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Deal Overview

Buyer:
Columbia Banking System, Inc.
Actual Acquirer:
Columbia Banking System, Inc.
Target:
Cascade Bancorp
Deal Type:
Bank & Thrift Company
Agreement Date:
7/1/1997
Announcement Date:
7/1/1997
Announced Deal Value ($ M):
15.40
Status:
Completed
Completion Date:
12/1/1997
Announced Deal Value Per Share ($ )
45.68

Consideration Breakout
Common Stock ($M) 20.8
Common Stock Issued 749,100

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 245.0 313.0
Price / Tangible Book (%) 245.0 313.0
Price / Earnings (x) 24.6 28.5
Price / Deposits (%) 20.89 27.31
Price / Assets (%) 18.17 23.91
Tangible Book Premium/ Deposits (%) 13.38 20.00
Deal Terms
Description of Consideration

Cascade Bancorp received 2.27 shares of CBSI common stock for each share held. Seller's financials are for Cascade Community Bank.

Accounting Method Pooling of Interests
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 0
Estimated Cost Savings (%) NA
Estimated Cost Savings ($ 000) NA
Est. Restructuring Charges ($ 000) NA
Maximum Termination Fee ($ 000) 500
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) 2.270000
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement No
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 0
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer No NA
Seller Yes Columbia Financial Advisors
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Gordon Thomas Honeywell
Seller Yes Graham & Dunn PC

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