Cadence Bank Receives Regulatory Approvals for its Merger with FCB Financial Corp.
Cadence Bank (NYSE: CADE) has secured all regulatory approvals for its planned merger with FCB Financial Corp., the parent company of First Chatham Bank. The merger is set to close on May 1, 2025, pending customary closing conditions.
First Chatham Bank, a Savannah, Georgia-based community bank with over two decades of service, reported the following unaudited figures as of December 30, 2024:
- Total Assets: $589 million
- Total Loans: $326 million
- Total Deposits: $507 million
Cadence Bank (NYSE: CADE) ha ottenuto tutte le approvazioni regolatorie per la sua fusione pianificata con FCB Financial Corp., la società madre di First Chatham Bank. La fusione dovrebbe concludersi il 1 maggio 2025, a condizione che vengano soddisfatte le consuete condizioni di chiusura.
First Chatham Bank, una banca comunitaria con sede a Savannah, Georgia, che opera da oltre due decenni, ha riportato i seguenti dati non verificati al 30 dicembre 2024:
- Attivi totali: 589 milioni di dollari
- Prestiti totali: 326 milioni di dollari
- Depositi totali: 507 milioni di dollari
Cadence Bank (NYSE: CADE) ha obtenido todas las aprobaciones regulatorias para su fusión planificada con FCB Financial Corp., la empresa matriz de First Chatham Bank. La fusión está programada para cerrarse el 1 de mayo de 2025, sujeto a las condiciones de cierre habituales.
First Chatham Bank, un banco comunitario con sede en Savannah, Georgia, con más de dos décadas de servicio, reportó las siguientes cifras no auditadas al 30 de diciembre de 2024:
- Activos totales: 589 millones de dólares
- Préstamos totales: 326 millones de dólares
- Depósitos totales: 507 millones de dólares
Cadence Bank (NYSE: CADE)는 FCB Financial Corp.와의 계획된 합병에 대한 모든 규제 승인을 확보했습니다. 합병은 2025년 5월 1일에 종료될 예정이며, 일반적인 종료 조건이 충족되어야 합니다.
First Chatham Bank는 조지아주 사바나에 본사를 둔 지역 은행으로, 20년 이상의 서비스를 제공하고 있으며, 2024년 12월 30일 기준으로 다음과 같은 비감사 재무 수치를 보고했습니다:
- 총 자산: 5억 8900만 달러
- 총 대출: 3억 2600만 달러
- 총 예금: 5억 700만 달러
Cadence Bank (NYSE: CADE) a obtenu toutes les approbations réglementaires pour sa fusion prévue avec FCB Financial Corp., la société mère de First Chatham Bank. La fusion devrait être finalisée le 1er mai 2025, sous réserve des conditions de clôture habituelles.
First Chatham Bank, une banque communautaire basée à Savannah, en Géorgie, qui opère depuis plus de deux décennies, a rapporté les chiffres non audités suivants au 30 décembre 2024 :
- Actifs totaux : 589 millions de dollars
- Prêts totaux : 326 millions de dollars
- Dépôts totaux : 507 millions de dollars
Cadence Bank (NYSE: CADE) hat alle regulatorischen Genehmigungen für die geplante Fusion mit FCB Financial Corp., der Muttergesellschaft von First Chatham Bank, erhalten. Die Fusion soll am 1. Mai 2025 abgeschlossen werden, vorbehaltlich der üblichen Abschlussbedingungen.
First Chatham Bank, eine Gemeinschaftsbank mit Sitz in Savannah, Georgia, die seit über zwei Jahrzehnten tätig ist, berichtete zum 30. Dezember 2024 über folgende ungeprüfte Zahlen:
- Gesamtvermögen: 589 Millionen Dollar
- Gesamtforderungen: 326 Millionen Dollar
- Gesamteinlagen: 507 Millionen Dollar
- Expansion into Greater Savannah market
- Addition of $589M in assets to CADE's portfolio
- Acquisition of $507M in deposits
- None.
The merger is expected to be effective on May 1, 2025, subject to the satisfaction of customary closing conditions. As of Dec. 30, 2024 (unaudited), First Chatham reported total assets of
"We're pleased to receive regulatory approval for our merger with FCB Financial Corp.," said Cadence Bank Chairman and CEO Dan Rollins. "First Chatham Bank is a trusted financial institution serving the
To learn more, visit CadenceBank.com.
About Cadence Bank
Cadence Bank (NYSE: CADE) is a
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, the benefits and synergies expected from the merger, and the ability of Cadence Bank to close the merger in a timely manner or at all.
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 complete the merger, the ability of Cadence Bank and FCB Financial Corp. to satisfy the conditions to the completion of the merger, including the approval of the merger by FCB Financial Corp.'s shareholders, the ability of Cadence Bank and FCB Financial Corp. to meet expectations regarding the timing, completion and accounting and tax treatments of the merger, the potential impact upon Cadence Bank of any delay in the closing 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 if the merger closes, the failure of the merger to close for any other reason, the effect of the announcement of the merger on Cadence Bank's operating results, the possibility that the merger 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.
Additional Information and Participants in the Solicitation
This communication is being made in respect of the merger of FCB Financial Corp. discussed in this press release. This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. In connection with the merger, Cadence Bank and FCB Financial Corp. have delivered a proxy statement and related offering materials to the shareholders of FCB Financial Corp. seeking approval of the merger and related matters. THE SHAREHOLDERS OF FCB FINANCIAL CORP. ARE ENCOURAGED TO READ THE PROXY STATEMENT AND OFFERING MEMORANDUM CAREFULLY IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER, CADENCE BANK AND FCB FINANCIAL CORP. The proxy statement and related offering memorandum will also be made available without charge from the Corporate Secretary of each of Cadence Bank and FCB Financial Corp. The Corporate Secretary of Cadence Bank may be contacted by mail at Attention: Corporate Secretary, Cadence Bank, 201 South Spring Street,
Cadence Bank and FCB Financial Corp., and certain of their respective directors, executive officers and other members of management and employees, may be deemed to be participants in the solicitation of proxies from the shareholders of FCB Financial Corp. in respect of the merger. Certain information about the directors and executive officers of Cadence Bank is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the Board of Governors of the Federal Reserve System (the "Federal Reserve") on Feb 21, 2025 (the "Form 10-K"), and in its proxy statement for its 2025 annual meeting of shareholders, which was filed with the Federal Reserve on March 14, 2025. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, are included in the proxy statement and related offering memorandum.
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