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.
Top Posts & Pages
- DeSoto County Supervisor Lee dies in ATV accident on his birthday
- Molpus closes Fund after more than $662M in commitments
- Kemper County plant will cost at least another $496M to complete
- Cochran calls on EPA for review of Yazoo Backwater Project
- State Sen. Gandy hospitalized in South America
- Number of requests for general election absentee ballots roughly same as primary
- Camgian launches Internet of Things product called Egburt
- After string of losses, O'Hara sees himself as Senate 'protest vote'
- Former Mississippi First Lady Carroll Waller dies at 87