Cadence CEO: No ‘golden parachutes’ in buyout deal
Shareholders of Cadence Financial Corp. Thursday approved the acquisition of the company by Texas-based Community Bancorp, in a deal that Cadence’s CEO said didn’t “provide any payout” to him or other executives.
Cadence settles class-action suit brought by shareholders
Cadence Financial Corp. has tentatively settled a lawsuit accusing the directors of the Starkville-based bank of misleading shareholders for personal profit.
CBC says it’s raised $1 billion
Community Bancorp, a Houston, Texas-based bank holding company established to acquire, stabilize and operate failed or distressed U.S. banks, announced this week that it has completed its capital raise and now has committed equity capital in the amount of $1 billion.
Cadence calls shareholder meeting to approve buyout
Cadence Financial Corp. has set what may be the final shareholder’s meeting in the bank’s 125-year history, with shareholders expected to sell their stock to a private Houston-based investment firm.
Trustmark: Cadence deal, though failed, can be primer for other banks
Trustmark Corp. believes its attempt to acquire Cadence Bank – even though it failed – can serve as a blueprint for other banks seeking to buy distressed institutions not yet under Federal Deposit Insurance Corporation control.
Editorial: Cadence deal with Texas firm benefits Golden Triangle
Cadence’s about-face on Wednesday, agreeing to be scooped up by a private investment firm one week after it had already agreed to be bought by Trustmark, is a positive outcome for the Starkville and Columbus communities.
Editorial: Cadence deal with Texas firm benefits Golden Triangle
Cadence’s about-face on Wednesday, agreeing to be scooped up by a private investment firm one week after it had already agreed to be bought by Trustmark, is a positive outcome for the Starkville and Columbus communities.
Cadence execs come along with buyout deal
The pending sale of Cadence Bank to Community Bancorp will result in the retention of the Cadence name, local bank branches and jobs, but the same executives who have come under fire recently for the downfall of the company appear to be on track to keep their positions.
Trustmark president: Bank got $2 million to walk away from Cadence deal
Jerry Host, president and chief operating officer of Trustmark National Bank, said this afternoon he didn’t know why Cadence Bank canceled a deal between the two for Trustmark to acquire Cadence.
Cadence press release: Q&A about Community Bancorp sale
Frequently asked questions distributed by Cadence to the media Wednesday.
Cadence drops Trustmark bid, agrees to sell to Texas firm
In a turn of events that shocked the local banking community this morning, Cadence Financial Corp. announced that it was dumping its previous buyout offer from Jackson-based Trustmark and agreed to be acquired by Community Bancorp LLC, a Houston-based company formed to invest in community banks.