Cadence Bank Expands with Acquisition of FCB Financial Corp.

Published 5 hours agoCADE

Cadence Bank Expands with Acquisition of FCB Financial Corp.

On January 22, 2025, Cadence Bank announced its most recent acquisition, agreeing to acquire FCB Financial Corp., the holding company of First Chatham Bank. This move aims to strengthen Cadence's presence in the southeastern United States, particularly in Savannah, Georgia, where First Chatham Bank is based.

This acquisition follows Cadence Bank's strategic shift in focus, marked by its decision to sell its insurance operations, Cadence Insurance, Inc., to Arthur J. Gallagher & Co. on October 24, 2023. According to the company's press release, the divestiture aligns with Cadence's strategy to streamline operations and concentrate on its core banking business.

Cadence Bank has not yet expanded into Texas through Industry Bancshares, despite continuous market speculation. The bank's recent actions highlight its commitment to consolidating its regional banking services, notably through strategic acquisitions like that of FCB Financial Corp.

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