Cadence Files $100M IPO In Potential First Bank IPO Of 2017

Law360, New York (March 20, 2017, 6:46 PM EDT) -- Cadence Bancorporation, a middle-market bank operating 65 branches in five Southeastern states, filed a $100 million initial public offering Friday, guided by Wachtell Lipton Rosen & Katz and potentially becoming the year's first bank IPO.

Houston-based Cadence said it will use proceeds to support its expansion plans, which could include acquisitions, among other corporate purposes. The Cadence Bank parent estimates nearly $10 billion in assets, operating branches in Alabama, Florida, Texas, Mississippi and Tennessee.

“We are focused on organic growth and expanding our position in our...
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