Followers | 240 |
Posts | 12053 |
Boards Moderated | 0 |
Alias Born | 04/05/2009 |
Monday, May 19, 2014 2:27:17 PM
BEND, Ore., May 19, 2014 /PRNewswire/ -- Cascade Bancorp (NASDAQ: CACB) ("Cascade"), the holding company for Bank of the Cascades ("Bank"), today announced that on May 16, 2014 it completed its previously announced acquisition of Home Federal Bancorp, Inc. (NASDAQ: HOME) ("Home"). The combined company is expected to have assets in excess of $2.3 billion and deposits of $2.0 billion with forty branches serving the Oregon and Boise, Idaho markets.
Terry Zink, President and Chief Executive Officer of Cascade, commented, "I am very excited to welcome the customers and employees of Home Federal to Cascade. This acquisition expands our operational footprint in the Pacific Northwest while also providing revenue and cost synergies to the Bank. We look forward to delivering an expanded line of products and services to meet the financial needs of our local business and personal banking customers as we strive to be the premier community bank in the Pacific Northwest."
Under the terms of the merger agreement, former shareholders of Home Federal Bancorp will receive a fixed exchange ratio of 1.6772 shares of Cascade common stock and $8.43 in cash for each share of Home Federal Bancorp common stock, without interest and less withholding for taxes (and cash in lieu of fractional shares).
Cascade was advised in this transaction by Macquarie Capital, as financial advisor, and Hunton & Williams LLP, as legal counsel. Home was advised by Keefe, Bruyette & Woods, as financial advisor, and Vorys, Sater, Seymour and Pease LLP, as legal counsel.
About Cascade Bancorp and Bank of the Cascades
Cascade Bancorp (NASDAQ: CACB), headquartered in Bend, Oregon, and its wholly owned subsidiary, Bank of the Cascades, operate in Oregon and Idaho markets. Founded in 1977, Bank of the Cascades offers full-service community banking through 28 branches in Central, Southern and Northwest Oregon, as well as in the greater Boise/Treasure Valley, Idaho area. The Bank has a business strategy that focuses on delivering the best in community banking for the financial well-being of customers and shareholders. It executes its strategy through the consistent delivery of full relationship banking focused on attracting and retaining value-driven customers. For further information, please visit our website at www.botc.com.
"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
Recent CACB News
- CIBC Asset Management announces CIBC ETF cash distributions for April 2024 • PR Newswire (Canada) • 04/23/2024 12:30:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois d'avril 2024 • PR Newswire (Canada) • 04/23/2024 12:30:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de mars 2024 • PR Newswire (Canada) • 03/21/2024 12:00:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for March 2024 • PR Newswire (Canada) • 03/21/2024 12:00:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de février 2024 • PR Newswire (Canada) • 02/22/2024 12:30:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for February 2024 • PR Newswire (Canada) • 02/22/2024 12:30:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for January 2024 • PR Newswire (Canada) • 01/24/2024 01:30:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de janvier 2024 • PR Newswire (Canada) • 01/24/2024 01:30:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces révisées des FNB CIBC pour le mois de décembre 2023 • PR Newswire (Canada) • 12/28/2023 04:02:00 PM
- CIBC Asset Management announces revised CIBC ETF cash distributions for December 2023 • PR Newswire (Canada) • 12/28/2023 04:01:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de décembre 2023 • PR Newswire (Canada) • 12/20/2023 06:03:00 PM
- Gestion d'actifs CIBC annonce les distributions annuelles finales de gains en capital réinvesties de 2023 pour les FNB CIBC et la série FNB • PR Newswire (Canada) • 12/20/2023 06:03:00 PM
- CIBC Asset Management announces final 2023 annual reinvested capital gains distributions for CIBC ETFs and ETF Series • PR Newswire (Canada) • 12/20/2023 06:03:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for December 2023 • PR Newswire (Canada) • 12/20/2023 06:03:00 PM
- Gestion d'actifs CIBC annonce des distributions annuelles estimatives de gains en capital réinvesties de 2023 pour les FNB CIBC et la série FNB • PR Newswire (Canada) • 11/29/2023 05:00:00 PM
- CIBC Asset Management announces estimated 2023 annual reinvested capital gains distributions for CIBC ETFs and ETF Series • PR Newswire (Canada) • 11/29/2023 05:00:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de novembre 2023 • PR Newswire (Canada) • 11/23/2023 01:00:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for November 2023 • PR Newswire (Canada) • 11/23/2023 01:00:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces de FNB CIBC pour le mois d'octobre 2023 • PR Newswire (Canada) • 10/24/2023 02:55:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for October 2023 • PR Newswire (Canada) • 10/24/2023 01:13:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de septembre 2023 • PR Newswire (Canada) • 10/24/2023 12:00:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for September 2023 • PR Newswire (Canada) • 10/24/2023 12:00:00 PM
- Gestion d'actifs CIBC annonce les distributions en espèces des FNB CIBC pour le mois de septembre 2023 • PR Newswire (Canada) • 09/22/2023 12:00:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for September 2023 • PR Newswire (Canada) • 09/22/2023 12:00:00 PM
- CIBC Asset Management announces CIBC ETF cash distributions for August 2023 • PR Newswire (Canada) • 08/24/2023 11:30:00 AM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM