WASHINGTON — The Federal Reserve has ordered Bend, Ore.-based Cascade Bancorp to provide it with a plan to maintain sufficient capital.

The requirement is part of a written agreement between the Fed and the bank holding company, which operates the Bank of the Cascades. The agreement, text of which was released Wednesday, also calls for Cascade Bancorp not to declare or pay any dividends, purchase or redeem shares of its stock or issue new debt without prior written approval from the Fed.

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.