Cadence Financial Corporation Acquires Seasons Bancshares, Inc.STARKVILLE, Miss. -- Cadence Financial Corporation ("Cadence") (AMEX AMEX See: American Stock Exchange :NBY NBY Not Bad Yourself ) announced today that it completed the acquisition of Seasons Bancshares, Inc. of Blairsville, GA in an all-cash transaction valued at approximately $16.9 million. Effective with the closing, Seasons' branches became branches of Cadence Bank. Seasons Bancshares is a $88 million banking company. "We are pleased to welcome the Seasons team as part of Cadence Financial Corporation," stated Lewis F. Mallory, Jr., chairman and chief executive officer of Cadence Financial Corporation. "The Seasons acquisition marks Cadence Bank's entry into Georgia through the Seasons' locations in Blairsville and Blue Ridge Blue Ridge, eastern range of the Appalachian Mts., extending south from S Pa. to N Ga.; highest mountains in the E United States. Mt. Mitchell, 6,684 ft (2,037 m) high, is the tallest peak. Beginning with a narrow ridge in the north, c. which are located in the attractive Blue Ridge mountain region of north Georgia. The acquisition also provides Cadence with access to a strong market in the northeast corridor of Atlanta, one of the fastest growing areas in the state." Bill Sutton, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Seasons, stated, "We are excited to expand our banking resources under the Cadence brand and eager to offer our customers additional banking products available through Cadence. While our name will change, our staff remains 100% intact and we remain focused on providing our customers with superior banking services and the high levels of service they have come to expect." About Cadence Financial Corporation Cadence Financial Corporation is a $1.8 billion financial holding company providing full financial services, including banking, trust services, mortgage services, insurance and investment products in Mississippi, Tennessee, Alabama, Florida and Georgia. Cadence's stock is listed on the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors of NBY. |
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