Cashmere Valley Bank nine-month earnings fall 9% year on year to $20.05 million
CSHX•Cashmere Valley Bank’s nine-month earnings fell 9% year over year to $20.05 million. Net interest income rose to $52.37 million, while gross loans increased 20% to $1.16 billion as of September 30.
1. Earnings and lending
Third-quarter earnings fell year over year to $7.38 million, while nine-month net interest income rose to $52.37 million. Credit-loss provision expense climbed 43% to $3.02 million. Gross loans were $1.16 billion on September 30, up 20% year over year, and deposits stood at $1.98 billion.
2. Leadership transition
CEO-elect Len Devaisher will become president and CEO following Greg Oakes’ retirement on December 31, 2026.
