Cadence Bancorp Jr, CEO & president Paul Murphy said, "This acquisition considerably expands our presence in Houston and allows us to serve tens of thousands of new customers."
The banks said that the customers can avail banking services as usual and both will operate separately until the merger.
"We truly have one of the most talented teams of bankers in Houston. We started with a strong team at Cadence, and that has only been enhanced through this merger," Murphy added.
The deal has enabled Cadence Bancorp to become a regional bank holding company with $5.5bn in assets and a network of more than 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas, including 13 offices in Houston.
