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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? subscribe | newsletter | deals Classifieds Jobs Autos Real Estate FEATURED » NEWS NOW Snow predicted at higher elevations Sunday night ... Ashland police ready for Halloween ... Dozens speak out about Ashland transient issue ... Snow predicted at higher elevations Sunday night ... Ashland police ready for Halloween ... Dozens speak out about Ashland transient issue ... BUSINESS Bank of the Cascades to acquire Ashland B of A branch Transaction needs regulatory approval, which is expected by April Comment By Local report DailyTidings.com By Local report Posted Oct. 28, 2015 at 6:52 PM By Local report Posted Oct. 28, 2015 at 6:52 PM » Social News The Ashland Bank of America branch will become part of Bank of the Cascades in 2016, pending regulatory approval, Bank of the Cascades announced Wednesday. Bank of America customers at the branch will become customers of Bank of the Cascades, which is one of Oregon’s largest community banks, it said in a media release, as part of its acquisition of 15 branches. Twelve are in Oregon and three are in Washington, which will be Cascades first branches in the latter state. Bank of the Cascades says it has a "commitment to reinvest local deposits directly back into Ashland" as part of its $2 billion lending pledge to strengthen businesses and communities. Cascade will assume approximately $706 million of branch deposits in the transaction. The transaction is expected to be complete by April. Cascade plans on retaining current employees working at the branches. “We look forward to welcoming new employees and customers to a locally based bank that has served communities in the Northwest for nearly 40 years,” Terry Zink, president and CEO of Cascade, said in statement. “We believe new customers will be very pleased with our personalized approach to banking ... (and) new employees will be pleased with Cascade’s commitment to our people and our communities, including support of volunteer efforts in tandem with donations to local not-for-profit organizations.” Cascade Bancorp, the bank's holding company, is headquartered in Bend. Founded in 1977, it currently has 37 branches in central, southern and northwest Oregon and in the Boise/Treasure Valley, Idaho, area. By Local report DailyTidings.com By Local report Posted Oct. 28, 2015 at 6:52 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Southern Oregon Directory Featured Businesses Loading... Business Name address Location, ST | website.com Find Southern Oregon Attractions Bars Restaurants Beauty Salons Entertainment Doctors Medical Specialists Contractors Education Lawn Services Lawyers Shopping Travel Tanning Used Cars Wedding Services ▼ Add your business here + Events Calendar Connect with DailyTidings.com Facebook Twitter RSS Back to top Reader Services Reader Services home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Alerts Email alerts RSS feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Propel Marketing Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Mobile Site Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. Your privacy is important, read our privacy policy. © Copyright 2015 Local Media Group, Inc. All Rights Reserved. Privacy Policy | Terms of Service | Local Media Group Publications Original content available for non-commercial use under a Creative Commons license, except where noted. DailyTidings.com | P.O. Box 1108, Medford, OR 97501