Add-on Acquisition • Financial Services

Cascade Bancorp Acquires Prime Pacific Bank

On April 26, 2016, Cascade Bancorp acquired financial services company Prime Pacific Bank for 17M USD

Acquisition Context

This is Cascade Bancorp’s 2nd transaction in the Financial Services sector.
This is Cascade Bancorp’s 2nd largest (disclosed) transaction.
This is Cascade Bancorp’s 2nd transaction in the United States.
This is Cascade Bancorp’s 1st transaction in Washington.

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M&A Deal Summary
Date	April 26, 2016
Target	Prime Pacific Bank
Sector	Financial Services
Buyer(s)	Cascade Bancorp
Deal Type	Add-on Acquisition
Deal Value	17M USD
Advisor(s)	D.A. Davidson (Financial) Miller Nash (Legal)

Target Company

Prime Pacific Bank

Lynnwood, Washington, United States

Prime Pacific Bank is a full service community bank that provides a range of retail banking services. Prime has served individuals and small to medium-sized businesses located in the south Snohomish County and northeast King County. Prime Pacific Bank is based in Lynwood, Washington.

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Buyer Overview 1

Buyer

Cascade Bancorp

Bend, Oregon, United States

Category	Company
Founded	1977
Sector	Financial Services
Employees	513
Revenue	105M USD (2015)

DESCRIPTION

Cascade Bancorp is a community bank in the Pacific Northwest operating under the name of Bank of the Cascades. Cascade offers full-service community banking through over 30 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley.

Deal Context for Buyer	#
Overall	2 of 2
Sector: Financial Services	2 of 2
Type: Add-on Acquisition	2 of 2
State: Washington	1 of 1
Country: United States	2 of 2
Year: 2016	1 of 1
Size (of disclosed)	2 of 2

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2014-05-19	Home Federal Bancorp Nampa, Idaho, United States Home Federal Bancorp, Inc., a state chartered community bank.	Buy	$266M

DATE

TARGET

DEAL TYPE

VALUE

2014-05-19

Home Federal Bancorp

Nampa, Idaho, United States

Home Federal Bancorp, Inc., a state chartered community bank.

Buy

$266M

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