Cascade Bancorp (CACB) Tops Q2 EPS by 1c

Cascade Bancorp (NASDAQ: CACB) reported Q2 EPS of $0.07, $0.01 better than the analyst estimate of $0.06. Revenue for the quarter came in at $19.8 million versus the consensus estimate of $25.62 million.

"Cascade's progress continues to be evident on many fronts. We achieved a double-digit rate of organic loan growth during the second quarter, reflecting improved levels of business activity in our footprint and strong execution by our bankers," said Terry Zink, President and CEO. "This growth is coupled with sustained progress in expanding our enviable core deposit franchise. In addition, non-interest revenue momentum has continued in high value business lines such as mortgage, card/merchant services, SBA, and customer interest rate swaps. Together with solid loan pipelines, this progress bodes well for continued revenue growth."

For earnings history and earnings-related data on Cascade Bancorp (CACB) click here.

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