sc13dskotdal.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. __ )*

Cascade Financial Corporation

(Name of Issuer)

Common Stock

(Title of Class of Securities)

147272108

(CUSIP Number)

Mr. Craig Skotdal

Skotdal Real Estate

2707 Colby Ave Ste 1200

Everett, WA 98201

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

May 1, 2008

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box. o

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 147272108

(1) Names of reporting persons

Craig Skotdal

(2) Check the appropriate box if a member of a group (see instructions)

(a) x

(b) o

(3) SEC use only

(4) Source of funds (see instructions)

(5) Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

(6) Citizenship or place of organization

United States

Number of shares beneficially owned by each reporting person with:

(7) Sole Voting Power 1,043,794 (8.66%)

(8) Shared Voting Power 0 (0%)

(9) Sole Dispositive Power 367,925 (3.05%)

(10) Shared Dispositive Power 0 (0%)

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

1,043,794

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

(13) Percent of Class Represented by Amount in Row (11)

8.66%

(14) Type of Reporting Person (See Instructions)

CUSIP No. 147272108

(1) Names of reporting persons

Andrew Skotdal

(2) Check the appropriate box if a member of a group (see instructions)

(a) x

(b) o

(3) SEC use only

(4) Source of funds (see instructions)

(5) Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

(6) Citizenship or place of organization

United States

Number of shares beneficially owned by each reporting person with:

(7) Sole Voting Power 0 (0%)

(8) Shared Voting Power 0 (0%)

(9) Sole Dispositive Power 346,571 (2.88%)

(10) Shared Dispositive Power 0 (0%)

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

346,571

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

(13) Percent of Class Represented by Amount in Row (11)

2.88%

(14) Type of Reporting Person (See Instructions)

CUSIP No. 147272108

(1) Names of reporting persons

Skotdal Quality Investments, L.L.C.

(2) Check the appropriate box if a member of a group (see instructions)

(a) x

(b) o

(3) SEC use only

(4) Source of funds (see instructions)

(5) Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

(6) Citizenship or place of organization

Washington (See Item 2 for More Information)

Number of shares beneficially owned by each reporting person with:

(7) Sole Voting Power 0 (0%)

(8) Shared Voting Power 0 (0%)

(9) Sole Dispositive Power 243,665 (2.02%)

(10) Shared Dispositive Power 0 (0%)

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

243,665

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

(13) Percent of Class Represented by Amount in Row (11)

2.02%

(14) Type of Reporting Person (See Instructions)

CUSIP No. 147272108

(1) Names of reporting persons

Skotdal Enterprises, Inc

(2) Check the appropriate box if a member of a group (see instructions)

(a) x

(b) o

(3) SEC use only

(4) Source of funds (see instructions)

(5) Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

(6) Citizenship or place of organization

Washington (See Item 2 for More Information)

Number of shares beneficially owned by each reporting person with:

(7) Sole Voting Power 0 (0%)

(8) Shared Voting Power 0 (0%)

(9) Sole Dispositive Power 50,000 (0.042%)

(10) Shared Dispositive Power 0 (0%)

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

50,000

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

(13) Percent of Class Represented by Amount in Row (11)

0.042%

(14) Type of Reporting Person (See Instructions)

CUSIP No. 147272108

(1) Names of reporting persons

Arthur & Marianne Skotdal Revocable Trust

(2) Check the appropriate box if a member of a group (see instructions)

(a) x

(b) o

(3) SEC use only

(4) Source of funds (see instructions)

(5) Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

(6) Citizenship or place of organization

N/A (See Item 2 for More Information)

Number of shares beneficially owned by each reporting person with:

(7) Sole Voting Power 0 (0%)

(8) Shared Voting Power 0 (0%)

(9) Sole Dispositive Power 35,633 (0.030%)

(10) Shared Dispositive Power 0 (0%)

(11) Aggregate Amount Beneficially Owned by Each Reporting Person

35,633

(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

(13) Percent of Class Represented by Amount in Row (11)

0. 030%

(14) Type of Reporting Person (See Instructions)

Item 1. Security and Issuer

Common Stock

Cascade Financial Corporation

2828 Colby Avenue

Everett, WA 98201

Item 2. Identity and Background

(a) Name of Group Member: Craig G. Skotdal

(b) Address: 2707 Colby Ave., Suite 1200, Everett, WA 98201

a real estate development and management firm at 2707 Colby Ave., Suite1200,

Everett, WA 98201.

(d) Criminal convictions within five years: None

(e) Securities law violations within five years: None

(f) Citizenship: U.S.A.

(a) Name of Group Member: Skotdal Quality Investments, L.L.C.

(b) State of Organization: State of Washington.

(d) Principal Business: Passive Investments.

(e) Criminal convictions within five years: None

(f) Securities law violations within five years: None

(a) Name of Group Member: Skotdal Enterprises, Inc.

(b) State of Organization: State of Washington.

