Cadence Bancorporation Completes $172.5 Million Initial Public Offering

April 19, 2017

Cadence Bancorporation completed the sale of 8,625,000 shares of its Class A common stock in an initial public offering at a price to the public of $20.00 per share, for a total offering size of $172,500,000. Cadence now trades on the New York Stock Exchange under the symbol CADE. S&C represented the underwriters in the offering, led by Goldman, Sachs & Co. and J.P. Morgan as joint lead bookrunning managers.
 
Cadence is a bank holding company headquartered in Houston, Texas, and is the parent company of Cadence Bank, N.A. Formed in 2009, Cadence secured $1.0 billion of capital commitments in 2010 and built its franchise by acquiring Cadence Bank, N.A. in March 2011, the franchise of Superior Bank in April 2011 and Encore Bank, N.A. in July 2012. Cadence is a growth-oriented, middle-market focused commercial relationship bank providing a broad range of banking and wealth management services to businesses, high-net-worth individuals and retail customers through a network of 65 locations in Alabama, Florida, Mississippi, Tennessee and Texas.
 
The S&C team was led by Catherine Clarkin and Mitchell Eitel, along with Katherine McGavin and Louis Argentieri, and in 2014 and 2015 in an early phase of the transaction, Walton Dumas. Benjamin Weiner advised on bank regulatory matters. Jeffrey Hochberg, Saul Brander and Lauren Citrome advised on tax matters. Marc Treviño and Jeannette Braun advised on executive compensation and benefits matters. Tracey Russell advised on FINRA-related matters.