Cascade Bancorp Announces EPS of $(0.12)

Cascade Bancorp CACB: The Company had a net loss of ($0.12) per share or ($3.4 million) for the third quarter 2010, compared to ($0.01) per share or ($0.3 million) for the linked-quarter. Compared to the linked-quarter the increased loss primarily resulted from lower net interest income of $1.1 million which was related to the decline in earning loan volumes and an IRS related tax adjustment of $1.1 million. Non-interest income decreased $0.8 million during the third quarter of 2010 when compared to the linked-quarter mainly due to a reduction in mortgage revenue of approximately $0.4 million. When compared to the year-ago period non-interest income was down $5.1 million primarily due to a one-time $3.2 million gain recorded on the sale of the Bank's credit card merchant business recorded in the year-ago period. Compared to the linked-quarter, non-interest expense was down by $1.0 million or 5.5% because of lower FDIC and OREO related expenses. In addition, salaries and benefits cost were down $0.2 million or 3.1% from the prior quarter.