The latest news from NWFPA members and events concerning the food processing industry in the Northwest.

New CEO at Oregon Fruit Products

New CEO at Oregon Fruit Products

The Oregon Fruit Products team appointed Chris Sarles as the new CEO.
July 9, 2014

Salem, Ore./Press Release -- The Oregon Fruit Products team appointed Chris Sarles as the new CEO. Sarles brings extensive experience in business management and team leadership.

Sarles was raised in Portland, Ore., and graduated from Oregon State University in 1987 with an International Business degree focused on marketing and economics. He has worked in the beverage distribution industry in varying roles including ownership of Alehouse Distributing and later leadership in both Washington and Oregon for Columbia Distributing, as well as Young’s Market Company.

His ability to impact business lies in the areas of innovative team leadership and sales development. While with Columbia Distributing, he helped to integrate multiple acquisitions into the company, building a stronger organization. He looks forward to working with the Oregon Fruit Products team to continue to develop and execute a clear strategic plan that will meet the growing demand for specialty fruits in the retail, foodservice and industrial segments of the industry. He will help Oregon Fruit Products successfully launch value added specialty fruit products, as well as expand Oregon Specialty Fruit in the domestic and export grocery segment.

Sprague Named Top 100 Company

SpragueW Tag

Media Release
Sprague Pest Solutions Named A Top 100 Company

Tacoma, Wash. – A growing structural pest control industry has helped Tacoma-based Sprague Pest Solutions ( move up to 29th on the 2014 Pest Control Technology magazine Top 100 List, an annual compilation of the leading pest management companies in the United States. The list was included in the magazine’s May issue (


Cascade Bancorp Completes Acquisition of Home Federal Bancorp, Inc.

May 19, 2014

Cascade Bancorp Completes Acquisition of Home Federal Bancorp, Inc.

Contact: Terry L. Zink, CEO 541-617-3527
              Gregory D. Newton, EVP, CFO 541-617-3526

Bend, Ore. – May 19, 2014/PRNewswire/ - Cascade Bancorp (NASDAQ: CACB) (“Cascade”), the holding company
for Bank of the Cascades (“Bank”), today announced that on May 16, 2014 it completed its previously announced
acquisition of Home Federal Bancorp, Inc. (NASDAQ: HOME) (“Home”). The combined company is expected to
have assets in excess of $2.3 billion and deposits of $2.0 billion with forty branches serving the Oregon and Boise,
Idaho markets.

Terry Zink, President and Chief Executive Officer of Cascade, commented, “I am very excited to welcome the
customers and employees of Home Federal to Cascade. This acquisition expands our operational footprint in the
Pacific Northwest while also providing revenue and cost synergies to the Bank. We look forward to delivering an
expanded line of products and services to meet the financial needs of our local business and personal banking
customers as we strive to be the premier community bank in the Pacific Northwest.”

Under the terms of the merger agreement, former shareholders of Home Federal Bancorp will receive a fixed
exchange ratio of 1.6772 shares of Cascade common stock and $8.43 in cash for each share of Home Federal
Bancorp common stock, without interest and less withholding for taxes (and cash in lieu of fractional shares).
Cascade was advised in this transaction by Macquarie Capital, as financial advisor, and Hunton & Williams LLP, as
legal counsel. Home was advised by Keefe, Bruyette & Woods, as financial advisor, and Vorys, Sater, Seymour and
Pease LLP, as legal counsel.

About Cascade Bancorp and Bank of the Cascades
Cascade Bancorp (NASDAQ: CACB), headquartered in Bend, Oregon, and its wholly owned subsidiary, Bank of the
Cascades, operate in Oregon and Idaho markets. Founded in 1977, Bank of the Cascades offers full-service
community banking through 28 branches in Central, Southern and Northwest Oregon, as well as in the greater
Boise/Treasure Valley, Idaho area. The Bank has a business strategy that focuses on delivering the best in
community banking for the financial well-being of customers and shareholders. It executes its strategy through the
consistent delivery of full relationship banking focused on attracting and retaining value-driven customers. For
further information, please visit our website at


This release contains forward-looking statements about Cascade Bancorp’s plans and anticipated results of
operations and financial condition. These statements include, but are not limited to, our plans, objectives,
expectations, and intentions and are not statements of historical fact. When used in this report, the word
"expects," "believes," "anticipates,” “could,” “may,” “will,” “should,” “plan,” “predicts,” “projections,” “continue”
and other similar expressions constitute forward-looking statements, as do any other statements that expressly or
implicitly predict future events, results or performance, and such statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Certain risks and uncertainties and Cascade
Bancorp’s success in managing such risks and uncertainties could cause actual results to differ materially from
those projected, including among others, the following factors: local and national economic conditions could be
less favorable than expected or could have a more direct and pronounced effect on us than expected and adversely affect our results of operations and financial condition; the local housing/real estate market could continue to
decline for a longer period than we anticipate; the risks presented by a continued economic recession, which could
continue to adversely affect credit quality, collateral values, including real estate collateral and OREO properties,
investment values, liquidity and loan originations, reserves for loan losses and charge offs of loans and loan
portfolio delinquency rates and may be exacerbated by our concentration of operations in the States of Oregon and
Idaho generally, and Central, Southern and Northwest Oregon, as well as the greater Boise/Treasure Valley, Idaho
area, specifically; interest rate changes could significantly reduce net interest income and negatively affect funding
sources; competition among financial institutions could increase significantly; competition or changes in interest
rates could negatively affect net interest margin, as could other factors listed from time to time in Cascade
Bancorp’s Securities and Exchange Commission (“SEC”) reports; the reputation of the financial services industry
could further deteriorate, which could adversely affect our ability to access markets for funding and to acquire and
retain customers; and existing regulatory requirements, changes in regulatory requirements and legislation
(including without limitation, the Dodd-Frank Wall Street Reform and Consumer Protection Act) and our inability to
meet those requirements, including capital requirements and increases in our deposit insurance premium, could
adversely affect the businesses in which we are engaged, our results of operations and financial condition. Such
forward-looking statements also include, but are not limited to, statements about the benefits of the business
combination transaction involving Cascade Bancorp and Home Federal Bancorp, Inc., including future financial and
operating results, the combined company’s plans, objectives, expectations and intentions and other statements
that are not historical facts. These forward-looking statements are subject to numerous assumptions, risks and
uncertainties which change over time. Forward-looking statements speak only as of the date they are made and
we assume no duty to update forward-looking statements. Important factors that could cause actual results to
differ materially from those indicated by such forward-looking statements include risks and uncertainties relating
to: (i) the risk that the businesses will not be integrated successfully; (ii) the risk that the cost savings and any
other synergies from the transaction may not be fully realized or may take longer to realize than expected; (iii)
disruption from the transaction making it more difficult to maintain relationships with customers, employees or
vendors; (iv) the diversion of management time on post-merger and integration-related issues; (v) general
worldwide economic conditions and related uncertainties; (vi) liquidity risk affecting Cascade’s ability to meet its
obligations when they come due; (vii) excessive loan losses; (viii) the effect of changes in governmental regulations;
and (ix) other factors we discuss or refer to in the “Risk Factors” section of Cascade’s most recent Annual Report on
Form 10-K filed with the SEC on March 31, 2014. These risks as well as other additional risks and uncertainties are
identified and discussed in Cascade’s reports filed with the SEC and available at the SEC’s website at
These forward-looking statements speak only as of the date of this release. Cascade Bancorp undertakes no
obligation to publish revised forward-looking statements to reflect the occurrence of unanticipated events or
circumstances after the date hereof. Readers should carefully review all disclosures filed by Cascade Bancorp from
time to time with the SEC.





SALEM, Ore. – June 30, 2014 – NORPAC Foods, Inc., a leading producer of fruit and vegetable products, and Henningsen Cold Storage Co., yesterday celebrated their new 225,000-square-foot frozen food storage and distribution facility with an open house for its farmer-owners, employees, partners and civic officials.

The new facility is owned and operated by Hillsboro, Ore.-based Henningsen Cold Storage, one of the largest, family owned, frozen and refrigerated warehousing companies in the United States, and was constructed on NORPAC-owned land adjacent to NORPAC’s packaging facility. The facility was designed to support the company’s continued growth and will immediately become NORPAC’s primary distribution point for the company’s frozen finished goods. The new facility will provide considerable energy and cost savings through more efficient transportation and storage practices.

“The project has been a true partnership from the ground up,” said George Smith, CEO, NORPAC. “We’re proud to work with civic leaders and Henningsen, another steadfast Oregon-based company, to make this project a reality. This investment is symbolic of our pride in local agriculture and our long term commitment to Salem.”

In addition to the construction of the cold storage facility, NORPAC consolidated 120 employees from two satellite offices to a new corporate headquarters building in Salem, located next to the new cold storage and existing packaging facilities. NORPAC’s Stayton processing facility will continue to operate at full capacity.

“We take great pride in helping local farmers and a fellow Oregon business thrive,” said Mike Henningsen, Chairman and President, Henningsen Cold Storage Co. “It’s exciting to know that, in partnership with NORPAC, we’ll preserve the fresh flavors from the fields for people to enjoy year-round.”

