Cashmere Valley Bank Delivers Strong Third-Quarter Profits Amid Leadership Transition
Cashmere, Wednesday, 21 October 2026.
Cashmere Valley Bank generated $7.4 million in third-quarter profit as CEO-elect Len Devaisher begins his tenure, supported by robust 19.8% annual loan growth.
Third-Quarter Earnings and Executive Leadership
Cashmere Valley Bank (OTCQX: CSHX) reported net income of $7.4 million for the quarter ended September 30, 2026, with the report released on October 20, 2026 [1]. Year-to-date earnings reached $20.0 million, reflecting continued profitability despite broader macroeconomic headwinds [1]. Diluted earnings per share for the quarter stood at $2.02, marking a 2.5% increase for the quarter compared to the previous period [1]. This financial announcement coincides with the commencement of Len Devaisher’s tenure as CEO Elect [1]. Devaisher is scheduled to assume the role of President and CEO following the retirement of Greg Oakes on December 31, 2026 [1].
Balance Sheet Growth and Deposit Metrics
As of September 30, 2026, total deposits reached $1,975,969 thousand, showing growth from $1,897,326 thousand on September 30, 2025 [1]. This represents a year-over-year increase calculated as 4.145 [1]. Gross loans totaled $1.156 billion, reflecting a 19.8% increase year-over-year [1]. Total assets were reported at $2,338,222 thousand as of the end of the third quarter [1]. The bank’s net interest margin for the quarter was 3.25%, an improvement from 3.15% in the third quarter of 2025 [1].
Strategic Outlook and Market Position
Cashmere Valley Bank operates 11 retail offices across Chelan, Douglas, Kittitas, and Yakima Counties [1]. Construction of a new full-service branch in East Wenatchee is underway, with an expected opening in the first half of 2027 [1]. The bank’s market share in the Chelan and Douglas County MSA was 44.95% as of June 30, 2026 [1]. Capital metrics include a 10.3% equity-to-assets ratio as of September 30, 2026 [1]. The financial statements released were unaudited [1].