The $4.1 billion-asset company also plans to merge its Superior Bank and Cadence Bank on Nov. 11, using the latter's name. The combined bank will employ 1,200 people and have more than 100 branches in Alabama, Florida, Georgia, Mississippi, Tennessee and Texas.
The company said in a press release that the consolidation will result in more services, including mobile banking to Superior customers in Alabama and Florida and better Treasury management services for business clients.
The company was formed in 2009 to buy distressed banks. It bought the $1.6 billion-asset Cadence Financial Corp. in March and the $3 billion-asset Superior Bank in April.
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