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Community Bancorp Announces the New Cadence Bank

Birmingham, Ala. – Community Bancorp will merge its banking subsidiaries, Superior Bank, N.A. and Cadence Bank, N.A., into one strong regional bank on Nov. 11 to form the new Cadence Bank, N.A. At the same time, Community Bancorp, LLC, will now be known as Cadence Bancorp, LLC.

With nearly $4.1 billion in assets, the new bank will employ 1,200 people at more than 100 branches throughout Alabama, Florida, Georgia, Mississippi, Tennessee and Texas, with headquarters in Birmingham, Ala. and corporate offices in Starkville, Miss. and Houston, Texas.

“The merger introduces a strong and energized competitor to the marketplace,” said Paul Murphy, chief executive officer of Cadence Bancorp and chairman of the new Cadence Bank. “Some of the most experienced professionals in the banking industry have come together to create a best-of-class bank. These are bankers who are dedicated to making Cadence an exceptional banking experience for customers and an unrivaled work environment for our employees.”

Customers of the current Cadence and Superior banks will experience no interruption in service during transition to the new Cadence Bank. Customers will notice a fresh in-branch experience as employees highlight new products and services over the coming months and as branches feature new signage and collateral material in the coming weeks.

“Tailoring the customers’ experience by listening to their needs will be the central focus of our efforts,” noted Sam Tortorici, chief executive officer of the new Cadence Bank. “Building on Cadence’s 126-year history and through a focus on localized customer service and commitment to engaging the community, we hope to enhance our customers’ business and personal financial results by hearing their needs and crafting sound financial solutions.”

The well-capitalized union will result in improvements to technology, including the introduction of mobile banking to Superior customers in Alabama and Florida, as well as enhanced treasury management services for businesses. As the new Cadence Bank further evolves over the months ahead, delivering innovative technology and financial solutions will cement the new Cadence Bank as an industry leader among both customers and employees.

About the new Cadence Bank


The new Cadence Bank, N.A., a wholly-owned subsidiary of Cadence Bancorp, LLC, will be a $4.1 billion Southeastern bank headquartered in Birmingham, Alabama. Committed to local decision making, the new Cadence Bank will operate more than 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas, as well as six mortgage offices in Alabama and Florida.

The new Cadence Bank will offer competitive and industry-leading banking products and financial solutions that include retail banking, commercial and wholesale banking, treasury management, Small Business Administration loans, consumer loans, mortgages, home equity lines and loans, and investments. The new Cadence Bank will be dedicated to unparalleled customer service delivered by people who care, where each customer receives the kind of responsive, personalized attention they deserve.

Forward-Looking Statements: This press release contains forward-looking statements. Any statements about our expectations, beliefs, plans, predictions, forecasts, objectives, assumptions or future events or performance are not historical facts and may be forward-looking. Accordingly, these statements are only predictions and involve estimates, known and unknown risks, assumptions and uncertainties that could cause actual results to differ materially from those expressed in them. Our actual results could differ materially from those anticipated in such forward-looking statements, including as a result of factors outside CBC’s control, such as economic and other conditions in the markets in which we operate; managements’ ability to effectively execute its business plans; regulatory actions; changes in capital classification; changes in the economy affecting real estate values; inability to attract and retain deposits; changes in the financial performance and/or condition of borrowers; inflation, interest rate, cost of funds, securities market and monetary fluctuations; changes in laws and regulations; and competition. All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not differ materially from expectations, and, therefore, you are cautioned not to place undue reliance on such statements. Further, any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events.

For additional information, visit SuperiorBank.com or CadenceBank.com.

About Cadence Bank

Cadence Bank, N.A., based in Birmingham, Ala., is a $5.7 billion bank with more than 100 locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Backed by 126 years of financial expertise, Cadence serves commercial and consumer clients with a full range of innovative banking and financial solutions designed to keep pace with their lives. These products and services include commercial and consumer banking, small business banking, treasury management, international banking, specialized lending, commercial real estate, wealth management, investment and trust services, financial planning, retirement plan management, business and personal insurance, consumer loans, mortgages, home equity lines and loans, and credit cards. Cadence Bank and its affiliates, Linscomb & Williams and Cadence Insurance Agency, are wholly owned subsidiaries of Houston-based Cadence Bancorp, LLC. Additional information about Cadence Bank is available at cadencebank.com. Cadence Bank, N.A. Member FDIC. Equal Housing Lender.


Contact Information: 


Becci Hart or Lindsay Seal


Cadence Bank, N.A.
205-803-000




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