Bank of the Cascades to Expand in Klamath Falls, Bend and Redmond, Oregon.

  Bank of the Cascades to Expand in Klamath Falls, Bend and Redmond, Oregon.

PR Newswire

BEND, Ore., July 8, 2013

BEND, Ore., July 8, 2013 /PRNewswire/ --Cascade Bancorp (NASDAQ: CACB)
("Company") the holding company for Bank of the Cascades ("Bank"), today
announced the execution of a purchase and assumption agreement where, subject
to regulatory approval the Bank will purchase the Klamath Falls branch of
AmericanWest Bankand will assume the customer relationships, including
deposits and selected loans, of AmericanWest Bank's Bend and Redmond, Oregon
branch offices. The transaction is expected to close in the fourth quarter of
2013. Each of the three branches were PremierWest Bank branches prior to
acquisition by AmericanWest Bank earlier this year.

"We are very pleased to welcome these new customers to Bank of the Cascades
and, in conjunction with AmericanWest, to provide them uninterrupted banking
service," said Terry E. Zink, CEO of Cascade Bancorp. "With a 37 year history
of investing in our communities, we share a common commitment to customer
service with AmericanWest Bank and look forward to serving our new customers
with individual attention and an extensive choice of personal and business
banking services to meet their financial needs. Our commitment is to deliver
the best in banking and provide customers the expertise and advantages of
local banking with the value and convenience of anytime, anywhere
availability."

Upon receipt of all necessary regulatory approval, the Klamath Falls branch of
AmericanWest Bank will become a Bank of the Cascades branch. According to
Zink, "We are proud to have the opportunity to serve these new customers as
the only Oregon based bank in Klamath Falls and believe in the advantages of
banking local and using local deposits to fund local loans in support of the
area's economic strength and stability." In addition the customer
relationships at the Bend branch of AmericanWest Bank will be transferred to
the Bend Forum Branch of Bank of the Cascades at 2630 NE Hwy. 20, located less
than a half mile away in the Forum Shopping Center. The branch offers full
branch and drive-up banking services, Saturday banking hours well as night
depository and drive-up ATMs for deposit, balance, transfer and cash
withdrawal needs. Further, the customer relationships at the Redmond branch
of AmericanWest Bank will be transferred to the Redmond branch of Bank of the
Cascades at 154 SW Sixth Street. The Redmond branch also offers full branch,
drive up banking and ATM service. No matter where their accounts are located,
new customers will be able to utilize any Bank of the Cascades location
throughout Central Oregon, Southern Oregon, Salem/Keizer, Portland and the
Boise/Treasure Valley.

About Cascade Bancorp and Bank of the Cascades

Cascade Bancorp (NASDAQ: CACB), headquartered in Bend, Oregon, and its wholly
owned subsidiary, Bank of the Cascades, operate in Oregon and Idaho markets.
Founded in 1977, Bank of the Cascades offers full-service community banking
through 28 branches in Central, Southern and Northwest Oregon, as well as in
the greater Boise/Treasure Valley, Idaho area. The Bank has a business
strategy that focuses on delivering the best in community banking for the
financial well-being of customers and shareholders. It executes its strategy
through the consistent delivery of full relationship banking focused on
attracting and retaining value-driven customers. For further information,
please visit our website at www.botc.com.

FORWARD LOOKING STATEMENTS

This release contains forward-looking statements about Cascade Bancorp's plans
and anticipated results of operations and financial condition. These
statements include, but are not limited to, our plans, objectives,
expectations, and intentions and are not statements of historical fact. When
used in this release, the word "expects," "believes," "anticipates," "could,"
"may," "will," "should," "plan," "predicts," "projections," "continue" and
other similar expressions constitute forward-looking statements, as do any
other statements that expressly or implicitly predict future events, results
or performance, and such statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Certain
risks and uncertainties and Cascade Bancorp's success in managing such risks
and uncertainties could cause actual results to differ materially from those
projected, including among others, the risk factors described in our annual
report on Form 10-K filed with the Securities and Exchange Commission (the
"SEC") for the year ended December 31, 2012, as well as the following factors:
local and national economic conditions could be less favorable than expected
or could have a more direct and pronounced effect on us than expected and
adversely affect our results of operations and financial condition; the local
housing/real estate market could continue to decline for a longer period than
we anticipate; the risks presented by a continued economic recession, which
could continue to adversely affect credit quality, collateral values,
including real estate collateral and OREO properties, investment values,
liquidity and loan originations, reserves for loan losses and charge offs of
loans and loan portfolio delinquency rates and may be exacerbated by our
concentration of operations in the States of Oregon and Idaho generally, and
Central, Southern and Northwest Oregon, as well as the greater Boise/Treasure
Valley, Idaho area, specifically; interest rate changes could significantly
reduce net interest income and negatively affect funding sources; competition
among financial institutions could increase significantly; competition or
changes in interest rates could negatively affect net interest margin, as
could other factors listed from time to time in Cascade Bancorp's SEC reports;
the reputation of the financial services industry could further deteriorate,
which could adversely affect our ability to access markets for funding and to
acquire and retain customers; and existing regulatory requirements, changes in
regulatory requirements and legislation (including without limitation, the
Dodd-Frank Wall Street Reform and Consumer Protection Act) and our inability
to meet those requirements, including capital requirements and increases in
our deposit insurance premium, could adversely affect the businesses in which
we are engaged, our results of operations and financial condition. These
forward-looking statements speak only as of the date of this release. Cascade
Bancorp undertakes no obligation to publish revised forward-looking statements
to reflect the occurrence of unanticipated events or circumstances after the
date hereof. Readers should carefully review all disclosures filed by Cascade
Bancorp from time to time with the SEC.

SOURCE Cascade Bancorp

Website: http://www.botc.com
Contact: Terry E. Zink, President and Chief Executive Officer, Cascade
Bancorp, +1-541-617-3513, or Charles N. Reeves, EVP and Chief Banking Officer,
Cascade Bancorp, +1-541-617-3557
 
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