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.

    Talk to us

  • More in Local News

    FILE - A sign hangs at a Taco Bell on May 23, 2014, in Mount Lebanon, Pa. Declaring a mission to liberate "Taco Tuesday" for all, Taco Bell asked U.S. regulators Tuesday, May 16, 2023, to force Wyoming-based Taco John's to abandon its longstanding claim to the trademark. (AP Photo/Gene J. Puskar, File)
    Hepatitis A confirmed in Taco Bell worker in Everett, Lake Stevens

    The health department sent out a public alert for diners at two Taco Bells on May 22 or 23.

    VOLLI’s Director of Food & Beverage Kevin Aiello outside of the business on Friday, May 19, 2023 in Marysville, Washington. (Olivia Vanni / The Herald)
    Coming soon to Marysville: indoor pickleball, games, drinks

    “We’re very confident this will be not just a hit, but a smash hit,” says co-owner Allan Jones, who is in the fun industry.

    Everett
    Detectives: Unresponsive baby was exposed to fentanyl at Everett hotel

    An 11-month-old boy lost consciousness Tuesday afternoon. Later, the infant and a twin sibling both tested positive for fentanyl.

    Cassie Franklin (left) and Nick Harper (right)
    Report: No wrongdoing in Everett mayor’s romance with deputy mayor

    An attorney hired by the city found no misuse of public funds. Texts between the two last year, however, were not saved on their personal phones.

    Firearm discovered by TSA officers at Paine Field Thursday morning, May 11, 2023, during routine X-ray screening at the security checkpoint. (Transportation Security Administration)
    3 guns caught by TSA at Paine Field this month — all loaded

    Simple travel advice: Unpack before you pack to make sure there’s not a gun in your carry-on.

    Heavy traffic northbound on 1-5 in Everett, Washington on August 31, 2022.  (Kevin Clark / The Herald)
    To beat the rush this Memorial Day weekend, go early or late

    AAA projects busy airports, ferries and roads over the holiday weekend this year, though still below pre-pandemic counts.

    Logo for news use featuring the municipality of Snohomish in Snohomish County, Washington. 220118
    Troopers: DUI crash leaves 1 in critical condition in Maltby

    A drunken driver, 34, was arrested after her pickup rear-ended another truck late Tuesday, injuring a Snohomish man, 28.

    Housing Hope CEO Donna Moulton raises her hand in celebration of the groundbreaking of the Housing Hope Madrona Highlands on Tuesday, May 23, 2023 in Edmonds, Washington. (Olivia Vanni / The Herald)
    $30M affordable housing project to start construction soon in Edmonds

    Once built, dozens of families who are either homeless or in poverty will move in and receive social and work services.

    Smoke comes out of the roof of ReMyx'd, a restaurant on Smokey Point Drive, on Sunday, May 28, 2023, in Arlington, WA. (IAFF Local 3438)
    Fire damages Arlington bar that received death threats

    Arlington Police say initial indications are that fire at ReMyx’d does not appear to be intentionally set.

    Most Read