Cashmere Valley Bank Reports Strong Earnings Totaling $7.4 Million for the Third Quarter and $20.0 Million Year to Date, CEO Elect Len Devaisher Begins His Tenure with the Bank
Key Highlights
- ➤Q3 earnings $7.4 million versus $7.7 million year over year
- ➤Year-to-date diluted EPS $5.43, down 4.1% year over year
- ➤Gross loans $1.156 billion, up 19.8% from September 2025
- ➤Deposits $1.976 billion, up 4.0% from December 2025
- ➤Len Devaisher becomes President and CEO after Greg Oakes retires December 31, 2026
Expert Statements
Greg Oakes, President and CEO of Cashmere Valley Bank
“I was pleased to see an increase in our earnings over the linked quarter.”
Greg Oakes, President and CEO of Cashmere Valley Bank
“In addition to the earnings improvement seen throughout the year, our deposit franchise continues to increase market share.”
Greg Oakes, President and CEO of Cashmere Valley Bank
“Our share of the market in the Chelan and Douglas County MSA improved 1.63 percentage points to 44.95% as of June 30, 2026, reflecting our team's unequaled customer commitment.”
Greg Oakes, President and CEO of Cashmere Valley Bank
“I am also pleased to announce that Len Devaisher has started at the Bank as CEO Elect. Len will assume his role as President & CEO after my retirement on December 31, 2026.”
Len Devaisher, CEO Elect of Cashmere Valley Bank
“I am thrilled to begin my role with Cashmere Valley Bank.”
Len Devaisher, CEO Elect of Cashmere Valley Bank
“This opportunity was compelling because of the capabilities and culture of the institution and its track record of positively impacting its customers and communities.”
Len Devaisher, CEO Elect of Cashmere Valley Bank
“As shown in this quarter's results, that impact translates into benefits for all of our stakeholders.”
CASHMERE, WA / ACCESS Newswire / October 20, 2026 / Cashmere Valley Bank (OTCQX:CSHX) ("Bank"), announced quarterly earnings of $7.4 million for the quarter ended September 30, 2026 as compared to $7.7 million during the third quarter of 2025. Year to date earnings totaled $20.0 million as compared to $22.1 million for the nine months ended September 30, 2025. Year to date diluted earnings per share equaled $5.43, which represented a decrease of $0.23 per share, or 4.1%. Quarterly diluted earnings per share totaled $2.02 in the third quarter, an increase of $0.05 per share, or 2.5%, from the third quarter 2025.
As of September 30, 2026, deposit balances totaled $1.976 billion, an increase of $75.2 million, or 4.0%, from December 31, 2025. From the same period last year, deposit balances increased $78.6 million, or 4.1%.
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