![]() "It's an exciting time to be a part of the Bank of the Cascades family," said Chip Reeves, President and Chief Operating Officer of Bank of the Cascades. "Our customers also have the satisfaction of knowing that their deposits are reinvested directly back into their local community to help businesses expand, increase homeownership, support the work of worthy nonprofits, and much more." We provide access to a full range of business and consumer banking products and service lines, in addition to making all of our lending decisions at the local level by knowledgeable bankers who our customers know and trust," said Terry Zink, Chief Executive Officer of Bank of the Cascades. You should know that Bank of the Cascades offers a rare combination of top-notch banking products and services with the local and personalized delivery of a community bank. We are very pleased to be able to provide a continuation of banking services to those customers and communities who were impacted by Bank of America's decision to sell their branches. "First I would like to welcome all of our new customers to Bank of the Cascades. This acquisition solidifies Cascade as one of the fastest-growing banks in the region while improving its deposit market share to a top three ranking in many of their communities. Cascade's strategic goal is to grow the bank to $5 billion in assets over time through both organic loan growth and value-enhancing acquisitions in the Northwest. The transaction reflects Bank of the Cascades' continued effort to become the Northwest's premier community bank that is committed to supporting the financial well-being of both customers and local economies. With the addition of new branches and new communities, Cascade was pleased to offer continued employment to employees at the branches impacted by the change. Bank of the Cascades is now Oregon's largest community bank with approximately $3.0 billion in assets, operating 51 branches in Oregon, Washington and Southwest Idaho, plus commercial banking centers located in downtown in Portland and Seattle.Ĭascade assumed approximately $470 million of branch deposits and welcomed nearly 60,000 new customer accounts in the transaction. BEND, Ore., Ma/PRNewswire/ - Cascade Bancorp (NASDAQ: CACB) ("Company" or "Cascade"), the holding company for Bank of the Cascades, today announced the completion of the acquisition of 15 former Bank of America branches in Southern and Coastal Oregon and Western Washington.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |