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News Breaks
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June 27, 2011
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| 09:12 EDT |  | CASB |
| theflyonthewall.com: | Cascade Financial receives regulatory approvals for merger with Opus Bank | | Cascade Financial Corporation announced that the Federal Deposit Insurance Corporation, FDIC, and the California Department of Financial Institutions have approved Cascade Bank's merger into Opus Bank. Additionally, the written waiver of the Federal Reserve Bank to permit the merger of Cascade Financial with a subsidiary of Opus Bank has been received. The transaction, which was previously approved by the shareholders of Cascade Financial at a special shareholders meeting held May 31, is expected to close on June 30.Once the transaction is completed, each share of Cascade Financial's outstanding common stock will be exchanged for approximately 45c cash, under the terms of the merger agreement :theflyonthewall.com |
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