Cascade Bancorp (CACB)

[Enterprising Investor]

Regulatory and Merger Update (4/16/14)

On April 11, 2014, Cascade Bancorp, an Oregon corporation (“Cascade”), received notice of non-objection from the Federal Reserve Bank of San Francisco (the "Federal Reserve Bank"), acting on delegated authority from the Board of Governors of the Federal Reserve System, to consummate the merger with Home Federal Bancorp, Inc., a Maryland corporation (“Home,” and such merger, the “Merger”), pursuant to the Agreement and Plan of Merger between Cascade and Home, dated as of October 23, 2013 (the “Merger Agreement”), and to thereby acquire Home Federal Bank, a wholly owned subsidiary of Home. The Federal Reserve Bank also waived the filing of a formal application by Cascade for the Merger.

On February 20, 2014, Cascade received regulatory approval from the Federal Deposit Insurance Corporation for Bank of the Cascades, wholly owned subsidiary of Cascade, to merge with Home Federal Bank, with Bank of the Cascades continuing as the surviving entity (the “Bank Merger”).

As Cascade and Bank of the Cascades also received the necessary regulatory approvals for the Merger and the Bank Merger from the Oregon Department of Consumer and Business Services, Division of Finance and Corporate Securities, as well as the Idaho Department of Finance, all regulatory approvals and non-objections required to be obtained prior to the completion of the Merger have now been obtained.

Completion of the Merger remains subject to approval of Home’s shareholders and Cascade’s shareholders, as well as the satisfaction of other customary closing conditions. Assuming such approvals are received and conditions are satisfied, Cascade expects to complete the Merger in May 2014.

http://www.sec.gov/Archives/edgar/data/865911/000086591114000022/0000865911-14-000022-index.htm