>Bank of Cascades strikes a deal to raise $177 million
Bank of Cascades parent company has announced a deal that will provide the community bank with $177 million in capital.
Officials with the Bend-based Cascade Bancorp said the deal with a group of prominent investors will make it one of the best capitalized community banks in the nation. The bank had been ordered by federal regulators to raise its capital ratios.
Cascade Bancorp has entered into agreements for the purchase and sale of approximately $177 million of shares of its common stock. Private placement investors who have entered into separate agreements with the company include:
• David F. Bolger an affiliate of Lightyear Fund II L.P.
•Private equity funds affiliated with Leonard Green & Partners, L.P.
•Private equity funds affiliated with WL Ross & Co. LLC.
