Cascade Financial Corporation · Everett, WA United States ·(NASDAQ (GS): CASB)
Company Description
Phone: 425-339-5500
Fax: 425-259-8512
Toll Free: 800-326-8787
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This link will open in a new window Cascade Financial is the holding company for Cascade Bank, which operates almost 20 branches in Washington State's Puget Sound area. Founded in 1916, the bank offers such deposit products as checking, savings, and money market accounts, as well as CDs and IRAs. Funds gathered are used primarily to originate business loans (more than 40% of the company's loan portfolio), construction loans (more than 30%), commercial and residential mortgages, and consumer loans. The bank also issues Visa credit cards. It offers investment services through an agreement with Stockcross Financial Services. To read the full description, subscribe now.
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Key Cascade Financial Corporation Financials
| Company Type | Public - NASDAQ (GS): CASB Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $54.8 |
| 2008 Employees | 216 |
Cascade Financial Corporation Executives
25 executives listed for Cascade Financial Corporation's Everett, WA location.
| Title | Name & Bio | Contact |
| Chairman | Dennis Murphy | Network |
| Vice Chairman | David Duce | Network |
| President, CEO, and Director; President and CEO, Cascade Bank | Carol Nelson | Network |
Competition
Competitive Landscape for Cascade Financial Corporation
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Cascade Financial Corporation Competitors
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