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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 Helman students learn architecture from professionals through Architects in Schools program ... Three ways to enjoy legendary Mt. Shasta ... String of storms expected to bring wind and rain ... Helman students learn architecture from professionals through Architects in Schools program ... Three ways to enjoy legendary Mt. Shasta ... String of storms expected to bring wind and rain ... BANKING Bank of the Cascades integrates Bank of America branches Comment By Greg Stiles For the Tidings DailyTidings.com By Greg Stiles For the Tidings Posted Mar. 7, 2016 at 7:45 PM By Greg Stiles For the Tidings Posted Mar. 7, 2016 at 7:45 PM » Social News Bank of the Cascades has positioned itself to step up the competition for commercial and mortgage lending customers in Oregon. The Bend-based bank, whose footprint extends into Idaho and Washington, has integrated 15 former Bank America branches into its fold, including three in Jackson (one of which is in Ashland, on Ashland Street at Tolman Creek Road) and Josephine counties. While the deal announced last fall means a lot for Bank of the Cascades, the nation's second-largest bank quietly packed its briefcases and left town. President and Chief Operating Officer Chip Reeves said the acquired branches fit into Bank of the Cascades' push for a larger share of the commercial and mortgage lending activity in communities of fewer than 100,000 people. "Our strategy and desire is to be Oregon's dominant community bank," Reeves said. "We believe there was a void created as Umpqua grew into a regional institution." The acquisition vaults Cascades to No. 4 in market share among Jackson County's FDIC banking institutions, with deposits approaching $250 million. In Josephine County, Cascades is now No. 2. "Jackson and Josephine counties are our type of markets," Reeves said, noting the bank has added three additional small business and mortgage lenders for the area. Bank of the Cascades was founded in 1977. Like many financial institutions, it struggled through the Great Recession, but had regained its previous high-water mark of $2.5 billion in assets prior to the Bank America deal. With its new branches, including offices on Stevens Street and West Main Street in Medford, and Ashland Street in Ashland, Cascades' assets are now $3.2 billion. Bank of the Cascades is also the fourth-largest bank in the Boise/Treasure Valley area and has commercial lending operations in Portland and Seattle. Looking ahead, Reeves said his bank will look to grow organically rather than through acquisitions in the short term. "At this point, our board of directors wants us to grow into a $5 (billion) to $7 billion dominant Northwest banking franchise," he said. "Our investors, both institutional and private equity, are supportive of that." Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at www.facebook.com/greg.stiles.31 By Greg Stiles For the Tidings DailyTidings.com By Greg Stiles For the Tidings Posted Mar. 7, 2016 at 7:45 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 2016 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