Cascade Bancorp in Bend, Ore., has named a new bank president and chief operating officer, as its chief executive hands over some of his leadership responsibilities.
The $2.5 billion-asset company appointed Charles "Chip" Reeves to the positions on Monday, according to a news release. Reeves succeeded Terry Zink as Bank of the Cascades' president, although Zink will remain chief executive of the bank and holding company. The COO position had been vacant since March 2013, when Michael Delvin retired.
Reeves had been chief banking officer of both Bank of the Cascades and Cascade Bancorp since 2012, after joining the company from Fifth Third Bancorp, where he was the bank's Chicago market president.
During his stint as chief banking officer, Bank of the Cascades opened a commercial loan office in Seattle, accelerated mortgage originations, added equipment financing and grew its derivatives-trading business, Zink said in a news release.
Cascade in October agreed to acquire 15 branches from Bank of America in Oregon and Washington state, a deal that also included about $707 million in deposits. The acquisition is expected to close on Friday.