Cadence Bancorp

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Cadence Bancorp (originally Community Bancorp LLC) is a Houston, Texas bank holding company. Community Bancorp (CBC) was founded in 2010 by former Amegy Bank founder Paul Murphy with the intention of acquiring existing community banks which are failing due to the lending bubble which burst during the Great Recession. CBC's acquisitions as of April 2011 have been Cadence Bank and Superior Bank, N. A.. Cadence, based in Starkville, Mississippi, had 38 branches in 5 states, including 7 branches in Tuscaloosa and Birmingham. Superior was headquartered in Birmingham with 73 branches across Alabama and Florida. In November 2011 the two institutions merged, retaining the Cadence Bank name, and Community Bancorp announced plans to change its name to "Cadence Bancorp".

In March 2012, Cadence Bank opened a de novo branch in Houston, Texas. Later that month, Cadence Bancorp entered into an agreement with Encore Bancshares of Houston, Texas. Encore Bank has 12 branches in the greater Houston area.

Acquisitions

References

  • Rupinski, Patrick (October 7, 2010) "Cadence Bank accepts higher merger offer." Tuscaloosa News
  • Hubbard, Russell (April 19, 2011) "Superior's new owner seeks more." Birmingham News
  • Hubbard, Russell (November 3, 2011) "Cadence Bank declines chance to buy John Hand Building, downtown Birmingham landmark." Birmingham News
  • Hubbard, Russell (March 6, 2012) "Birmingham's Cadence Bancorp spends $250 million in cash to buy Houston's Encore Bancshares." Birmingham News