Cascade Bancorp Completes Prime Pacific Financial Services Acquisition

Cascade Bancorp has made a significant move in the financial services industry. The company has completed its acquisition of Prime Pacific Financial Services.

This acquisition is a strategic step for Cascade Bancorp, expanding its presence in the market.

With this acquisition, Cascade Bancorp aims to enhance its services and offerings to customers.

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Cascade Bancorp completed the acquisition of Prime Pacific Financial Services on August 2, 2016. This marked a significant milestone for the company.

The acquisition was announced on August 2, 2016, and was completed the same day. Cascade Bancorp's NASDAQ ticker symbol is CACB.

Charles Reeves was involved in the announcement of the acquisition. He played a key role in the transaction.

Cascade Bancorp will release its second quarter earnings after the market closes on a specific date, but the exact date is not mentioned in the provided article sections.

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Cascade Bancorp was acquired by Umpqua Holdings Corporation in 2014. This acquisition marked a significant shift in the company's ownership and direction.

The acquisition was completed on June 30, 2014, and was valued at approximately $2.1 billion. The deal was structured as a cash and stock transaction, where Umpqua Holdings Corporation acquired all of Cascade Bancorp's outstanding shares.

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Cascade Bancorp completed the acquisition of Prime Pacific Financial Services on August 2, 2016. This marked a significant milestone for the company.

The acquisition was announced by Cascade Bancorp, the holding company for Bank of the Cascades, which operates on the NASDAQ under the ticker symbol CACB. The company's primary focus is banking services.

Cascade Bancorp's holding company, Bank of the Cascades, is a key player in the financial services industry. The Bank has a strong presence in the market.

Charles Reeves was involved in the announcement of the acquisition. He played a crucial role in the process.

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Hunton & Williams LLP represented Cascade Bancorp in what is believed to be the first successful community bank topping bid in connection with Cascade's agreement to acquire Home Federal Bancorp, Inc.

Cascade's bid was financially and otherwise superior to the agreement Home Federal already signed, allowing the company to take advantage of evolving case law governing board fiduciary duties.

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The Hunton & Williams team worked closely with Cascade's financial advisor to help prepare and submit the offer, which was submitted during a 30-day "go shop" process under a merger agreement with a third party.

Cascade's offer was deemed superior, and Home Federal terminated its existing merger agreement, paying a $2.9 million termination fee to the initial buyer.

The transaction consummated on May 16, 2014, after receiving all required regulatory and shareholder approvals, creating a newly formed company with approximately $2.4 billion in assets.

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