Banking M&A Team Leads Sale of Bank of the Cascades

Bank of the Cascades and its parent company, Cascade Bancorp (NASDAQ: CACB), were represented by the firm’s banking M&A practice in their sale to First Interstate BancSystem, Inc. (NASDAQ: FIBK). The parent company merger, completed on May 30, created a combined banking institution with approximately $12.1 billion in total assets. Under the previously announced merger agreement, each Cascade stockholder will receive cash and First Interstate stock. The merger creates a unique banking franchise that extends from the Mountain West to the Pacific Northwest regions.

Hunton & Williams’ team was led by partner Peter Weinstock, head of the firm’s financial institutions practice, and M&A partner Steven M. Haas. The team also included counsel Beth A. Whitaker and associate Charles L. Brewer for M&A matters; partner Baker R. Rector for employee benefits issues; and partner Jeff Blair for tax questions, among others. Hunton & Williams previously represented Cascade Bancorp in several strategic acquisitions, including Home Federal Bancorp and Prime Pacific Financial Services.

Hunton & Williams’ financial institutions group focuses on bank M&A, regulatory and corporate matters and was ranked as a top adviser in SNL Financial’s league tables for bank and thrift legal advisers, by number of deals. The group advised on 15 announced whole-bank acquisitions last year, placing the firm second overall in SNL Financial’s league tables for bank and thrift legal advisers for 2016. Over the past 17 years, the group has participated in nearly 350 banking merger and acquisition transactions.