XML 49 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
Business Combinations (Tables)
9 Months Ended
Sep. 30, 2014
Business Combinations [Abstract]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]
Purchase Price (in thousands, except per share data)
 
 
 
Cascade Bancorp common stock shares issued for Home Federal shares
 
 
24,309,131

Cascade share price as calculated in the Merger Agreement
 
 
$
4.91

Consideration from common stock conversion (1.6772 ratio)
 
 
$
119,285

Consideration paid in cash ($8.43 per share)
 
 
$
122,163

Total purchase price
 
 
241,448

ASSETS
 
 
 
Cash and cash equivalents
 
$
160,782

 
Investment securities
 
318,893

 
Loans
 
392,411

 
Premises and equipment
 
17,432

 
Other real estate owned
 
3,514

 
Deferred tax asset
 
15,407

 
Bank owned life insurance
 
15,896

 
Other assets
 
13,259

 
Intangible asset acquired (1)
 
7,667

 
Total assets
 
$
945,261

 
LIABILITIES
 
 
 
Deposits
 
$
760,648

 
Other liabilities
 
23,354

 
Total liabilities
 
$
784,002

 
Net identifiable assets acquired
 
 
161,259

Goodwill
 
 
$
80,189

 
 
 
 
(1) Intangible assets consist of core deposit intangibles acquired in the Home transaction. The core deposit intangible is being amortized over a 10 year period, which is its expected useful life.
Business Acquisition, Pro Forma Information [Table Text Block]
 
Three months ended September 30,
 
Nine months ended September 30,
 
2014
 
2013
 
2014
 
2013
Net interest income
$
18,592

 
$
23,309

 
$
59,870

 
$
67,433

Non-interest expense
19,728

 
23,693

 
88,455

 
83,123

Net income
2,432

 
2,689

 
8,689

 
46,473

Net income per diluted share
0.03

 
0.04

 
0.11

 
0.65