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
- Voters to decide whether hunting, fishing is constitutional right
- DAVID DALLAS: You say “Obama”, I say “Ebola”
- MARTIN WILLOUGHBY: Andrew Adams helps grow Addicus
- MISSISSIPPI RISING: Time to sell the image
- C Spire wins national award, cash prize for marketing analytics
- Grand juries charge seven with election violations
- Dak Prescott's autograph fetches a pretty penny
- Butler Snow names Crockoft new office director
- Farm theft investigation recovers $200K in stolen equipment