Cadence Bank (1887–2021)
 | |
| Company type | Public company |
|---|---|
| Industry | Banking |
| Founded | April 30, 1887 |
| Defunct | October 29, 2021 |
| Fate | Acquired by BancorpSouth |
| Headquarters | Houston, Texas, U.S. |
Key people | Paul B. Murphy, Jr. Chairman Sam Tortorici, CEO Valerie Toalson, CFO Hank Holmes, President |
| Revenue |  Template:US$ (2020) |
 US$-205.53 million (2020) | |
| Total assets | US$18.71 billion (2020) |
| Total equity | US$2.12 billion (2020) |
Number of employees | 1,818 (2020) |
| Parent | Cadence Bancorporation |
Cadence Bank maintained a network of 99 branches throughout Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas. Its headquarters were located in Atlanta, with key executive and operational facilities based in Birmingham, Alabama. The bank functioned as the principal subsidiary of Cadence Bancorporation, which was headquartered in Houston.[1]
The institution also held the naming rights for the Cadence Bank Amphitheatre situated in Atlanta.
History
The bank was originally established on April 30, 1887, under the name First National Bank of Aberdeen, Mississippi. Over time, it experienced multiple mergers and rebrandings: changing to First National Bank of Monroe County in 1972; merging with Peoples Bank of Starkville in 1974 to become National Bank of Mississippi; and later that year joining with National Bank of Commerce of Columbus to form National Bank of Commerce of Mississippi. The entity adopted the Cadence Bank, N.A. name in 2005.[2]
Community Bancorp LLC was created in 2009 as the holding company and had secured $1 billion in capital commitments by 2010. It proceeded to acquire Cadence Bank in March 2011.[3]
Following the failure of Superior Bancorp in Birmingham, Cadence acquired it through an FDIC-assisted transaction in April 2011.Cite error: The opening <ref> tag is malformed or has a bad name
In November 2011, the bank relocated its headquarters from Starkville to Birmingham.[4]
The bank pursued growth through acquisitions including Encore Bank in July 2012,[1]Cite error: The opening <ref> tag is malformed or has a bad name and State Bank in January 2019,Cite error: The opening <ref> tag is malformed or has a bad name during which time it also moved its headquarters to Atlanta.[4]
In April 2021, Cadence Bancorporation merged with BancorpSouth Bank; the merged organization continued operating under the Cadence Bank brand.Cite error: The opening <ref> tag is malformed or has a bad name
References
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