Cascade Expects RE-Related Loss Provision

Cascade Bancorp, Bend, Ore., has announced that it expects to record a real-estate-related pretax provision for credit losses of approximately $7.5 million and net chargeoffs of approximately $3.8 million for the fourth quarter.Cascade estimated that its net income will total approximately $5.4 million ($0.19 per share) for the quarter. "The softness in our real estate markets has worsened in the past quarter, putting increased pressure on cash flows of developers and builders of new homes and subdivisions," said Patricia L. Moss, Cascade's chief executive officer. The company's wholly owned subsidiary, Bank of the Cascades, can be found on the Web at http://www.botc.com.