Local business

AAA Service Center to have grand reopening today

The Medford AAA Service Center, 1777 E. Barnett Road, will have a grand reopening and ribbon-cutting ceremony at 10 a.m. today.

AAA Oregon/Idaho President and CEO John Porter, Medford City Councilor Bob Strosser and representatives from the Jackson County Chamber of Commerce will be on hand.

The public is invited to a celebration from 11 a.m. to 1 p.m.

AAA broke ground on the Medford Service Center in 1978.

First-quarter earnings rise 60% for Cascade Bancorp

Cascade Bancorp, parent company of Bend-based Bank of the Cascades, said its first-quarter earnings rose 60 percent, sparked by loan portfolio improvements and reduced costs.

The bank holding company earned $1.7 million, compared with $1.1 million in the first quarter of 2012. The company made no provision for loan losses after recording a $1.1 million provision in the prior-year period as nonperforming assets fell 18 percent, to $21.9 million.

Compiled from staff reports

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