Cascade Financial reports boost in quarterly earnings

Herald staff

EVERETT — Everett-based Cascade Financial Corp. reported Friday that its quarterly earnings increased 5.3 percent from last year’s comparable quarter.

For the three months ending Sept. 30, the holding company for Cascade Bank had net income of $1.028 million, or 18 cents per share.

That compares to 16 cents for the quarter ending Sept. 30, 1999.

Earnings for the latest quarter were up 17 percent from the previous quarter this year.

Company Chairman Frank McCord said he’s pleased with continued growth in assets, deposits and loans. He said the bank has realized significant cost savings with a reorganization of its mortgage lending units.

  • Coke profits up: The Coca-Cola Co., boosted by stronger overseas sales, reported a better-than-expected 36 percent increase in third quarter earnings but warned that a weak euro could put pressure on its earnings next year. Coke said Friday it earned $1.07 billion, or 43 cents per share, for the three months that ended Sept. 30. In the same period last year, Coke earned $787 million, or 32 cents per share.

  • Friday prices: Gold sold for $270.45 a troy ounce, silver sold for $4.87 and platinum sold for $601.50.

  • Time buys sports mags: Time Inc., the nation’s largest magazine company, is paying Tribune Co. $475 million for a magazine group that includes Golf, Field &amp Stream, Ski and Outdoor Explorer. The deal announced Friday makes Time Inc., the publisher of Sports Illustrated, an even bigger player in sports publishing. It also gives the company an entree into the growing market for fringe sports with niche titles catering to motocross, snowboarding and surfing enthusiasts.
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