Cadence Bank Completes Merger with FCB Financial Corp.

Rhea-AI Summary

Cadence Bank (NYSE: CADE) has successfully completed its merger with FCB Financial Corp., the parent company of First Chatham Bank, a Savannah-based community bank. The strategic merger strengthens Cadence's market position in Savannah and Coastal Georgia. Ken Farrell, FCB Financial's long-time leader, will join Cadence Bank in a leadership role in Savannah. The merger aims to enhance customer service through an expanded suite of financial products and services, while creating new opportunities for employees, customers, communities, and shareholders.

Positive

• Strategic expansion in the Savannah and Coastal Georgia market
• Addition of experienced leadership with Ken Farrell joining the team
• Enhanced product and service offerings through combined capabilities

Negative

• None.

HOUSTON and TUPELO, Miss., May 1, 2025 /PRNewswire/ -- Cadence Bank (NYSE: CADE) today announced the successful completion of its previously announced merger with FCB Financial Corp., the bank holding company for First Chatham Bank, a Savannah, Georgia-based community bank. The merger enhances Cadence's growing presence in Savannah and Coastal Georgia while deepening the commitment to serving customers and communities.

"With the completion of our merger, we're positioned to continue our growth in Georgia and specifically in the Savannah market, offering a full suite of financial products and services and creating new opportunities to benefit our teammates, customers, communities and shareholders," said Dan Rollins, chairman and CEO of Cadence Bank. "This merger presents an exciting opportunity to join forces with an institution that shares our dedication to serving the community through relationship-driven banking. We are excited Ken Farrell, leader of FCB Financial for many years, is joining Cadence in an important leadership role in Savannah."

To learn more, visit CadenceBank.com.

About Cadence Bank
Cadence Bank (NYSE: CADE) is a $50 billion regional financial services company committed to helping people, companies and communities prosper. With more than 350 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 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 integration process after the 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 FCB Financial Corp. 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 acceptance by customers of FCB Financial Corp. of Cadence Bank's products and services, the possibility that the merger and integration process 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 and other documents subsequently filed by us with the Board of Governors of the Federal Reserve System. 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, whether as a result of new information, future developments or otherwise.

New risks and uncertainties may emerge from time to time, and it is not possible for Cadence to predict their occurrence or how they will affect Cadence.  The foregoing should be read in conjunction with those risk factors that are set forth from time to time in Cadence's periodic and current reports filed with its primary federal regulator, including those factors included in Cadence's Annual Report on Form 10-K for the year ended December 31, 2024 under the heading "Item 1A. Risk Factors," in Cadence's Quarterly Reports on Form 10-Q under the heading "Part II-Item 1A. Risk Factors," and in Cadence's Current Reports on Form 8-K.

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SOURCE Cadence Bank

FAQ

What is the significance of Cadence Bank's merger with FCB Financial Corp?

The merger strengthens Cadence Bank's presence in Savannah and Coastal Georgia, expands their financial product offerings, and brings in key leadership talent with FCB's Ken Farrell joining the team.

Who is the CEO of Cadence Bank (CADE) after the FCB Financial merger?

Dan Rollins continues to serve as the chairman and CEO of Cadence Bank following the merger with FCB Financial Corp.

What happens to FCB Financial's leadership after the Cadence Bank merger?

Ken Farrell, who led FCB Financial, will join Cadence Bank in a leadership position in Savannah.

What markets will Cadence Bank (CADE) expand into with the FCB Financial merger?

The merger enhances Cadence Bank's presence in Savannah and Coastal Georgia markets.