Cadence Bank Completes its Acquisition of Industry Bancshares, Inc.

Rhea-AI Summary

Cadence Bank (NYSE: CADE) has successfully completed its acquisition of Industry Bancshares, Inc. and its six subsidiary banks, effective July 1, 2025. The merger, which received all necessary regulatory and shareholder approvals, significantly expands Cadence's Texas presence.

The combined entity will operate more than 380 branches across the South and Texas, with over 400 ATM and LIVE Teller locations. Industry Bancshares brought significant financial strength to the merger, reporting total assets of $4.4 billion, total loans of $1.1 billion, and total deposits of $4.5 billion as of March 31, 2025 (unaudited).

Customers of Industry Bancshares's subsidiaries will maintain their current banking services until operational integration occurs in Q4 2025. The FDIC will continue to insure customer deposits, with special provisions for time deposits extending through January 1, 2026.

Positive

• Acquisition expands network to over 380 branches across the South and Texas
• Industry Bancshares brings substantial assets ($4.4B), loans ($1.1B), and deposits ($4.5B)
• Cadence maintains investment-grade ratings from S&P Global and Moody's
• Transaction provides increased liquidity to support lending in Industry's markets
• Swift completion of merger indicates strong alignment between companies

Negative

• Operational integration not completed until Q4 2025
• Temporary complexity in deposit insurance coverage for time deposits through January 2026

HOUSTON and TUPELO, Miss., July 1, 2025 /PRNewswire/ -- Cadence Bank (NYSE: CADE) announced today the successful completion of its previously announced acquisition of Industry Bancshares, Inc., the bank holding company for Industry State Bank, The First National Bank of Bellville, Fayetteville Bank, Citizens State Bank, The First National Bank of Shiner and Bank of Brenham. Industry Bancshares was merged into Cadence Bank effective July 1, 2025, after receiving all required regulatory and shareholder approvals. 

"We are pleased to have received regulatory approval and completed our acquisition of Industry Bancshares, Inc. so quickly," states Dan Rollins, chairman and CEO of Cadence Bank. "Industry and its subsidiaries have deep roots in Texas—where we have a solid presence and a keen understanding of local economies— making this a seamless fit. With our strong balance sheet and broad array of products and services, we're excited about the growth opportunities for their people, customers and communities." 

As a well-capitalized public company with investment-grade ratings from S&P Global and Moody's, Cadence Bank maintains robust liquidity, a diversified, resilient balance sheet and strong operational performance and capital ratios. The combination of the two companies creates a meaningful franchise with financial solutions offered at more than 380 branches across the South and Texas and more than 400 ATM and LIVE Teller locations throughout the footprint. The merger also provides stability and consistency to Industry's banking operations and customer experience, and increased liquidity to support lending in Industry's markets.

Customers of Industry Bancshares's subsidiaries will not experience any immediate changes to their banking experience as a result of the merger and should continue using their existing branches, checks, deposit slips, debit card(s), online and mobile banking and other banking services. Customers will receive information regarding changes that may impact their accounts and services this fall as Cadence works toward operational integration in the fourth quarter of 2025. 

Rollins added: "This merger came together rapidly because of the strong alignment between our two companies and our dedication to the communities we serve. We are very proud of our team for their swift actions to move this transaction to completion, allowing us to quickly begin serving these customers and communities. We are grateful for the support and responsiveness of our regulators who helped make this process smooth and efficient."

Customer deposit accounts will continue to be insured by the Federal Deposit Insurance Corporation (FDIC). The separate insurance of deposits assumed from the six acquired banks continues for six months from July 1, 2025, or, in the case of a time deposit, the earliest maturity date after the six-month period. In the case of time deposits assumed from the six acquired banks which mature within six months of July 1, 2025, and which are renewed at the same dollar amount (either with or without accrued interest having been added to the principal amount) and for the same term as the original deposit, the separate insurance applies to the renewed deposits until the first maturity date after January 1, 2026. Time deposits that mature before January 1, 2026, and that are renewed on any other basis, or that are not renewed and thereby become demand deposits, are separately insured only until January 1, 2026.   