(d) Principal Business: Real Estate

(e) Criminal convictions within five years: None

(f) Securities law violations within five years: None

(a) Name of Group Member: Arthur & Marianne Revocable Living Trust

(b) State of Organization: N/A

(d) Principal Business: N/A

(e) Criminal convictions within five years: None

(f) Securities law violations within five years: None

(a) Name of Group Member: Andrew P. Skotdal

(b) Address: P.O. Box 5267, Everett, WA 98206-5267

station with offices at 2707 Colby Ave., Suite 1380, Everett, WA 98201

(d) Criminal convictions within five years: None

(e) Securities law violations within five years: None

(f) Citizenship: U.S.A.

Item 3. Source and Amount of Funds or Other Consideration

All recent purchase reported in Item 4(b) below were for cash with personal funds and not borrowed, and to the best of the undersigned’s knowledge, all shares previously accumulated were purchased for cash from personal funds and not borrowed.

Item 4. Purpose of Transaction

The shares were acquired solely for investment purposes. Members of the group may acquire additional shares for investment. Members of the group have no present plans or proposals for any extraordinary corporate changes or transactions concerning the issuer. However, Craig Skotdal is a member of the board of directors of the Issuer.

Item 5. Interest in Securities of the Issuer.

(a) Based on information received from the Issuer, the aggregate number of shares outstanding of the class identified pursuant to Item 1 is 12,047,927.

Craig Skotdal

Sole Voting Power 1,043,794 (8.66%)

Shared Voting Power 0 (0%)

Sole Dispositive Power 367,925 (3.05%)

Shared Dispositive Power 0 (0%)

(with Andrew Skotdal)

Aggregate Amount Beneficially

Owned by Each Reporting Person 1,043,794 (8.66%)

Andrew Skotdal

Sole Voting Power 0 (0%)

Shared Voting Power 0 (0%)

Sole Dispositive Power 346,571 (2.88%)

Shared Dispositive Power 0 (0%)

(with Craig Skotdal)

Aggregate Amount Beneficially

Owned by Each Reporting Person 346,571 (2.88%)

Skotdal Quality Investments, L.L.C.

Sole Voting Power 0 (0%)

Shared Voting Power 0 (0%)

Sole Dispositive Power 243,665 (2.02%)

Shared Dispositive Power 0 (0%)

Aggregate Amount Beneficially

Owned by Each Reporting Person 243,665 (2.02%)

Arthur & Marianne Skotdal Revocable Living Trust

Sole Voting Power 0 (0%)

Shared Voting Power 0 (0%)

Sole Dispositive Power 35,633 (0.030%)

Shared Dispositive Power 0 (0%)

Aggregate Amount Beneficially

Owned by Each Reporting Person 35,633 (0.030%)

Skotdal Enterprises, Inc.

Sole Voting Power 0 (0%)

Shared Voting Power 0 (0%)

Sole Dispositive Power 50,000 (0.042%)

Shared Dispositive Power 0 (0%)

Aggregate Amount Beneficially

Owned by Each Reporting Person 50,000 (0.042%)

(b)

Craig Skotdal

May 9, 2008

10,000 shares purchased

$10.45/Share

Ordinary Broker Transaction

May 2, 2008

25,000 shares purchased

$10.55/Share

Ordinary Broker Transaction

April 28, 2008

1,000 shares purchased

$11.01/Share

Ordinary Broker Transaction

Andrew Skotdal

May 9, 2008

10,000 shares purchased

$10.45/Share

Ordinary Broker Transaction

May 2, 2008

25,000 shares purchased

$10.55/Share

Ordinary Broker Transaction

April 28, 2008

1,000 shares purchased

$11.01/Share

Ordinary Broker Transaction

Skotdal Quality Investments, L.L.C.

No transactions in last sixty (60) days.

Skotdal Enterprises

May 9, 2008

10,000 shares purchased

$10.45/Share

Ordinary Broker Transaction

May 5, 2008

2,500 shares purchased

$11.05/Share

Ordinary Broker Transaction

May 2, 2008

20,000 shares purchased

$10.55/Share

Ordinary Broker Transaction

Arthur & Marianne Skotdal Revocable Living Trust

May 9, 2008

13,000 shares purchased

$10.45/Share

Ordinary Broker Transaction

Note: shares previously reported as being owned by Arthur W. Skotdal have been transferred to the Arthur & Marianne Skotdal Revocable Living Trust.

Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

Pursuant to the agreement attached hereto as Exhibit 99.1, Craig Skotdal has the right to vote the shares owned by Andrew Skotdal, Skotdal Enterprises, Inc., Skotdal Quality Investments, L.L.C., and Arthur & Marianne Skotdal Revocable Living Trust.

Item 7. Material to be Filed as Exhibits.

EXHIBIT 99.1 VOTING AGREEMENT

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

May 9, 2008	Skotdal Quality Investments, L.L.C.
	by /s/ Craig Skotdal
	Craig Skotdal, Manager

May 9, 2008	/s/ Andrew P. Skotdal
	Andrew P. Skotdal

May 9, 2008	/s/ Craig G. Skotdal
	Craig G. Skotdal

May 9, 2008	Skotdal Enterprises, Inc.
	by /s/ Craig G. Skotdal
	Craig G. Skotdal, President

May 9, 2008	Arthur & Marianne Skotdal Revocable Living Trust
	by /s/ Craig G. Skotdal
	Craig G. Skotdal, Trustee