Oregon

When Pacific Continental says it is going to be picky, it has credibility. After all, the $1.1 billion-asset company in Eugene, Ore., has made only one acquisition since 1972.

PremierWest Bancorp in Medford, Ore., is extending its public stock offering by two days to April 2. The $1.56 billion-asset company started the offering last Monday to raise $17.3 million.

With a regulatory order headed its way, PremierWest Bancorp is trying to get out in front of its capital problems. The $1.56 billion-asset company in Medford, Ore., announced Monday that it would try to raise as much as $17.3 million in capital through a public stock offering.

In what would be the biggest credit union merger to date, Addison Avenue Federal Credit Union and First Tech Credit Union have announced an agreement to combine and create a credit union with almost $5 billion of assets.

State regulators shut two banks on Friday, bringing the year's total failures to 22. The failures are expected to cost the Deposit Insurance Fund $103.1 million.

Cascade Bancorp's largest shareholder, in affiliation with a PE firm, agreed to invest $65 million into the struggling bank — but only if it found capital elsewhere first.

Small banks face myriad and often frustrating obstacles to acquiring failed banks. But some smart strategies have separated the successful bidders from the rest, including raising excess capital well before a bid, targeting fewer and smaller banks, tracking enforcement actions of potential failures and bringing in well-seasoned management to see a deal through.

Flush with capital and newly liberated from the Treasury's Tarp restrictions, Umpqua Holdings Corp. is embarking on a consolidation quest in the Pacific Northwest.

Weeks after raising $303.6 million, Umpqua Holdings Corp. in Portland, Ore., announced late Wednesday that it had repurchased securities issued to the Treasury Department under the Troubled Asset Relief Program.

Albina Community Bancorp in Portland, Ore., Friday reported losing $1.8 million in the fourth quarter, compared with a $60,000 loss for the same period in 2008.

With more bank failures expected in the Pacific Northwest, Umpqua Holdings Corp. in Portland, Ore., announced late Tuesday that it plans to raise $215 million in new equity that could be used to buy failed banks.

WASHINGTON — Regulators seized five banks in as many states Friday, bringing the 2010 failure total to nine.

Pacific West Bank of West Linn., Ore., has restated its results for the second quarter to show a net loss more than five times the loss originally reported.

Starting Jan. 1 institutions that are less than well-capitalized must comply with new restrictions on deposit rates. They will not be allowed to pay more than 75 basis points over a national average calculated by the Federal Deposit Insurance Corp.

With its bank unit low on capital, PremierWest Bancorp in Medford, Ore., is planning to raise up to $36 million in a rights offering.

Donald Marron, whose Lightyear Capital LLC agreed to inject $40 million into Cascade, said that his team has met with roughly 150 management teams at midsize community banks in the past year.

In reporting a $12.6 million third-quarter loss, Cascade Bancorp also announced it has a second regulatory order — private-equity firm willing to give it an infusion.

West Coast Bancorp of Lake Oswego, Ore., one of many struggling institutions in the Pacific Northwest, said Monday it managed to raise all the capital it needed to satisfy regulators — and then some.

Citing the possibility of regulatory orders that might impose higher capital requirements, three West Coast banking companies are moving forward with stock offerings.

Cascade Bancorp in Bend, Ore., needs to raise about $100 million by one estimate, and the task just took on more urgency.