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 129 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.