Cadence Bank has entered a deal, valued at about $103.6m, to acquire FCB Financial, the holding company for First Chatham Bank. As consideration for the merger, Cadence will issue 2.3 million shares of its stock and $23.

Under the terms of the deal, Cadence will issue 2.3 million shares of common stock and pay $23.1 million in cash for all outstanding shares of FCB Financial. Based on the 10-day moving average price of its stock of $34.98 on Jan. 21, Cadence said the deal is valued at about $103.6 million.

Cadence Bank (CADE) signed a definitive merger agreement with FCB Financial, the bank holding company for First Chatham Bank, a Savannah,

HOUSTON and TUPELO, Miss., Jan. 22, 2025 /PRNewswire/ -- Cadence Bank (NYSE: CADE) announced today the signing of a definitive merger agreement with FCB Financial Corp., the bank holding company for First Chatham Bank, a Savannah, Georgia -based community bank.