Bank of the Cascades will likely have to close branches next year after its parent company acquires Idaho-based Home Federal Bank, a company official said Wednesday during a conference call.

Terry Zink, bank president and CEO, said the Home Federal purchase, expected to be finalized by late March, would leave 50 percent of Bank of the Cascades’ branches within one half-mile of another branch.

“We haven’t come up with an exact number” of branches to close, Zink said about the process of making a decision. But “if you see a Home (Federal) branch across the street from a (Bank of the) Cascades branch, you can pretty much rest assured they aren’t both going to be there.”

Bank of the Cascades has 18 Oregon offices and 13 Idaho offices, according to Federal Deposit Insurance Corp. data. Home Federal has 15 Oregon offices and 11 Idaho branches. Home Federal branches will carry the Bank of the Cascades name once the acquisition is finalized.

The conference call with analysts and shareholders came a day after Bank of the Cascades announced $1.49 million in third-quarter earnings and growth in its loan portfolio.

— Bulletin staff reports