I enjoyed the article about Carol Nelson, former CEO of Cascade Bank, in your Monday Business section. (“OpusBank’s CEO says she’s ready for growth.”) I know she was a highly regarded bank executive in the mid-2000s, during the housing-related boom.
Did you know that Cascade Bank was taken over by OpusBank for about 44 cents a share in 2011? This was after the stock peaked at close to $20 a share in early 2007. I know several people who lost tens of thousands of dollars in their investment in Cascade Bank by continuing to hold onto the stock.
My question to Carol Nelson is this: What will your new bank do differently from Cascade Bank in the mid-2000s to prevent the tremendous loss of capital incurred by Cascade Bank (and many other local banks)?
Thank you in advance for your answer.