Houston-based Cadence Bancorporation (NYSE: CADE) and Atlanta-based State Bank Financial Corp. (Nasdaq: STBZ) announced May 13 they will combine in an all-stock deal valued at $1.4 billion.
The deal is expected to close in the fourth quarter of 2018, according to a press release.
State Bank shareholders will receive 1.16 shares of Cadence Bancorporation Class A common stock for each share of State Bank common stock they own, per the release. Legacy Cadence shareholders will own 65 percent of the…
