Cascade Bancorp Inc. in Bend, Ore., restated its second- and third-quarter results because of a miscalculation that understated its loan-loss reserves.

In a Securities and Exchange Commission filing Friday, the $2.4 billion-asset company said that it opted to restate earnings after it discovered a problem with its loan data extract software program that miscalculated the treatment of classified loans that "have been partially participated to other financial institutions."

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