Cascade Financial Schedules Fourth Quarter Conference Call for January 28; Anticipates Record Profits for 2003.Business Editors EVERETT, Wash.--(BUSINESS WIRE)--Jan. 13, 2004 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 ), will report its fourth quarter and 2003 annual results on Tuesday, January 27, 2004, following the market close. 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. , and Lars Johnson, CFO See Chief Financial Officer. , will review the bank's results and discuss its growth strategies on a conference call on Wednesday, January 28, 2004, at 10:00 a.m. PT (1:00 P.M. ET). Interested investors may listen to the call live at www.cascadebank.com. Replay of the call will be available through Wednesday, February 4, 2004, at 1-303-590-3000 (Access Code 566550#). The call will also be on the Web at www.cascadebank.com through April 2004. CASB 2003 Preview -- Record Profits: Cascade expects to report its thirteenth consecutive record quarterly profit for the fourth quarter of 2003. -- Meets Expectations: The company expects to report 2003 profits in line with the current range of published estimates by sellside analysts of $1.12 to $1.13 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share. -- Solid 2003 Performance: Results in 2003 were fueled by expanding profit margins, strong asset quality and increased market share in the commercial banking sector. -- Attractive Valuation: At $17.00, CASB is trading at approximately 15 times earnings, 2.2 times book value, and offers a 1.65% annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. yield. ABOUT CASB Established in 1916, Cascade Bank, the only 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. 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. In June 2003, Cascade Bank was voted the #1 medium-sized "Best Company to Work For" by Washington CEO magazine. 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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