Bank of the Cascades closes purchase on 15 Bank of America branches

The acquisition makes the Bend-based bank the second-largest in the state.

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The parent company of Bank of the Cascades has closed on the purchase of 15 former Bank of America branches. The deal adds $470 million in deposits to the bank’s balance sheet. It also gained 60,000 new customers.

…It has $1.4 billion in Oregon deposits, making it the second-largest bank based in the state. Portland-based Umpqua Bank is the largest with nearly $6.5 billion, according to the latest FDIC market share data.

(READ MORE: Portland Business Journal)

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