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Tag Archives: Paul Murphy

Getting Bigger by the Day: Cadence continues growth with Fed’s OK of Encore acquisition

Remember Cadence, the little regional bank company in Starkville? It’s all grown up now after last year buying an Alabama regional banking company more than twice its size and continuing its growth spurt with the May 31 Federal Reserve Board of Governors’ approval of the acquisition of Encore Banshares, a $1.6 billion Houston bank. Acquiring Encore is part of a ...

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No regrets from now profitable Cadence Bank

Relief and optimism have replaced last summer’s struggle for survival for Starkville’s Cadence National Bank. The new lease on life for the multi-state regional bank came courtesy of a nearly $150 million capital infusion from Community Bancorp LLC, a Houston, Texas, banking investment group that swooped in last October to take over Cadence after the bank had agreed to an ...

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New life, new money for resurgent Cadence

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. after Cadence’s acquisition by Houston ...

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

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 the Office of the Comptroller ...

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