Business Combinations (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table provides a summary of the purchase price calculation as of the PPFS Acquisition Date and the identifiable assets purchased and the liabilities assumed at their estimated fair values. These fair value measurements are provisional based on third-party valuations that are currently under review and are subject to refinement for up to one year after the PPFS Acquisition Date based on additional information that may be obtained by us that existed as of the PPFS Acquisition Date.



Purchase Price (in thousands), except per share data
Cascade shares issued for PPFS shares			2,921,012
Cascade share price			$	5.56
Consideration from common stock conversion (0.3050 ratio)			$	16,238
Cash paid in lieu of fractional shares			1
Total purchase price			$	16,239
Assets
Cash and cash equivalents	$	7,625
FHLB stock	424
Loans, net	102,670
Premises and equipment	5,333
Deferred tax asset	2,488
Bank owned life insurance	1,491
Other assets	2,364
Total assets	$	122,395
Liabilities
Deposits	$	101,544
Other liabilities	8,212
Total liabilities	$	109,756

Net identifiable assets acquired			12,639
Intangible assets acquired (1)			342
Goodwill			$	3,258

(1) Intangible assets consist of core deposit intangibles. The useful life for which the core deposit intangibles are being amortized is 10 years.

The following is a condensed balance sheet disclosing the estimated fair value amounts of the branches acquired in the branch acquisition assigned to the major consolidated asset and liability captions at the acquisition date (dollars in thousands):



ASSETS
Cash and cash equivalents	$	456,611
Premises and equipment, net	3,113
Core deposit intangibles	6,427
Goodwill	3,984
Other assets	463
Total assets	$	470,598

LIABILITIES
Deposits	$	469,889
Other liabilities	709
Total liabilities	$	470,598