High Desert Bank Sells Majority Shares and is Re-Capitalized

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Community bank in Bend has new majority shareholders. The board of directors is comprised of six local business leaders in the community and will continue to be managed and operated locally.  Board members are Gwil T. Evans (owner of Professional Air), Gary L. Everton (Partner at Trimble, Everton, Farrens, and Mode, LLP), Gary D. Fish (Owner-Deschutes Brewery), Cynthia L. Kane Ph.D. (Owner-Kane Health Care Consulting, LLC) and Romy E. Mortensen (VP Sales & Marketing-Brooks Resources).

 

High Desert Bank, a local community bank in Bend,  has finalized a transaction involving the purchase of the Bank’s majority shareholder’s interest by several individual investors. The investors contributed additional capital to the Bank of $1.4 million.

“High Desert Bank, one of only two community banks based in Central Oregon, is well capitalized and ready to grow,” states Cynthia Kane, chair of the board. “With the additional capital, the board of directors plans to expand the Bank’s product and service offering by continuing as a community bank in the local marketplace with an additional focus on mortgage banking.  Both are expected to contribute to earnings through the generation of net interest income and fee income.

High Desert Bank was formed in 2007.  The board of directors is comprised of six local business leaders in the community and will continue to be managed and operated locally.

Board members are Gwil T. Evans (owner of Professional Air), Gary L. Everton (Partner at Trimble, Everton, Farrens, and Mode, LLP), Gary D. Fish (Owner-Deschutes Brewery), Cynthia L. Kane Ph.D. (Owner-Kane Health Care Consulting, LLC) and Romy E. Mortensen (VP Sales & Marketing-Brooks Resources).

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Founded in 1994 by the late Pamela Hulse Andrews, Cascade Business News (CBN) became Central Oregon’s premier business publication. CascadeBusNews.com • CBN@CascadeBusNews.com

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