To Our Valued Clients:
With great pleasure, we announced the signing of a merger agreement between Home Federal Bancorp, Inc., and Cascade Bancorp on October 23, 2013. With this agreement, Home Federal Bank will merge with Bank of the Cascades, providing both organizations with unique and exceptional opportunities for growth. Home Federal Bank and Bank of the Cascades share a common commitment to making a difference for our clients and it is this shared culture which makes our two banks a strong fit. Together, we will be a bank with over $2 billion of assets that is focused specifically on delivering the advantages of community banking to clients and communities throughout the Northwest.
Over the next few months, we will be working to bring our two companies together and explore the new opportunities that will be created. We are excited about the additional products, services, value and convenience that our combined organizations will soon provide to you.
At this time, please be assured there is no action you need to take with respect to your loan or deposit relationship with Home Federal Bank. Our teams will be working together to ensure a smooth and seamless transition on your behalf. We are committed to keeping you informed as we move forward. Our bankers invite your questions at any time and keep an eye on the websites of Home Federal Bank and Bank of the Cascades for more information on our progress as we move forward to combine our companies.
We have a new and welcome partner in Bank of the Cascades that will preserve our heritage of community banking and provide a platform for continued growth. We greatly appreciate your business and look forward to serving your financial needs.
Len E. Williams, President & CEO, Home Federal Bancorp, Inc.
Terry E. Zink, President & CEO, Cascade Bancorp
On October 23, 2013, we announced an agreement between Cascade Bancorp and Home Federal Bancorp, Inc., the holding company for Home Federal Bank, for the merger of Home Federal Bank into Bank of the Cascades (BOTC). Bank of the Cascades shares our strong commitment to clients and to community, making our two banks a great fit. Over the next few months, we will be working to bring our two companies together and explore the new opportunities which will be created. We are excited to join Bank of the Cascades!
Until the merger closes, the organizations will continue to operate independently. We anticipate the close of the transaction to occur sometime in the first or second quarter of 2014.
Do I need to take any action regarding my HomeFed accounts?
Clients do not need to take any action. HomeFed clients will continue to receive great service from the same team members they have come to know and trust. We will be working closely with Bank of the Cascades to ensure the transition for clients is as easy and seamless as possible.
Where do I go with questions?
Our bankers invite your questions at any time. Additionally, both banks plan to keep our websites updated with information on progress and actions as we work to combine our companies. We look forward to a smooth transition focused on client convenience.
How does this information affect me?
The merger between BOTC and HomeFed will bring you more banking locations throughout Oregon and Idaho, and the variety of services available will expand.