Cadence Bank

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Cadence Bank at Concord Center, December 2012

Cadence Bank, N. A. is a Birmingham-based community bank with over 100 branches across Alabama, Mississippi, Florida, Georgia, Tennessee, and Texas, including 20 locations in the Birmingham District. Its headquarters moved to Birmingham in November 2011 when Cadence merged with Superior Bank, N. A.. Cadence Bank is owned by Houston, Texas-based Cadence Bancorp holding company. Corporate headquarters as of November 2012 are in the Concord Center.

Cadence history

pre-2012 Cadence logo

Cadence Bank was originally a Starkville, Mississippi-based bank founded in 1889 as National Bank of Commerce. As of November 2011 Cadence had 7 branches in Alabama, with 5 in Tuscaloosa and 2 in Hoover. Cadence operated 38 offices, and also has branches in Florida, Georgia, and Tennessee. During the early 2000s, the name was changed to Cadence to differentiate itself as it moved into markets which either currently or previously had other institutions using the National Bank of Commerce name.

In 2010, Cadence was ordered by the United States Office of the Comptroller to raise its capital ratio. After missing that deadline, Cadence entered into an acquisition agreement with Columbus, Mississippi-based Trustmark September 23, 2010, to avoid an FDIC takeover. That deal did not go through, as Cadence received a higher offer on October 5 from Community Bancorp LLC (CBC) of Houston, Texas. Cadence and CBC completed the acquisition on March 4, 2011. CBC merged Cadence with Superior Bank on November 11, 2011, and the headquarters was relocated to Birmingham. Sam Tortorici, Superior's CEO, continues as CEO of the merged company.

The bank closed seventeen branches in 2014 and eight more in 2015, while reporting gains in assets to over $8 billion.

Area locations

References


External links

Cadence Bank website