In the 1946–47 season, the Indians posted the best overall record, but finished second in the round-robin playoffs to the Bellingham Fircrests. When the Fircrests declined an invitation to the World Professional Basketball Tournament in Chicago, the Indians went instead, but lost to the Sheboygan Redskins in the first round.
In the 1947–48 season, the Indians entered the round-robin playoffs as a wildcard team, eventually reaching the best-of-five championship series against the Seattle Athletics. Portland won the first two games in Seattle, and Seattle won the third game in Portland. The fourth game was also played in Portland. With Portland leading 81–80 with 20 seconds left, the timekeeper sounded the final buzzer as Seattle's Al Brightman scored an open layup. Whether or not this was done inadvertently is not known, but the basket was disallowed and Portland was initially given the victory. Eventually, both teams agreed to replay the game two days later and Portland won the game 76–74, and with it, the championship.