future events, results
or performance, and such statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Certain
risks and uncertainties and Cascade Bancorp's success in managing such risks
and uncertainties could cause actual results to differ materially from those
projected, including among others, the risk factors described in our annual
report on Form 10-K filed with the Securities and Exchange Commission (the
"SEC") for the year ended December 31, 2011, as well as the following factors:
local and national economic conditions could be less favorable than expected
or could have a more direct and pronounced effect on us than expected and
adversely affect our results of operations and financial condition; the local
housing/real estate market could continue to decline for a longer period than
we anticipate; the risks presented by a continued economic recession, which
could continue to adversely affect credit quality, collateral values,
including real estate collateral and OREO properties, investment values,
liquidity and loan originations, reserves for loan losses and charge offs of
loans and loan portfolio delinquency rates and may be exacerbated by our
concentration of operations in the States of Oregon and Idaho generally, and
Central Oregon, Southern and Northwest Oregon, and the greater Boise/Treasure
Valley, Idaho area, specifically; interest rate changes could significantly
reduce net interest income and negatively affect funding sources; competition
among financial institutions could increase significantly; competition or
changes in interest rates could negatively affect net interest margin, as
could other factors listed from time to time in Cascade Bancorp's SEC reports;
the reputation of the financial services industry could further deteriorate,
which could adversely affect our ability to access markets for funding and to
acquire and retain customers; and existing regulatory requirements , changes
in regulatory requirements and legislation (including, without limitation, the
Dodd-Frank Wall Street Reform and Consumer Protection Act) and our inability
to meet those requirements, including capital requirements and increases in
our deposit insurance premium, could adversely affect the businesses in which
we are engaged, our results of operations and financial condition. These
forward-looking statements speak only as of the date of this release. Cascade
Bancorp undertakes no obligation to publish revised forward-looking statements
to reflect the occurrence of unanticipated events or circumstances after the
date hereof. Readers should carefully review all disclosures filed by Cascade
Bancorp from time to time with the SEC.

SOURCE Cascade Bancorp

Website: http://www.botc.com
Contact: Terry E. Zink, President and Chief Executive Officer, Cascade
Bancorp, +1-541-617-3513
 
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