Cascade Bancorp Explained

Bank of the Cascades is the principal subsidiary of Cascade Bancorp (NASDAQ: CACB).[1] Headquartered in Bend, Oregon, it was founded in 1977.[2] It co-sponsored the Bank of the Cascades Center, a 4,000-seat arena in Redmond, Oregon. It announced in 2016 it would be acquired by First Interstate BancSystem of Montana for $589 million.[3] The acquisition was completed May 30, 2017.[4]

Notes and References

  1. Web site: NASDAQ: Cascade Bancorp Common Stock Quote.
  2. Web site: Cascade Bancorp Company Profile - Portland Business Journal. Company Profiles. Portland Business Journal. 18 November 2016.
  3. News: Kish. Matthew. Oregon's second-largest bank (NSADAQ: CACB) to be sold for $589 million - Portland Business Journal. 18 November 2016. Portland Business Journal. November 17, 2016.
  4. Web site: First Interstate Bank Completes Acquisition of Cascade Bancorp.

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