Cadence mum on efforts to stave off takeover
STARKVILLE — Cadence Bank officials say they cannot comment on efforts to raise capital to meet federal requirements.
Bank officials tell The Commercial Dispatch that the bank is in a required quiet period and cannot comment.
They say the bank has not being taken over by the government and has not closed.
Cadence had until Sunday to raise total capital to at least 12 percent of risk-weighted assets and have Tier 1 capital — a common measure of the solvency of banks — at least equal to 9 percent of adjusted total assets, or it could be required to sell or merge.
That’s according to a May consent order the bank entered with the Office of the Comptroller of the Currency.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Alcorn president launches new customer service task force
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- David Duval, former British Open winner, joins Sanderson Farms field
- Court rules against Greenwood councilwoman; must give up office
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s bankruptcy will help consolidate lawsuits alleging breach of contract
- Cochran continues to reach out to African American voters
- Peoples Bank reports quarterly loss due to bad loans
- Senators write letter over Waters of the United States proposal