BEND, Ore. and BILLINGS, Mont., May
24, 2017 /PRNewswire/ -- Cascade Bancorp ("Cascade")
(NASDAQ: CACB) and First Interstate BancSystem, Inc. ("First
Interstate") (NASDAQ: FIBK) announced that each of its shareholders
have approved the proposed merger of Cascade with and into First
Interstate.
Final voting results for the special meeting of Cascade will be
disclosed in a Form 8-K to be filed with the Securities and
Exchange Commission. Final voting results for the annual
meeting of First Interstate will be disclosed in a Form 8-K to be
filed with the Securities and Exchange Commission. The merger
is expected to close on May 30, 2017,
subject to satisfaction of customary closing conditions.
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, operates in the Pacific Northwest. Founded in
1977, Bank of the Cascades offers full-service community banking
through 46 branches in Oregon,
Idaho and Washington. 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.
About First Interstate BancSystem, Inc. and First Interstate
Bank
First Interstate BancSystem, Inc. is a financial and bank
holding company incorporated in 1971 and headquartered in
Billings, Montana. The Company
operates 80 banking offices, including detached drive-up
facilities, in 46 communities in Montana, Wyoming and South
Dakota. Through First Interstate Bank, the Company delivers
a comprehensive range of banking products and services to
individuals, businesses, municipalities and other entities
throughout the Company's market areas.
Cautionary Note Regarding Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Rule 175 promulgated thereunder, and Section 21E of
the Securities Exchange Act of 1934, as amended, and Rule 3b-6
promulgated thereunder, that involve inherent risks and
uncertainties. Such statements are identified as those that
include words or phrases such as "believes," "expects,"
"anticipates," "plans," "trend," "objective," "continue" or similar
expressions or future or conditional verbs such as "will," "would,"
"should," "could," "might," "may" or similar expressions.
Forward-looking statements involve known and unknown risks,
uncertainties, assumptions, estimates and other important factors
that could cause actual results to differ materially from any
results, performance or events expressed or implied by such
forward-looking statements. These forward-looking statements
are subject to risks and uncertainties that may cause actual
results to differ materially from those projected, including but
not limited to the possibility that the merger does not close when
expected or at all because required conditions to closing are not
received or satisfied on a timely basis or at all.
All forward-looking statements attributable to Cascade or
persons acting on Cascade's behalf or attributable to First
Interstate or persons acting on First Interstate's behalf are
expressly qualified in their entirety by the cautionary statements
set forth above. Forward-looking statements speak only as of the
date they are made and Cascade and First Interstate do not
undertake or assume any obligation to update publicly any of these
statements to reflect actual results, new information or future
events, changes in assumptions or changes in other factors
affecting forward-looking statements, except to the extent required
by applicable laws. If Cascade or First Interstate update one
or more forward-looking statements, no inference should be drawn
that Cascade or First Interstate will make additional updates with
respect to those or other forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/shareholders-approve-merger-of-cascade-bancorp-with-and-into-first-interstate-bancsystem-inc-300463464.html
SOURCE Cascade Bancorp
