The financial world had seen tough times when in 2009 banking leader Paul B. Murphy, Jr. was tapped as CEO to lead a Houston-based holding company, formed to promote community and business growth, called Community Bancorp, LLC (CBC). Murphy recruited a talented management team.
Alongside a board that represents some of the best minds in banking, the management team successfully completed a $1 billion capital raise in late 2010 to invest in the U.S. banking industry. These patient investors represent some of the best known pension funds and university endowments in the country. To date, Cadence Bancorp, LLC, as the holding company is now known, has invested $925 million of the original $1 billion.
With its extremely strong capital base, Cadence Bancorp continues to evaluate opportunities to acquire banks that could thrive with fresh capital, experienced management and technology investments.
As a new bank, founded on 126 years of financial expertise, Cadence is setting a fresh pace in the banking industry. Cadence is constantly looking for opportunities to grow not only its physical presence across the Southeast and in Texas, but its intellectual presence as well, investing in new tools and services to better help customers manage their finances comfortably, naturally and successfully. Cadence Bank’s story is one of continual growth. And all are invited to be part of it. By remaining focused on staying in stride with its customers and its communities every step of the way, Cadence Bank hopes to help everyone find their Cadence.
|1887||Cadence Bank is founded in Starkville, Miss.|
Paul B. Murphy, Jr. is hired as CEO of holding company, Community Bancorp, LLC (CBC).
CBC acquires Cadence Bank, N.A., which had grown to 1.6 billion in assets with 38 locations in Alabama, Florida, Georgia, Mississippi and Tennessee.
|April 2011||CBC purchases Birmingham-based Superior Bank, with $3.4 billion in assets as well as 73 banking offices and 23 consumer finance offices in Alabama and Florida, from the FDIC.|
|July 2011||Sam Tortorici is hired as CEO of banking operations.|
An extensive team of talented and experienced bankers joins Cadence’s senior leadership team, building out its key lines of business: Business Banking, Commercial and Industrial, International, Real Estate, Wealth Services and Specialized Industries.
CBC merges Superior Bank and Cadence Bank into Cadence Bank, N.A., a regional bank based in Birmingham.
CBC adopts its new name, Cadence Bancorp, LLC, signifying the unity of one holding company, based in Houston, with one banking subsidiary under the Cadence brand.
Cadence Bank acquires Houston-based Encore Bancshares and becomes a regional bank with assets of more than $5.4 billion and a network of over 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.
Cadence Bank expands Commercial and Business Banking efforts in Tampa.
Cadence Bancorp, LLC secures experienced team of San Antonio bankers to expand Cadence’s growth opportunities and support local business development in central Texas.
Cadence Bank seamlessly converts more than 40,000 Encore Bank customers to its banking platforms.