Cadence Bank seals deal to buy Industry Bancshares

Cadence Bank is acceptable to grow successful the US with the acquisition of Texas-based Industry Bancshares for a information of $20m-60m.

The companies person entered a definitive merger woody successful this regard.

As per the agreed terms,Cadence Bank volition acquisition each outstanding communal banal of Industry Bancshares for a currency outgo ranging from $20m to $60m, depending connected the company's equity superior astatine the clip of closing, on with definite conditions and adjustments.

Industry Bancshares is the genitor institution of 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 woody has received unanimous support from the boards of directors of some companies.

Industry Bancshares enforcement president Carl Chaney said: “Cadence shares our heavy committedness to gathering beardown relationships and doing what is close for our customers and communities.”

Industry Bancshares, founded successful 1911 and based successful Industry, Texas, operates 27 full-service branches crossed Central and Southeast Texas.

As of 31 March 2025, the institution reported full assets of $4.4bn, full loans of $1.1bn, and full deposits of $4.5bn.

Key unit from Industry Bancshares, namely Doak Hartley, Michelle Hodge, Mike Mueller, Brent Jones, Gary Durrenberger, Kyle Holloway, Lisa Moeller, and Mike Kalina, are expected to clasp their positions wrong the merged entity.

Customers of Industry's six slope subsidiaries volition proceed to person services from their existing bankers.

Cadence Bank president and CEO said: “We are each profoundly focused connected taking attraction of our customers and the communities we serve.

“Because we run successful precise akin markets crossed Texas and the South, we recognize the needs of these section economies and tin bring expanded merchandise offerings and accrued lending opportunities to substance aboriginal growth.”

The woody is anticipated to beryllium finalised successful the 2nd fractional of 2025, contingent connected regulatory and shareholder approvals arsenic good arsenic different modular closing conditions.

Hovde Group was fiscal advisor to Industry Bancshares and Alston & Bird was ineligible counsel. Cadence Bank received fiscal guidance from UBS Investment Bank and ineligible proposal from Sullivan & Cromwell.

In January this year, Cadence Bank agreed to get FCB Financial, the genitor institution of First Chatham Bank, successful a woody worthy astir $103.6m.

"Cadence Bank seals woody to bargain Industry Bancshares" was primitively created and published by Retail Banker International, a GlobalData owned brand.

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