Posts Tagged ‘Trustmark’

Cadence Bank settles investor lawsuit

by 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 […] [...]

CEO’s post-retirement plans still not settled

  Richard Hickson says his Trustmark workload has left him little time to decide what he’ll do in retirement beyond involvement in his two principal civic causes – Millsaps College and St. Dominic Hospital. Two other things he knows for certain. He’ll be 67 and a full-time Mississippi resident. He said his interests are likely […] [...]

Cadence reports continued losses

by 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 […] [...]

Trustmark says strides made putting Memphis real estate loans troubles in past

by Published: November 7,2010

Tags: Richard Hickson, Trustmark

Trustmark’s Richard Hickson isn’t quite sure what to make of Memphis. The chairman & CEO has wrestled more with real estate loan problems in Florida. But Tennessee, especially Memphis, occupied a lot of his attention in the last quarter. The past quarter impaired loans in Memphis and the rest of Tennessee forced the Jackson-based Trustmark […] [...]

Cadence Bank stockholders to meet Dec. 9

by Published: November 5,2010

Tags: Cadence Bank, Trustmark

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 […] [...]

Cadence Bank being sued over sale to Texas company

by Published: November 4,2010

Tags: Bancorp, Cadence Bank, lawsuit, sued, Trustmark

STARKVILLE — Cadence Bank and its officers have been accused in a lawsuit filed in New York State Supreme Court of misleading investors about the financial institution’s sale. The Columbus Commercial Dispatch reports that the lawsuit was filed by RSD Capital in New York because Cadence’s stock is traded on the Nasdaq stock exchange. No […] [...]

Trustmark CEO: Cadence deal lost luster after competitor upped ante

by Published: October 31,2010

Tags: Cadence, Richard Hickson, Trustmark

Trustmark ready to consider new acquisition opportunities if money potential is right. Trustmark executives backed away from the Cadence acquisition because a bid showdown with competing suitor Community Bancorp of Houston had too much short-term downside, said Trustmark chairman and CEO Richard Hickson in his first public remarks about his bank’s loss of the merger in […] [...]

Cadence cites pressures in failed merger

by Published: October 24,2010

Tags: Cadence Bank, John Allison, Ken Cyree, Lewis Mallory Jr., Trustmark

Sept. 20 deadline apparently was dealbreaker As September moved past its mid-point, Cadence Bank executives saw their choices narrowed to this: Get a buyer deal done right away or feel the heat of federal sanctions for failing to meet a Sept. 19 deadline to significantly raise capital reserves. Cadence faced a two-minute drill with no […] [...]

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

by 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 […] [...]

So much for a handshake

Cadence spurns Trustmark for upstart Houston investment group In the end, Starkville-based Cadence Bank’s handshake and “definitive agreement” with Trustmark National Bank went by the wayside last Wednesday in exchange for an attractive sale price and immediate capital injection of upwards of $200 million from a Houston banking investment group. The prospect of keeping intact […] [...]

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