M&A Deal Summary

Cadence Bank Acquires Merchants Bank

On November 13, 2018, Cadence Bank acquired financial services company Merchants Bank

Acquisition Highlights
  • This is Cadence Bank’s 4th transaction in the Financial Services sector.
  • This is Cadence Bank’s 9th transaction in the United States.
  • This is Cadence Bank’s 1st transaction in Alabama.

M&A Deal Summary
Date 2018-11-13
Target Merchants Bank
Sector Financial Services
Buyer(s) Cadence Bank
Deal Type Merger
Advisor(s) Porter White & Company LLC (Financial)
Jones Walker (Legal)

Target

Merchants Bank

Jackson, Alabama, United States
Merchants Bank is a traditional, but progressive, locally owned institution serving the people of Clarke, Washington, Mobile, and surrounding counties. Merchants Bank opened its doors to its downtown Jackson location in 1962. Merchants Bank had a modest beginning with a staff of only three officers, five employees, and assets of $400,000.00.

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Buyer(S) 1

Buyer

Cadence Bank

Tupelo, Mississippi, United States
Category Company
Founded 1876
Sector Financial Services
Employees5,322
Revenue 1.2B USD (2023)
DESCRIPTION

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

DEAL STATS #
Overall 9 of 16
Sector (Financial Services) 4 of 10
Type (Merger) 5 of 7
State (Alabama) 1 of 2
Country (United States) 9 of 16
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Grand Bank of Texas

Dallas, Texas, United States

Grand Bank of Texas operates four full-service banking offices in the cities of Dallas, Grand Prairie, Horseshoe Bay and Marble Falls, all in Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-05 Summit Bank National Association

Panama City, Florida, United States

Summit Bank is a regional Southeast US-based bank that offers a range of personal and business accounts, lending solutions, wealth management and investment services. Summit Bank maintains offices in Panama City, Panama City Beach, Fort Walton Beach, and Pensacola.

Buy $108M
Mergr

Product

Company

Legal