West Coast Bancorp released their earnings this morning. They took yet another loss ($12.4MM this time), and they also announced that they entered into an agreement regarding the C&D that the FDIC has issued.

At the same time, they were able to announce that they had raised $155MM in capital. This raised their Tier 1 from 10.75% to %17.01. This helps to bring them into compliance with a portion of the C&D. It appears as though they have taken appropriate action to begin complying with all points of the C&D.

On 10/8 Cascade Bancorp (CACB), filed an S-1 with the SEC. in which it announced it's intentions to sell up to $70MM of it's common stock in order to help support regulatory capital needs (due to the C&D which was issued by the FDIC.

Contrast this to CBBO. The C&D was issued early this year (they became aware it would be issued late last year). Since that time, the only action the bank appears have taken is to move the operations to The Dalles from Vancouver (in an attempt to cut down operating costs), however the leases are still in place on both the Broadway location and the DeAngelo building. They have cut down performing assets in an attempt to reduce the portfolio, but are stuck with the NPA. The % of NPA at the end of Q2 was over 12% and I can't imagine it will be any better after earnings are reported this quarter.

Further, the bank refuses to actually communicate with it's investors. At least other institutions who are in trouble are still holding conference calls. I don't think CBBO has done that since the first large loss back in 07. They have announced no plan to deal with the capital situation.

I know that many were happy when Roger was axed from the bank. In his place we get Terry, who was on the board, and continually approved of what was happening with the bank during the huge buildup of A&D, construction, and CRE. Most of the other Executives have left to go elsewhere, and many of the Loan Officers have left to safer pastures.

Sorry for the length of this, but seeing this institution, with it's history and great market share in the gorge, reduced to limping along while the people running the bank do nothing but wait for the end.