Business & Finance
Mon, May 11, 2009Fri, May 8, 2009Thu, May 7, 2009Wed, May 6, 2009Fri, May 1, 2009Thu, April 16, 2009Wed, April 15, 2009Tue, April 14, 2009Mon, April 13, 2009Fri, April 10, 2009Thu, April 9, 2009Wed, April 8, 2009Tue, April 7, 2009Mon, April 6, 2009Sun, April 5, 2009Fri, April 3, 2009Thu, April 2, 2009Wed, April 1, 2009Tue, March 31, 2009Mon, March 30, 2009Sun, March 29, 2009Fri, March 27, 2009Thu, March 26, 2009Wed, March 25, 2009Tue, March 24, 2009Mon, March 23, 2009Fri, March 20, 2009Thu, March 19, 2009Wed, March 18, 2009Capital Pacific Bancorp: Capital Pacific Bancorp CEO Mark Stevenson Appears on FOX Business News "Money for Breakfast"
Published in Business and Finance on Friday, April 3rd 2009 at 15:57 GMT, Last Modified on 2009-11-03 08:56:14 by Market Wire
PORTLAND, OR--(Marketwire - April 3, 2009) - Mark Stevenson, CEO of Capital Pacific Bancorp (
"We're frustrated with the way the perception of TARP has changed. Namely that the 518 banks receiving the $322 billion are being painted with the same brush as AIG," said Stevenson. "Capital Pacific Bancorp was approved for this funding because we are a healthy, financially-stable and well-capitalized institution. We are using the funds as the TARP program originally intended -- to make loans within our local community."
Capital Pacific Bancorp announced on November 6, 2008, that it had received preliminary approval of its $4 million application to participate in TARP. It was one of the first Oregon-chartered banks to receive approval. At the time, the company's capital ratio stood at 13.3%, well in excess of the 10% standard to be considered well capitalized. Funds were received on December 23, 2008, and were put to work for local lending purposes.
"As a small community bank, the $4 million we received from TARP allows us to make a difference in the Portland business community," Stevenson said. "Our preference is to keep the TARP money and use it to continue to support loan growth. That said, we will continue to monitor the rules surrounding TARP, and if they change adversely, we can always consider returning the funds."
To view the April 3, 2009, "Money for Breakfast" program titled "Giving Back TARP Funds," please visit[ http://www.foxbusiness.com/video-search/m/22059411/giving-back-tarp-funds.htm#q=STEVENSON ].
About Capital Pacific Bancorp
Capital Pacific Bancorp (
Forward-looking statements
Statements in this release about future events or performance are forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results of the company to be materially different from any future results expressed or implied by such forward-looking statements. Factors that could affect future results include changes in the financial condition of our borrowers, lack of deposit growth, changes in economic conditions generally, deteriorating asset values caused by changing market conditions, loan losses that exceed our allowance for loan losses and fluctuations in interest rates and the impact those factors may have upon the company and the clients of the company. Other factors include competition for loans and deposits within the company's trade area, and the impact that may have upon growth or income. Although forward-looking statements help to provide complete information about the company, readers should keep in mind that forward-looking statements may be less reliable than historical information. The company undertakes no obligation to update or revise forward-looking statements in this release to reflect events or changes in circumstances that occur after the date of this release.
