Columbia Banking System Inc. has agreed to buy Auburn, Wash.-based Cascade Bancorp for about $15 million in stock.

The acquisition would extend $608 million-asset Columbia's presence in the Seattle-Tacoma market, bringing it into Auburn and Kent, which are suburbs of Seattle.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.