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- Address5115 State Road 64 East, Bradenton, Florida, 34208
- Phone #941.744.9700
In 2009, a Houston-based bank holding company called Community Bancorp, LLC (CBC) was created to continue to help communities and businesses grow amidst the global financial crisis. Veteran Houston banking leader Paul B. Murphy, Jr. joined as Chief Executive Officer in 2010. Alongside a board that represents some of the best minds in banking, he successfully raised $1.0 billion in new capital to invest in the U.S. banking industry. These investors represent some of the best known pension and university endowments in the country. To date, Cadence Bancorp, LLC, as the holding company is now known, has invested $875 million of the original $1.0 billion.
Since its founding, CBC has made significant progress. In March 2011, CBC completed its first acquisition of Cadence Bank, N.A. Cadence Bank was founded in 1889 in Starkville, Mississippi and grew into a five-state financial services company with assets of $1.6 billion and 38 banking locations operating in Alabama, Florida, Georgia, Mississippi and Tennessee. One month later, CBC completed the acquisition of Birmingham-based Superior Bank from the Federal Deposit Insurance Company. Superior Bank operated 73 banking offices and 24 consumer finance offices in Alabama and Florida with $3.4 billion in assets.
A major milestone followed in November 2011 when CBC merged Superior Bank and Cadence Bank into one strong regional bank to form the new Cadence Bank, N.A., based in Birmingham. At the same time, CBC then became known as Cadence Bancorp, LLC, signifying the unity of one holding company with one bank under the Cadence brand.
With the acquisition of Houston-based Encore Bancshares, Cadence Bancorp has become a regional bank holding company with $5.5 billion in assets and a network of more than 100 branch locations in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.