August 2, 2012

State of Alabama
Press Release: Alabama Department of Commerce

Governor, Commerce Secretary Welcome Cadence Bank News

     MONTGOMERY—Governor Robert Bentley and Alabama Department of Commerce Secretary Greg Canfield welcomed news today that Cadence Bank will move its headquarters in Birmingham.

     Cadence is a leading regional bank with more than 100 branches across five Southeastern states and in Texas. The company will locate its headquarters to Concord Center located at 2100 Third Avenue North in Birmingham.

     “I want to thank the leaders of Cadence Bank for their continued commitment to Alabama and to Downtown Birmingham,” Governor Bentley said.  “Our long-range plan for economic development, Accelerate Alabama, includes both retaining Alabama companies and fostering the continued development of corporate headquarters in the state.  Cadence’s plans fit perfectly in the Accelerate Alabama plan.  I want to thank leaders at the local and corporate levels, along with our Alabama Department of Commerce, for working together to make today’s announcement possible.”

     “We are pleased that the Alabama Department of Commerce could assist with this important project for the Birmingham area,” Canfield said. “We will continue to work with Cadence to assist the company with growth and new jobs for the people of our state.”

     “The relocation of our bank headquarters within Birmingham is just one step of many that we have planned for Cadence as we continue to execute our growth strategy,” said Sam Tortorici, CEO of Cadence Bank. “We are excited about our plans to further build our commercial banking and wealth services sectors while remaining strong in the retail space. Our innovative vision has enabled us to employ some of the very best minds in today’s banking world.”

     Cadence Bank conducted a competitive search to identify the new location for its bank headquarters and Birmingham ranked as the number one city for Cadence to grow and prosper.  Company officials said a number of parties are to be thanked for developing a highly attractive package that made Birmingham the obvious choice.

     “Mayor William Bell, the Mayor’s Office of Economic Development and the Birmingham City Council, amid a host of others, have been exceedingly supportive in helping us identify Birmingham as the right place for the bank’s future,” said Tortorici. “The package they have presented to us provides an attractive cost of doing business here long term. We are grateful for their efforts to retain our presence in downtown Birmingham.”

     Cadence Bank also extended it gratitude to Governor Bentley, Canfield, and the Birmingham Parking Authority.

     “We entered this process with an open mind as there were many factors to consider,” Tortorici said. “We know Birmingham is a great place to live and do business, and we are all pleased with the outcome. It’s exactly where we want to be as we continue to grow.”

     Cadence will work with more than 58 different vendors, almost exclusively Alabama-based companies, to convert the 54,742-square-foot space into a high tech office with workspaces to accommodate 200 associates and a designated training area. The company currently maintains its headquarters in the historic John Hand Building on 20th North Street.

     “Our sound financial footing, new office space and the expanded team of talented bankers that we’ve employed affirm our allegiance to this great city,” Tortorici said.

     Cadence Bank, N.A., is a wholly-owned subsidiary of Cadence Bancorp, LLC, a $5.5 billion bank that provides consumers, small-and middle-market businesses, and commercial clients with a full range of banking, financial management, investment and trust services, treasury management, international, retail and mortgage products. For more information, visit the company’s website at http://www.cadencebank.com/

 

 

 



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