Bank of the Cascades in Oregon Freed from Enforcement Action

Regulators have lifted an enforcement action on Bank of the Cascades in Bend, Ore.

Cascade Bancorp (CACB), the holding company for the $1.3 billion-asset bank, said Thursday that the Federal Deposit Insurance Corp. and the Oregon Division of Finance and Corporate Securities have terminated an August 2009 cease-and-desist order with the bank.

The order mandated that Bank of the Cascades' board improve its oversight of the lender and that the bank raise its Tier 1 capital ratio to 10%, among other requirements. The bank had a Tier 1 leverage ratio of 10.45% and a total risk-based capital ratio of 15.39% as of the end of 2012, according to data from the FDIC.

"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," Chief Executive Terry Zink said in a news release. "Importantly, we believe this underscores the improvements in the economies of the communities and customers we serve."

Cascade Bancorp is still under a 2009 written agreement with the Federal Reserve Bank of San Francisco, according to the Federal Reserve's website.

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Consumer banking Law and regulation
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