Cascade Bancorp Completes Acquisition of Home Federal Bancorp, Inc.

     Cascade Bancorp Completes Acquisition of Home Federal Bancorp, Inc.

PR Newswire

BEND, Ore., May 19, 2014

BEND, Ore., May 19, 2014 /PRNewswire/ -- Cascade Bancorp (NASDAQ: CACB)
("Cascade"), the holding company for Bank of the Cascades ("Bank"), today
announced that on May 16, 2014 it completed its previously announced
acquisition of Home Federal Bancorp, Inc. (NASDAQ: HOME) ("Home"). The
combined company is expected to have assets in excess of $2.3 billion and
deposits of $2.0 billion with forty branches serving the Oregon and Boise,
Idaho markets.

Terry Zink, President and Chief Executive Officer of Cascade, commented, "I am
very excited to welcome the customers and employees of Home Federal to
Cascade. This acquisition expands our operational footprint in the Pacific
Northwest while also providing revenue and cost synergies to the Bank. We
look forward to delivering an expanded line of products and services to meet
the financial needs of our local business and personal banking customers as we
strive to be the premier community bank in the Pacific Northwest."

Under the terms of the merger agreement, former shareholders of Home Federal
Bancorp will receive a fixed exchange ratio of 1.6772 shares of Cascade common
stock and $8.43 in cash for each share of Home Federal Bancorp common stock,
without interest and less withholding for taxes (and cash in lieu of
fractional shares).

Cascade was advised in this transaction by Macquarie Capital, as financial
advisor, and Hunton & Williams LLP, as legal counsel. Home was advised by
Keefe, Bruyette & Woods, as financial advisor, and Vorys, Sater, Seymour and
Pease LLP, as legal counsel.

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 report, 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 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 Securities and Exchange
Commission ("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. Such forward-looking statements also
include, but are not limited to, statements about the benefits of the business
combination transaction involving Cascade Bancorp and Home Federal Bancorp,
Inc., including future financial and operating results, the combined company's
plans, objectives, expectations and intentions and other statements that are
not historical facts. These forward-looking statements are subject to numerous
assumptions, risks and uncertainties which change over time. Forward-looking
statements speak only as of the date they are made and we assume no duty to
update forward-looking statements. Important factors that could cause actual
results to differ materially from those indicated by such forward-looking
statements include risks and uncertainties relating to: (i) the risk that the
businesses will not be integrated successfully; (ii) the risk that the cost
savings and any other synergies from the transaction may not be fully realized
or may take longer to realize than expected; (iii) disruption from the
transaction making it more difficult to maintain relationships with customers,
employees or vendors; (iv) the diversion of management time on post-merger and
integration-related issues; (v) general worldwide economic conditions and
related uncertainties; (vi) liquidity risk affecting Cascade's ability to meet
its obligations when they come due; (vii) excessive loan losses; (viii) the
effect of changes in governmental regulations; and (ix) other factors we
discuss or refer to in the "Risk Factors" section of Cascade's most recent
Annual Report on Form 10-K filed with the SEC on March 31, 2014. These risks
as well as other additional risks and uncertainties are identified and
discussed in Cascade's reports filed with the SEC and available at the SEC's
website at www.sec.gov. 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 L. Zink, CEO, 541-617-3527 or Gregory D. Newton, EVP, CFO,
541-617-3526
 
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