Cadence agrees to buy State Bank in $1.4 billion all-stock deal

Cadence agrees to buy State Bank in $1.4 billion all-stock deal

Cadence Bancorp (NYSE:CADE)said on Sunday it had agreed to buy State Bank Financial in an all-stock deal valued at about $1.4 billion, signaling a potential rise in regional bank consolidation in the United States. The agreement, approved by the boards of both banks, will create an entity with $16 billion in assets and about 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas, the banks said in a press release. Investors expect a wave…

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