Cadence Bank

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Cadence Bank, N.A.
Subsidiary
IndustryFinancial Services
Founded2009
HeadquartersCorporate
Atlanta, Georgia
Executive & Operational
Concord Center
Birmingham, Alabama
Key people
Paul B. Murphy, Jr. Chairman
Sam Tortorici, Chief Executive Officer
Valerie Toalson, Chief Financial Officer
Hank Holmes, President.
ProductsCommercial 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
RevenueUS$607.3 million (2018)[1]
US$166.3 million (2018)[1]
Total assetsUS$17.4 billion (March 31, 2019)[2]
Total equityUS$1.4 billion (2018)[1]
Number of employees
1,800 (2018)[1]
ParentCadence Bancorporation
NYSECADE (Class A)
Russell 2000 Component
Websitehttps://cadencebank.com

Cadence Bank, N.A., based in Atlanta, Georgia, with executive and operations headquarters in Birmingham, Alabama, is a regional bank with 98 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, asset-based lending, commercial real estate, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, personal and business insurance, consumer banking, consumer loans, mortgages, home equity lines and loans, and credit cards.

History[edit]

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.[3] On January 1, 2019, State Bank's wholly owned subsidiary, State Bank and Trust Company, was merged into Cadence Bank.


References[edit]

  1. ^ a b c d e "Cadence Bank Annual Report 2018".
  2. ^ "Cadence Bancorporation 1Q 2019 Financial Results".
  3. ^ "Cadence agrees to buy State Bank in $1.4 billion all-stock deal". CNBC. 2018-05-14. Retrieved 2018-05-15.

External links[edit]