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.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- NEW IN MADISON COUNTY — Mississippi Bio-Medical Business Collaboratory to be introduced Friday
- GreenTech holds grand opening of neighborhood electric vehicle plant
- Turner Grain’s transition will help consolidate lawsuits alleging breach of contract
- Alcorn president launches new customer service task force
- David Duval, former British Open winner, joins Sanderson Farms field
- Mississippi Film Studios signs contract with New Orleans company
- MDOT cutting more than 40 jobs in Right-of-Way Division
- Mars Food expanding Delta plant; investing $31M and adding jobs
- Granddaughter of Barq's Root Beer founder dies at 90