Cadence Bank Expands Its Texas Footprint Through Merger with Industry Bancshares
In a significant move within the financial sector, Cadence Bank announced its plans to merge with Industry Bancshares, Inc., which oversees several community banks across Texas. This merger aligns the strengths of both institutions, allowing them to better serve their customers and communities.
Founded in 1911 and based in Industry, Texas, Industry Bancshares operates 27 full-service banking locations mainly in Central and Southeast Texas. As it stands, the bank holding company has a robust financial foundation, reporting total assets of $4.4 billion, total loans of $1.1 billion, and total deposits amounting to $4.5 billion as of March 31, 2025. This merger agreement marks an exciting development, promising a significant expansion of Cadence Bank's footprint in Texas' growing markets.
Cadence Bank, listed on the NYSE under the ticker CADE, is poised to enhance its already considerable presence within Texas through this merger. The deal, expected to finalize in the second half of 2025, signifies Cadence Bank's commitment to strengthening its position in markets characterized by customer loyalty and community relationships. Upon closing, Cadence will pay between $20 million and $60 million to acquire all outstanding shares of Industry Bancshares.
Dan Rollins, chairman and CEO of Cadence Bank, expressed enthusiasm about the merger, stating, "What makes this alliance so impactful is that Cadence Bank's community banking foundation aligns well with the community focus of Industry Bancshares' six bank subsidiaries." Both banks are oriented towards facilitating customer growth by responding to local economic needs, a principle that is deeply ingrained in their operations.
Industry Bancshares' executive chairman, Carl J. Chaney, echoed this sentiment, noting that the merger represents a new chapter that amplifies their shared commitment to customer service. With Cadence's extensive resources and relationship-driven approach, customers can expect enhanced banking services and offerings that reflect the evolving financial landscape.
Post-merger, key community figures like Doak Hartley and Mike Kalina are expected to maintain their roles, ensuring continuity and trust for existing customers of Industry's banks—namely, the Bank of Brenham, Citizens State Bank, Fayetteville Bank, Industry State Bank, The First National Bank of Bellville, and The First National Bank of Shiner.
The agreement has gained unanimous approval from both banks' boards, though it still depends on various regulatory and shareholder approvals, along with standard closing conditions. Hovde Group LLC advised Industry Bancshares in this move, while UBS Investment Bank served as financial counsel for Cadence Bank.
For those interested in further details about the merger, an investor presentation has been made available on Cadence's Investor Relations page, with an upcoming conference call scheduled for April 28, 2025, aimed at discussing the merger's particulars. This strategic merger not only expands Cadence Bank's reach in Texas but also reinforces its commitment to a customer-first banking model in a landscape where community trust and service are paramount. Cadence Bank is on a trajectory to continue supporting local economies while enhancing financial solutions for the regions it serves.
Founded in 1911 and based in Industry, Texas, Industry Bancshares operates 27 full-service banking locations mainly in Central and Southeast Texas. As it stands, the bank holding company has a robust financial foundation, reporting total assets of $4.4 billion, total loans of $1.1 billion, and total deposits amounting to $4.5 billion as of March 31, 2025. This merger agreement marks an exciting development, promising a significant expansion of Cadence Bank's footprint in Texas' growing markets.
Cadence Bank, listed on the NYSE under the ticker CADE, is poised to enhance its already considerable presence within Texas through this merger. The deal, expected to finalize in the second half of 2025, signifies Cadence Bank's commitment to strengthening its position in markets characterized by customer loyalty and community relationships. Upon closing, Cadence will pay between $20 million and $60 million to acquire all outstanding shares of Industry Bancshares.
Dan Rollins, chairman and CEO of Cadence Bank, expressed enthusiasm about the merger, stating, "What makes this alliance so impactful is that Cadence Bank's community banking foundation aligns well with the community focus of Industry Bancshares' six bank subsidiaries." Both banks are oriented towards facilitating customer growth by responding to local economic needs, a principle that is deeply ingrained in their operations.
Industry Bancshares' executive chairman, Carl J. Chaney, echoed this sentiment, noting that the merger represents a new chapter that amplifies their shared commitment to customer service. With Cadence's extensive resources and relationship-driven approach, customers can expect enhanced banking services and offerings that reflect the evolving financial landscape.
Post-merger, key community figures like Doak Hartley and Mike Kalina are expected to maintain their roles, ensuring continuity and trust for existing customers of Industry's banks—namely, the Bank of Brenham, Citizens State Bank, Fayetteville Bank, Industry State Bank, The First National Bank of Bellville, and The First National Bank of Shiner.
The agreement has gained unanimous approval from both banks' boards, though it still depends on various regulatory and shareholder approvals, along with standard closing conditions. Hovde Group LLC advised Industry Bancshares in this move, while UBS Investment Bank served as financial counsel for Cadence Bank.
For those interested in further details about the merger, an investor presentation has been made available on Cadence's Investor Relations page, with an upcoming conference call scheduled for April 28, 2025, aimed at discussing the merger's particulars. This strategic merger not only expands Cadence Bank's reach in Texas but also reinforces its commitment to a customer-first banking model in a landscape where community trust and service are paramount. Cadence Bank is on a trajectory to continue supporting local economies while enhancing financial solutions for the regions it serves.
Topics Financial Services & Investing）
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