Terry Zink Launches with a Focus on Delivering Loans to Strengthen Local Economies
Last month, Terry E. Zink assumed the role of president and CEO for Cascade Bancorp and Bank of the Cascades. Lasts week, he announced a $1 billion commitment to make loans available to business owners and individuals in the Bank’s Oregon and Idaho markets over the next three years.
“We know that business lending creates jobs and strengthens our local economies,” said Zink. “We’re also looking to expand our personal lending to create full banking relationships with our customers. As a community bank, that’s exactly what we do. We invest in our communities and the people who live here.”
According to Zink, he was drawn to Bank of the Cascades by his fundamental belief in community banking and the opportunities that came along with the Bank’s “well capitalized” status following last year’s $177 million capital raise.
Zink acknowledged the long-term leadership of former Bank President and CEO Patricia L. Moss who provided 35 years of service and decades of leadership to the company. “Patti’s expertise in guiding the Bank through years of success as well as the more recent economic and regulatory challenges has brought us here today,” said Zink. “I am glad to be joining the bank at this pivotal time and looking forward to building a successful future not only for the bank, but for the communities we serve.”
Zink explained that the renewed commitment to lending represents a new era for Bank of the Cascades.
“This is our opportunity to deliver on our promise to further enhance the vitality of the markets we serve in Oregon and Idaho,” said Zink. “To do so, we are aggressively working to deliver business and consumer credit, including mortgages.”
According to Zink, the Bank expects to offer the government’s expanded HARP program in March. The program will provide refinance opportunities for homeowners whose current home value is less than their existing mortgage.
“The Bank has highly experienced mortgage lenders who are providing home loans for jumbo mortgages, first time home buyers, and refinances,” said Zink.
On the business side, Central Oregon is already beginning to experience the benefits of the Bank’s revitalization with new loans, financing and expanded lines of credit.
Bend-based software development firm, GL Solutions, is among the recent examples of business growth resulting from Bank of the Cascades’ commitment to lending. The bank recently expanded GL Solutions’ line of credit from $600,000 to $750,000 making it possible for the company to take on a new contract in North Carolina, creating 40 new jobs in Bend.
“Working with a local bank has had a significant impact on our ability to expand the business,” said Bill Moseley, president, CEO and founder of GL Solutions. “And in Central Oregon, there are only a handful of banks that understand small business. Bank of the Cascades is willing to take the right risks. They looked carefully at our financials and our ability to perform this new contract,” added Moseley.
According to Moseley, his team had worked with a large national bank in the past, making it challenging to maintain relationships.
“Our partnership with GL Solutions is a great example of how local banking benefits our communities,” said Zink. “We’re able to reinvest the resources that our loyal customers have entrusted to us. We use those dollars to create jobs and grow business right here in Central Oregon.”
Another positive sign comes from Bend-based bullet and ammunition manufacturer Nosler, who is also partnering with Bank of the Cascades to expand production in Central Oregon. Nosler recently established lines of credit to purchase equipment that will grow business. According to President and CEO Bob Nosler, the new equipment will allow the company to add another shift and increase operations to 24-hours, five days-a-week.
“It’s a benefit to our business to have the bank’s decision-makers based right here in Central Oregon,” said Nosler. “We don’t have to submit long applications and proposals because we’re not working with loan officers in Chicago or some other state. They know us,” added Nosler. “Business is good and we feel we’ve found a good partner in Bank of the Cascades.”
According to Zink, the Bank plans to continue working closely with customers to identify new opportunities that improve the Central Oregon community by growing businesses, creating jobs and expanding services.
“Our goal is to help strengthen these communities,” said Zink. “It’s really a two-way street. We’re all investing in each other. That’s the beauty of local banking. I appreciate the commitment to ‘buy local’ in the Northwest. We want residents to recognize that banking locally is a prime example of that very core value,” he added.
Zink added that the bank’s team is seeing positive economic signs in Central Oregon and looking forward to expanding lending to local residents and business owners.
“I have quickly learned that this team of dedicated and skilled banking professionals is prepared to be the primary financial services provider in these communities,” said Zink. “It takes an extraordinary group of people to maintain customer loyalty and trust during difficult economic times and the Bank of the Cascades team has done a tremendous job and we are eager to move forward.”
Zink, recently served as president and CEO of Fifth Third Bank Chicago, an affiliate of the Fifth Third Bancorp network. He earned his bachelor of arts degree in business management from Saint Mary’s college of California in Moraga, California. His most recent community appointments include chair of the Metro Chicago Heart Walk (American Heart Association), board of trustees for Adler Planetarium and Advocate Charitable Foundation and the board of directors for the Chicago Chamber of Commerce. According to Zink, one of his most fulfilling community projects has been his board position with After School Matters, a non-profit organization founded by Maggie Daley to bring afterschool programs to youth in Chicago. Zink plans to become involved in local causes and activities in the Northwest as well.
Cascade Bancorp is headquartered in Bend, Oregon, and its wholly-owned subsidiary, Bank of the Cascades, operates in Oregon and Idaho markets. Founded in 1977, Bank of the Cascades offers full-service community banking through 32 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley. The Bank’s team members share a fundamental belief in the value of community banking. Together, they work to serve customers and support the community through financial expertise, volunteerism and relationships.
