Cadence Bank (1887–2021)
 |
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Financial Services |
| Founded | 2009 |
| Defunct | 29 October 2021  |
| Headquarters | Birmingham, Alabama |
Key people | Paul B. Murphy, Jr. Chairman Sam Tortorici, Chief Executive Officer Valerie Toalson, Chief Financial Officer Hank Holmes, President. |
| Products | Commercial Banking, Middle-Market and Small Business Banking, Specialized Lending, Commercial Real Estate, International Banking, Treasury Management, Wealth Management, Investment and Trust Services, Retail Banking, Mortgage Banking, Insurance |
| Total assets |  $11.3 billion |
Number of employees | 1,200 |
| Parent | Cadence Bancorporation NYSE: CADE (Class A) Russell 2000 Component |
| Website | https://cadencebank.com |
Cadence Bank, N.A., based in Birmingham, Alabama is a $11.3 billion regional bank with 65 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.[1] It is a subsidiary of Houston, Texas based Cadence Bancorporation.
Cadence serves commercial and business banking, treasury management, specialized lending, commercial real estate, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, personal insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards.
Cadence Bank, N.A. and Linscomb & Williams are direct or indirect subsidiaries of Cadence Bancorporation.
History
Cadence Bank was founded in 2009 in Starkville, Mississippi as Cadence Bank, N.A. and grew to $1.6 billion in assets, with 38 locations in Alabama, Florida, Georgia, Mississippi and Tennessee.
In March 2011, Cadence Bancorp, LLC (formerly Community Bancorp, LLC) acquired Cadence Bank, N.A. Cadence Bancorp purchased the assets and liabilities of Birmingham-based Superior Bank, f.s.b. in April 2011, with $3.4 billion in assets, 73 banking offices and 23 consumer finance offices in Alabama and Florida, from the FDIC.
In November 2011, Cadence Bancorp, LLC merged Superior Bank, N.A. and Cadence Bank into Cadence Bank, N.A. Furthermore, CBC adopted its new name, Cadence Bancorp, LLC, signifying the unity of one holding company with one banking subsidiary under the Cadence brand.
Cadence Bancorp, LLC acquired Houston-based Encore Bancshares in July 2012, expanding its footprint in Texas.
In May 2018, Cadence Bancorporation entered into an agreement of merger with State Bank Financial Corporation in a stock-for-stock transaction, which will create a combined organization with $16 billion in assets and approximately 100 branches serving Texas, Georgia, Florida, Alabama, Tennessee and Mississippi, subject to regulatory approval.[2]
References
- ^ "Cadence Bancorporation Reports Record Second Quarter 2018 Results and Increase in Quarterly Dividend". www.cadencebank.com. Retrieved 2018-07-23.
{{cite web}}: Cite has empty unknown parameter:|dead-url=(help) - ^ "Cadence agrees to buy State Bank in $1.4 billion all-stock deal". CNBC. 2018-05-14. Retrieved 2018-05-15.