Cadence Bank: Difference between revisions
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[[Image:Cadence_One_Concord.jpg|right|thumb| | [[Image:Cadence_One_Concord.jpg|right|thumb|375px|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 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]]. | ||
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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. | 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== | ==Area locations== | ||
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* [[Hoover]]: 2755 [[John Hawkins Parkway]] | * [[Hoover]]: 2755 [[John Hawkins Parkway]] | ||
* [[Mountain Brook]]: 2717 [[Culver Road]], inside [[Western Supermarket]] | * [[Mountain Brook]]: 2717 [[Culver Road]], inside [[Western Supermarket]] | ||
* [[Northport]]: 3100 [[McFarland Boulevard]] West | * [[Northport]]: 3100 [[McFarland Boulevard]] West (closed 2015) | ||
* [[Oneonta]]: 608 2nd Avenue East | * [[Oneonta]]: 608 2nd Avenue East | ||
* [[Pelham]]: 101 [[Huntley Parkway]] | * [[Pelham]]: 101 [[Huntley Parkway]] (closed 2015) | ||
* [[Snead]]: 87615 [[U. S. Highway 278]] in [[Altoona]] | * [[Snead]]: 87615 [[U. S. Highway 278]] in [[Altoona]] | ||
* [[Sylacauga]]: 126 North Broadway Avenue | * [[Sylacauga]]: 126 North Broadway Avenue | ||
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* Hubbard, Russell (August 2, 2012) "[http://blog.al.com/businessnews/2012/08/cadence_bank_moves_to_concord.html Cadence Bank moves to Concord Center]." {{BN}} | * Hubbard, Russell (August 2, 2012) "[http://blog.al.com/businessnews/2012/08/cadence_bank_moves_to_concord.html Cadence Bank moves to Concord Center]." {{BN}} | ||
* Diel, Stan (October 24, 2012) "[http://blog.al.com/businessnews/2012/10/cadence_bank_sign_to_be_placed.html Cadence Bank sign to be placed atop downtown's Concord Center]." {{BN}} | * Diel, Stan (October 24, 2012) "[http://blog.al.com/businessnews/2012/10/cadence_bank_sign_to_be_placed.html Cadence Bank sign to be placed atop downtown's Concord Center]." {{BN}} | ||
* Seale, Michael (July 1, 2015) "Cadence Bank closes three Alabama branches." {{BBJ}} | |||
Revision as of 11:19, 3 July 2015
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
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
- Blountsville: 69156 Main Street
- Birmingham: Concord Center, 2100 3rd Avenue North
- Childersburg: 33327 U.S. Highway 280
- Chelsea: 104 Chelsea Pointe Drive
- Cleveland: 18045 Alabama Highway 160
- Gardendale: 2250 Mount Olive Road
- Greystone: 6801 Cahaba Valley Road
- Hoover: 2755 John Hawkins Parkway
- Mountain Brook: 2717 Culver Road, inside Western Supermarket
- Northport: 3100 McFarland Boulevard West (closed 2015)
- Oneonta: 608 2nd Avenue East
- Pelham: 101 Huntley Parkway (closed 2015)
- Snead: 87615 U. S. Highway 278 in Altoona
- Sylacauga: 126 North Broadway Avenue
- Trussville: 1950 Edwards Lake Road
- Tuscaloosa: 6561 Highway 69 South, Hillcrest
- Tuscaloosa: 1101 Greensboro Avenue
- Tuscaloosa: 1121 Veterans Memorial Parkway, University Mall
- Warrior: 218 Louisa Street
References
- Rupinski, Patrick (October 7, 2010) "Cadence Bank accepts higher merger offer." Tuscaloosa News
- Hubbard, Russell (April 15, 2011) "Banking regulators seize Superior Bank and Nexity Financial Corp." The Birmingham News
- Hubbard, Russell (April 19, 2011) "Superior's new owner seeks more." The Birmingham News
- Hubbard, Russell (November 3, 2011) "Cadence Bank declines chance to buy John Hand Building, downtown Birmingham landmark." The Birmingham News
- Hubbard, Russell (August 2, 2012) "Cadence Bank moves to Concord Center." The Birmingham News
- Diel, Stan (October 24, 2012) "Cadence Bank sign to be placed atop downtown's Concord Center." The Birmingham News
- Seale, Michael (July 1, 2015) "Cadence Bank closes three Alabama branches." Birmingham Business Journal
External links
Cadence Bank website