Superior Bank parent to merge subsidiaries to create Cadence Bank

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.

Superior Bank has branches locally in Gulf County and Mexico Beach.

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.

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

About Cadence Bancorp, LLC

Cadence Bancorp, LLC (CBC), formerly Community Bancorp, LLC, is a bank holding company headquartered in Houston, Texas. CBC has raised equity capital commitments of $1 billion for the purpose of making investments in the U.S. banking sector, with a particular focus on community banks that are well positioned to benefit from the equity capital, management and industry expertise CBC can provide. CBC was created to transform acquired financial institutions into robust banks that can stand on their own. Through exceptional customer service, a disciplined credit and risk management framework, cost controls and the implementation of enhanced technology, CBC will drive success and invest in the growth of communities where it intends to build a competitive franchise.