Relief and optimism have replaced last summer’s struggle for survival for Starkville’s Cadence National Bank.
The new lease on life for the multi-state regional bank came courtesy of a nearly $150 million capital infusion from Community Bancorp, a Houston, Texas, banking investment group that swooped in last October to take over Cadence after the bank had agreed to an acquisition by Jackson’s Trustmark.
It’s still a tough time to be a banker, said Cadence chairman Paul Murphy, the Community Bancorp chief who put the acquisition deal together last fall.
The sector has a lot of “revenue headwinds” and has entered a new and challenging regulatory era with the Dodd-Frank Wall Street Reform and Consumer Protection Act, he said.
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