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Banner Corp Announces Termination Of Agreement With Home Federal Bancorp, Inc

Wednesday, 23 Oct 2013 11:00pm EDT 

Banner Corp announced that the Agreement and Plan of Merger (Agreement) it entered into on September 24, 2013 with Home Federal Bancorp, Inc. has been terminated. On October 16, 2013, Home's Board declared that it had received a Superior Proposal from Cascade Bancorp. Under the terms of the Agreement, Banner had the right to match Cascades' offer through October 22, 2013. In connection with the termination of the Agreement, Home paid a termination fee of approximately $3.0 million to Banner. 

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1.9 +4.86%
2:12pm EDT