Merger • Financial Services

Cadence Bank Acquires FNB Bank

On January 13, 2021, Cadence Bank acquired financial services company FNB Bank for 108M USD

Acquisition Context
  • This is Cadence Bank’s 9th transaction in the Financial Services sector.
  • This is Cadence Bank’s 2nd largest (disclosed) transaction.
  • This is Cadence Bank’s 15th transaction in the United States.
  • This is Cadence Bank’s 2nd transaction in Alabama.

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M&A Deal Summary

Date January 13, 2021
Target FNB Bank
Sector Financial Services
Buyer(s) Cadence Bank
Deal Type Merger
Deal Value 108M USD
Advisor(s) Keefe, Bruyette & Woods (Financial)
Fenimore, Kay, Harrison & Ford (Legal)

Target Company

FNB Bank

Scottsboro, Alabama, United States
FNS operates 17 full-service banking offices in Alabama, Georgia and Tennessee. The merger will expand BancorpSouth's presence in Jackson, DeKalb and Marshall counties in Alabama and the Chattanooga, Tennessee-Georgia and Nashville-Davidson-Murfreesboro-Franklin, Tennessee metropolitan statistical areas.
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Buyer Overview 1

Buyer

Cadence Bank

Tupelo, Mississippi, United States

Category Company
Founded 1876
Sector Financial Services
Revenue 1.8B USD (2024)
DESCRIPTION

Cadence Bank provides commercial banking and financial services. Cadence Bank was formed in 1876 and is based in Tupelo, Mississippi.


Deal Context for Buyer #
Overall 15 of 18
Sector: Financial Services 9 of 11
Type: Merger 6 of 8
State: Alabama 2 of 2
Country: United States 15 of 18
Year: 2021 1 of 2
Size (of disclosed) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-02 National United Bancshares

Gatesville, Texas, United States

National United Bancshares, Inc. is a provider of financial services and operates six full-service banking offices in the Killeen-Temple, Texas; Waco, Texas; and Austin-Round Rock-Georgetown, Texas metropolitan statistical areas. National United Bancshares was founded in 1889 and is based in Gatesville, Texas.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-29 Cadence Bancorporation

Houston, Texas, United States

Cadence Bancorporation is a bank holding company established to acquire and operate failed or distressed U.S. banks. Cadence Bancorporation provides consumers, small and middle-market businesses, and commercial clients with a full range of innovative banking and financial solutions, and serves as a sound source of capital for leading companies. Cadence Bancorporation was founded in 1885 and is based in Houston, Texas.

Buy -