Citing trouble with its construction loans, Cascade Financial Corp. in Everett, Wash., said Thursday that it expects to report a second-quarter loss of $19 million to $21 million.

The $1.7 billion-asset company estimated that it would take a provision for loan losses of $15 million for the quarter, along with a noncash goodwill impairment charge of $12 million on a prior acquisition.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.