Cascade Bancorp, the holding company for Bend-based Bank of the Cascades, on Tuesday completed its acquisition of 15 former Bank of America branches in Southern Oregon, the Oregon Coast and Western Washington, the company announced in a news release.

The acquisition makes Bank of the Cascades the largest community bank in Oregon, with approximately $3 billion in assets and 51 branches in Oregon, Washington and southwest Idaho. The acquisition cost Cascade Bancorp $10 million, said Bank of the Cascades CEO Terry Zink.

Cascade gained approximately $470 million in branch deposits and nearly 60,000 new customer accounts in the transaction, according to the news release. The branch employees were kept on, the bank stated.