Cadence Bank
Cadence Bank is a US-based bank with 99 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. The bank is based in Atlanta, with executive and operations headquarters in Birmingham, Alabama. It is the primary subsidiary of Houston, Texas based Cadence Bancorporation, a bank holding company.[1]
 | |
| Public company | |
| Traded as | NYSE: CADE Russell 2000 Index component |
| Industry | Banking |
| Founded | 2009 |
| Headquarters | Atlanta, Georgia, United States (Corporate) Concord Center Birmingham, Alabama (Executive & Operational) |
Key people | Paul B. Murphy, Jr. Chairman Sam Tortorici, CEO Valerie Toalson, CFO Hank Holmes, President |
| Revenue | $782.1 million (2019) |
| $202.2.0 million (2019) | |
| Total assets | $17.8 billion (December 31, 2019) |
| Total equity | $2.5 billion (2018) |
Number of employees | 1,800 (2018) |
| Website | cadencebank |
| Footnotes / references [1][2] | |
The bank owns the naming rights to the Cadence Bank Amphitheatre in Atlanta.
History
The bank was formed in 2009 as Community Bancorp LLC by banking industry veterans. In 2010, it secured $1.0 billion of capital commitments.[1]
In March 2011, it acquired Cadence Bank of Starkville, Mississippi.[1]
In April 2011, it acquired Superior Bancorp of Birmingham, Alabama in a transaction facilitated by the Federal Deposit Insurance Corporation after Superior Bank suffered from bank failure.[3]
In November 2011, the bank moved its headquarters from Starkville, Mississippi to Birmingham, Alabama.[4]
In July 2012, it acquired Encore Bank.[1][5][6]
In January 2019, the company acquired State Bank.[7][8][9] It also moved its headquarters to Atlanta.[4]
References
- "Cadence Bank Annual Report 2018".
- "Cadence Bancorporation Reports Fourth Quarter and Full Year 2019 Financial Results".
- "Failed Bank Information: Information for Superior Bank, Birmingham, AL". Federal Deposit Insurance Corporation.
- "FDIC: Atlantic Cadence Bank". Federal Deposit Insurance Corporation.
- "Cadence Bancorp, LLC Closes Acquisition of Encore Bancshares, Inc" (Press release). Business Wire. July 2, 2012.
- Cole, Antrenise (September 17, 2012). "Cadence Bank completes conversion with Encore Bank". American City Business Journals.
- "Cadence Bancorporation Announces Completion of Merger with State Bank Financial Corporation" (Press release). Business Wire. January 2, 2019.
- Thornton, William (January 2, 2019). "Cadence Bank merger complete". The Birmingham News.
- "Savannah: State Bank branches become Cadence Bank". Savannah Morning News. February 19, 2019.