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Tag Archives: Trustmark

Cadence Bank being sued over sale to Texas company

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 trial date has been set. ...

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Trustmark CEO: Cadence deal lost luster after competitor upped ante

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 early October. Trustmark had a ...

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Cadence cites pressures in failed merger

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 timeouts left, according to a ...

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

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 that it wanted a buyer. ...

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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 its workforce, name and charter ...

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Community Bancorp LLC Now Acquiring Cadence

Terminates Merger Agreement with Trustmark STARKVILLE, Miss.–Cadence Financial Corporation (NASDAQ: CADE), the parent company of Cadence Bank, N.A., a bank holding company whose principal subsidiary is Cadence Bank, N.A., today announced that it has agreed to be acquired by Community Bancorp LLC (“CBC”), a Delaware limited liability company formed to invest in community banks. CBC has agreed to acquire Cadence ...

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Same office, new title

Host named president and chief executive officer of Trustmark Jerry Host sat in his roomy, comfortable office, sipping a cup of coffee while he reflected on his career at Trustmark National Bank, which began as the assistant manager of the bank’s investment department. “I started out right here in this very office,” said Host with a wry smile. “We had ...

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Trustmark impacted by charge-offs

JACKSON — Trustmark Corporation reports net income available to common shareholders of $13.4 million in the second quarter of 2009, which represented basic earnings per common share of $0.23. Earnings during the quarter were impacted by a previously announced special FDIC deposit insurance assessment applicable to all insured depository institutions, which reduced Trustmark’s net income by $2.7 million, or $0.05 ...

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Bruns host United Way reception

Denny and Vicki Bruns recently hosted a reception at their home in Madison for officials from the River Oaks Healthcare network of hospitals. Pictured during the presentation of a “campaign kickoff” donation on behalf of the hospitals are (l-r):  Denny Bruns, CEO, River Oaks Hospital; Monica Daniels, United Way; Carole Burger, United Way; Bill Williams, CFO, HMA Division 4; Barney ...

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