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. Cadence Bancorp, LLC, as the holding company is now known, invested $925 million of the original $1 billion to support banking in the Southeast U.S. and Texas.
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 128 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.
|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.|
|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.
Cadence Bank's fourth quarter 2012 Commercial & Industrial loan growth of 40.9 percent exceeds that of all U.S. banks, according to SNL Financial. Achievement attributed to specialized teams serving Commercial Real Estate, Convenience & Retail Petroleum, Energy Exploration & Production, Energy Midstream, Energy Oilfield Services, Healthcare, International, and Restaurant companies.
|April 2013||First retail office opens in San Antonio to serve commercial and consumer banking clients.|
Commercial & Industrial and Business Banking services are formed in Huntsville to meet the needs of local businesses in the Huntsville and North Alabama markets. A Mid-South Wealth Services team is also added to bring expanded products and services to these markets.
A Commercial Banking group is formed to serve Memphis and Mid-South businesses.