Cascade Financial Corporation Plans to Open 16th Branch In Snohomish.Business Editors EVERETT, Wash.--(BUSINESS WIRE)--March 18, 2003 Cascade Financial Corporation (Nasdaq:CASB CASB Cost Accounting Standards Board CASB Colorado Association of School Boards CASB Canadian Aviation Safety Board CASB Catalogs and Surveys Branch CASB Chinese Association at Stony Brook CASB Council for the Advancement of Small Business ), today announced that its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Cascade Bank, has received regulatory approval to add its 16th retail banking office in Snohomish, Washington Snohomish is a city in Snohomish County, Washington, United States. The population was 8,494 at the 2000 census. The mayor of Snohomish is Randy Hamlin, and the city manager is Larry Bauman. . Targeted to open in January 2004, the Snohomish branch will be located at 1101 Avenue "D", Snohomish, Washington. The historic City of Snohomish, founded in 1859, is 8 miles southeast of the bank's downtown Everett headquarters. The city of Snohomish, with both a nationally registered historic homes district and a nationally registered historic commercial district, positions itself as the "Antique Capital of the Northwest." "Our branch expansion strategy is progressing well," said Carol K. Nelson, President and 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. . "We are enthusiastic about the visibility of the new location, and our ability to serve existing and new customers in this community." The branch will be located in the Kla-Ha-Ya Village, which is currently under construction. "As we open the branch in the City of Snohomish, we look forward to an increased presence in a core market," added Nelson. "New branches are an excellent way to attract deposits while greatly increasing convenience for our customers. We will provide the Snohomish market place with Cascade Bank's full range of commercial and consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. products." Established in 1916, Cascade Bank, the only operating subsidiary of Cascade Financial Corporation, is a state chartered commercial bank headquartered in Snohomish County, Washington Snohomish County is a county located in the U.S. state of Washington. It is named after the Snohomish tribe. Since 2000, the county's population has grown from 606,024 to 686,300 residents (2007 figures), making it one of the fastest-growing in the state, ranking third in overall . Cascade's vision is to be the preferred community bank whose employees build relationships to deliver financial solutions with exceptional service. The bank has been locally managed for more than 85 years and has an "Outstanding" Community Reinvestment Act Community Reinvestment Act (CRA) Enacted by Congress in 1977, the CRA encourages banks to help meet the credit needs of their communities for housing and other purposes, particularly in neighborhoods with low or moderate incomes, while maintaining safe and sound operations. rating for serving the credit needs of the local community. Cascade Bank operates 15 full service offices, located in Everett, Lynnwood, Marysville, Mukilteo, Smokey Point, Issaquah, Clearview, Woodinville, Lake Stevens, and Bellevue. |
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