EVERETT, Wash., July 16, 2007 (PRIME NEWSWIRE) -- Cascade Financial Corporation (Nasdaq:CASB), parent company of Cascade Bank, today announced its inclusion in the prestigious Sandler O'Neill and Partners Bank and Thrift Sm-All Stars -- Class of 2007. Sandler O'Neill has identified Cascade as one of the top performing, publicly traded small-cap banks and thrifts in the nation.
In its "Class of 2007 Bank and Thrift Sm-All Stars" report, Sandler O'Neill recognized Cascade among the top 24 best performing small capitalization institutions from a field of 610 publicly traded banks and thrifts in the U.S. with market capitalizations less than $2 billion. In making their selections, Sandler focused on growth, profitability, credit quality and capital strength. Commenting on this year's selection, Sandler O'Neill said, "The performance metrics of the 24 institutions are outstanding, with the Class of 2007 delivering bottom line results that are markedly better than the industry as a whole."
"It is an honor to be named among the finest community banks in the country," stated Carol K. Nelson, President and CEO. "We will maintain the same commitment to exceptional banking that has helped us achieve solid returns for our shareholders. Sticking to the basics -- building a high-performing loan portfolio largely funded by core deposits -- should help us continue to increase earnings per share and shareholder wealth."
Sandler O'Neill is a full-service investment banking firm to the financial industry. The firm is a market-maker in hundreds of financial stocks and publishes equity and fixed income research focused on selected banks, thrifts and insurance companies, including equity research coverage on CASB. Additional information can be found on their website at www.sandleroneill.com.
About Cascade Financial
Established in 1916, Cascade Bank, the only operating subsidiary of Cascade Financial Corporation, is a state chartered commercial bank headquartered in Everett, Washington. Cascade Bank has proudly served the Puget Sound region for over 90 years and operates 20 full service branches in Everett, Lynnwood, Marysville, Mukilteo, Shoreline, Smokey Point, Issaquah, Clearview, Woodinville, Lake Stevens, Bellevue, Snohomish and North Bend.