Cadence Bank (1887–2021)

This article is about the bank known as "Cadence Bank" between 2005 and 2021. For the bank that currently bears this name, see Cadence Bank.

Cadence Bank was a US-based bank with 99 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. The bank was based in Atlanta, with executive and operations headquarters in Birmingham, Alabama. It was the primary subsidiary of Houston, Texas based Cadence Bancorporation, a bank holding company.^[1]

Cadence Bank

Company type	Public company
Industry	Banking
Founded	April 30, 1887; 138 years ago (1887-04-30)
Defunct	October 29, 2021 (2021-10-29)
Fate	Acquired by BancorpSouth
Headquarters	Houston, Texas, U.S.
Key people	Paul B. Murphy, Jr. Chairman Sam Tortorici, CEO Valerie Toalson, CFO Hank Holmes, President
Revenue	US$542.54 million (2020)
Net income	US$-205.53 million (2020)
Total assets	US$18.71 billion (2020)
Total equity	US$2.12 billion (2020)
Number of employees	1,818 (2020)
Parent	Cadence Bancorporation
Footnotes / references [1][2][3][4]

Cadence Bank Memorial Branch in Houston, Texas

The bank owned the naming rights to the Cadence Bank Amphitheatre in Atlanta.

History

Cadence Bank was founded as the First National Bank of Aberdeen, on April 30, 1887. In 1972, it changed its name to the First National Bank of Monroe County in 1972. In March 1974, it merged with Peoples Bank in Starkville, Mississippi, becoming the National Bank of Mississippi in May of that year. In October 1974, it merged with the National Bank of Commerce of Columbus to become the National Bank of Commerce of Mississippi. In 2005, it changed its name to Cadence Bank, N.A.^[5]

The bank's parent company formed in 2009 as Community Bancorp LLC. In 2010, it secured $1 billion of capital commitments. It acquired Cadence Bank in March 2011.^[6]

In April 2011, it acquired Superior Bancorp of Birmingham, Alabama in a transaction facilitated by the Federal Deposit Insurance Corporation due to Superior Bank's failure.^[7]

In November 2011, the bank moved its headquarters from Starkville, Mississippi to Birmingham, Alabama.^[8]

In July 2012, it acquired Encore Bank.^[1][9][10]

In January 2019, the company acquired State Bank.^[11][12][13] It also moved its headquarters to Atlanta.^[8]

In April 2021, Cadence Bancorporation entered into a merger agreement with BancorpSouth Bank; the merged entity uses the Cadence Bank name.^[14]