Merger with Community Bancorp creates ‘new’ Cadence
by MBJ Staff
Published: November 3,2011
STARKVILLE — Community Bancorp will merge its banking subsidiaries, Superior Bank, N.A. and Cadence Bank, N.A., into one strong regional bank on Nov. 11 to form the new Cadence Bank, N.A. At the same time, Community Bancorp, LLC, will now be known as Cadence Bancorp, LLC.
With nearly $4.1 billion in assets, the new bank will employ 1,200 people at more than 100 branches throughout Alabama, Florida, Georgia, Mississippi, Tennessee and Texas, with headquarters in Birmingham, Ala. and corporate offices in Starkville and Houston, Texas.
“The merger introduces a strong and energized competitor to the marketplace,” said Paul Murphy, CEO of Cadence Bancorp and chairman of the new Cadence Bank. “Some of the most experienced professionals in the banking industry have come together to create a best-of-class bank. These are bankers who are dedicated to making Cadence an exceptional banking experience for customers and an unrivaled work environment for our employees.”
Customers of the current Cadence and Superior banks will experience no interruption in service during transition to the new Cadence Bank.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Canadian company purchasing Southern Lumber for nearly $50M
- Winchester lands $50M ammunition contract from Homeland Security
- Lawmakers question education leaders about escalating administrative costs
- Deer processors need to use caution to insure safe, tasty venison
- Peavey Electronics reorganizing under new globalization plan
- Pearl ordering rental properties to retrofit with sprinklers, build storm shelters
- Columbia Parachute expanding, relocating to BusinessPlex
- C Spire completes acquisition of MegaGate Broadband
- Tourism conference being held on Coast; industry to ask state for more money