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Home Community Banking

Cadence to buy FCB Financial in Georgia

January 28, 2025
Reading Time: 1 min read
OCC sees need for regulatory reform in bank merger process

Cadence Bank in Tupelo, Mississippi, has agreed to buy FCB Financial in Savannah, Georgia. The $50 billion-asset Cadence said in a news release that it will pay $103.6 million in cash and stock for the parent of the $590 million-asset First Chatham Bank. The deal is expected to close in the third quarter.

In other news, the FDIC announced it had approved a Bank Merger Act application submitted by WesBanco Bank in Wheeling, West Virginia, to acquire and merge with Premier Bank in Youngstown, Ohio. The resulting bank will operate in West Virginia, Indiana, Kentucky, Maryland, Michigan, Pennsylvania and Ohio, and will operate under the name, WesBanco Bank.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.

Tags: Mergers and acquisitions
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