About Henningsen Cold Storage
Henningsen Cold Storage Co. is one of the largest public refrigerated warehousing companies in the U.S., with 10 facilities in six states providing more than 53 million cubic feet of temperature controlled storage. Henningsen is a fourth generation family owned corporation with roots dating to 1923. Visit

About NORPAC Foods, Inc.
NORPAC is a cooperative owned by 240 family farmers in the Willamette Valley of Oregon, which provides frozen and canned vegetables and fruit, along with soups and other value added products, to the foodservice, retail, club store, remanufacture and export market segments. Originally established as Stayton Canning Company in 1924, NORPAC has grown to now operate processing and packaging facilities in Stayton, Salem, Brooks and Hermiston, Oregon, along with Quincy, Washington. Visit

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t (971)259-4750 | c (503)341-3795

Bank of the Cascades Pledges $2 Billion to Support Oregon, Idaho Communities

May 19, 2014

Bank of the Cascades Pledges $2 Billion to Support Oregon, Idaho Communities

Merger with Home Federal Bank renews commitment to strengthen local communities

BEND, Ore., May 19, 2014—To celebrate its completed merger with Home Federal Bank, Bank of the Cascades today
pledged to invest heavily in communities across Oregon and Idaho’s Treasure Valley. The bank will provide $2 billion in
credit to small businesses and individuals over the next three years, and is prepared to deliver $175,000 in
philanthropic giving to nearly 100 organizations over the coming month.
According to Bank of the Cascades President and CEO Terry Zink, the merger with Home Federal Bank combines the
financial strength of two exceptional institutions, which creates greater opportunities to impact communities
positively through lending and charitable giving.

“Our customers and communities are the real winners of this merger,” said Zink. “Together, we have increased
lending capacity to invest in local businesses and organizations making a difference in people’s lives. These pledges
reflect our commitment to the prosperity of all those we are privileged to serve.”
Mike Mooney, EVP and Idaho Region President, commented, “Our job is to help local business grow and thrive. We
know that delivering credit to customers and communities grows business, creates jobs and strengthens our local
shared economies. We have local leadership in place in Idaho with regional expertise to allow us to respond quickly
and effectively to the needs of our communities.”
Specific to Southwest Idaho and the Treasure Valley, Bank of the Cascades delivers financing and depository services
to local business customers, including Treasure Valley Hospital, Boise Aquarium, A-1 Plumbing, Ameriben/IEC Group,
Caldwell Medical Office Building, DeBest Plumbing, Living with Grace Assisted Living, Strata, and Sockeye Brewing. In
addition to business services, the bank also focuses its efforts on a comprehensive, competitive and convenient line of
personal financial services. Individual customers of the combined bank will have access to enhanced banking solutions
that include home loans, trust services, investment services, robust online and mobile banking, and additional retail
branches for convenience.
“For communities to thrive, businesses and individuals need smart financial solutions and access to capital,” said Zink.
“Our products and services are simply a means to that end. The more customers we serve and the more we lend
responsibly, the bigger impact we have as a community partner.”

Bank of the Cascades has also promised to deliver financial support and contributions to nearly 100 nonprofit
organizations in the next month. “As community banks, both Bank of the Cascades and Home Federal Bank have long
histories of giving back to our communities,” said Mooney. “Now as one bank, we are honored to continue this
commitment and work together to support those who are making a difference for others.” As part of the merger,
Bank of the Cascades will assume leadership of Home Federal’s charitable foundation, continuing this legacy of giving.

The merger also results in the convenience of additional branch locations. In Southwest Idaho, Bank of the Cascades
now has full service branches staffed with experienced bankers and lenders in Boise, Eagle, Garden City, Meridian,
Nampa, Kuna, Caldwell, Fruitland, Mountain Home and Emmett. In Oregon, the bank is expanding to Eugene and
Springfield, while also adding to its existing network of branches in Central and Southern Oregon.

About Bank of the Cascades
Bank of the Cascades is the principal subsidiary of Cascade Bancorp (NASDAQ: CACB). Headquartered in Bend, Oregon,
Bank of the Cascades delivers personalized relationship banking, competitive financial products and advanced
technology applied for the convenience of customers. Founded in 1977, Bank of the Cascades offers full-service
community banking through 40 branches in Central Oregon, Southern Oregon, Willamette Valley/ Eugene/
Portland/Salem and Southwest Idaho. Throughout its history, the bank has been recognized for its long-standing
tradition of corporate philanthropy. For more information, visit

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