Posts Tagged ‘Community Bancorp’

Capital mixed with skill and luck gives Cadence success

by Ted Carter Published: July 12,2013

Tags: banking, Bauer Financial, Cadence Bank, Community Bancorp, finance, Sam Tortorici

A five-star Bauer Financial rating and a percentage of growth in commercial & industrial loans that topped all U.S. banks have made for a lot of pats on the back throughout the multi-state market of the $5.7 billion-asset Cadence Bank. From Cadence CEO Sam Tortorici’s perspective, “It’s amazing what a lot of capital and a […] [...]

New life, new money for resurgent Cadence

by Ted Carter Published: March 13,2011

Tags: Cadence National Bank, Community Bancorp, Mark Abernathy, MBJ FEATURE, Paul Murphy

Cadence National Bank has begun a new life as a privately owned institution flush with an additional $100 million in capital and freedom from a $44-million Troubled Asset Relief Program, or TARP, debt. “We’re going to do some things. It’s fun having money,” said Mark Abernathy, who took over as CEO for Lewis Mallory Jr. […] [...]

Cadence poised for new start as private, five-state bank

by Ted Carter Published: March 6,2011

Tags: Cadence National Bank, Community Bancorp, Lewis Mallory Jr., Mark Abernathy, Paul Murphy

Cadence National Bank was to shed its public company status Friday to become the private property of Community Bancorp LLC in an acquisition that rescued the Starkville regional bank from a federal order to significantly increase its capital levels. With the acquisition, Cadence gets a $100-million capital injection that frees it from a consent order […] [...]

Mallory exit to carry out earlier agreement on Cadence retirement

The early March closing of an acquisition by Houston banking investment company Community Bancorp, LLC, will mark the end of Cadence Financial Corp. chairman and CEO Lewis Mallory Jr.’s 47 years with the Starkville-based regional bank. Mark Abernathy, Cadence’s president, is expected to be elected CEO and Paul B. Murphy Jr., Community Bancorp president, chairman, […] [...]

Mallory carrying out 3-year-old agreement to retire as Cadence Bank CEO & chairman

By Ted Carter The early March closing of an acquisition by Houston banking investment company Community Bancorp LLC will mark the end of Cadence Financial Corp. Chairman & CEO Lewis Mallory Jr.’s 47 years with the Starkville-based regional bank. Mark Abernathy, Cadence’s president, is expected to be elected CEO and Paul B. Murphy Jr., Community […] [...]

Cadence not ready to report 4Q earnings

by Ted Carter Published: February 6,2011

Tags: Cadence Bank, Community Bancorp, Donna Rupp, Securities & Exchange Commission

Starkville regional bank poised to go private by end of first quarter Soon-to-go-private Cadence Bank of Starkville has decided to march to a different drummer in this year’s parade of fourth quarter earnings reports. Cadence, which will soon come under the private ownership of Houston banking investment group Community Bancorp LLC, says it will release […] [...]

Cadence Bank settles investor lawsuit

by Ted Carter Published: December 2,2010

Tags: Cadence Bank, Community Bancorp, Trustmark

SEC filing gives shareholders details on process for selecting merger partner. NEW YORK — With the clocking ticking down to a Dec. 9 Cadence Bank shareholder vote on an acquisition of the bank, Cadence has tentatively settled an investor lawsuit that claimed that the merger terms are tilted to benefit Cadence executives and board members […] [...]

Cadence reports continued losses

by Ted Carter Published: November 14,2010

Tags: Cadence Financial, Community Bancorp, Trustmark

Starkville-based bank had lower losses than same quarter in 2009 In a late arriving earnings report, Cadence Financial of Starkville last Wednesday reported a third quarter net loss of $7.5 million, or $0.63 per diluted share. The new round of losses come just ahead of a Dec.  9 shareholder meeting at which shareholders will vote […] [...]

MAKING THE DEAL: How Cadence decided to go with Community bancorp

by Ted Carter Published: October 24,2010

Tags: Cadence Bank, Community Bancorp, Trustmark

In mid-summer, Cadence Bank executives got the not-unexpected advice to forget about trying to solve the bank’s capitalization problems through an $80-million common stock offering. The current market won’t support it, cautioned Keefe, Bruyette & Woods, a New York investment banking firm hired as underwriters for the stock sale. So Cadence put the word out […] [...]

Trustmark loss of CADENCE stings but it’s not permanent

Getting jilted by Cadence Bank will cost Jackson’s Trustmark National Bank 7 cents in earnings per share for 2011, banking analyst Kevin Fitzsimmons of Sandler O’Neil & Partners estimates. The 7 cents reduction puts the earnings per share for next year back to pre-acquisition estimate of $1.52, said Fitzsimmons, managing partner of the New York-based […] [...]

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