Cascade Bancorp Announces Withdrawal Of Common Stock Offering
6:00pm EST
Cascade Bancorp announced that it has withdrawn its registration statement with respect to the public offering of $93 million of its common stock. The Company plans to continue to pursue capital raising opportunities once market conditions become more favorable. On October 29, 2009, the Company entered into securities purchase agreements with David F. Bolger (Mr. Bolger) and an affiliate of Lightyear Fund II, L.P. (Lightyear) for the purchase and sale of an aggregate of $65 million of shares of the Company's common stock. Mr. Bolger and Lightyear are permitted to terminate those securities purchase agreements on December 31, 2009. Lightyear and Mr. Bolger have indicated a willingness, under certain conditions, to amend these arrangements in order to provide the Company additional time to implement a capital raise.
Hi All...
Turned off comments, a little late. I'll take down the blog at years end. Also got an XML download of the blog, which clocked in at just over 80 megs. Not sure if that includes comments... seems like it should, at that size. Maybe try to upload it to a file storage site.
Rest assured, Bend is still #1!
Bend reports nation’s biggest home decline in Q3
December 18, 2009, 1:37PM
1. Bend reports nation’s biggest home decline in Q3:Yes, prices are still falling the Bend. They tumbled 5.6 percent between the second and third quarter, the biggest decline in the country. Las Vegas was right behind Bend, down 5 percent. That’s according to the IHS Global Insight “House Prices in America” report out today. Much of the nation is starting to emerge from the depths of the housing recession. But the Northwest, late to the housing bubble, continues to be the last to see the price declines wash through. IHS still considers much of the Northwest to be overvalued. Of the top 20 overvalued markets, nine are in Oregon or Washington. The Portland-Vancouver market ranks worst in Oregon at No. 7. Corvallis is No. 9, Salem is No. 10 and Bend is No. 19. IHS says home prices nationally halted a two-year slide in the third quarter, rising .2 percent from the second quarter. California led the way with a 2.1 percent increase. Nationwide, the U.S. housing market is down 10.7 percent from the 2007 peak. Despite the upbeat news, IHS also warned of potential troubles ahead given the still high unemployment rate and the temporary boost the market got from the federal tax credit.