Industry Bancshares reported total assets of $4.4 billion, total loans of $1.1 billion and total deposits of $4.5 billion as of March 31, 2025 (unaudited).

Both companies share a firm commitment to customers and communities. Learn more at CadenceBank.com.

About Cadence Bank
Cadence Bank (NYSE: CADE) is a more than $52 billion regional financial services company committed to helping people, companies and communities prosper. With more than 380 locations spanning the South and Texas, Cadence offers comprehensive banking, investment, trust and mortgage products and services to meet the needs of individuals, businesses and corporations. Accolades include being recognized as one of the nation's best employers by Forbes and U.S. News & World Report and as a 2025 America's Best Banks by Forbes. Cadence maintains corporate offices in Houston, Texas and Tupelo, Mississippi, and has dutifully served customers for nearly 150 years. Learn more at www.cadencebank.com. Cadence Bank, Member FDIC. Equal Housing Lender.

Forward-Looking Statements
Certain statements contained in this press release may not be based upon historical facts and are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements may be identified by their reference to a future period or periods or by the use of forward-looking terminology such as "anticipate," "believe," "could," "continue," "seek," "intend," "estimate," "expect," "foresee," "hope," "may," "might," "plan," "should," "predict," "project," "goal," "outlook," "potential," "will," "will result," "will likely result," or "would" or future or conditional verb tenses and variations or negatives of such terms. These forward-looking statements include, without limitation, those relating to the terms, timing and closing of the merger and the benefits and synergies expected from the merger.

Cadence Bank cautions readers not to place undue reliance on the forward-looking statements contained in this press release, in that actual results could differ materially from those indicated in such forward-looking statements as a result of a variety of factors, many of which are beyond the control of Cadence Bank. These factors may include, but are not limited to, the ability of Cadence Bank and Industry Bancshares, Inc. to meet expectations regarding the accounting and tax treatments of the merger, the possibility that any of the anticipated benefits, cost savings and synergies of the merger will not be realized or will not be realized as expected, the ability of Cadence Bank to manage interest rate risk, the ability of Cadence Bank to sell the acquired securities portfolio and the pricing thereof; the acceptance by customers of Industry Bancshares, Inc. of Cadence Bank's products and services the effect of the announcement of the merger on Cadence Bank's operating results, the possibility that the merger and integration of acquired operations may be more expensive or time consuming to complete than anticipated, including as a result of unexpected factors or events, and the impact of all other factors generally understood to affect the assets, business, cash flows, financial condition, liquidity, prospects and/or results of operations of financial services companies and the other factors described under the caption "Risk Factors" in the Form 10-K. Forward-looking statements speak only as of the date of this press release and, except as required by law, Cadence Bank does not undertake any obligation to update or revise forward-looking statements to reflect events or circumstances that occur after the date of this press release.

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SOURCE Cadence Bank

FAQ

When did Cadence Bank (CADE) complete the acquisition of Industry Bancshares?

Cadence Bank completed the acquisition of Industry Bancshares on July 1, 2025, after receiving all required regulatory and shareholder approvals.

How many branches will Cadence Bank have after the Industry Bancshares acquisition?

Following the acquisition, Cadence Bank will operate more than 380 branches across the South and Texas, along with over 400 ATM and LIVE Teller locations.

What are the total assets and deposits that Industry Bancshares brings to Cadence Bank?

As of March 31, 2025, Industry Bancshares reported total assets of $4.4 billion, total loans of $1.1 billion, and total deposits of $4.5 billion (unaudited).

When will Industry Bancshares customers transition to Cadence Bank's systems?

Industry Bancshares customers will continue their existing banking services until the operational integration in the fourth quarter of 2025.

How long will FDIC insurance coverage continue for Industry Bancshares time deposits?

Separate FDIC insurance for time deposits continues for six months from July 1, 2025, with special provisions for renewed time deposits extending through January 1, 2026.