Capital Pacific Bank Reports Strong Growth in Third Quarter.PORTLAND Portland, town, England Portland, town (1991 pop. 12,945), Dorset, S England. It is on the Isle of Portland, a small rocky peninsula. Portland stone has been used in St. Paul's Cathedral and other important London buildings. Lobsters and crabs are harvested. , Ore. -- Capital Pacific Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CPFB) has reported a solid third quarter marked by positive momentum in deposits, earnings growth, and loan growth that put Portland's emerging business bank over the $100 million milestone. Total loans grew by a record $16 million during the quarter, to $107.5 million. The bank reported total assets of over $112 million as of September September: see month. 30, 2006. Capital Pacific Bank closed its third quarter with net income of $98,000, bringing net income for the nine months ending September 30 to $168,000. This is the fifth consecutive quarter of profitability for the bank, which opened its doors in late 2003. Net interest margin remained strong at 5.43 percent, up slightly from second quarter. Core deposits grew by $10 million, the strongest quarter of deposit growth this year. "From the outset, Capital Pacific Bank has charted a course for steady, consistent growth, with an emphasis on providing exceptional, responsive service and innovative products, and maintaining good, stable asset quality," said CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Mark C. Stevenson. "The solid foundation we're building has created a platform from which to expand and enhance our services." Capital Pacific Bank (OTCBB:CPFB) serves businesses, professionals and nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. with comprehensive banking solutions and an elite level of service. Headquartered in the Fox Tower in downtown Portland Downtown Portland is located on the west bank of the Willamette River in Portland, Oregon. It is in the northeastern corner of the southwest section of the city and is where most of its high-rise buildings are found. , the bank's full array of products and services are delivered through a strategic combination of highly experienced client service officers and the innovative application of technology. For more information, visit www.capitalpacificbank.com. |
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