Originally published Monday, November 3, 2008 at 12:00 AM
Cascade Financial will tap Treasury for capital infusion
Cascade Financial of Everett said it will receive about $39 million from the U.S. Treasury's program to buy shares in regional banks.
Seattle Times business reporter
Cascade Financial said it will receive about $39 million from the U.S. Treasury's program to buy shares in regional banks. The program extends to smaller banks the kind of government support first provided last month to Bank of America, JPMorgan Chase and seven other top banks.
Cascade, the Everett-based parent of Cascade Bank, will sell the government senior preferred shares and warrants.
"Additional capital expands our ability to provide increased credit to businesses and consumers in our market area and adds flexibility in considering strategic opportunities that meet our disciplined criteria that may become available as the industry undergoes change," CEO Carol Nelson said in a press release.
Last week, Washington Federal of Seattle said it would receive a $200 million capital infusion through the Treasury program.
Melissa Allison: 206-464-3312 or mallison@seattletimes.com
Copyright © 2008 The Seattle Times Company
UPDATE - 09:46 AM
Exxon Mobil wins ruling in Alaska oil spill case
UPDATE - 09:32 AM
Bank stocks push indexes higher; oil prices dip
UPDATE - 08:04 AM
Ford CEO Mulally gets $56.5M in stock award
UPDATE - 07:54 AM
Underwater mortgages rise as home prices fall
NEW - 09:43 AM
Warner Bros. to offer movie rentals on Facebook

general classifieds
Garage & estate salesFurniture & home furnishings
Electronics
just listed
Adorable Bull Terrier puppies for good home...
AKC Great Dane Puppies Ready
AKC PAL/ILP Registered Labs
More listings
POST A FREE LISTING
- Lakewood cop accused of embezzling $150K meant for slain officers' families
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- Social worker recounts minutes before Powell fire
- Agency set to investigate handling of 911 call about Josh Powell
- Quick decisions: How Washington hired its new football staff
- Council members get briefing on arena proposal, minus details
- Historic day for gay marriage as another fight looms
- Justin Wilcox's versatile defensive style is the right fit for Huskies | Jerry Brewer
- It's Terrence Time: Enigmatic Ross leads Huskies
- Washington men walloped by Oregon, 82-57
- Gay-marriage bill passes House, awaits Gregoire's signature
505 - Wanted in Seattle classrooms: more teachers of color
404 - AP Source: Obama to change birth control rule
359 - Council members get briefing on arena proposal, minus details
357 - Oregon live game thread
155 - Worker: Josh Powell told son he had 'surprise'
113 - Rough road again
108 - A few late-night notes
96 - USA Today further spells out how Mariners, handful of clubs next in line for huge cash windfall
76 - Marijuana legalization initiative set to go on Nov. ballot
74
- Wanted in Seattle classrooms: more teachers of color
- State Medicaid program to stop paying for unneeded ER visits
- 3 big health insurers stockpile $2.4 billion as rates keep rising
- Economy, blogs give survivalists new reason to look to Northwest
- State's share of mortgage settlement: $648 million
- Bellevue College adds a third bachelor's degree program
- Darren Berg gets 18-year sentence for Ponzi scheme
- One man's audacious pursuit of sailing history
- $25B settlement reached over foreclosure abuses
- 'Gauguin and Polynesia': dazzling mix-and-match | Art review
