Cadence Bank History
Helping people, companies and communities prosper
In 1876, in the back of a hardware store in Verona, Mississippi, a new approach to banking was born – an approach built on longevity and the principle that neighbors should help neighbors. It was based on the idea that to better serve a customer is to understand what is right for them.
We’ve come a long way since then, but our commitment to helping people, companies and communities prosper is still the same. Here are some important milestones in our company's history:
| 1876: It all began in the back of a hardware store | Raymond Trice and Company, a modest mercantile operation in Verona, Mississippi, received a perpetual charter to set up a bank in its store. |
| 1886: Moving Uptown | Raymond Trice and Company moved its banking operations to nearby Tupelo and changed its name to Bank of Lee County, which later became the Bank of Tupelo. |
| 1966: The Bank of Mississippi | After growing our footprint far beyond the Tupelo area, the Bank of Tupelo changed its name to Bank of Mississippi to more accurately reflect its reach. |
| 1987: Going Statewide | Bank of Mississippi merged with First Mississippi National Bank, becoming the state’s first truly statewide bank. |
| 1992: Crossing State Lines | The Federal Interstate Banking Law passed, allowing BancorpSouth, Inc. to extend its reach into Tennessee through the purchase of Volunteer Bank of Jackson. |
| 1998: The Twin States | Subsequent mergers and acquisitions along with de novo and branch expansion resulted in the company having operations in Alabama. |
| 1999: Becoming BancorpSouth | Bank of Mississippi officially changed its name to BancorpSouth, signaling an intention to expand to surrounding states. |
| 1999: Insuring the Future | BancorpSouth entered the property and casualty business with the acquisition of Stewart, Snee, Hewes Insurance, an agency that was, at the time, the largest independent insurance agency in Mississippi. |
| 2000: Jumping Up in the Rankings | BancorpSouth merged with First United Bancshares, entering Arkansas, Louisiana and Texas, and creating a $9 billion bank that ranked in the top 100 banking companies in America. |
| 2003: A Growing Family | BancorpSouth acquired Wright & Percy Insurance, the oldest and largest independent insurance agency in Louisiana, with locations in Baton Rouge, Shreveport, Lake Charles and Alexandria. In that same year, BancorpSouth merged with Ramsey, Krug, Farrell and Lensing, one of the largest independent insurance agencies in Arkansas. |
| 2006: Welcome to the Sunshine State | BancorpSouth entered Florida with the opening of a branch in Destin. |
| 2016: Growing Fast | BancorpSouth continued to expand quickly over a decade with locations in new markets, such as Springfield, Missouri; Hot Springs, Rogers and Jonesboro, Arkansas. BancorpSouth expanded its Texas presence with locations in Dallas, Austin, Houston and Sugar Land. Locations were also added in Conway and Fayetteville, Arkansas; in Chattanooga, Tennessee; and in Lake Charles, Lafayette and Gonzales, Louisiana. |
| 2017: Twenty Years on the Big Board | BancorpSouth celebrated its 20 year anniversary of being traded on the New York Stock Exchange. |
| 2018: By Any Other Name | BancorpSouth Insurance Services, Inc., a subsidiary of BancorpSouth Bank, officially changed its name to BXS Insurance. BancorpSouth Bank acquired Ouachita Independent Bank in Louisiana and First State Bank of Central Texas and Icon Bank of Texas, National Association, both in Texas. |
| 2019: A Massive Milestone | BancorpSouth reached over $20 billion in assets. BancorpSouth acquired Grand Bank of Texas in Texas, Merchants Bank in Alabama, Summit Bank, National Association in Florida and Texas Star Bank in Texas. |
| 2020: A Brighter Future | BancorpSouth became the first Mississippi-based public company to join the CEO Action for Diversity & Inclusion™ pledge, as a declaration of its commitment to cultivating a diverse and inclusive workplace. BancorpSouth acquired Texas First State Bank, expanding its market presence in Waco, Texas and Killeen-Temple, Texas metropolitan statistical areas. |
| 2021: More Neighbors | BancorpSouth acquires FNB Bank and National United, expanding its market presence in Alabama, Georgia, Tennessee and Texas. |
| Also in 2021: New Cadence |
The company completed its transformational merger with Cadence Bancorporation, the parent company of Cadence Bank, N.A., which had been formed on the heels of the global financial crisis by a group of accomplished banking industry veterans with a powerful vision to revitalize banks through fresh capital and experienced management. The company was renamed Cadence Bank, with its stock continuing to trade on the New York Stock Exchange but under the symbol “CADE”. The merger created a new, even better bank. The new Cadence is built on what makes the combined organization a financial services partner with a genuine difference. That difference can be seen in how the company works with customers – and with one another – to help the people, companies and communities it serves prosper. |
