Cadence Bank stockholders to meet Dec. 9
STARKVILLE — Stockholders of Cadence Financial Corp., the parent of Cadence Bank, will meet Dec. 9 in Starkville to consider a buyout by a private Houston, Texas-based investment firm.
The Commercial Dispatch reports a proxy statement and ballot approved by the Securities and Exchange Commission was issued to shareholders this week.
Cadence agreed to the buyout with Community Bancorp in late October. Cadence had backed out of an agreement to be bought by Trustmark Bank.
Community Bancorp, a company formed to invest in community banks, will continue to operate under the Cadence name and said that it planned to keep the bank’s executive team.
The transaction is expected to close by the first quarter of 2011.
Cadence has branches in Mississippi, Tennessee, Alabama, Florida and Georgia.
To sign up for Mississippi Business Daily Updates, click here.
Top Posts & Pages
- Bids on reworking Interstate 55 stretch are rejected
- Spivey named Under 40 Business Person of the Year by the Mississippi Business Journal
- JACK WEATHERLY: Economic development in these parts is a ‘family’ business
- ALAN TURNER: Education in Mississippi – good and bad news
- CFPB wants repay ability at center of new payday loan rules
- Hosemann to launch crowd funding program
- Terminal upgrade on indefinite hold at Jackson International Airport
- JOSH MABUS: The Tao of Road House
- Answering the Bell: Interim Ole Miss law school dean well-regarded for directing hands-on clinical training