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M&A Deal Summary

Cascade Bancorp Acquires Prime Pacific Bank

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

Acquisition Highlights
  • 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.

M&A Deal Summary
Date 2016-04-26
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

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(S) 1

Buyer

Cascade Bancorp

Bend, Oregon, United States
Category Company
Founded 1977
Sector Financial Services
Employees513
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 STATS #
Overall 2 of 2
Sector: Financial Services M&A 2 of 2
Type: Add-on Acquisition M&A Deals 2 of 2
State: Washington M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2016 M&A 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
Mergr

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