Cadence Bank Completes Successful Merger with Encore Bank
FOR IMMEDIATE RELEASE
Contact: Danielle Kernell Cadence Bank, N.A. 713-871-4051 direct | 713-392-7709 mobile [email protected]
Cadence Bank Completes Successful Merger with Encore Bank
More Than 40,000 Customers Seamlessly Convert to New Products and Systems HOUSTON — Sept. 17, 2012 — Cadence Bank today announced the final step in its merger with Encore Bank was completed over the weekend as more than 40,000 customers were successfully migrated to Cadence’s systems and products. “We are exceptionally proud to welcome Encore customers to our family,” said Paul B. Murphy, Jr., chairman of Cadence Bank and president & CEO of Cadence Bancorp, the parent company. “The migration this past weekend to the Cadence systems was virtually uneventful, so for our new customers, their banking experience will be seamless.” Representatives of both banks worked in teams to cover all aspects of the conversion, including mapping checking and other accounts to new or similar services and ensuring that loans, treasury management, foreign exchange and other capabilities were readily available to customers. “The planning and preparation certainly paid off,” said Hank Holmes, president of Cadence Bank, Texas Region. “We wanted to provide a transition that was stellar and we did. The teams did a terrific job of putting themselves in our customers’ shoes to ensure every detail was covered.” The legal merger closed on July 2, 2012. Cadence Bank now has $5.5 billion in assets, more than 140,000 customers and a network of over 100 locations in six states—Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. With the conversion, signage at the banking centers was changed and the Cadence brand adopted. “The response by the community and our new banking clients, both consumer and business, to the new products and services we offer has been extremely gratifying,” added Murphy. “It is exciting to build a new bank founded on a history of delivering outstanding customer service that has resulted in amazing customer loyalty. We are 100 percent committed to continuing this rich tradition.” The merger of the two banks has brought about solid business synergies that promise an expanded array of highly relevant solutions for business and consumer clients, including an industry-leading suite of treasury management solutions. With the addition of Encore’s Linscomb & Williams wealth management and Trust groups, as well as Town & Country Insurance, Cadence will extend deeper into these segments to better serve its customers.
About Cadence Bank Cadence Bank, N.A., a wholly-owned subsidiary of Houston-based Cadence Bancorp, LLC, is a $5.5 billion bank that operates more than 100 locations across Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Cadence provides consumers, small- and middle-market businesses, and commercial clients with a full range of banking, financial management, investment and trust services, treasury management, international, retail and mortgage products. Backed by 126 years of financial expertise, Cadence is a sound source of capital for companies operating within its six-state footprint and specializes in industry-leading treasury management services. Driven to do the right thing, Cadence’s mission is to use all of its resources, tools and services to deliver on customers’ goals, accelerate growth and fund innovation. Additional information about Cadence and its full line of products and services can be found at www.cadencebank.com. ###
Contact: Danielle Kernell Cadence Bank, N.A. 713-871-4051 direct | 713-392-7709 mobile [email protected]
Cadence Bank Completes Successful Merger with Encore Bank
More Than 40,000 Customers Seamlessly Convert to New Products and Systems HOUSTON — Sept. 17, 2012 — Cadence Bank today announced the final step in its merger with Encore Bank was completed over the weekend as more than 40,000 customers were successfully migrated to Cadence’s systems and products. “We are exceptionally proud to welcome Encore customers to our family,” said Paul B. Murphy, Jr., chairman of Cadence Bank and president & CEO of Cadence Bancorp, the parent company. “The migration this past weekend to the Cadence systems was virtually uneventful, so for our new customers, their banking experience will be seamless.” Representatives of both banks worked in teams to cover all aspects of the conversion, including mapping checking and other accounts to new or similar services and ensuring that loans, treasury management, foreign exchange and other capabilities were readily available to customers. “The planning and preparation certainly paid off,” said Hank Holmes, president of Cadence Bank, Texas Region. “We wanted to provide a transition that was stellar and we did. The teams did a terrific job of putting themselves in our customers’ shoes to ensure every detail was covered.” The legal merger closed on July 2, 2012. Cadence Bank now has $5.5 billion in assets, more than 140,000 customers and a network of over 100 locations in six states—Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. With the conversion, signage at the banking centers was changed and the Cadence brand adopted. “The response by the community and our new banking clients, both consumer and business, to the new products and services we offer has been extremely gratifying,” added Murphy. “It is exciting to build a new bank founded on a history of delivering outstanding customer service that has resulted in amazing customer loyalty. We are 100 percent committed to continuing this rich tradition.” The merger of the two banks has brought about solid business synergies that promise an expanded array of highly relevant solutions for business and consumer clients, including an industry-leading suite of treasury management solutions. With the addition of Encore’s Linscomb & Williams wealth management and Trust groups, as well as Town & Country Insurance, Cadence will extend deeper into these segments to better serve its customers.
About Cadence Bank Cadence Bank, N.A., a wholly-owned subsidiary of Houston-based Cadence Bancorp, LLC, is a $5.5 billion bank that operates more than 100 locations across Alabama, Florida, Georgia, Mississippi, Tennessee and Texas. Cadence provides consumers, small- and middle-market businesses, and commercial clients with a full range of banking, financial management, investment and trust services, treasury management, international, retail and mortgage products. Backed by 126 years of financial expertise, Cadence is a sound source of capital for companies operating within its six-state footprint and specializes in industry-leading treasury management services. Driven to do the right thing, Cadence’s mission is to use all of its resources, tools and services to deliver on customers’ goals, accelerate growth and fund innovation. Additional information about Cadence and its full line of products and services can be found at www.cadencebank.com. ###
